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Stock Market & Financial Investment News

News Breaks
December 19, 2012
05:38 EDTUBSUBS sees Q4 loss of CHF 2.0B - CHF 2.5B
UBS said it believes its Q4 net profit attributable to shareholders will show a loss in the approximate range of CHF 2.0B - CHF 2.5B, primarily as a result of: total provisions for litigation and regulatory matters, including the LIBOR settlements, of approximately CHF 2.1B; restructuring charges of approximately CHF 0.5B; and an own credit loss on financial liabilities designated at fair value of approximately CHF 0.4B. On an adjusted basis, UBS expects to report a pre-tax profit in the approximate range of CHF 2.5B-3.0B for the year. The bank added, "We are encouraged by the progress we have seen in the quarter to date on both RWA reduction and balance sheet deleveraging. Net new money is expected to be positive in the quarter as we have seen good flows in our Wealth Management and Wealth Management Americas businesses, while we have seen net outflows in Global Asset Management. Our Basel III phase-in common equity tier 1 ratio is expected to improve to around 14% by quarter-end and our fully applied Basel III common equity tier 1 ratio, inclusive of the effects from early adopting IAS 19R in the fourth quarter, is expected to be roughly in line with the third quarter's level of 9.3%."
News For UBS From The Last 14 Days
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April 7, 2014
13:08 EDTUBSPanel rules UBS unit to pay $5.4M to ex-broker, Reuters says
A Financial Industry Regulation Authority arbitration panel ruled that a unit of UBS has to pay $5.4M to an ex-broker to settle a dispute which stemmed from the sale of Lehman structured notes to his clients, reported Reuters. Reference Link
06:58 EDTUBSDark markets could cause more harm than high-frequency trading, Reuters says
After a book by financial author Michael Lewis sparked worries that high-speed traders have been rigging the U.S. stock market, former regulators and academics say a more serious threat to investors could be the increasing amount of trading that happens outside of exchanges, reported Reuters. Top internalizers include units of KCG Holdings (KCG), Citadel, UBS (UBS), and Citigroup (C). Dark pool operators include Credit Suisse (CS) and Morgan Stanley (MS). In an attempt to earn back some of the retail orders, exchanges such as IntercontinentalExchange Group's (ICE) New York Stock Exchange, Nasdaq (NDAQ), and BATS Global Markets, have allowed brokerages to place dark pool-style orders on their platforms, with the trade hidden until after it is executed. Reference Link

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