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  • 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

    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.

  • Not so fast, Cramer says. Plus his thoughts on American Superconductor, UBS and more.

  • For the week ending Friday, May 9, 2008, the U.S. Markets were negative for the week, with the Dow falling more than 200 points on Wednesday, making it the biggest point drop since 4/11/08. 

  • Stocks bounced back from the prior session's slide, led by techs and materials, as techs staged a rebound and materials benefited from higher metal prices. Better-than-expected retail sales also buoyed the market.  Financials declined after federal regulators proposed increased oversight of investment banks.

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    Two billion dollars was pulled out of UBS's wealth management division in the first quarter. It's difficult to say how much of the loss stemmed from the subprime crisis, but smaller banks in Switzerland have been picking up business from the troubled market leader.

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    The U.S. credit crisis is easing and the risk in housing is dramatically lower now, but economic growth will remain under pressure , the CEO of Merrill Lynch said.

  • A senior UBS employee was briefly detained by U.S. authorities in April as part of an investigation into the bank's cross-border business, the Swiss bank said on Wednesday.

  • Stocks closed higher as optimism prevailed, even in the face of $122-a-barrel oil. Techs got a boost from speculation that a deal between Microsoft and Yahoo is still possible.

  • Stocks declined as oil surpassed $122 a barrel and Fannie Mae delivered disappointing results.

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    Swiss bank UBS will cut almost 7 percent of its workforce and said it has a preliminary deal with  BlackRock to sell a $15 billion portfolio of subprime mortgages.

  • Stocks declined as oil surpassed $122 a barrel and Fannie Mae delivered disappointing results.

  • Stocks opened lower Tuesday as oil again topped $121 a barrel and Fannie Mae posted a third straight quarterly loss.