UBS AG (NYSE: UBS; SWX: UBSN; TYO: 8657) is a diversified global financial services company, with its main headquarters in Basel and Zürich, Switzerland. It is the world's second largest manager of private wealth assets,  and is also the second-largest bank in Europe, by both market capitalisation and profitability. UBS has a major presence in the United States, with its American headquarters located in New York City (Investment banking); Weehawken, New Jersey (Private Wealth Management); and Stamford, Connecticut (Capital markets). UBS's retail offices are located throughout the U.S., and in over 50 other countries. UBS is an abbreviation, which originated from a predecessor firm, for the Union Bank of Switzerland; however, UBS ceased to be considered a representational abbreviation after its 1998 merger with Swiss Bank Corporation.

Draghi's ECB Announcement - Spain A Stealth Loser, Italy A Silent Winner

While pundits and analysts dissected a myriad angles regarding the ECB's proposal, one lesser-considered issue has been how, following the announcement of the plan Thursday, it increasingly seemed Spain was being given the short end of the stick, while Italy was being favored, by the announcement.

Knight Accepts Nasdaq's $62 Million Facebook Payback Plan

After initially criticizing Nasdaq OMX Group for its response to Facebook's botched initial public offering, trading firm Knight Capital Group Inc said it accepted the exchange's latest plan to pay back brokers a portion of their losses.

Facebook Market Makers Losing At Least $100 Million

Claims by four of Wall Street's main market makers against Nasdaq over Facebook's botched IPO are likely to exceed $100 million, as they and other traders continue to deal with thousands of problems with customer orders.

BlackRock Buys Stake in Formula 1 Ahead of Singapore IPO

Formula 1, the popular global auto racing sport, is on its way to a possible IPO as financial investors such as Waddell & Reed Financial Inc. (NYSE: WDR), Norges Bank Investment Management and BlackRock, Inc. (NYSE: BLK) bought 21 percent of the company, CVC Capital Partners, owner of Formula 1, confirmed Tuesday.

UBS Q1 Profit Declines 54% On Debt Charges

Swiss banking giant UBS reported on Wednesday that its profit for the first quarter declined 54 percent from the same period last year after being affected by charges on its debt.


Indian woman tries on gold jewelry

India To Double Its Gold Import Duty

India, the world's No. 1 gold buyer, plans to double the duty on imports of the precious metal, according to reports Friday, its second such move this year. Gold prices fell nearly 1 percent.
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UBS Loses Case to Recoup Bonus from Ex-Broker

A former broker of a UBS AG unit can keep $1 million of a signing bonus he received when joining the firm, despite leaving earlier than terms of the bonus required, according to a ruling by an arbitration panel.

Major Layoff Announcements in 2012 [SLIDESHOW]

Unless you have been living under a rock for the last couple of years, you'll know that companies big or small have been constantly axing jobs across the board. Which companies are axing jobs in 2012?
UBS trader Kweku Adoboli leaves City of London magistrates' court in London

Ex-UBS Trader Refused Bail as Bank Probe Deepens

Former UBS AG trader Kweku Adoboli, who is accused of unauthorized deals that cost the Swiss bank $2.3 billion, was refused bail by a London court on Friday less than an hour after regulators stepped up their probe into the scandal.