Switzerland: UBS Examined
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The countryâs banking regulator is planning to find out how UBS racked up $10 billion in write-downs related to the subprime lending problems in the United States. âWe have to look how the situation got so farâ into a loss, a spokesman for the Federal Banking Commission, Alain Bichsel, said. âItâs our job.â On Dec. 10, UBS announced the largest subprime write-downs by any European bank and said it would raise $16.8 billion to improve its financial strength. Mr. Bichsel said that the bankâs response to the losses was âvery goodâ and that UBS would not face an âinvestigation in the legal sense.â There is no evidence of any wrongdoing by UBS, Europeâs largest bank by assets, he added. A spokesman for UBS, Serge Steiner, declined to comment.
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Banking giant UBS (UBSN.VX: Quote, Profile, Research) was cautious over prospects for the rest of the year after a lull in trading hurt its third-quarter profit, despite
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The German and French financial  watchdogs said on Thursday they were looking into recent  trading by U.S. financial services group Citigroup C.N in  European government bond and derivative markets.
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UBS , the world's largest wealth manager, reported record full-year profits as its wealth management and investment banking units boomed, hiked its dividend and unveiled a 16 billion Swiss franc ($12.77 billion) share buyback.
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Deutsche Bank - is being investigated on suspicion it may have manipulated its balance sheet, the AFP news agency has reported.
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UBS (NYSE:UBS) led European shares on a roller-coaster ride on Thursday when growing fears that losses at ailing bond insurers would pummell the banking sector capped the worst yet January for European stock markets.
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ZURICH/NEW YORK  - Swiss banking group UBS, the  world's largest wealth manager, said on Monday it had  strengthened its position in the United States by buying local  rival Julius Baer's U.S. wealth-management business.
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Indian liquor baron Vijay Mallya's UB Group said Wednesday it was scrutinising the books of scotch-whisky maker Whyte and Mackay prior to a possible takeover reportedly worth 550 million pounds.
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ZURICH, Feb. 13  â The Swiss bank UBS said Tuesday that its fourth-quarter profit declined 47 percent, to 3.41 billion francs ($2.73 billion), from the year-earlier period, which benefited from the sale of assets.
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Banking giant UBS (UBSN.VX: Quote, Profile, Research) was cautious over prospects for the rest of the year after a seasonal lull in trading hurt its third-quarter
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Swiss bank UBS seeks backing to sell stakes in the firm as it tries to assess the impact of the US sub-prime crisis
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ZURICH, Switzerland  -- UBS AG on Thursday posted a fourth-quarter net loss of $11.28 billion, and a loss for the entire year, besieged as other banks were by investments in U.S. subprime mortgages.
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Citigroup said in a research note that UBS  could face up to 20 billion Swiss francs ($18.10 billion) in new writedowns in 2008 after revealing it has $80 billion in exposures to subprime loans and other debt.
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The Swiss-based banking group UBS was cautious over the outlook for its investment bank after a lull in trading crimped its third-quarter profit.
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Bank&#39;s 3Q profit dips, but it says &#39;04 will be better than &#39;03; wealth management stays strong. ZURICH  - Banking heavyweight UBS remained cautious about prospects for the rest of the year after a
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New York State prosecutors are investigating whether Wall Street banks withheld information about the risks posed by investments linked to subprime mortgages.
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Bear Stearns Cos  is being investigated by Massachusetts securities regulators over whether the bank improperly traded with two in-house hedge funds that collapsed last summer, the Wall Street Journal reported on Friday.