A trader accused of fraud over a $2.3 billion loss in unauthorized trading reported by Swiss banking giant UBS pleaded not guilty in a London court Monday.
Three Swiss bankers have been charged with helping American taxpayers hide more than $1.2 billion from the Internal Revenue Service, the U.S. Attorney's Office in Manhattan announced Tuesday.
Banks trying to stave off huge pay outs over the Bernard Madoff mess have scored a key win in court.
UBS reported better than expected third quarter net profits of more than SFr1bn ($1.13bn), in spite of a massive unauthorised trading loss that cost the group SFr1.85bn.
U.S. stocks are set to start the trading day treading water, as investors remain cautious ahead of a key summit on Europe's debt crisis, and mull over an onslaught of earnings.
The chief executive of UBS Group resigned Saturday in the wake of a staggering $2.3 billion loss on unauthorized trades at the Swiss bank.
The head of Swiss banking giant UBS has resigned in the wake of a $2.3 billion loss in unauthorized trading, the bank announced Saturday.
UBS CEO resigns
updated: Sat Sep 24 2011 11:07:00
CNN's Richard Quest comments on the resignation of UBS CEO Oswald Greubel.
CNN's Max Foster talks to Trading Advantage's Larry Levin about unauthorized trading and the impact of it on markets.
Oswald Grübel is to make a "back me or sack me" pitch to the board of UBS as the bank's chief executive steels his determination to stay in his job in the wake of a $2.3bn rogue trading scandal.
If there's an upside to the embattled Dodd-Frank laws, it's made it less likely that a rogue trader could topple a major U.S. financial institution.
Police in London charged Kwaku Adoboli -- the suspected rogue trader who may have cost Swiss bank UBS $2 billion -- with fraud by abuse of position and false accounting Friday.
The last Facebook post of Kweku Adoboli, the 31-year-old UBS trader at the centre of a $2bn rogue trading scandal, read simply: "need a miracle".
Markets are shaken by UBS trading loss after rallying on eurozone news.
CNNMoney: UBS to cut 3,500 jobsupdated: Tue Aug 23 2011 07:48:00
Swiss bank UBS said Tuesday that it is reducing its staff by 3,500 jobs, including some reductions in the United States, through a mixture of layoffs and "natural attrition."
The court-appointed trustee for the recovery of assets stolen by Bernard Madoff has sued UBS AG for $2 billion, accusing the Swiss financial firm of participating in Madoff's Ponzi scheme.
Stocks churned Tuesday, losing steam after a three-session run, after a big drop in consumer confidence offset better-than-expected profit growth from DuPont, UBS and others.
The Internal Revenue Service announced Wednesday that it has reached a deal with the Swiss government, gaining access to thousands of UBS AG accounts that Americans might have used to avoid paying taxes.
Stock futures were mixed Tuesday as oil prices dipped and the government reported a lower-than-expected trade gap, after showing signs of earlier weakness on losses reported by JPMorgan and UBS.
If your bank contacts you about a bond-like investment you made some time ago, don't ignore it. You could benefit from an unusual settlement that will allow you to get back 100% of your investment's value.
The Swiss bank UBS has reached a $19.4 billion agreement to buy back bonds in the biggest settlement yet over claims that banks misled investors to buy auction-rate securities
The Swiss bank UBS has reached a $19.4 billion agreement to buy back bonds in the biggest settlement yet over claims that banks misled investors to buy auction-rate securities, the Massachusetts Secretary of State's office said Friday.
Banking giant UBS AG faces securities-fraud charges in New York over its conduct in the auction-rate securities market
By most measures, the first half of 2008 was downright dreadful for most banks and securities firms.
If it's not bolted down, you can bet that troubled financial firms are thinking of putting a price tag on it.
Stocks were poised for a bleak start to the third quarter on Tuesday as overseas markets closed lower and concerns about surging oil prices continued to dog investors.
America's banks and brokerages are scrambling to raise badly needed cash, but it may be at the expense of shareholders
A former UBS executive has pleaded guilty in a U.S. tax case that is part of a wide-ranging probe into whether the Swiss banking giant helped wealthy clients hide assets and evade taxes
CNN's Allan Chernoff takes a look at the proposed federal oversight overhaul and what's not included.
U.S. stock futures pointed toward a flat open Thursday as investors waited to hear what Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson would say during their testimony before the Senate Banking Committee, slated to start at 10:00 a.m. ET.
A hedge fund manager, who was among more than a dozen people accused of participating in an insider trading ring on Wall Street, pleaded guilty Tuesday to profiting from inside tips allegedly leaked by a former UBS Securities executive.
Treasury prices edged higher in thin trade Monday with little economic data on tap and investors focused on congressional elections.
UBS AG ranks no. 36 on FORTUNE's Global 500 this year, with $84.7 billion in revenues, up 48.8% from the previous year. The Zurich, Switzerland-based company was ranked no. 66 on the 2005 list. Its 2005 profits were $11.3 billion, up 72.9% from a year earlier. 2005 was a banner year for most Global 500 companies.
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