Skip to: Content
Skip to: Site Navigation
Skip to: Search
THURSDAY, NOVEMBER 26, 2009
| Subscribe to Newser's RSS feeds RSS | Follow Newser on Twitter Twitter

NEWS ABOUT: UBS

UBS stories: 55 news summaries

41 - 55 of 55 Stories | << Prev 1 2 3

Switch to grid view »

Wall Street Faults Rules
on Writedowns

Critics say accounting rules exaggerate losses, hinder market

Mar 1, 08 12:09 PM CST
(Newser) - After months of staggering writedowns battering Wall Street, some investors and executives are charging that accounting rules are exaggerating losses and triggering slumps like yesterday’s 315-point plunge in the Dow, reports the Wall Street Journal. Rules requiring companies to value holdings at current market rates, no matter how volatile,... More »

MORE ABOUT:
Wall Street • investors • Federal Reserve • UBS • AIG • write down • subprime crisis • financial crisis

UBS Posts Record $11.2B Quarterly Loss

Swiss bank also posts its first annual loss on $13.7B subprime writedowns

Feb 14, 08 6:10 AM CST
(Newser) - Swiss banking giant UBS today reported an $11.23-billion fourth-quarter loss—the largest ever by a bank—and its first full-year loss ever, after taking $13.7 billion more in subprime mortgage writedowns, reports the Telegraph. UBS, which still has a $27.59-billion exposure to subprime securities, is... More »

MORE ABOUT:
subprime mortgages • UBS • corporate earnings • shares

Feds Eye UBS as Subprime Probe Widens

Criminal prosecutors target Swiss banking giant for mispricing

Feb 2, 08 12:06 PM CST
(Newser) - US criminal prosecutors investigating the subprime mortgage mess want to find out if UBS deliberately misled investors, the Wall Street Journal reports. The Swiss banking giant may have put mortgage bonds on its books at high prices despite knowing their valuations had plummeted. There are multiple probes into the mortgage... More »

MORE ABOUT:
FBI • subprime mortgages • UBS • Merrill Lynch • SEC • subprime crisis

Subprime Woes Cost UBS Record $4B Loss

The Swiss bank adds to its write downs; more bad news could be coming

Jan 30, 08 5:59 AM CST
(Newser) - Hit hard by the subprime mortgage crisis, UBS AG announced it will write down an additional $4 billion in bad investments and post a $4.03 billion loss for 2007, a record for the company and significantly more than the Swiss banking giant predicted in December, reports the Wall Street ... More »

MORE ABOUT:
subprime mortgages • UBS • corporate earnings • subprime crisis

In Need of Cash, Banks Looking to Sell

It's a buyers market as banks unload 'everything from branches to entire units'

Dec 28, 07 7:48 AM CST
(Newser) - Still in need of cash, as subprime writedowns continue to maul bottom lines, US and European banks are selling off or shuttering non-critical assets. They've already sold stakes to foreign investors and borrowed from central banks; now it's time for the yard sale, as the Wall Street Journal puts it.... More »

MORE ABOUT:
Citigroup • subprime mortgages • Morgan Stanley • UBS • Merrill Lynch • HSBC

Merrill Lynch Seeking $5B Cash From Singapore

Anticipating more writedowns, Merrill becomes the latest Western financial institution to look East for help

Dec 21, 07 7:49 AM CST
(Newser) - Facing a fourth-quarter writedown of an estimated $8 billion in subprime paper, Merrill Lynch is negotiating with Singapore’s state-owned investment fund Temasek Holdings for a $5-billion cash infusion, the Wall Street Journal reports. If the deal goes through, Merrill would join several other Western financial institutions bailed out by... More »

MORE ABOUT:
subprime mortgages • Morgan Stanley • UBS • Merrill Lynch

UBS Writes Down $10B; Sells $11.5B Stake

Subprime exposure will cost bank Q4 profit, result in loss for the year

Dec 10, 07 7:32 AM CST
(Newser) - Investors from Singapore and the Mideast will breathe $11.5 billion in new capital into UBS as the Swiss banking giant announces that it will write down an additional $10 billion in subprime holdings, Bloomberg reports. The bank said the subprime losses, the biggest  by a European bank, will wipe... More »

