Search Results for: UBS
Saudi bank IPO 16 times oversubscribed
November 3rd, 2014
A share offer by Saudi Arabia’s National Commercial Bank was 16 times oversubscribed late on Sunday, in what one financial analyst called “the mother of all IPOs.” The initial public offering by the NCB, which was hoping to raise ...
EU to fine JPMorgan, UBS, Credit Suisse over Swiss franc Libor rigging
October 21st, 2014
European Union antitrust regulators are set to fine JPMorgan (JPM.N), UBS (UBSN.VX) and Credit Suisse (CSGN.VX) collectively over $115 million for rigging Swiss franc Libor benchmark interest rates, a person familiar with the matter told Reuters. Royal Bank of ...
Netflix plunges on subscriber data
October 16th, 2014
Netflix shares fall as subscriber gain momentum stalls Shares of Netflix fell 24% in after-hours trading after the company revealed that its third-quarter subscriber gain fell short of its estimates. Still, company’s $1.4 billion in revenue met Wall Street ...
Ex-UBS Banker Tax Trial Rides on Underling’s Credibility
October 14th, 2014
Raoul Weil, once the head of UBS AG ’s global wealth management business, faces a criminal trial that may turn on the credibility of a former subordinate who says he and Weil helped Americans evade taxes. Jury selection is ...
SEC Charges Current and Former E*TRADE Subsidiaries With Improperly Selling Penny Stocks
October 10th, 2014
The Securities and Exchange Commission announced an enforcement action against current and former brokerage subsidiaries of E*TRADE Financial Corporation that failed in their gatekeeper roles and improperly engaged in unregistered sales of microcap stocks on behalf of their customers. ...
Swiss bank UBS started FX trading settlement talks
September 29th, 2014
UBS, Switzerland’s largest bank, has begun settlement talks over allegations it was involved in manipulating foreign exchange rates, the bank said, and warned that it could face a material penalty in any deal struck. UBS did not identify the ...
French court charges UBS with €1.1 bn over tax fraud
September 23rd, 2014
A 1.1-billion-euro payment was imposed to Swiss Bank UBS by a French court by a French court, for allegedly helping rich French clients to hide money in Switzerland. The bank made an appeal in July after charges of tax ...
UBS and Goldman Sachs left red-faced by AngloGold Ashanti $2.1bn float flop
September 16th, 2014
Proposals for a new London-listed mining spin-off worth £3bn hit the dust yesterday, as shareholders at one of the world’s top gold miners revolted over a $2.1bn (£1.3bn) rights issue key to the massive restructuring. South Africa-based AngloGold Ashanti ...
HP subsidiaries plead guilty in bribery cases
September 12th, 2014
Hewlett-Packard (HP) and three subsidiaries pleaded guilty Thursday to paying bribes to foreign officials in Russia, Mexico and Poland and agreed to pay $108 million in criminal and regulatory penalties. The guilty pleas, entered in San Francisco federal court, ...
As cocoa price soars, chocolate makers devour substitutes
September 8th, 2014
Chocolate makers in the fast-growing Asian market are replacing a bigger proportion of cocoa butter, which gives confectionery its melt-in-the-mouth texture, with cheaper palm oil-based alternatives. The move will help confectioners keep down prices in the price-sensitive region where ...
