Swiss bank UBS trader Kweku Adoboli (left) was arrested early Thursday morning and charged with two counts of false accounting and one count of “suspicion of fraud by abuse of position.”  His position was director of the Delta One trading desk at UBS in London, where he had worked as a trader for the past three years and as a technical advisor for two years before that.

Belgium flagIf the European Union begins to disintegrate, what signs would portend its spiral into disunion? One would be a member nation utterly ignoring the financial rules intended to support the EU by providing false and misleading information about its economy — actions already undertaken by both Greece and Portugal. Another indication of impending EU disintegration would be a member state simply printing its own euros — after only technically meeting the requirement of notification — as did Ireland a few months ago.

The communist Chinese regime was, at the very least, plotting to covertly arm Libyan dictator Muammar Gaddafi in violation of United Nations sanctions as recently as late July, documents discovered in Tripoli suggest. And despite official denials, analysts and rebel leaders said Beijing had actually delivered some of the weapons stockpiles.

The United Nations Security Council is considering a resolution to establish a UN mission in Libya, unfreeze assets of two major oil companies and repeal a ban on flights by Libyan aircraft. Great Britain was circulating a draft of the resolution among the 15 member nations of the Security Council Tuesday night and is hoping for a vote on it by the end of this week, the Associated Press reported on Wednesday.

LibyaNATO and U.S.-backed rebel forces in Libya are reportedly engaging in systematic attacks against the black population in what some analysts have called war crimes and even genocide, sparking condemnation worldwide from human-rights groups and officials.

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