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.... HSBCboss Stuart Gulliver has said 1,000 roles will move to Paris in about two years, when Brexit becomes effective. Swiss bank UBS has indicated that 1,000 of its 5,000 staff could shift, possibly to Frankfurt or Madrid. ... [Read full article on Guardian ]
Tuesday 21st of March 2017 05:26:34 PM
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....The City of London has a "long history" as a financial centre, which will be difficult for European cities like Frankfurt to challenge, Andrew Wilson, the regional boss of Goldman Sachs Asset Management, told the BBC. Earlier this year, HSBC and UBS confirmed that some staff would definitely have to move abroad when the UK left the EU. ... [Read full article on BBC ]
Tuesday 21st of March 2017 03:00:44 PM
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. Most of Britain’s millionaires reckon Brexit will make them even richer, according to a survey by wealth managers at Swiss bank UBS. ... [Read full article on Guardian ]
Wednesday 22nd of March 2017 06:35:35 AM
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.... . The court heard Mr Rowe had given sworn evidence as an expert on Libor and credit derivatives in earlier trials including the 2015 trial of former UBS trader Tom Hayes. ... [Read full article on BBC ]
Wednesday 22nd of March 2017 09:37:35 PM
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. Swiss bank UBS will start charging customers who deposit more than a million euros, as negative interest rates hit banks' profits. ... [Read full article on BBC ]
Wednesday 22nd of March 2017 03:27:40 PM
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Latest Finance News related to UBS

Libor expert witness texted for help image
Source : BBC [Read Article] Wednesday 22nd of March 2017 09:37:35 PM
.... . The court heard Mr Rowe had given sworn evidence as an expert on Libor and credit derivatives in earlier trials including the 2015 trial of former UBS trader Tom Hayes. ...
UBS charges customers to deposit euros image
Source : BBC [Read Article] Wednesday 22nd of March 2017 03:27:40 PM
. Swiss bank UBS will start charging customers who deposit more than a million euros, as negative interest rates hit banks' profits. ...
UK millionaires think Brexit will make them even richer, survey finds image
Source : Guardian [Read Article] Wednesday 22nd of March 2017 06:35:35 AM
. Most of Britain’s millionaires reckon Brexit will make them even richer, according to a survey by wealth managers at Swiss bank UBS. ...
Goldman Sachs to move hundreds of staff out of London due to Brexit image
Source : Guardian [Read Article] Tuesday 21st of March 2017 05:26:34 PM
.... HSBCboss Stuart Gulliver has said 1,000 roles will move to Paris in about two years, when Brexit becomes effective. Swiss bank UBS has indicated that 1,000 of its 5,000 staff could shift, possibly to Frankfurt or Madrid. ...
Goldman Sachs to expand EU presence ahead of Brexit image
Source : BBC [Read Article] Tuesday 21st of March 2017 03:00:44 PM
....The City of London has a "long history" as a financial centre, which will be difficult for European cities like Frankfurt to challenge, Andrew Wilson, the regional boss of Goldman Sachs Asset Management, told the BBC. Earlier this year, HSBC and UBS confirmed that some staff would definitely have to move abroad when the UK left the EU. ...
Student digs in Britain giving first-class returns image
Source : Guardian [Read Article] Thursday 16th of March 2017 03:40:59 PM
Schaeuble calls for 'strong' City post Brexit image
Source : BBC [Read Article] Thursday 16th of March 2017 01:55:49 PM
.... . Mr Schaeuble's comments, made in conversation with UBS chair Axel Weber, come after Mr Weber confirmed that his bank would not wait for the outcome of Brexit negotiations to move up to 1,500 staff from London to an EU base. ...
Will Pirc squeeze Apple until the pips squeak? image
Source : Guardian [Read Article] Sunday 26th of February 2017 07:00:23 AM
.... On Monday the outsourcing outfit – which cut its profit forecasts three times at the end of last year – wrote £50m off a number of its historical contracts and wrote down £40m of accrued income. UBS said: “While the absolute impact is . ...
Government pension scheme begins ditching oil and gas investments image
Source : Guardian [Read Article] Friday 24th of February 2017 10:21:26 AM
....Most of the money looked after by Nest is invested in its retirement date funds – there are 47 of these, with each worker put into the one appropriate for their age. It is £130m of this total pot that is being moved into a new “climate-aware” fund managed by UBS Asset Management, which has been developed to allow members to “benefit from the transition to a low-carbon economy”. ...
