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After Rogue Trader, UBS Profit Plunges

AP | By JOHN HEILPRIN | Posted 12.25.2011 | Business

GENEVA -- Scandal-hit Swiss bank UBS AG reported Tuesday a 39 percent drop in third-quarter profit, slightly less than feared, due to a rogue trading ...

UBS CEO Resigns Over Rogue Trading Loss

AP | FRANK JORDANS | Posted 11.24.2011 | Business

GENEVA — UBS chief executive Oswald Gruebel has resigned over a $2.3 billion loss caused by rogue trading at its investment division, which is t...

Rogue Trader Fallout: UBS Starts Internal Probe Into $2.3 Billion Loss

Posted 11.19.2011 | Business

ZURICH (Reuters) - UBS kicked off an internal investigation into the catastrophic failure of its risk systems after rogue equity trades cost the S...

Loss From Bank Giant's Scandal Reaches $2.3 Billion

AP | FRANK JORDANS | Posted 11.18.2011 | Business

GENEVA — Oswald Gruebel, the chief executive of UBS, has dismissed calls for his resignation as politically motivated, even as the Swiss banking...

Make It So: Get a Grip on Risk and Surveillance (Lessons Learned From UBS)

John Bates | Posted 11.16.2011 | Business
John Bates

It is not only rogues and scoundrels that banks need to be aware of. Trading positions that push firms beyond a safe risk threshold are a classic problem.

UBS Hit Shows Risks of Casino Investment Banks

John Tepper Marlin | Posted 11.16.2011 | Business
John Tepper Marlin

I'm reading about the arrest in London of Kweku Adoboli of the Swiss investment bank UBS. I'm at the Randolph Hotel in Oxford, overlooking Balliol Col...

UBS And The Rogue Banking System

Julian Kossoff | Posted 11.30.2011 | UK
Julian Kossoff

There is stiff competition for the title of the world's worst bank but the Swiss shambles, UBS, must now have pushed aside the financial catastrophes that are Bank of America, Royal Bank of Scotland, HBOS and CitiBank, to sit atop the whole stinking heap.

Suspected Rogue Trader's Family: 'Fraud Not Our Way Of Life'

Posted 11.15.2011 | Business

ACCRA (Reuters) - The father of a trader accused of losing Swiss banking giant UBS about $2 billion in unauthorized deals said on Thursday he was ...

Rogue Trader Loses Swiss Bank $2 Billion

Posted 11.15.2011 | Business

Swiss bank UBS said a rogue trader had lost it $2 billion in unauthorized dealing, and police in London arrested a man in connection with the case...

Freddie and Fannie -- Has Everyone Gone Postal?

Adam Levin | Posted 11.07.2011 | Business
Adam Levin

Between Freddie and Fannie's latest woes and the United States Postal Service teetering on collapse, it's been a bad week or so for quasi-governmental agencies.

Zach Carter

Another Rick Perry Staffer Ensnared In Teacher Death Bond Scheme | Zach Carter | Posted 10.26.2011 | Politics

WASHINGTON -- Texas Governor Rick Perry's ties to Swiss banking giant UBS go beyond his relationship with former Sen. Phil Gramm (R-Texas). Perry's cu...

Jason Cherkis

Better Off Dead: Confidential Notes Show Rick Perry's Role In Life Insurance Scheme Targeting Teachers | Jason Cherkis | Posted 10.25.2011 | Politics

WASHINGTON -- Two weeks before Thanksgiving in 2003, top officials from Texas Governor Rick Perry's office pitched an unusual offer to the state's ret...

Ex-Banker Charged With Helping Wealthy Americans Evade Taxes

Posted 10.02.2011 | Business

FAIRFIELD, Conn. (Lynnley Browning) - A former senior UBS private banker was indicted by the United States Tuesday for selling offshore tax-evasio...

HSBC Fires In Europe, To Hire In Asia

The Huffington Post | William Alden | Posted 10.02.2011 | Business

HSBC, Europe's largest bank, is firing people in Europe and the U.S., and hiring people elsewhere. With profits from its Asian and Latin American b...

Another Big Bank Rolls Out Thousands Of Job Cuts

Posted 10.02.2011 | Business

(Steve Slater) - Barclays is set to cut about 3,000 jobs this year to reduce costs after a drop in bond trading and an insurance mis-selling charg...

UBS Sued For Allegedly Misleading Fannie Mae, Freddie Mac

Posted 09.26.2011 | Business

NEW YORK (Jonathan Stempel) - UBS AG (UBSN.VX) was sued by the conservator for Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB), which accused the S...

William Alden

As Layoffs Hit Wall Street, Lowest-Paid Workers Lose Jobs | William Alden | Posted 09.21.2011 | Business

NEW YORK -- Layoffs have returned to Wall Street as investment banks bemoaning economic malaise and disappointing revenues are moving to pare their pa...

UBS, Credit Suisse Plan To Cut 6,000 Total Jobs

Posted 09.13.2011 | Business

ZURICH - UBS is set to cut around 5,000 jobs to save 1 billion Swiss francs ($1.20 billion) while rival Credit Suisse is planning to axe about 1,0...

Goldman Sachs Took Biggest Loan During Fed's Emergency Program

Posted 09.05.2011 | Business

WASHINGTON - Goldman Sachs, Lehman Brothers, and European banks RBS and UBS were the biggest beneficiaries of very short-term Federal Reserve loan...

On Obama, Wall Street Shows A Reluctance To Commit

The New York Times | ANDREW ROSS SORKIN | Posted 08.27.2011 | Business

President Obama's $35,800-a-plate fund-raising dinner was the talk of Wall Street last week....

Global Markets Lifted On Hopes Greece Will Pass Confidence Vote

Posted 08.21.2011 | Business

LONDON (AP) -- Hopes that the Greek government will pass a crucial confidence vote later Tuesday, paving the way for the debt-stricken country to get ...

China's Trade Surplus Suffers Due To More Imports, Lower Demand

Posted 08.10.2011 | Business

BEIJING (Kevin Yao and Zhou Xin) - China posted a smaller-than-expected trade surplus in May of $13.1 billion because of soaring imports and weake...

Regulations For Untaxed Swiss Bank Accounts In The Works

Posted 08.10.2011 | Business

ZURICH (Catherine Bosley) - Swiss and U.S. authorities have held informal exploratory talks that touched on regularizing untaxed money held by wea...

More Big Banks Added To Mortgage Securities Investigation

Bloomberg | Karen Freifeld | Posted 07.23.2011 | Business

JPMorgan Chase & Co., UBS AG and Deutsche Bank AG are being probed in an expanded investigation by New York Attorney General Eric Schneiderman into mo...

State, Local Governments Could Face Larger Layoffs Next Year, Report Says

Posted 07.23.2011 | Business

NEW YORK (Joan Gralla) - Around 450,000 people who work for U.S. states, counties, cities, towns and villages could get pink slips in fiscal 2012, s...