For the first time since the early 1990s, there is a risk of a real estate bubble in Switzerland, an indicator developed by Swiss banking giant UBS shows.
Swiss banking giant UBS intends to cut nearly 10,000 jobs worldwide in a restructuring of its hard-hit investment bank, the
group said on Tuesday, reporting that reorganization costs had pushed it deep into loss in the third quarter.
Shares in Swiss banking giant UBS rose on Monday, following rumours at the weekend that it will announce thousands of job cuts when it posts its third-quarter results this week.
Swiss banking giant UBS is planning to split its ailing investment bank, triggering the loss of up to 10,000 jobs, Britain's Financial Times reported on Friday.
Kweku Adoboli, the UBS trader accused of losing $2.3 billion, broke down in tears on Friday as he took to the witness stand for the first time at his trial in London.
The former boss of a UBS trader accused of losing the Swiss bank $2.3 billion in "rogue trades" turned a blind eye to his
excessive deals due to the profits they reaped, a London court heard Thursday.
The former boss of a UBS trader accused of losing the Swiss bank $2.3 billion in "rogue trades" told a London court on Wednesday of his disbelief at seeing a confessional email.
The accountant who uncovered alleged "rogue trades" by UBS trader Kweku Adoboli told a London court on Wednesday of the panic which swept through the Swiss bank as the defendant's story unravelled.
French authorities on Wednesday raided the Paris headquarters of Swiss bank UBS in connection with a probe into alleged tax evasion, a bank spokesman said.
A trader at leading Swiss bank UBS accused of "gambling away" $2.3 billion hid his "rogue trades" behind a smokescreen of confusion, a jury in London heard on Tuesday.
News of the $104 million reward handed to UBS whistleblower Bradley Birkenfeld by American authorities was greeted in Switzerland with a mixture of shock, surprise, indignation and resignation.
US authorities have awarded former UBS banker Bradley Birkenfeld a $104 million reward for blowing the whistle on the
Swiss bank's tax fraud, a whistleblowers group said Tuesday.
Authorities in the western German region of North Rhine-Westphalia have bought data on German clients of a Swiss bank suspected of tax evasion, media reports said Wednesday.
Swiss banking giant UBS said Tuesday that its second quarter net profit slumped more than 58 percent and it intended to sue over the botched listing of the world's biggest social network site Facebook.
Switzerland has been implicated among an array of tax havens harbouring a staggering $21 trillion of offshore assets stashed by the super-rich worldwide, a new report charges.
<p>French authorities have charged a manager with the local affiliate of Swiss bank UBS in connection with a probe into alleged tax evasion, a judicial source told AFP on Friday.</p>
<p>A British lawyer has been charged and a Swiss lawyer is wanted for questioning by the US tax authorities for allegedly helping a well-known American family to hide unpaid taxes in Swiss bank accounts.</p>
<p><span class="il">Switzerland</span> must shed its role as a bank haven for tax cheats and end disputes with foreign tax authorities, the chairman of the country's biggest bank UBS said on Thursday.</p>
<p>Swiss banking giant UBS reported that net profit slid by 54 percent to 827 million Swiss francs (€688 million, $910 million) in the first quarter of 2012, sharply below expectations, in a statement on Wednesday.</p>
