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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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March 27, 2015
09:37 EDTUBSGoldman Sachs overtakes JPMorgan in commodities rankings, Reuters says
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March 23, 2015
06:21 EDTUBSUBS in discussions to lease space from RBS in Connecticut, WSJ reports
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March 18, 2015
07:20 EDTUBSU.S. considers 'tearing up' non-prosecution deals with banks, Bloomberg says
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March 17, 2015
14:37 EDTUBSCiti, Barclays near $800M settelement of forex suit, WSJ says
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March 16, 2015
14:08 EDTUBSEU regulator says time for fine-tuning, Reuters says
The Basel Committee on Banking Supervision believes the necessary bank regulatory framework is in place though some additional work must be done to finalize leverage ratio and capital floor rules, Reuters reported yesterday, citing statements by secretary-general William Coen at a financial conference in Doha. Coen added, "We're now at the state where we can take a step back and look to see how [the regulations] fit together," cautioning that further analysis must be data-driven but admitting that both banks and regulatory bodies were feeling "regulation fatigue." Publicly traded companies in the 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). Reference Link

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