International Business News - UBS http://www.ibtimes.com All articles are copyrighted by IBTimes.com 400 100 http://www.ibtimes.com/ http://www.ibtimes.com/images/top_logo_ibt2_3.gif UBS AG, Switzerland's largest bank, said Tuesday that Saudi authorities have conditionally approved the Swiss bank's plans to set up operations in the kingdom. http://www.ibtimes.com/articles/20080708/swiss-bank-ubs-expands-mideast-operation.htm Tue, 08 Jul 2008 15:46:01 EDT Though economic uncertainty has stymied activity in the initial public offering market, Credit Suisse Securities, Merrill Lynch & Co. and Wachovia Securities each managed to complete 10 deals during the first half of the year, more than any other underwriter. http://www.ibtimes.com/articles/20080707/ipo-spotlight-1st-half-underwriter-rankings.htm Mon, 07 Jul 2008 15:45:48 EDT UBS AG, Switzerland's largest bank, said Friday it expects its second-quarter results to be "at or slightly below break-even" due to a tax credit that will at least partly offset investment losses. It also said it won't need to ask for more capital when it reports the results next month. http://www.ibtimes.com/articles/20080704/ubs-may-post-small-loss-for-2q.htm Fri, 04 Jul 2008 13:48:07 EDT European markets fell and Asian markets were mixed Friday as investors digested uneven readings on the U.S. economy and oil prices that remained near records. Japan posted its 12th straight day of losses. http://www.ibtimes.com/data/articleimgs/85584-japan-markets.jpg http://www.ibtimes.com/articles/20080704/asia-markets-mixed-as-nikkei-falls-again.htm http://www.ibtimes.com/articles/20080704/asia-markets-mixed-as-nikkei-falls-again.htm Fri, 04 Jul 2008 13:29:53 EDT Mortgage investor Impac Mortgage Holdings Inc. said Thursday it has refinanced an outstanding repurchase financing facility, replacing it with a term loan from UBS Real Estate Securities Inc. http://www.ibtimes.com/articles/20080703/impac-mortgage-refinances-credit-facility.htm Thu, 03 Jul 2008 14:18:51 EDT A former broker with UBS AG filed a whistle-blower complaint alleging the firm forced him to resign after he cooperated with state regulators investigating sales of risky investments to Massachusetts cities and towns. http://www.ibtimes.com/articles/20080703/ex-ubs-broker-files-whistle-blower-complaint.htm Thu, 03 Jul 2008 13:55:07 EDT Shares of Barclays PLC and UBS AG trading in the United States helped pull down an index of European ADRs Tuesday, after a boardroom reshuffle and buyout rumors. http://www.ibtimes.com/articles/20080701/adrs-in-focus-europe-slides-with-ubs-barclays.htm Tue, 01 Jul 2008 15:03:37 EDT A unit of Swiss bank UBS AG spent $170,000 in the first quarter lobbying the U.S. government, according to a recent disclosure form. UBS Americas Inc. lobbied on mortgage reform, tax issues and international trade regulations, according to the form posted online April 18 by the House clerk's office. http://www.ibtimes.com/articles/20080701/ubs-spent-170-000-lobbying-in-first-quarter.htm Tue, 01 Jul 2008 11:44:27 EDT Shares of UBS AG declined at the opening bell Tuesday after the Swiss bank said it was reshuffling its board of directors in the wake of heavy losses from the U.S. subprime mortgage crisis. http://www.ibtimes.com/articles/20080701/out-of-the-gate-ubs-sinks-on-board-reshuffle.htm Tue, 01 Jul 2008 10:01:05 EDT Financial stocks sagged in premarket trading Tuesday, as the first day of trading in the second half appears headed in the same direction that nearly led to a bear market over the first six months of the year. http://www.ibtimes.com/articles/20080701/premarket-movers-financial-stocks-head-lower.htm