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Stock Market & Financial Investment News

News Breaks
July 15, 2013
08:13 EDTUBSUBSís Weber: Fed's stimulus reduction negatively hurts Europe, Bloomberg says
UBS Chairman and former European Central Bank Governing Council member Axel Weber says the Fed's plan to reduce stimulus will have a negative affect on the European economy, reports Bloomberg. ďThe Fed is doing the right thing for the U.S. Thatís their mandate, but itís undisputed that through transaction and arbitrage, it has spillover effects to other constituencies. Itís coming for Europe at an awkward point in time.Ē Reference Link
News For UBS From The Last 14 Days
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March 5, 2015
07:12 EDTUBSUBS strengthens U.S. M&A unit with Evercore, Lazard, BofA hires, WSJ says
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March 2, 2015
06:32 EDTUBSLarge EU banks may come under scrutiny for reciprocity, WSJ says
The banking practice of reciprocity -- giving work to competitor banks in order to foster relationships or reward past deals -- may come under investigation by the U.K. Financial Conduct Authority, reports the Wall Street Journal, citing a person familiar with the regulator. The FCA believes the practice may be anticompetitive, but it hasn't yet determined the scope of its investigation into EU banks. 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
February 26, 2015
14:01 EDTUBSBarclays to double provision for forex rigging fines, Sky News says
Barclays (BCS), which previously excluded itself from a broader settlement between several banking peers and regulators over alleged manipulation of foreign exchange rates as it worked to secure a binding agreement with all relevant authorities, will more than double its existing provision for forex fines next week, which may indicate that a settlement deal could be announced soon, said Sky News. Barclay took a GBP500M charge during the course of last year in advance of expected forex issue costs, the report noted. Other banks that previously agreed to a settlement included Bank of America (BAC), Citibank (C), HSBC (HSBC), JPMorgan Chase (JPM), RBS (RBS) and UBS (UBS). The report indicates that U.S. regulators have stepped up talks with banks including Barclays and the others involved. Reference Link
10:00 EDTUBSOn The Fly: Analyst Initiation Summary
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07:13 EDTUBSUBS to hold investor trip
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05:32 EDTUBSUBS initiated with an Underperform at Exane BNP Paribas
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February 24, 2015
13:07 EDTUBSEU official: Euro banks shouldn't also go through Fed's stress test, WSJ says
Jonathan Hill, the European Unionís new financial markets chief, told The Wall Street Journal that he does not see a need for the U.S. to give stress tests to European banks that have already received health checks in Europe. Hill says banks across Europe are "properly and sensibly capitalized." The WSJ reported last week that the U.S. units of two European banks, Deutsche Bank (DB) and Banco Santander (SAN), are set to fail the Federal Reserve's stress tests, though they passed ECB stress tests last year. Reference Link
07:21 EDTUBSSecurities Industry & Financial Markets Association to hold a conference
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06:15 EDTUBSBanks probed for possible rigging of precious metals markets, WSJ reports
Officials in the U.S. are investigating at least 10 major banks for potential rigging of precious-metals markets, sources tell The Wall Street Journal. The DOJ's antitrust unit are investigating the price-setting process for gold, silver, palladium and platinum in London, while the CFTC has begun a civil investigation, with both agencies making requests for information, including a subpoena to HSBC (HSBC) from the CFTC. According to a source, Credit Suisse (CS), JP Morgan (JPM), UBS (UBS), Societe Generale (SCGLY), Bank of Nova Scotia (BNS), Barclays (BCS), Goldman Sachs (GS) and Deutsche Bank (DB) are also under investigation. Reference Link

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