Trump’s trade advis​​er says Germany uses euro to 'exploit' US and EU image
....Many of the ECB policies – such as slashing interest rates and printing euros to buy government bonds – are unpopular in Germany, not least because they disadvantage the millions of savers in the country. Former UBS chief economist George Magnus called the comments from Navarro about the euro “hogwash” because it was not “Germany’s currency to influence or manage”. ...
Ex-UBS and Citigroup trader jailed over Libor seeks review of case image
Source : Guardian [Read Article] Tuesday 31st of January 2017 07:00:15 AM
....The jailed City trader Tom Hayes is to submit his case to the Criminal Cases Review Commission (CCRC) in an effort to demonstrate his conviction for rigging the Libor interest rate is “unsafe”. The move, which could be made as soon as Tuesday, comes after the former UBS and Citigroup employee failed in a previous attempt to have his conviction overturned, and was then blocked last year from appealing to the supreme court. ...
Frankfurt prepares for Brexit bankers: 'Maybe our city will change them' image
Source : Guardian [Read Article] Friday 27th of January 2017 07:15:19 AM
....And while banks and businesses have kept their cards close to their chests regarding any planned moves, there is much anecdotal evidence that some will take place before, not after, Britain’s exit. The decision announced last month by Swiss bank UBS to set up a new entity called UBS Europe SE in Frankfurt is being widely interpreted as the first major Brexit-influenced move. ...
Bernie Ecclestone, Sir Martin Sorrell and executives to reap $40m in F1 selloff image
....42 on Tuesday. The offering is being underwritten by UBS and the biggest seller is Ecclestone, who became F1’s chairman emeritus following the takeover after 40 years as its CEO. ...
Citigroup plans new operations away from London after Brexit image
Source : Guardian [Read Article] Tuesday 24th of January 2017 07:49:23 PM
.... JP Morgan warned in the run to the referendum that 4,000 UK jobs are at risk, while HSBC has reiterated that it will have to shift 1,000 roles to Paris to retain access to certain business operations after the UK leaves the EU. Swiss bank UBS has also said roles will go – citing Frankfurt or Madrid as possible locations. ...
McDonald’s will need more than a bigger Big Mac to supersize profits image
Source : Guardian [Read Article] Sunday 22nd of January 2017 07:00:23 AM
....On Thursday, Sky will report its first results since the latest Fox move was announced, and the City will be looking at its customer numbers – especially the number leaving versus the number joining – as well as its performance in Germany and Italy. UBS said: “Evidence of improving operating momentum, particularly in the UK, could give independent shareholders (of which Fox needs acceptance from 75%) more confidence in the stand-alone fundamentals. ...
Banks are moving workers, inflation is up. Project Fear is coming true | Simon Jenkins image
.... They just got the timing wrong. This week two big banks, HSBC and UBS, honoured their threats, that Brexit would mean moving 2,500 banking jobs from London to Paris and Frankfurt. ...
Is the City of London going to hell in a Brexit handcart? image
Source : Guardian [Read Article] Thursday 19th of January 2017 07:41:32 PM
.... We could move 1,000 roles, says HSBC, with Paris the main beneficiary. Same figure for us, replies UBS, but possibly Frankfurt and Madrid. ...
Goldman Sachs stalls plan to move jobs to UK amid Brexit uncertainty image
Source : Guardian [Read Article] Thursday 19th of January 2017 01:15:50 PM
....The warning from Goldman came as other major City employers used the Davos summit in Switzerland to warn that jobs would have to be moved from London. HSBC’s chief executive, Stuart Gulliver, has reiterated that 1,000 roles will “move in about two years’ time, when Brexit becomes effective”, while the Swiss bank UBS has acknowledged that 1,000 of its 5,000 staff could shift, possibly to Frankfurt or Madrid. ...
Deutsche Bank reaches $7.2bn settlement with US in mortgages case image
Source : Guardian [Read Article] Friday 23rd of December 2016 05:16:46 AM
....Credit Suisse Group is in late-stage negotiations and has resisted a demand by the agency that it pay between $5bn and $7bn over its sale of mortgage securities, sources have said. Royal Bank of Scotland, Wells Fargo, UBS and HSBC are also under investigation, according to company disclosures. ...
