GenevaLunch » UBS http://genevalunch.com Community Newspaper Online Fri, 10 Feb 2012 06:10:57 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 http://creativecommons.org/licenses/by-nc-nd/3.0/ Copyright © GenevaLunch 2010 editor@genevalunch.com (GenevaLunch) editor@genevalunch.com (GenevaLunch) http://genevalunch.com/wp-content/plugins/podpress/images/powered_by_podpress.jpg GenevaLunch http://genevalunch.com 144 144 Community Newspaper Online GenevaLunch GenevaLunch editor@genevalunch.com no no UBS investment banking losses cut into profits http://genevalunch.com/blog/2012/02/07/ubs-investment-banking-losses-cut-into-profits/ http://genevalunch.com/blog/2012/02/07/ubs-investment-banking-losses-cut-into-profits/#comments Tue, 07 Feb 2012 10:23:28 +0000 Ellen Wallace http://genevalunch.com/?p=66346 GenevaLunch.com ZURICH, SWITZERLAND – UBS, Switzerland’s largest bank, posted a full-year net profit of CHF4.23 billion, compared to CHF7.5b in 2010. The bank’s revenues were up in some areas and new money under management grew strongly, up CHF42.4 billion for the year, showing a turnaround in consumer confidence. But profits were hurt by fourth quarter losses [...]

UBS investment banking losses cut into profits © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

]]> http://genevalunch.com/blog/2012/02/07/ubs-investment-banking-losses-cut-into-profits/feed/ 1 Swiss investigation into possible bank lending rate fixing is latest in a string http://genevalunch.com/blog/2012/02/04/swiss-investigation-into-possible-bank-lending-rate-fixing-is-latest-in-a-string/ http://genevalunch.com/blog/2012/02/04/swiss-investigation-into-possible-bank-lending-rate-fixing-is-latest-in-a-string/#comments Sat, 04 Feb 2012 09:57:41 +0000 Ellen Wallace http://genevalunch.com/?p=66271 GenevaLunch.com BERN, SWITZERLAND – Comco, Switzerland’s competition commission, has opened an investigation into more than 10 international banks and companies and the country’s two largest, UBS and Credit Suisse, for possible “collusion between derivative traders [that] might have influenced the reference rates Libor and Tibor. Furthermore, market conditions regarding derivative products based on these reference rates [...]

Swiss investigation into possible bank lending rate fixing is latest in a string © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

]]> http://genevalunch.com/blog/2012/02/04/swiss-investigation-into-possible-bank-lending-rate-fixing-is-latest-in-a-string/feed/ 0 Regulators reported to be ready to go after UBS in trade scandal http://genevalunch.com/blog/2012/01/30/regulators-reported-to-be-ready-to-go-after-ubs-in-trade-scandal/ http://genevalunch.com/blog/2012/01/30/regulators-reported-to-be-ready-to-go-after-ubs-in-trade-scandal/#comments Mon, 30 Jan 2012 11:57:58 +0000 Ellen Wallace http://genevalunch.com/?p=66127 GenevaLunch.com ZURICH, SWITZERLAND – UK and Swiss banking regulators are reported by the Wall St Journal to be planning to fine Swiss bank UBS for shortcomings in supervising risky trades. The newspaper cites “people close to the situation”, noting that regulators from the two countries will complete their investigations by mid-February into the $23. billion loss [...]

Regulators reported to be ready to go after UBS in trade scandal © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

]]> http://genevalunch.com/blog/2012/01/30/regulators-reported-to-be-ready-to-go-after-ubs-in-trade-scandal/feed/ 0 UBS among 16 banks downgraded by S&P’s http://genevalunch.com/blog/2011/11/30/ubs-among-16-banks-downgraded-by-sps/ http://genevalunch.com/blog/2011/11/30/ubs-among-16-banks-downgraded-by-sps/#comments Wed, 30 Nov 2011 12:44:22 +0000 Ellen Wallace http://genevalunch.com/?p=64270 GenevaLunch.com Stock markets down on gloomy news ZURICH, SWITZERLAND – Standard & Poor’s applied new credit rating standards to 37 of the world’s largest banks 30 November, which resulted in the downgrading of a number of major banks, for different areas of their businesses. Seven of eight US banks on the list were downgraded. China Construction [...]

UBS among 16 banks downgraded by S&P’s © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

]]> http://genevalunch.com/blog/2011/11/30/ubs-among-16-banks-downgraded-by-sps/feed/ 0 Swiss president: single agreement with US should cover past, future http://genevalunch.com/blog/2011/11/28/swiss-president-says-single-agreement-with-us-should-cover-past-future/ http://genevalunch.com/blog/2011/11/28/swiss-president-says-single-agreement-with-us-should-cover-past-future/#comments Mon, 28 Nov 2011 20:24:40 +0000 Ellen Wallace http://genevalunch.com/?p=64168 GenevaLunch.com Swiss president says concern over legality of UK, German deals is EC’s “internal” problem GENEVA, SWITZERLAND – Switzerland is looking for an agreement with the US that will draw a line on the past, where banks and US tax fraud or evasion is concerned, Swiss President Micheline Calmy-Rey said Monday 28 November. It should include [...]

