Dennis Gartman, editor and publisher of "The Gartman Letter", discusses news that UBS has poached a team of oil and gas investment bankers from Bank of Montreal.» Read More
Despite markets' downtrends, Julius de Kempenaer from Talergroup said the worst is over for the financial sector.
Citigroup will buy back more than $7 billion in auction-rate securities and pay $100 million in fines as part of settlements with federal and state regulators, who said the bank marketed the investments as safe despite liquidity risks.
Stocks ended near session lows as oil ended above $120 a barrel and two Dow components missed the Street's targets.
A lawsuit against UBS alleging that the Swiss bank engaged in fraud related to holdings of a fund in loss-making company Endwave was dismissed by a New York Supreme Court judge, court documents showed.
Merrill Lynch's latest effort to shed its subprime debt could set the standard for a final round of writedowns in the financial sector.
New York Attorney General Andrew Cuomo filed a civil lawsuit on Thursday against UBS, accusing the Swiss bank of steering customers into auction-rate securities that this year became impossible to cash out of amid the credit crunch.
This is not a good day for consumer discretionary stocks. From housing to restaurants to hotels to autos, companies are reporting notably slower sales, and they are not anticipating much of a rebound in the second half of the year.
New York attorney general Andrew Cuomo is preparing to file civil securities-fraud charges against UBS, possibly as early as this week, the Wall Street Journal said on Wednesday.
Securities regulators from several states raided the St. Louis headquarters of Wachovia Securities, part of Wachovia, as part of a broad investigation into questionable practices involving auction rate securities, Missouri officials said.
Swiss bank UBS will discontinue offshore banking and securities services to U.S. residents through its branches, a UBS executive said Thursday at a congressional hearing on offshore tax havens.
British mortgage bank Bradford & Bingley won shareholder backing for a 400 million pound rights issue rescue but not until executives were quizzed on the troubled fundraising and the lender's future.
A U.S. Senate subcommittee accused banks in Switzerland and Liechtenstein of helping wealthy Americans evade billions in taxes each year, and urged the establishment of tougher laws to combat offshore tax havens around the world.
The SEC issued its emergency ruling against naked short-selling Tuesday to build investor confidence regarding market information, SEC Chairman Christopher Cox told CNBC.
Wilbur L. Ross Jr. made an $80 million investment in the flailing Indian airline SpiceJet, saying that high oil prices are a bubble that should pop in the next 12 months.
U.S. securities regulators issued an emergency rule Tuesday to limit certain types of short selling in major financial firms, including Fannie Mae and Freddie Mac.
You thought IndyMac was it? Nope. Here's your how-to for getting through.
Fearing the two largest U.S. mortgage finance companies need a government bailout, investors pushed stocks lower Friday. What's the "Word On The Street?"
Swiss authorities could require UBS and Credit Suisse to set aside an additional 70 billion Swiss francs ($68.29 billion) in capital, a newspaper reported on Sunday, citing lawmakers.
Battered Swiss bank UBS said on Friday it should be saved from another hefty loss in the second quarter by a large tax credit, but its shares, after a short-lived boost on the news, fell back after a Moody's downgrade.
The Dow Jones Industrial Average shed 1.5 percent, ending the day firmly in bear-market territory. GM took a hit as one analyst raised the prospect of bankruptcy. Lehman Brothers rose.