UBS to revamp investment bank
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UBS, the biggest European casualty of the U.S. subprime crisis, said it was shrinking its investment banking business, cutting staff and drastically scaling down its exposure to risky investments.
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Britain's financial watchdog is to be given new powers to intervene in failing banks to avoid a repeat of the Northern Rock crisis, Chancellor of the Exchequer Alistair Darling said in an interview out Friday.
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At Charles Schwab, executives plan a return to the firm's original mission of serving mom-and-pop, buy-and-hold investors.
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LONDON/NEW YORK  - A group of nine of the world's   biggest investment banks said on Tuesday they planned to set up   a new system for reporting share trades, bypassing the major   European stock exchanges and ahead of new European securities   regulations due to come into force later this year.
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UBS AG is to acquire the branch network  of McDonald Investments, a unit of KeyCorp, for up to $280  million, the Swiss investment bank said on Wednesday.
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The discount broker is in talks with UBS to sell its capital markets division.
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Online music service Napster Inc.   said on Monday that it hired UBS Investment bank to  help it look at strategic alternatives, which could include the  sale of the company.
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Pensions secretary John Hutton is to take over a revamped Department of Business and Enterprise.
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LONDON, September 1 (New Ratings) - UBS AG (UBR.FSE) has reportedly agreed to acquire Charles Schwab Corporationâs capital markets unit for $265 million in an all cash deal.
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Credit Suisse yesterday announced a radical shake-up of its businesses including an overhaul of its investment bank and the planned flotation of insurer Winterthur.
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FRANKFURT : Deutsche Bank announced plans to reshuffle its management in order to meet its profit target for next year. Germany&#39;s leading bank, which is often accused of neglecting its domestic business in
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The board of Northern Rock, leading an in-house bid to rescue the bank, revises its proposal.
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UBS AG, Europeâs largest bank by assets, reported its first quarterly loss in almost five years after $4.4 billion in losses and writedowns on fixed-income securities.
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Bank of America Corp., which endured sharp cries of broken promises from state officials after it cut jobs at former Fleet branches, announced Thursday that it would move its wealth and investment management business to Boston.
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The bond firm plans to tackle riskier investments.
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With a major trading-fraud case finally settled yesterday, the Boston-based mutual fund operations of Bank of America are at work on a major restructuring over the coming months that will result in a smaller, more coherent lineup of funds, officials said.
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NEW YORK/ZURICH  - UBS AG  , Switzerland's largest bank, in a surprise move on Thursday replaced Chief Executive Peter Wuffli with his deputy, Marcel Rohner, and said Wuffli would leave the company.