Market Watch (Free subscription) | 11/18/2009
SAN FRANCISCO (MarketWatch) -- Moody's Investors Service on Wednesday lowered UBS AG's ratings on deposits and senior debt to Aa3 from Aa2 while its bank financial strength rating and the long-term debt rating were cut to C from B-. "The two-notch downgrade of UBS AG's BFSR reflects Moody's view of the considerable challenges that UBS continues to face in both its Investment Banking and Wealth...
Market Watch (Free subscription) | 11/17/2009
WASHINGTON (MarketWatch) - Over 14,700 U.S. taxpayers have voluntarily come forward to report having secret Swiss bank accounts as part of an Internal Revenue Services program, according to the Justice Department on Tuesday. The result comes after the IRS, the Swiss government and Swiss bank UBS AG announced a settlement in August where U.S. tax authorities gained access to 4,450 accounts of Americans...
PR News Wire (Free subscription) | 11/17/2009
WASHINGTON, Nov. 17 /PRNewswire-USNewswire/ -- Deputy Attorney General David W. Ogden released the following statement regarding the announcement today by the Department of Justice and the Internal Revenue Service (IRS) regarding the results arising from previous settlements of civil and criminal cases against Swiss banking giant UBS AG. The Justice Department and IRS announced that over 14,700 taxpayers...
Market Watch (Free subscription) | 11/03/2009
NEW YORK (MarketWatch) -- U.S. stocks started lower on Tuesday, with Warren Buffett's deal for railway Burlington Northern Santa Fe Corp. only slightly offsetting a decline in financial shares, hit in part by poor results from Swiss lender UBS AG . The Dow Jones Industrial Average fell 59.63 points to 9,729.81. The S&P 500 Index fell 7.41 points to 1,035.47, while the Nasdaq Composite shed 14.93...
Business Wire (Free subscription) | 10/22/2009
NEW YORK--(BUSINESS WIRE)--Fitch Ratings has assigned an 'F1+' short-term Issuer Default Rating (IDR) and a '1' Support Rating to UBS Bank USA (UBSB). UBSB is a direct subsidiary of UBS Americas Inc., which in turn, is a wholly-owned subsidiary of UBS AG (rated 'A+/F1+' with a Stable Outlook by Fitch). Fitch's ratings of UBSB primarily reflect its ownership by UBS AG and are augmented by its sound...
Market Watch (Free subscription) | 10/08/2009
NEW YORK (MarketWatch) -- Wells Fargo & Co. (WFC), PNC Financial Services Group Inc. (PNC) and several other large regional banks face bigger credit strains than their stock prices would suggest, UBS AG (UBS) said Thursday as it started coverage of ten large regional banks with "sell" or "neutral" ratings.
iStockAnalyst.com (Free subscription) | 09/30/2009
UBS AG is a shadow of its former self – its stock which traded around $60 mark in April 2007 is now trading at $18.11. [More...]
Market Watch (Free subscription) | 09/29/2009
Government of Singapore Investment Corp. says its investment portfolio shrank by more than 20% in local currency terms in the fiscal year ended March 31, owing to large declines in the value of its holdings in UBS AG.
Market Watch (Free subscription) | 09/24/2009
FRANKFURT (MarketWatch) -- Deutsche Lufthansa AG was initiated with a buy rating on Thursday by analysts at UBS AG, who also initiated British Airways with a neutral rating and Air France-KLM with a sell rating. "Although the worst appears over for the airlines we initiate on, the trend is still one of decline in 2009, with the European flag carriers continuing to see reductions in capacity and...
Market Watch (Free subscription) | 09/22/2009
ZURICH (MarketWatch) -- UBS AG (UBS) Tuesday said it will honor a temporary injunction, so clients are informed as to whether their data is among the 4,450 accounts slated for handover to the U.S., but will wait until after an evaluation process to screen for potential tax offenses is concluded.
BloggingStocks (Free subscription) | 09/02/2009
Filed under: Options Deutsche Bank (NYSE: DB ) closed at $64.23. DB September option implied volatility is at 49, October is at 51; below its 26-week average of 66, according to Track Data, suggesting decreasing price movement. Credit Suisse (NYSE: CS ) closed at $47.94. CS October option implied volatility of 47 is below its 26-week average of 62 according to Track Data, suggesting decreasing price...
BloggingStocks (Free subscription) | 08/21/2009
Filed under: International markets , Law , Rants and raves , Scandals , Politics , Headline news There are plenty of nations that allow secretive banking but Switzerland has always been the king-pin of the group and no nation has been a bigger accomplice to decades of criminal activity. They do this with a sense of pride in a clinical fashion while all the time really having the dirtiest hands in...
Market Watch (Free subscription) | 08/19/2009
SAN FRANCISCO (MarketWatch) -- The Swiss government said late Wednesday that it will sell its stake in UBS AG . The Swiss Confederation will convert all its UBS Mandatory Convertible Notes due 2011, worth 6 billion Swiss francs ($5.6 billion), into UBS shares, the bank said in a statement on its Web site. Once the government gets the shares, it will sell them to institutional investors. The Swiss...
CNNMoney.com (Free subscription) | 08/19/2009
The Internal Revenue Service announced Wednesday that it has reached a deal with the Swiss government, gaining access to thousands of UBS AG accounts that Americans might have used to avoid paying taxes.
CNNMoney.com (Free subscription) | 08/19/2009
The Internal Revenue Service announced Wednesday that it has reached a deal with the Swiss government, gaining access to thousands of UBS AG accounts that Americans might have used to avoid paying taxes.
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