News

Don’t cry for Aberdeen Asset Management but Argentina’s currency issues sent it falling yesterday.

UBS chief waives bonus for 2010

Oswald Gruebel, the chief executive of UBS, has decided to forgo his annual bonus for the second consecutive year after the Swiss bank's share price failed to rise in 2010.

Credit Suisse lowers profitability target

Credit Suisse cut its profitability target and dividend yesterday, blaming tighter capital regulations, after it missed fourth-quarter profit forecasts on disappointing fixed-income trading.

UBS cuts bonus pool despite return to profit

UBS, the Swiss finance giant, was finally able to report a return to profit yesterday, four years after its last period in the black, but said it still planned to cut the bonuses paid to bankers. It is also continuing its policy of not paying a dividend to shareholders.

Administrator sues UBS for $2bn over Madoff scheme

The trustee seeking to recover money for Bernard Madoff investors has sued UBS for $2bn (£1.3bn), accusing the Swiss bank of collaborating in the massive Ponzi scheme.

UBS disappoints with investment bank loss

UBS reported a surprise loss in investment banking yesterday that overshadowed news that fresh money was finally flowing into the Swiss giant's core private bank.

UBS says credit crunch bosses are off the hook

UBS sought to brush its disastrous performance during the financial crisis under the carpet yesterday by admitting mistakes but ruling out any legal action against its former bosses.

The Week Ahead: Updates from builders to clarify housing market

Investors will be hoping for further clarity on the housing market when the builders Persimmon and Bovis Homes issue updates this week.

Swiss parliament finally ratifies deal to release bank data to US

Switzerland's politicians have voted to hand over the account details of 4,450 Americans suspected of using the country's banking secrecy laws to evade US taxes.

Swiss politicians threaten to derail tax deal with Washington

The international deal that saved the Swiss bank UBS from investigation for aiding massive tax evasion in the US has been thrown into confusion after Switzerland's lower house of parliament rejected a plan to hand over thousands of customer details to American tax authorities.

UBS investors vent anger against old board

UBS shareholders took the unprecedented step of refusing to exonerate former top executives for the risky investment bets that brought the bank to the verge of collapse during the credit crisis.

UBS hopes profits will defuse AGM anger

UBS sought to defuse criticism over management responsibility for the bank's troubles and bonuses by posting its highest pre-tax profit since the credit crisis began and a big slowdown in client withdrawals.

Suspect sought in 'market abuse' case

UK authorities are seeking the extradition of an eighth suspect at large abroad in an insider trading investigation by the Financial Services Authority.

Swiss suspect fraud among UBS clients

Most of the rich people whose UBS bank accounts are to be handed over to US authorities are suspected of fraud rather than simple tax evasion, Swiss authorities revealed.

Citi and UBS to advise on sales

Investment banks Citi and UBS will be retained as advisers to the Government and London & Continental Railways (LCR), when the Channel Tunnel rail link is sold next year.

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