UBS AG Chief Executive Oswald Gruebel sent a memorandum to the bank's top executives on Thursday saying the bank could not comply with a U.S. government request to disclose the identity of 52,000 secret account holders, a source familiar with the situation told Reuters.
U.S. stock index futures pointed to a lower open on Friday after Chevron Corp warned about its second-quarter earnings, raising the specter of a weaker-than-expected second-half economic recovery and anemic corporate profits.
* U.S. stock index futures pointed to a lower open on Wall Street on Friday, as investors turned cautious after oil major Chevron Corp warned over its second-quarter earnings.
U.S. Treasury Secretary Timothy Geithner is set to propose on Friday giving securities and futures regulators authority to police the over-the-counter derivatives market, according to a document obtained by Reuters.
UBS cannot comply with a U.S. request to disclose the identity of 52,000 U.S. secret account holders, the bank's chief executive Oswald Gruebel said in an internal memorandum, according to a source familiar with the situation.
UBS AG Chief Executive Oswald Gruebel sent a memorandum to the bank's top executives on Thursday saying the bank could not comply with a U.S. government request to disclose the identity of 52,000 secret account holders, a source familiar with the situation told Reuters.
(Corrects spelling of UBS chief executive throughout to 'Gruebel' from 'Grubel')
UBS AG Chief Executive Oswald Grubel sent a memorandum to the bank's top executives on Thursday saying the bank could not comply with a U.S. government request to disclose the identity of 52,000 secret account holders, a source familiar with the situation told Reuters.
Citadel Investment Group, one of the world's most successful hedge fund firms, sued a former top executive in its highly successful quantitative trading unit and two others for setting up their own firm.
Private equity firm Cerberus is to place investors seeking withdrawals from one of its hedge funds into a special purpose vehicle which would make cash distributions over time, a source familiar with the contents of a recent investor letter said on Thursday.
Stocks edged higher on Thursday as investors bought beaten-down technology and commodity shares, while a positive broker comment on Goldman Sachs boosted the financial sector.
U.S. stocks rose on Thursday as investors snapped up beaten-down technology and commodity shares, while a positive broker comment on Goldman Sachs boosted the financial sector.
For the first time since January, the number of Americans filing for unemployment claims fell in the past week according to reports from the Labor Department. The number of initial claims in the week ending July 4 fell 52,000 to 565,000.
Singapore's state investor Temasek TEM.UL is in talks with a unit of Bank of China to launch a $1 billion to $2 billion investment fund to focus on fast-growing infrastructure projects across China, sources said on Thursday.
The U.S. Treasury Department on Wednesday named nine fund managers to run so-called public-private partnerships that could buy up as much as $40 billion of toxic securities from banks.
U.S. stock index futures pointed to a higher open on Thursday after jobless claims dropped and better-than-expected Alcoa results gave a positive tone to the start of the second-quarter earnings season.
U.S. stock index futures pointed to a higher open on Thursday after Alcoa posted better-than-expected quarterly results and gave a positive tone to the start of the second-quarter earnings season.
Investors bet on Thursday the United States would not go as far as shutting down UBS there in a dispute over tax, instead expecting the Swiss bank to be hit by a hefty fine as part of a swift out-of-court settlement.
A judge ordered the U.S. government to say whether it was prepared to shut Swiss bank UBS AG in the United States as part of a battle to learn the identity of 52,000 secret accounts suspected of being used by Americans to avoid taxes.
Senators Harry Reid, Robert Menendez and Orrin Hatch, accompanied by Texas oilman T Boone Pickens on Wednesday introduced newly proposed a Natural gas legislation. The G8 agreed on Wednesday to try to limit global warming to 2 degrees Celsius. The head of the American Petroleum Institute Jack Gerard called for more drilling to bring additional domestic energy supplies to the marketplace
The Federal Reserve today released the consumer credit report for May indicating a slight decline of $3.23 billion indicating a decline for the fourth consecutive month. The May consumer credit outstanding fell at a 1.5 percent annual rate to $2.5196 trillion from $2.5229 trillion in Apri
Senators Harry Reid, Robert Menendez and Orrin Hatch, accompanied by Texas oilman T Boone Pickens on Wednesday introduced newly proposed legislation called the New Alternative Transportation Act (NAT GAS) that will encourage the development and purchasing of natural gas vehicles.
