UBS will now plead guilty to rigging foreign currencies along with 4 other banks. Is a crackdown long overdue? With Andrew Stoltmann of Stoltmann Law Offices and Marc Lopestri of Lopresti Law Group.» Read More
Two of Europe's biggest investment banks, Switzerland's UBS and Deutsche Bank, moved to calm investors, telling them that they did not need extra cash to cope with the global markets crisis.
Stocks were back on the see-saw Wednesday, rising and falling with each new report or flinch in oil prices.
There's a good chance stocks could hold onto some of their positive tone Wednesday, and maybe even into Thursday, as traders search the rubble for bargains.
A federal judge in Miami authorized the Internal Revenue Service to request information from UBS about U.S. taxpayers who may be using Swiss bank accounts to evade federal income taxes, the U.S. Justice Department said Tuesday.
Stocks coasted to a positive finish, fueled by better-than-expected sales from General Motors, short covering and a pop in a manufacturing gauge, in what was a rollercoaster start to the first half.
It was a rocky start to the second half for Wall Street as the market digested a mixed bag of auto sales, a $2 jump in oil prices and an encouraging reading on manufacturing.
UBS failed to address nagging concerns about further possible writedowns on Tuesday, dishing out instead a restructuring of top management and sending shares to a fresh 10-year low.
Stocks had a wobbly start to the first half as a $3 jump in oil prices and selloff in European banks rippled through the market.
Stocks plunged at the opening bell as a $3 jump in oil prices and selloff in European banks rippled through the market.
Wall Street looks set to start July just like June -- with red arrows. U.S. stock index futures pointed to a lower start after wrapping up the worst first-half of the year since the first half of 1970 on Monday.
Fortune Brands is down 6 percent after lowering their earnings guidance for Q2 and the full year--yes that Fortune Brands that owns liquor (Jim Beam, Maker's Mark, Canadian Club, Sauza, Courvoisier), golf equipment (Titleist, Cobra), and home products (Moen, MasterBrand cabinets).
The U.S. Justice Department said it asked a federal court in Miami for an order authorizing the Internal Revenue Service to request information from Zurich-based UBS about U.S. taxpayers who may be using Swiss bank accounts to evade federal income taxes.
The Dow industrials moved higher, backing away from bear-market territory, as oil prices pulled back.
Investors took fright on Monday that UBS could face further losses and sent it stocks tumbling to a 10-year low after news the Swiss bank might sell off the heart of its U.S. wealth management business.
Beleaguered Swiss bank UBS is considering the sale of Paine Webber, the heart of its U.S. wealth management business, according to sources with direct knowledge of the matter.
Massachusetts authorities sued two subsidiaries of Swiss bank UBS Thursday, charging they misled investors about how safe auction rate securities were.
The Dow closed lower on Tuesday with stocks slipping on concerns about the economy after consumer confidence fell to a 16-year low. What's the "Word on the Street?"
1) Reliance Steel just jumped 5 percent as they updated guidance, raising it 30 percent from previous guidance, due to much higher increases in carbon steel prices.
Banc of America Securities expects Merrill Lynch and UBS to write down $3.5 billion and $7 billion respectively in the second quarter and forecast a quarterly loss for the investment banks.
Following are the day’s biggest winners and losers. Find out why shares of Petrochina and AIG popped while Sirius and UBS dropped.