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
The Dow plunged more than 400 points as the sharpest jump in the unemployment rate in more than 20 years and rocketing oil prices sparked concerns about stagflation. Oil jumped more than $11 a barrel to close at a record $138.54.
Stocks plunged as the sharpest jump in the unemployment rate in more than 20 years and rocketing oil prices sparked concerns about stagflation. Oil jumped more than $11 a barrel to close at a record $138.54.. Chevron was the lone star on the Dow. Nat Semi jumped -- a rare feat on this landslide day -- after the chip maker posted better-than-expected earnings.
Stocks plunged after the sharpest jump in the unemployment rate in more than 20 years and news that wholesale inventories ballooned. Oil jumped $6 a barrel. Chevron was the lone star on the Dow. Nat Semi jumped -- a rare feat on this landslide day -- after the chip maker posted better-than-expected earnings.
Stocks opened lower after the May jobs report showed a sharp jump in the unemployment rate. Oil eclipsed $130 a barrel.
Under pressure from the authorities, UBS is considering whether to divulge the names of up to 20,000 of its well-heeled American clients, the NYT reports.
What are the options trades in Lehman Bros. stock saying about the brokerage's future?
Home prices in New York's Manhattan, which have been largely unscathed by the housing slump may start to come down as the credit crunch comes back to bite Wall Street bankers.
Lehman has slashed its risky debt holdings by as much as 25% and raised $8 billion in capital this year to shore up its balance sheet, according to an internal memo obtained by CNBC
Lehman shares rebounded sharply on news that a big bond fund manager is buying the firm's debt and some positive comments from other Wall Street firms.
Cash-strapped Americans are ringing up more purchases on their credit and debit cards, but there could be a steep price to pay ahead.
Top officials at BlackRock say the big investment management firm continues explore major investments in distressed assets--such as its recent purchase of $15 billion in mortgage securities from UBS--but the company is becoming more selective in recent weeks about where to place its bets, CNBC has learned.
We are down three out of four days and the uptrend that began with the March bottom has now been broken. Many financials like Lehman are already sitting at or near their March lows.
European shares ended lower on Monday, led by Swiss bank UBS on concerns about further asset writedowns.
Tomorrow a Société Générale special committee will unveil a long-awaited report into how one 31-year-old trader was able to build up €50 billion in long positions and then give everyone the impression his huge bets were low-risk.
Swiss bank UBS launched a deeply discounted rights issue worth 16 billion Swiss francs ($15.55 billion) on Thursday at a third below its latest market price in a bid to lure investors to repair its battered balance sheet.
The original bid for Alitalia by Air France-KLM was based on an oil price of $86 a barrel, according to the Deputy CEO of Air France, in an interview on CNBC Europe. Those talks were shelved a month ago, but at $120 to $130, the Deputy CEO said that Air France-KLM would have to come up with a more "difficult and demanding" business plan.
Citigroup is not interested in buying Lehman Brothers or UBS. Perhaps it's not that surprising a revelation from its Chairman Sir Win Bischoff, who in an interview with me for CNBC's 'The Leaders' is also anxious to play down suggestions that his and CEO Vikram Pandit's backgrounds in investment banking will lead to an elevation of that business within the American giant.
Sovereign wealth funds are not likely to try to take more control over Citigroup in exchange for their investment, but they have the right to meet with the bank's executives and be informed of its progress, Chairman Sir Win Bischoff told CNBC Europe.
UBS financed 75 percent of the funding used by U.S. asset manager Blackrock to buy a $15 billion portfolio of distressed U.S. real estate assets from UBS, the bank said on Wednesday.
U.S. prosecutors are expected to approach UBS with a subpoena for the names of rich American clients who may have used the Swiss bank's services to skirt income taxes, the Wall Street Journal said on Thursday, citing lawyers and others involved in the case.