fixed assets

3 Stories

Madoff Assets Top $1B

Trustee seeks Bernie's UK stocks, but $1M French home likely out of reach

(Newser) - The trustee digging up Bernard Madoff's assets has uncovered another $75 million in a Gibraltar bank account, pushing the total above $1 billion, the Wall Street Journal reports. In a civil hearing today, Assistant US Attorney Barbara Ward discussed the pursuit of other Madoff assets, saying France will likely seize... More »

Lehman Bros. Q1 Profits Plunge 57%

But beleaguered firm still beats forecasts; stock up pre-market

(Newser) - Lehman Brothers, which yesterday lost 19% of its market value, today reported a 57% drop in net income for the first quarter and a 31% drop in net revenue. But those dire figures still beat analyst forecasts, sending the stock up 12% in premarket trading, the Wall Street Journal reports.... More »

Swiss Bank Giant Posts Huge Losses Amid Credit Crisis

Biggest loser so far in subprime mess

(Newser) - Switzerland's largest bank, UBS, has become the biggest casualty of the worldwide turmoil in the financial markets, reports the Wall Street Journal. The bank is expected to announced today that it has written off  $3.4 billion in fixed income assets. UBS is projecting third quarter losses of at least... More »

3 Stories