UBS Financial Services News
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UBS is facing more than $600 million in damage claims filed by Puerto Rico investors in closed-end bond funds, the bank said in its second quarter earnings report Tuesday.
UBS AG managing directors Yoshiaki Sasamura and John Gerard "JT" Toland have left the bank, adding to departures in recent weeks from the fixed-income business at Switzerland's biggest lender.
UBS AG said the U.S. Securities and Exchange Commission is investigating its dark pool, while Deutsche Bank AG is responding to requests for information from regulators on high-frequency trading.
UBS revealed that the SEC has been investigating the Swiss bank since 2012, and that it could potentially be facing a class action lawsuit brought against it by traders in a New York federal court.
UBS AG / Preliminary announcement on the disclosure of financial statements 29.07.2014 16:53 Announcement according to articles 37v, 37w, 37x ff.
UBS AG, Switzerland's biggest bank, reported a 15 percent rise in second-quarter profit on lower costs, and said it settled a German tax investigation.
Tucked into today's second-quarter earnings presentation from UBS AG is a table that acts as kind of a map of where in the world's new wealth is being created.
Switzerland's biggest bank said its net profit for the April-June period rose to 792 million Swiss francs , up from 690 million francs in the comparable period from 2013.
The coal business, after fueling the Industrial Revolution and powering U.S. growth for much of the past century, is now beset by a glut of cheap natural gas and tighter regulation.
The biggest auto-parts deal since 2007 may be just the start of consolidation, with Autoliv Inc. and Visteon Corp. among the next potential targets.
Swiss bank UBS said it had been ordered by French officials on Wednesday to pay 1.1 billion euros in bail after being put under formal investigation over allegations it laundered the proceeds of tax evasion.
Baird Financial Group, the holding company of Robert W. Baird & Co, said on Wednesday it has hired two financial advisers to bolster its Houston offices, including the manager of one of the top producing offices for UBS Financial Services in the Texas city.
"We consider both the legal basis for the bail amount and the method of calculation to be deeply flawed and will appeal," the Zurich-based bank said in a statement to Reuters on Wednesday.
Updated: Thu Jul 31, 2014 12:22 am
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