Tue, 01 Jul 2008 09:23:27 EDT UBS AG announced a major boardroom reshuffle Tuesday, the second since the Swiss banking giant suffered heavy losses as a result of the U.S. subprime crisis. http://www.ibtimes.com/articles/20080701/ubs-announces-major-boardroom-reshuffle.htm Tue, 01 Jul 2008 14:38:58 EDT A federal judge agreed Tuesday to allow the IRS to serve legal papers on Swiss banking giant UBS AG in an expanding investigation into U.S. taxpayers who may have used overseas accounts to hide assets and avoid taxes. http://www.ibtimes.com/articles/20080701/justice-seek-more-information-from-swiss-bank.htm Tue, 01 Jul 2008 22:09:56 EDT The Justice Department said Monday that it is seeking information from Swiss bank UBS AG about U.S. taxpayers who may have used offshore accounts to avoid paying federal income taxes. http://www.ibtimes.com/articles/20080630/justice-to-seek-more-information-from-swiss-bank.htm Mon, 30 Jun 2008 19:29:28 EDT Shares in Swiss bank UBS sank 5.5 percent Monday on fears that it may announce more write-downs for the second quarter. Swiss newspaper reports over the weekend said the bank would not issue a profit warning for its second quarter, indirectly confirming market expectations that UBS AG will report a net loss of 1 to 5 billion francs ($980 million-$4.9 billion) for the second quarter on Aug. 12. http://www.ibtimes.com/articles/20080630/ubs-shares-slump-on-talk-of-more-write-downs.htm Mon, 30 Jun 2008 12:09:51 EDT Shares of The Finish Line Inc. jumped 18 percent Friday morning, a day after the company beat Wall Street expectations by reporting a fiscal first-quarter profit. http://www.ibtimes.com/articles/20080627/finish-line-shares-rise-on-strong-earnings-report.htm Fri, 27 Jun 2008 12:43:24 EDT Massachusetts regulators filed civil fraud charges Thursday against UBS Financial Services for allegedly selling investments it knew were extremely risky, but portrayed as safe. http://www.ibtimes.com/articles/20080626/mass-regulators-file-fraud-charges-against-ubs.htm Thu, 26 Jun 2008 21:51:02 EDT U.S. shares of European banks moved higher Wednesday after Barclays Group PLC said it plans to raise $8.85 billion by selling new stock. The London-based company said the move will strengthen its financial position and help Barclays take advantage of turmoil in the financial markets. Investment groups from Qatar, Japan, Singapore and China have agreed to make significant investments in the company. http://www.ibtimes.com/articles/20080625/adrs-in-focus-european-bank-stocks-move-higher.htm Wed, 25 Jun 2008 15:34:07 EDT Financial services firm Wilmington Trust Corp. said Wednesday it will acquire UBS Fiduciary Trust Co., a unit of UBS AG. Financial terms of the all-cash deal were not disclosed. http://www.ibtimes.com/articles/20080625/wilmington-trust-acquiring-unit-of-ubs.htm Wed, 25 Jun 2008 08:24:28 EDT Shares in UBS AG rose by up to 4.3 percent Tuesday on rumors of a possible takeover of the Swiss bank and the announcement it is buying a Dutch wealth management company. http://www.ibtimes.com/articles/20080624/ubs-shares-rise-on-takeover-rumors.htm Tue, 24 Jun 2008 14:22:52 EDT Wall Street ended an erratic session moderately lower Tuesday as concerns grew about the impact of high fuel costs on consumers and corporate profits. Treasury prices rose on the economic uncertainty. http://www.ibtimes.com/data/articleimgs/78118-wall-street.jpg http://www.ibtimes.com/articles/20080624/stocks-head-for-lower-open-ahead-of-fed-meeting.htm http://www.ibtimes.com/articles/20080624/stocks-head-for-lower-open-ahead-of-fed-meeting.htm Tue, 24 Jun 2008 17:38:37 EDT