Swiss president: single agreement with US should cover past, future © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

]]> http://genevalunch.com/blog/2011/11/28/swiss-president-says-single-agreement-with-us-should-cover-past-future/feed/ 0 Zurich banker to continue helping IRS: 5 year suspended deal http://genevalunch.com/blog/2011/11/21/zurich-banker-to-continue-helping-irs-5-year-suspended-deal/ http://genevalunch.com/blog/2011/11/21/zurich-banker-to-continue-helping-irs-5-year-suspended-deal/#comments Mon, 21 Nov 2011 08:43:19 +0000 Ellen Wallace http://genevalunch.com/?p=63703 GenevaLunch.com ZURICH, SWITZERLAND – Renzo Gadola, former UBS wealth management senior banker, was given a sentence of five year’s probation last week in Florida after he was earlier found guilty of helping wealthy Americans evade US taxes by hiding their assets in offshore accounts. It came out in a court document, “Motion for Downward Departure From [...]

Zurich banker to continue helping IRS: 5 year suspended deal © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

]]> http://genevalunch.com/blog/2011/11/21/zurich-banker-to-continue-helping-irs-5-year-suspended-deal/feed/ 2 UBS staff could see bonus cuts linked to trader’s loss http://genevalunch.com/blog/2011/11/21/ubs-staff-could-see-bonus-cuts-linked-to-traders-loss/ http://genevalunch.com/blog/2011/11/21/ubs-staff-could-see-bonus-cuts-linked-to-traders-loss/#comments Mon, 21 Nov 2011 07:37:01 +0000 Ellen Wallace http://genevalunch.com/?p=63727 GenevaLunch.com ZURICH, SWITZERLAND – Bonuses at Swiss bank UBS’s investment bank could be cut by up to 10 percent to help cover the CHF1.8 billion lost by rogue trader Kweku Adoboli earlier this year, new chief executive Sergio Ermotti has told the Financial Times. The bank was criticized after it published third quarter results 25 October, [...]

UBS staff could see bonus cuts linked to trader’s loss © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

]]> http://genevalunch.com/blog/2011/11/21/ubs-staff-could-see-bonus-cuts-linked-to-traders-loss/feed/ 0 UBS: job cuts in investment banking as focus shifts to wealth mgmt. http://genevalunch.com/blog/2011/11/17/ubs-job-cuts-in-investment-banking-as-focus-shifts-to-wealth-mgmt/ http://genevalunch.com/blog/2011/11/17/ubs-job-cuts-in-investment-banking-as-focus-shifts-to-wealth-mgmt/#comments Thu, 17 Nov 2011 22:10:30 +0000 Ellen Wallace http://genevalunch.com/?p=63669 GenevaLunch.com ZURICH, SWITZERLAND – Switzerland’s largest bank, UBS, said Thursday 17 November that it will strip down its investment banking business and reduce its risks to concentrate on global wealth management and its private banking business in Switzerland. The restructuring was detailed at an investors conference in New York, with new chief executive Sergio Ermotti giving [...]

UBS: job cuts in investment banking as focus shifts to wealth mgmt. © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

]]> http://genevalunch.com/blog/2011/11/17/ubs-job-cuts-in-investment-banking-as-focus-shifts-to-wealth-mgmt/feed/ 0 UBS gets new boss, Credit Suisse gets Moody’s warning http://genevalunch.com/blog/2011/11/15/ubs-gets-new-boss-credit-suisse-gets-moodys-warning/ http://genevalunch.com/blog/2011/11/15/ubs-gets-new-boss-credit-suisse-gets-moodys-warning/#comments Tue, 15 Nov 2011 07:14:25 +0000 Ellen Wallace http://genevalunch.com/?p=63534 GenevaLunch.com ZURICH, SWITZERLAND – UBS will have a new boss: Sergio Ermotti, 51, who has been the ad interim chief executive of Switzerland’s largest bank since 24 September, has been named to the post permanently, the bank announced Tuesday morning 15 November. He replaced Oswald Gruebel, called in to turn the bank around in February 2009, [...]

UBS gets new boss, Credit Suisse gets Moody’s warning © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

]]> http://genevalunch.com/blog/2011/11/15/ubs-gets-new-boss-credit-suisse-gets-moodys-warning/feed/ 0 US-Swiss tax deal commission clarifies new rules http://genevalunch.com/blog/2011/11/11/us-swiss-tax-deal-commission-clarifies-new-rules/ http://genevalunch.com/blog/2011/11/11/us-swiss-tax-deal-commission-clarifies-new-rules/#comments Fri, 11 Nov 2011 14:47:36 +0000 Ellen Wallace http://genevalunch.com/?p=63453 GenevaLunch.com BERN, SWITZERLAND – Americans who create offshore shadow companies or foundations, clearly to avoid taxes and with the active help of a Swiss bank, could see their financial information shared with the IRS even if the US tax authority cannot provide their names, if parliament accepts recommendations of the upper house foreign affairs commission. The [...]

US-Swiss tax deal commission clarifies new rules © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

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