MORE ABOUT:
subprime mortgages • UBS • Singapore • Abu Dhabi

Street Foresees Very Good Year  

Amid chaos, $28B in earnings marks the second best in history

Nov 13, 07 12:44 PM CST
(Newser) - Despite $45 billion in subprime writedowns, rolling CEO heads, and an $84 billion drop in market value, Wall Street will somehow post its second-most-profitable year ever, reports Bloomberg. “As the bombs are dropping and the mines are exploding, it's a bit of a surprise,'' said an investment banker.... More »

MORE ABOUT:
investing • Wall Street • Citigroup • Goldman Sachs • UBS • earnings reports • Merrill Lynch • Lehman Brothers

UBS Reports $712M Q3 Loss, $4.4B in Writedowns

Subprime crisis costs bank $4 billion in writedown

Oct 30, 07 8:36 AM CDT
(Newser) - The subprime mortgage mess claimed another casualty today: Zurich-based UBS reported its first quarterly loss in nearly five years, a $712 million hit that drove down share prices as much as 1.9%, reports Bloomberg. UBS reported $4.4 billion in losses and writedowns on mortgage securities. And more writedowns... More »

MORE ABOUT:
subprime mortgages • UBS • corporate earnings • US economy • banking

China to Bar Foreigners
From Owning Brokerages

Western banks will have to settle for 20%

Oct 3, 07 10:59 AM CDT
(Newser) - China's stock markets are booming, with 47 million new trading accounts opening this year, but foreign banks eager to cash in on the expansion will be frustrated: Beijing is about to introduce new rules prohibiting foreign investors from acquiring more than 20% of any Chinese brokerage, Bloomberg writes. More »

MORE ABOUT:
China • stock market • Goldman Sachs • Henry Paulson • Wu Yi • UBS

Dow Breaks 14,000 for 2nd Time

New clarity takes steam out of doomsday scenario

Oct 1, 07 3:53 PM CDT
(Newser) - Citigroup and UBS warned of steep third quarter declines today, and the Dow responded by jumping 191.92 points—reacting to new clarity in an uncertain market, the Wall Street Journal reports. The index hit an intraday record—14,091.53—before closing at 14,087.55, only the second... More »

MORE ABOUT:
Citigroup • Dow Jones • subprime mortgages • UBS • Nasdaq • S&P 500

Swiss Bank Giant Posts Huge Losses Amid Credit Crisis

Biggest loser so far in subprime mess

Oct 1, 07 3:48 AM CDT
(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 »

MORE ABOUT:
Goldman Sachs • subprime mortgages • UBS • hedge fund • credit market • third quarter earnings • fixed assets • Peter Wuffli • Huw Jenkins

Credit Squeeze's One Winner: The Dollar

Worldwide scramble for greenbacks reverses currency's slide

Aug 16, 07 12:59 PM CDT
(Newser) - After years of decline, the American dollar has reasserted itself in the face of the worldwide credit crunch. The dollar has rallied against the euro and the pound as banks and investors drop hazardous financial instruments and hold cash, Bloomberg reports, making the implication clear: For all its woes, the... More »

MORE ABOUT:
currency • subprime mortgages • UBS • money • euro • US dollar

Risk-Averse
Euro Markets
Retreat

Subprime mortgage damage, uncertainty continue to spread

Aug 15, 07 7:42 AM CDT
(Newser) - European markets plunged today over worries about the spreading subprime mortgage crisis. Analysts downgraded UBS and Deutsche Bank, which dropped, and all 14 open Western European exchanges lost ground, echoing the Asian markets' earlier retreat. "There's a lot of uncertainty about what's going on and who has lost money... More »

MORE ABOUT:
stock market • Credit Suisse • subprime mortgages • Deutsche Bank • UBS • Asian markets • European markets

International Banks Face Trial in Italian Court

Morgan Stanley, others indicted in wake of Parmalat bankruptcy

Jun 13, 07 10:15 AM CDT
(Newser) - Four gold-plated investment banks have been ordered to stand trial for alleged market manipulation for their roles in advising Italian dairy giant Parmalat, which declared bankruptcy in 2003. Italian prosecutors say Morgan Stanley, Deutsche Bank, UBS, and Citigroup allowed Parmalat to manipulate its finances, helping it to defraud investors even... More »

MORE ABOUT:
fraud • Citigroup • bankruptcy • Parmalat • Morgan Stanley • Deutsche Bank • UBS • bank

41 - 55 of 55 Stories | << Prev 1 2 3


from our news partners

Associated PressAssociated Press