INVESTMENT

UBS named Oswald Gruebel, who masterminded a turnaround at rival Credit Suisse, as chief executive on Thursday, replacing under-fire Marcel Rohner as it struggles to end a run of crises.

The government must swiftly begin spending $83 billion in the stimulus law for cleantech, or recent growth in the sector will quickly turn into bankruptcies, according to a study released on Tuesday.

UBS AG shares fell to a new all-time low on Tuesday after news the Swiss bank will have to wait until July to fight in court a U.S. bid to force it to disclose client names in a tax fraud probe.

UBS AG may face a mini-trial in a U.S. court in July as it fights efforts to force it to disclose the names of 52,000 U.S. clients suspected of offshore tax evasion, the New York Times reported on Tuesday. UBS, the world's largest banker to the rich, agreed last week to pay a $780 million fine and disclose the identity of about 300 of its U.S. clients to avert crimi...

A judge on Monday ruled that former Merrill Lynch & Co Chief Executive John Thain is free to disclose the names of individuals who received bonuses awarded by the former investment bank before it was bought by Bank of America Corp.

The Obama administration has added Wall Street expertise to its team overseeing the restructuring of General Motors and Chrysler, naming Steven Rattner as adviser to Treasury Secretary Timothy Geithner.

JPMorgan Chase & Co , the second-largest U.S. bank, slashed its common stock dividend 87 percent on Monday, a surprise move by a lender considered among the strongest in the U.S. financial sector. The bank also said it has been solidly profitable this quarter, and that the outlook for the three-month period is roughly in line with analyst forecasts. Shares rose 5.5 percen...

JPMorgan Chase & Co, the second-largest U.S. bank, slashed its common stock dividend 87 percent on Monday, a surprise move by a lender considered among the strongest in the U.S. financial sector.

namely, to help stabilize the banking system and economy. The bank said it hopes to return to a more normalized dividend as soon as feasible once the environment stabilizes. Bank of America Corp and Citigroup Inc , JPMorgan's largest rivals, have slashed their dividends to a penny per share since November. Shares of JPMorgan fell 30 cents to $19.21 in after-hour...

Wall Street slumped to a 12-year low on Monday as investors lost faith that the U.S. government will be able to stabilize the financial system. The S&P 500 and the Dow both posted their lowest closes since the spring of 1997 as reports the government may convert its stake in Citigroup into a big common stock holding fell short of what many see as necessary to fix big banks. It is generally...

Even if the government took a large common equity stake in Citigroup Inc, worries would likely persist about the bank's ability to absorb soaring losses in a deepening recession. The third-largest U.S. bank by assets is in talks with federal regulators on a plan for the government to increase its stake, a person familiar with the matter said. Converting $45 billion of preferred stock, which the ...

American Express Co., battered by mounting credit card losses, is offering $300 to a limited number of U.S. card holders who pay off their balances and close their accounts, the company said on Monday.

Even if the government takes a large common equity stake in Citigroup Inc, worries are likely to persist about the bank's ability to absorb soaring losses in a deepening recession.

The Dow and the S&P 500 stock indexes rose on Monday as investors took reports that Washington could convert its holding in Citigroup to a larger stake as a sign that it is ready to forestall further paralysis of the financial system. But with investors snapping up beaten-down financial shares, money moved out of the technology sector, causing the Nasdaq to drift into negative ter...

Stocks headed for higher open on Monday as investors took reports that Washington could take a bigger stake in Citigroup as the surest sign yet that it is ready to avert further paralysis of the financial system. A report in the Wall Street Journal said the U.S. government may end up holding as much as 40 percent of Citigroup's common stock. Last week shares of Citigroup and Bank of...

Stocks headed for higher open on Monday as investors took reports that Washington could take a bigger stake in Citigroup as the surest sign yet that is ready to avert further paralysis of the financial system. A report in the Wall Street Journal said the U.S. government may end up holding as much as 40 percent of Citigroup's common stock. Last week shares of Citigroup and Bank of A...

Citigroup Inc is in talks to give the U.S. government a larger stake, a person familiar with the matter said, which could provide the government with a far greater say in the affairs of the ailing banking giant.

Stock index futures rose on Monday as investors took reports that the U.S. government could take a bigger stake in Citigroup as signaling it is ready to avert further paralysis of the financial system. A report in the Wall Street Journal said the government may end up holding as much as 40 percent of Citigroup's common stock. Last week shares of Citigroup and Bank of America

Investors queuing to pour cash into discounted corporate debt are in for a risky ride as hedge funds continue to dump assets on the market and default rates have yet to peak.

Shares in Switzerland's largest bank, UBS, fell to a new all-time low on Monday after the lender's top executives met with a barrage of criticism for the way they handled a U.S. probe into tax fraud.

Stock index futures pointed to a higher open on Wall Street on Monday, as stocks bounced back from last week's steep losses on easing worries that Washington would have to nationalize embattled banks.