Credit Suisse Stories
UBS to cut 240 jobs in Asia-Pacific
UBS , the world's biggest banker for the rich, will cut 240 jobs in Asia-Pacific across all business lines as part of a global cost cutting exercise, the bank said on Tuesday.
Alleged $470 Million Youtube Loss will be cleared this week
An estimated half billion loss at YouTube was predicted by an analyst with Credit Suise because it can't generate worthwhile income from advertising will be cleared next week as Google plans to hold a quarterly conference.
UBS to announce more job cuts soon: media
Swiss bank UBS will announce more job cuts soon, with staff in Switzerland and departments like marketing to be hit hard, newspapers reported on Sunday.
Credit Suisse starts shutting U.S. offshore accounts: report
Swiss bank Credit Suisse has started closing down the offshore accounts of U.S. clients who have not declared the money to the U.S. authorities, a newspaper reported on Sunday.
HSBC sees tipping point in hedge fund outflows
HSBC Global Asset Management says it is finally seeing inflows into some of its hedge funds and believes it may have reached a tipping point after a tough period of client withdrawals.
Apple shares rise as analyst bossts price target, revenue estimate
Credit Suisse analyst William Shope wrote Thursday in a note to clients that demand for Apple Inc products – such as Mac and iPhone - was higher than expected and raised his price target for the stock.
S&P and Nasdaq up 3 percent
Stocks added to gains on Thursday, sending the S&P 500 and Nasdaq up more than 3 percent, as surprisingly upbeat preliminary quarterly results from Wells Fargo fueled hopes that stabilization may be returning in the banking sector.
Alleged $470 Million Youtube Loss will be cleared next week
An estimated half billion loss at YouTube was predicted by an analyst with Credit Suise because it can't generate worthwhile income from advertising will be cleared next week as Google plans to hold a quarterly conference.
Cisco eyes acquistions as Goldman downgrades
Cisco Systems said Monday it will be ‘active’ with acquisitions despite the economic downturn, but its shares were thrashed by downgrades.
Rio Tinto lines up $8 billion rights issue: report
Mining giant Rio Tinto has drawn up contingency plans to raise $8 billion in a rights issue underwritten by JP Morgan Cazenove and Credit Suisse, the Sunday Times reported without citing sources.
Re-default data shows Obama housing plan potential
More than 58 percent of U.S. home loans modified in 2008 did not result in a decreased monthly payment, and those modifications often did not produce sustainable mortgages, according to a report released on Friday.
Dow Chemical upgraded, rise after Morton Salt Sale
Shares of Dow Chemical Co. jumped Thursday, the day after the company closed on its $16.5 billion buyout of Rohm & Haas and immediately sold Rohm's Morton Salt division to cut its debt load.
Changyou.com prices $120 million IPO at top
Chinese online gaming firm Changyou.com Ltd priced its $120 million Nasdaq IPO at the top of its indicated range on healthy investor demand -- a rare sign of life in a long-moribund market for new issuance.
Swiss Re to cut 10 percent of headcount
Swiss Re , the world's second-larger reinsurer, said on Thursday it plans to cut 10 percent of its workforce over the next 12 months in a bid to cut costs by 400 million Swiss francs ($349.6 million) by 2010.
UBS hires ex-Credit Suisse exec to cut costs
UBS AG's new chief executive hired a former colleague from rival Credit Suisse on Wednesday to lead a cost-cutting drive at the loss-making Swiss bank.
UBS hires Credit Suisse exec to lead efficiency drive
Swiss bank UBS AG appointed former Credit Suisse executive Ulrich Koerner as chief operating officer to oversee a drive to centralize group services, aiming to cut costs and boost profits.
Global banks to write down $17 bln more: JP Morgan
J.P. Morgan Securities forecast global wholesale and investment banks to incur additional pretax writedowns of $17 billion for the rest of 2009 to reach mark-to-market valuations of structured credit assets.
UBS Down As Worries of Profit More Cuts seen, analyst
Switzerland's UBS, the world's largest wealth manager, had written down more than $49 billion since mid-2007, and it expects more write downs and job cuts in the first quarter.
Fresh writedowns, more job cuts seen at UBS
Switzerland's UBS is expected to announce more writedowns and job cuts in the coming days, Swiss newspaper Sonntag reported on Sunday.
KB Home posts narrower loss, shares rise
KB Home posted a quarterly loss that was not as bad as Wall Street had expected, as orders rose and the builder took a smaller charge to write down the value of its landholdings, sending shares up as much as 12 percent.
Morgan Stanley recovers lost ground in M&A rankings
In a dry quarter for deals, two massive pharmaceutical transactions helped catapult Morgan Stanley to the top of the league in global adviser rankings, bringing it up from the tenth spot a year earlier.
UBS shareholders called on to reject new pay system
Shareholder advocacy group Ethos on Wednesday called for UBS shareholders to reject a new pay system at an AGM on April 15, saying it could still lead to big bonuses that drive risk taking.
UBS lays off Singapore team serving rich Turks: sources
UBS , the world's biggest wealth manager, has axed a team of six private bankers in Singapore, who were managing wealth for Turkish clients, sources familiar with the situation told Reuters on Monday.
UBS lays off six private bankers in Singapore: sources
UBS , the world's biggest wealth manager, has laid off a team of six private bankers in Singapore who were managing wealth for Turkish clients, sources told Reuters on Monday.
Boutiques, hedge funds lure cream of global banking
Boutique investment firms and top hedge funds are slowly lapping up the cream of global banking talent as the financial crisis forces banks to cut staff and limit the pay of their top risk-takers.
U.S. credit card defaults rise to 20 year-high
U.S. credit card defaults rose in February to their highest level in at least 20 years, with losses particularly severe at American Express Co and Citigroup amid a deepening recession.
Credit card companies slash rewards to cushion losses
Not long ago, Americans were being offered as much as $100 just to sign up for a credit card. Now, up to $300 is being dangled as an incentive for them to give up their plastic. U.S. credit card issues are slashing rewards, raising interest rates and increasing fees as loan losses mount.
Renault, Peugeot rise on talk of merger
Shares in French carmakers Renault and PSA Peugeot Citroen rose sharply on Wednesday on market talk of a merger between the groups, traders said, as Renault denied the rumor.
UBS ups 2008 net loss to $18 billion
UBS said earnings would remain at risk due to its exposure to illiquid and choppy markets, as it revised up its 2008 net loss, the biggest in Swiss corporate history, to include a large U.S. tax fine and extra writedowns.
Amazon starts game trades in challenge to GameStop
Amazon.com Inc will allow shoppers to trade in used video games for store credit, a move that may challenge a core driver of profitability for No. 1 U.S. game retailer GameStop Corp.