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UBS AG

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  • Nov 6- Bank of America Corp tripled its third-quarter loss to $232 million as it faced additional legal costs related to global investigations into foreign exchange trading at major banks. Bank of America said it was in advanced discussions with U.S. banking regulators to resolve matters related to the business. JPMorgan Chase& Co, Citigroup Inc, HSBC Holdings...

  • WASHINGTON, Nov 4- U.S. prosecutors did not present enough hard evidence to link a former top UBS AG banker to subordinates' schemes to help wealthy Americans hide $20 billion in secret accounts from tax authorities, jurors from the trial told Reuters on Tuesday. A federal jury in South Florida on Monday took a little over one hour to acquit Raoul Weil, who headed the...

  • Offshore tax shelter stunner  Tuesday, 4 Nov 2014 | 4:27 PM ET

    Insight to the tax evasion trial where former top executive for Swiss bank UBS AG was acquitted, with the banker Raoul Weil's lawyer Aaron Marcu of Freshfields Bruckhaus.

  • UBS banker not guilty of tax evasion  Tuesday, 4 Nov 2014 | 4:25 PM ET

    CNBC's Eamon Javers reports a jury has acquitted a former top executive at Swiss bank UBS AG Raoul Weil on tax evasion charges.

  • FORT LAUDERDALE, Fla., Nov 3- A former top banker who headed global wealth management at UBS AG was found not guilty on Monday on U.S. charges of conspiring with wealthy Americans to hide $20 billion in secret offshore accounts. Raoul Weil, the highest-ranking Swiss banker to stand trial in the United States, was accused in South Florida federal court of conspiracy...

  • FORT LAUDERDALE, Fla., Nov 3- A former top banker who headed global wealth management at UBS AG was found not guilty on Monday in South Florida federal court of conspiracy to defraud the IRS. Raoul Weil, 54, is the highest-ranking Swiss banker to stand trial in the United States and was accused by prosecutors of conspiring to help wealthy U.S. tax cheats hide $20...

  • Nov 3- An investor who alleges he lost more than $400,000 in Puerto Rico closed-end bond funds sold by a UBS AG unit has sued Puerto Rico's financial regulator, challenging the transparency of its $5.2 million settlement with the firm. Manuel Martínez-Umpierre, a client of UBS Financial Services Inc of Puerto Rico, asked a local court on Friday to order the...

  • HSBC sets aside $378M for forex investigation Monday, 3 Nov 2014 | 4:22 AM ET

    HSBC confirmed it had set aside $378m for fines relating to suspected manipulation of foreign exchange markets, amid ongoing talks with U.K. regulators.

  • NEW YORK, Oct 31- A divided U.S. appeals court rejected UBS AG's bid to force Nasdaq OMX Group Inc to arbitrate a dispute over the exchange operator's alleged "catastrophic mismanagement" of Facebook Inc's $16 billion initial public offering. The 2nd U.S. Circuit Court of Appeals in New York on Friday said UBS' agreement with Nasdaq to help make a market for Facebook...

  • HSBC to set aside $640M for forex probe Friday, 31 Oct 2014 | 10:46 AM ET

    HSBC is expected to set aside about $640 million to cover the cost of an investigation into suspected manipulation of FX markets. The FT reports.

  • JAKARTA, Oct 31- Indonesia's mining-to-telecoms conglomerate Bakrie Group will negotiate with creditors to restructure part of its $8 billion in debt rather than sell major assets, people familiar with its strategy say. Some creditors sued one Bakrie company in New York while a Jakarta supplier has asked an Indonesian court to supervise a debt...

  • NEW YORK, Oct 30- U.S. stock index futures pointed to a slightly lower open on Thursday despite a reading on third-quarter economic growth that was stronger than expected. Gross domestic product grew at a 3.5 percent annual rate in the third quarter, beating expectations for a pace of 3 percent, though down from the 4.6 percent rate in the second quarter.

  • NEW YORK, Oct 30- U.S.-listed shares of major European banks were among the biggest movers of the premarket session on Thursday, continuing to see weakness ever since the results of the European Central Bank's stress tests were published over the weekend. The Euro STOXX banking index fell 2.9 percent and is down 6.6 percent so far this week, putting the index on...

  • Europe closes firmly higher; Sanofi plummets Tuesday, 28 Oct 2014 | 1:09 PM ET

    European stocks ended the day firmly in positive territory on Tuesday, as investors prepared for a key monetary policy decision from the U.S.

  • UBS warns on $1.9B litigation charges Tuesday, 28 Oct 2014 | 3:21 AM ET
    A delivery man passes in front of a UBS logo in New York.

    UBS posted forecast-beating net profits of $802 million but warned on litigation charges of $1.9 billion.

  • Geopolitics concerning clients: UBS CEO  Tuesday, 28 Oct 2014 | 2:40 AM ET

    Sergio Ermotti, CEO of UBS, says geopolitical issues need to be resolved before clients come back to the market with a "constructive attitude".

  • We take a 'proactive' stance on litigation: UBS CEO  Tuesday, 28 Oct 2014 | 2:40 AM ET

    Sergio Ermotti, CEO of UBS, says he is confident the bank has started to address the litigation issues but the timescale for resolution is out of his hands.

  • Stress tests 'credible and tough': UBS CEO  Tuesday, 28 Oct 2014 | 2:00 AM ET

    Sergio Ermotti, CEO of UBS, says the ECB's stress tests were "credible and tough", adding that the banking sector still faces "a lot of headwinds".

  • China is asserting control over local government financing by filling the gap with a huge expansion of the fledgling municipal bond market.

  • NEW YORK, Oct 17- UBS AG sued Croatia in New York federal court on Friday, claiming the republic owes it $45 million in principal and interest on defaulted debt assumed after the breakup of Yugoslavia. In 2001, the country's remaining external debt was divvied up among Croatia and the other successor states to Yugoslavia: Bosnia and Herzegovina, Macedonia,...