Swiss banking giant UBS is nominating German stock market chief Reto Francioni to its board after the former head of Lufthansa, Wolfgang Mayrhuber, opted not to stand for reelection.
Britain's financial watchdog on Tuesday handed UBS a £9.45-million ($14.7-million) fine for exposing investors to unacceptable risk when it sold an AIG investment fund.
Switzerland’s largest bank is facing criticism for handing out 2.5 billion francs in bonuses to its top managers after posting a net loss for around the same amount in 2012.
UBS announced on Tuesday a net loss of 2.5 billion francs ($2.7 billion) for 2012 as fines from the Libor rate-fixing scandal weighed heavily on results.
The Swiss economy should grow by one percent this year, UBS economists say in a forecast issued on Thursday hedged by concerns about global uncertainty.
All of the $1.3 billion Holocaust restitution fund created by Swiss banks in 1998 has been returned to victims, a judge
involved in the case said in an interview published on Thursday.
The banking sector "needs to change" after it became "too arrogant" in the run-up to the infamous Libor rate-rigging scandal, the head of the investment bank division of UBS told British lawmakers in London on Wednesday.
Swiss banking giant UBS, hit with massive fines for manipulating global interest rates, has learned its lesson and is improving its control mechanisms, its chairman Axel Weber insisted in an interview published on Sunday.
Hong Kong's de facto central bank on Thursday said it would probe UBS over possible rigging of the financial hub's
interbank rate, a day after the Swiss giant agreed to pay a huge fine over the Libor scandal.
Three national regulators slapped the equivalent of $1.5 billion in fines on Swiss banking giant UBS on Wednesday,
the second-largest banking fine ever, for manipulating interest rates in a deepening scandal that threatens more than a dozen other banks.
Swiss banking giant UBS may be slapped with a combined fine of $1.5 billion to settle allegations that it manipulated Libor interest rates, the Financial Times reported on Tuesday.
Swiss banking giant UBS could pay a fine of more than $1 billion to settle allegations that it manipulated Libor interest rates, the Financial Times reported on Thursday.
France's political elite lined up Thursday to defend the Socialist minister in charge of cracking down on tax evasion after he was accused of hiding money in a secret UBS bank account in Switzerland.
French Budget Minister Jérôme Cahuzac, who has pushed for a stronger fight against tax evasion, is categorically denying a report alleging that he had held an undeclared Swiss bank account.
A tax-dodging spat involving the Swiss bank UBS and Germany took a fresh twist after a Swiss daily reported on Tuesday that German authorities were using simple photos taken by a UBS worker of an office computer screen.
Swiss banking giant UBS was non-commital on Monday after a newspaper reported it may pay more than $450 million to US and British authorities to settle allegations that it manipulated Libor interest rates.
Swiss banking giant UBS was hit twice over on Monday for allowing a rogue trader to commit massive fraud, with British regulators imposing a nearly $50-million fine and Switzerland banning its investment bank from staging takeovers.
Britain's financial regulator has fined Swiss bank UBS £29.7 million ($47.6 million) for failings that allowed trader Kweku Adoboli to commit the country's biggest fraud.
The state of New York sued Credit Suisse for fraud Tuesday over the sale of questionable mortgage securities that dealt buyers $11.2 billion in losses in the US housing meltdown.
UBS trader Kweku Adoboli, who gambled away $2.3 billion of the Swiss bank's money, was sentenced to seven years in prison on Tuesday for Britain's biggest ever fraud.
French authorities have charged a former managing director of the French arm of Swiss bank UBS in connection with a probe into alleged tax evasion, a judicial source told AFP on Monday.
Jury members in the trial of a UBS trader accused of gambling away $2.3 billion at the bank's London offices retired on Wednesday to consider their verdict.
German authorities on Monday launched nationwide raids on suspected tax evaders in connection with a probe into several hundred Germany-based clients of Swiss bank giant UBS, a local prosecutor told AFP.
