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UBS to cut 2,000 jobs at its investment bank

AP — Fri, 03 Oct 2008 11:01:14 +0000

Swiss bank UBS AG will cut 2,000 jobs at its troubled investment banking unit, most of which will be lost in the U.S. and Britain, an official said.

UBS expects return to profit in third quarter

AP — Thu, 02 Oct 2008 10:56:28 +0000

Swiss bank UBS said Thursday it expects “a small profit” in the third quarter, raising hopes that a dismal year of U.S. sub-prime related losses _ to the tune of some 45 billion Swiss francs ($40 billion) _ may soon be over. The company’s shares rose.

Regulator: UBS defrauded NH student lender

AP — Thu, 14 Aug 2008 14:30:47 +0000

New Hampshire securities regulators on Thursday accused banking giant UBS of defrauding the state’s leading issuer of student loans.

UBS misled NH student lender

AP — Thu, 14 Aug 2008 14:00:57 +0000

New Hampshire securities regulators are accusing a branch of banking giant UBS of misleading a leading issuer of student loans in the state.

UBS posts Q2 loss, announces reorganization

AP — Tue, 12 Aug 2008 22:23:28 +0000

UBS AG, one of the hardest-hit banks in the subprime mortgage crisis, announced Tuesday that it is reorganizing into three distinct businesses after reporting a large quarterly loss and taking another $5.1 billion hit in...

UBS posts Q2 losses, write-downs of $5.1B

AP — Tue, 12 Aug 2008 15:18:34 +0000

UBS AG, one of the hardest hit banks in the subprime mortgage crisis, said Tuesday that it lost 358 Swiss francs ($331 million) in the second quarter as it took another $5.1 billion hit in write-downs on bad...

UBS posts Q2 losses, writedowns of $5.1B

AP — Tue, 12 Aug 2008 10:43:24 +0000

UBS AG, one of the hardest hit banks in the subprime mortgage crisis, said Tuesday that it had further losses and writedowns of $5.1 billion during the second quarter of...

UBS settles $18.6B auction-rate securities case

AP — Fri, 08 Aug 2008 21:33:35 +0000

Swiss banking giant UBS AG agreed Friday to buy back nearly $20 billion in auction-rate securities from investors, a day after Citigroup Inc. reached a similar settlement with regulators for $7 billion as part of a wide-ranging investigation into the collapse of the market for the bond-like investments.

UBS to settle securities case for $19.4B

AP — Fri, 08 Aug 2008 14:03:07 +0000

The Massachusetts Secretary of State’s office says Swiss Bank UBS has reached a $19.4 billion agreement to buy back bonds to settle claims that it misled investors into buying high-risk...

NY AG sues banking giant UBS for securities fraud

AP — Thu, 24 Jul 2008 19:31:01 +0000

New York Attorney General Andrew Cuomo sued banking giant UBS for fraud Thursday, accusing the company of marketing tens of billions of dollars of auction-rate securities as safe even when they knew the investments were in trouble.The civil...