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Stock Market & Financial Investment News

News Breaks
February 12, 2013
06:23 EDTUBS, AIGUBS fined GBP9.45M for failings in sale of an AIG fund
The Financial Services Authority has fined UBS AG (UBS) for failures in the sale of the AIG Enhanced Variable Rate Fund (AIG). These failures led to UBS customers being exposed to an unacceptable risk of an unsuitable sale of the Fund. UBS also failed to deal properly with complaints from customers about sales of the Fund. UBS agreed to settle at an early stage entitling it to a 30% discount on its fine. Were it not for this discount, the FSA would have imposed a financial penalty of GBP13.5M on UBS. Reference Link
News For UBS;AIG From The Last 14 Days
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August 28, 2014
08:45 EDTAIGAIG volatility at low end of historic range
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06:35 EDTUBSEuro zone credit crunch showing signs of improving, Reuters says
Loans to the private sector by euro zone banks dropped 1.6% in July versus the same period a year earlier, compared with a year-over-year decline of 1.8% in June, according to Reuters. Meanwhile, the bloc's M3 money supply increased at a 1.8% annual rate in July, versus 1.6% in June, the news service added. The upturn in the data comes after the European Central Bank started charging banks in June to keep their deposits overnight, Reuters added. Publicly traded euro zone banks include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), Royal Bank of Scotland (RBS) and UBS (UBS). Reference Link
August 18, 2014
07:15 EDTAIGAIG ramps up lobbying in Washington, Reuters reports
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