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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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July 25, 2014
06:45 EDTUBSUBS blasts French prosecutors over probe, NY Times reports
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06:40 EDTUBSLoan write down standards changed for non-U.S. banks, NY Times says
A new accounting rule will enable banks outside of the U.S. to write down the value of loans earlier but could cause loans to become less attractive for those banks, according to The New York Times. The rule was issued by the International Accounting Standards Board, whose guidelines are followed in more than 100 countries but not in America, the newspaper stated. Publicly traded European 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
July 24, 2014
06:41 EDTUBSFrance initiates formal probe of UBS, NY Times says
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July 23, 2014
07:14 EDTUBSUBS hires Edgar, Whitcher to beef-up investment banking team, Reuters says
UBS has named Craig Edgar as the new managing director and sector head of the company's power investment banking team and David Whitcher will be joining the firm as managing director of the unit, according to Reuters, citing an internal memo. UBS made the appointments in an effort to grow its America's power investment banking practice. Reference Link
July 17, 2014
06:38 EDTUBSStudy says UBS largest private bank with assets near $2T, Reuters says
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06:34 EDTUBSBlackRock sells $3.7B of UBS securities to Credit Suisse, Bloomberg says
Blackrock (BLK) sold $3.7B of the $22B of securities it purchased six years ago from UBS (UBS) to Credit Suisse (CS) in yesterday’s auction of mostly subprime-mortgage bonds, according to Bloomberg, citing a person with knowledge of the transaction. Reference Link

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