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UBS

UBS to pay $545m over forex scandal

UBS will pay $545 million to US authorities to end an investigation into alleged manipulation of currency rates, a settlement that will help the Swiss bank to move on after a series of trading scandals. The amount was lower than e

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Short-term outlook for oil set to remain bleak

There will be further short-term weakness in the price of crude oil, UBS Wealth Management's latest research has revealed. But it indicates that gains in the latter half of the year will take the price to between $67-72 per ba

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US universities produce the most billionaires

Twenty-five billionaires obtained their bachelor's degrees from the University of Pennsylvania, making it the top university in the world in terms of number of billionaire undergraduate alumni, according to this year’s Wealth-X and UBS

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France may slap $6.14bn fine on UBS

French investigating magistrates have proposed that UBS pay a fine of 4.88 billion euros ($6.14 billion) in an investigation into whether the Swiss bank helped wealthy French individuals dodge tax, according to a judicial source. The pr

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UAE tops world in billionaire wealth growth

Billionaire wealth in the UAE surged to $132 billion in 2014 from $45 billion last year, marking a worldwide record increase of 193 per cent, a report said. The number of billionaires in the UAE also increased to 46 from 37 in 201

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UBS slapped $281m claim settlement charge

UBS AG booked a near $300 million charge in the second quarter mainly to settle claims it helped wealthy Germans to dodge taxes, the latest in a string of lawsuits that have targeted its private banking business. The Zurich-based

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UBS raises dividends after return to profit

UBS raised its dividend and increased bonuses for bankers by nearly a third yesterday after the Swiss bank returned to a fourth-quarter profit, reaping benefits of a revamp of its investment banking business. The turnaround follow

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Billionaire population hits 2,170; Asia surges

The global billionaire population reached a record 2,170 individuals in 2013 and the total billionaire wealth in Asia surged nearly 13 percent, making it the fastest-growing region, a new report said. At current growth rates, Asia

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Post Lehman, 'shadow banking' drives risk

Just days after UBS said that it would gut its fixed-income trading business last October, three of the Swiss bank's senior executives left to launch a firm to go where big banks won't anymore.

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Dubai court dismisses Kuwaiti sheikh's $21m claim

A Dubai court has dismissed a Kuwaiti sheikh's $21.4 million claim against UBS AG in which he alleged the Swiss bank failed to pay him for helping it become lead arranger on a $9 billion asset sale by Kuwaiti telecom operator Zain.

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