New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 12, 2014
10:40 EDTC, UBSSFO charges six more people with libor, FT says
Six more people will charged criminally by the U.K's Serious Fraud Office before the end of February in connection with its probe of alleged libor-rigging, reported the Financial Times. The SFO has already charged three men including Tom Hayes who was formally a yen derivatives trader at UBS (UBS) and Citigroup (C) and has pleaded not guilty. Reference Link
News For UBS;C From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
July 31, 2015
06:40 EDTCU.S. banks prepared to take advantage of Euro lenders' cautions, WSJ says
U.S. banks are preparing to advance in the sector after reporting earnings, with executives touting the gloom coming from their European counterparts as a major opportunity to capitalize on their newfound advantage, the Wall Street Journal reports. On Thursday, Deutsche Bank (DB) CEO John Cryan said that the company must "shrink" its balance sheet, while Barclays (BCS) chairman John McFarlane said that Wall Street lenders are "an enormous threat" to Euro investment banks, the report says. On the other hand, Morgan Stanley (MS) chairman James Gorman said after reporting earnings last week that the company is poised to advanced in the debt trading sector, and that "there's a potential for, over a period of time, share gain for our business," the report says. In addition, Goldman Sachs finance chief Harvey Schwartz said that the company is "seeing potential big restructuring on the European side," the report adds. Publicly traded companies in the European space include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), RBS (RBS) and UBS (UBS). Publicly traded companies in the U.S. space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
July 30, 2015
06:55 EDTUBSBanks pitch total-return swaps as stock purchase alternative, WSJ reports
Banks have been pitching certain hedge fund clients on using derivatives instead of actual stocks when placing certain bets in an effort to lessen the impact of new capital rules on the banks' businesses, the Wall Street Journal reports, citing people familiar with the efforts. The shift involves derivatives known as total-return swaps that mirror the effects of owning a stock or other asset, the report says. Units of Bank of America (BAC), Goldman Sachs (GS), JPMorgan Chase (JPM), Morgan Stanley (MS), and UBS (UBS) are among the banks asking clients to shift trades into total-return swaps instead of underlying securities, the report says. Reference Link
July 28, 2015
09:32 EDTCCaterpillar announces $1.5B accelerated stock repurchase
Subscribe for More Information
July 27, 2015
06:44 EDTUBSUBS says U.S.-based brokerage business not for sale, Reuters reports
UBS CEO Sergio Ermotti told analysts following the company's Q2 results that its U.S-based brokerage business, which posted a 6% decline in Q2 profit before tax, is not up for sale, Reuters reports. UBS formed the unit when it bought PaineWebber in 2000, and Ermotti says the unit is "critical" to the bank's overall private banking strategy. Reference Link
05:49 EDTUBSUBS reports Q2 EPS CHF 0.32 vs. CHF 0.21 last year
Reports Q2 adjusted profit before tax CHF 1.6B. Reports Q2 CET1 capital ratio 14.4%. Reports Q2 total book value per share CHF 13.71.
July 26, 2015
20:42 EDTUBSUBS to report 25% growth in Q2 profits, Reuters says
Subscribe for More Information
July 24, 2015
10:46 EDTCCiti's Mexico unit facing expanding money laundering probe, Bloomberg says
Subscribe for More Information
06:25 EDTUBSUBS steps back from Puerto Rico bond funds, Reuters reports
UBS is backing away from its Puerto Rico bond funds, telling clients that they can no longer use them as collateral for some loans after Puerto Rico's financial troubles resulted in major credit agency downgrades, Reuters reports, citing a July 13 letter to clients. UBS' Puerto Rico unit said it will contact investors to discuss alternative options, the report says. Reference Link
July 22, 2015
16:26 EDTCCiti releases results of 2015 Dodd-Frank Stress Test
Subscribe for More Information
12:58 EDTCCiti says to wind down banking operations at Banamex USA
Subscribe for More Information
12:53 EDTCFDIC announces $140M civil penalty against Citi's Banamex USA unit
The FDIC announced the assessment of a civil money penalty of $140M against Banamex USA, Century City, California, for violations of the Bank Secrecy Act and anti-money laundering laws and regulations. In a concurrent action, the California Department of Business Oversight assessed a civil money penalty of $40M. The FDIC's penalty of $140M will be satisfied in part by the CDBO's penalty. The FDIC's penalty will be paid to the United States Department of the Treasury. In taking this action, the FDIC determined that the bank failed to implement an effective BSA/AML Compliance Program over an extended period of time. The institution failed to retain a qualified and knowledgeable BSA officer and sufficient staff, maintain adequate internal controls reasonably designed to detect and report illicit financial transactions and other suspicious activities, provide sufficient BSA training, and conduct effective independent testing.
July 21, 2015
10:58 EDTCCiti fined $70M, ordered by CFPB to provide $700M in relief
Subscribe for More Information
July 20, 2015
16:01 EDTCOptions Update; July 20, 2015
Subscribe for More Information
13:03 EDTCFed proposes final rule on capital surcharges for largest U.S. banks
Subscribe for More Information
July 19, 2015
19:12 EDTCFederal Reserve proposes changes to 'stress test' regulations
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use