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UBS faces $1bn fine for UK Libor riggingSwiss bank UBS faces a fine of about $1 billion next week to settle charges of rigging the London interbank offered rate (Libor) interest rate benchmark, a person familiar with the situation said. Such a penalty would be more than More… |
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UBS fined $48m by FSA over scandalUBS was fined £30 million ($48 million) by Britain's financial watchdog and put under extra scrutiny by its Swiss counterpart over failings that allowed a rogue trader to lose $2.3 billion. Announcing the fine yesterday, More… |
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C. Suisse in new venture with QatarCredit Suisse Group has set up an asset management venture with key shareholder and sovereign wealth fund arm Qatar Holding, the Swiss banking group said on Tuesday. The new venture, named Avent More… |
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US, EU struggling to make Syria sanctions biteTwo months into anti-government protests in Syria last year, as the military crackdown grew more vicious, the European Union and US introduced sanctions against President Bashar al-Assad, his security chiefs and members of his family. More… |
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Swiss bank sets up regional hub in BahrainOne of Switzerland's largest international investment banks has decided to upgrade its operations in Bahrain to run as a regional hub, while two other Swiss banks are considering a presence in the kingdom. This is a massive vo More… |
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UBS 'faced danger of collapse'"Naked gambling" by UBS trader Kweku Adoboli nearly brought down the massive Swiss bank as he wagered up to $12 billion, cooked the books and lied to bosses until his "pyramid of fraud" collapsed, a prosecutor told a London c More… |
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UBS faces court case over deal feeUBS has got itself into a royal pickle in Kuwait. The Swiss bank is fighting a claim that it failed to pay a local sheikh for helping it secure the $10.7 billion sale of the African subsidiary of part state-owned telecom operator Zain. UBS More… |
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CS, Barclays shareholders revolt over pay plansMore than a quarter of shareholders at Credit Suisse and Barclays voted down the banks' pay plans yesterday, in a sign of investors catching up with popular outrage over bankers' pay. Such stark rejections are rare, with the average vote a More… |
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Eurozone economies 'set for recovery'The euro zone crisis will be resolved and will not break apart and no countries will leave the zone, according to a top official of Swiss Bank Sarasin Alpen. 'The euro zone economy will stall but stock markets should recover in 2012 as More… |
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Credit Suisse to reveal names of US clientsCredit Suisse AG, Switzerland's second-largest bank, has begun notifying certain US clients suspected of offshore tax evasion that it intends to turn over their names to the US Internal Revenue Service. Credit Suisse's notification by lett More… |