Singapore convicts banker in 1MDB case image
Source : BBC [Read Article] Wednesday 21st of December 2016 09:25:02 AM
....Shutting down BSI's Singapore operations, regulators said the bank had shown "the worst case of control lapses and gross misconduct that we have seen in the Singapore financial sector". The local units of Standard Chartered and UBS, Southeast Asia's biggest lender DBS and Falcon Bank were all found to have "lapses and weaknesses in anti-money laundering controls". ...
RBS, Barclays and other banks fined in Swiss franc Libor case image
Source : Guardian [Read Article] Wednesday 21st of December 2016 08:41:42 AM
....3m of fines, including a £3m penalty for RBS, for manipulation that took place between 2007 and 2010. The proceedings continue against banks including HSBC and Lloyds, while Icap, RP Martin and Tullett Prebon were also named as being subject to ongoing scrutiny, along with Rabobank and UBS. ...
FTSE 100 closes above 7,000 level image
Source : BBC [Read Article] Friday 16th of December 2016 09:16:53 AM
....Shares in Micro Focus International fell 3. 5% after UBS cut its rating on the company to "neutral" from "buy". ...
Sky investors should think in the long term and reject Murdoch's deal image
Source : Guardian [Read Article] Thursday 15th of December 2016 07:45:24 PM
....Not everybody was convinced, of course, otherwise the shares would not have fallen to 769p. But listen to Polo Tang, respected media analyst at UBS: Sky stands at an inflection point after a period of heavy investment in broadband and high-definition TV. ...
Italian banking crisis: UniCredit to raise €13bn image
Source : Guardian [Read Article] Tuesday 13th of December 2016 08:11:03 AM
....A group of investment banks have signed a pre-underwriting agreement to help UniCredit market the issue. These include Morgan Stanley, UBS, Bank of America Merrill Lynch, JP Morgan and Mediobanca. ...
Banks fined £413m over euro rate rigging image
Source : BBC [Read Article] Wednesday 7th of December 2016 12:13:55 PM
....7bn for euro and yen interest rate-rigging. Two of the eight, whistleblowers Barclays and UBS, were excused their financial penalties. ...
Rosberg revs up image
Source : BBC [Read Article] Sunday 27th of November 2016 02:49:56 PM
....According to his managers, Rosberg has chosen so far to focus on some extra sponsorship participation with Mercedes' own list of brand partners. This collection of 23 companies includes the likes of Puma, Bose, Hugo Boss, Tata Communications, Pirelli, Epson and UBS. ...
FTSE 100 down on miners and drugs image
Source : BBC [Read Article] Monday 24th of October 2016 07:51:33 AM
.... Shares closed 1. 4% up after an upgrade from UBS, which gave the firm a "buy" rating. ...
Singapore orders bank closure and fines over 1MDB links image
Source : BBC [Read Article] Tuesday 11th of October 2016 03:27:20 AM
.... . South East Asia's biggest bank DBS has been fined S$1m (US$726,000; £589,000) while UBS will have to pay S$1. ...
Pound plunge image
Source : BBC [Read Article] Friday 7th of October 2016 12:10:26 PM
...." . John Wraith, head of UK rates strategy at UBS, predicts: "It is only a matter of time before less positive [economic] data starts to appear. ...
'Flash crash' image
Source : BBC [Read Article] Friday 7th of October 2016 12:06:25 PM
.... But the gradual decrease is expected to continue as the UK's economy struggles to cope with Brexit uncertainty. John Wraith, head of UK rates strategy at UBS, predicts: "It is only a matter of time before less positive [economic] data starts to appear. ...
Under pressure image
Source : BBC [Read Article] Thursday 29th of September 2016 10:58:59 PM
.... At one point, it was the sixth biggest bank in the world, as respected in Manhattan as it was in Munich. Even in 2008, when the financial crisis led European stalwarts such as UBS and Credit Suisse to seek bailouts, Deutsche weathered the storm on its own. ...
Chinese investors pay A$88.88m for Sydney property image
Source : BBC [Read Article] Wednesday 28th of September 2016 05:19:15 AM
....The number eight is considered lucky in Chinese as it sounds like the word for "prosperity". That luck might come in handy - the deal comes just as Sydney was awarded the fourth spot on UBS's global housing bubble index. ...
London houses are second most over-valued in world - UBS image
Source : Guardian [Read Article] Tuesday 27th of September 2016 12:43:11 PM
. London now has the second most over-valued property market in the world, beaten only by Vancouver in Canada, according to a new “Bubble index” compiled by Swiss bank UBS. ...
Credit worthy?  image
Source : BBC [Read Article] Sunday 18th of September 2016 06:59:26 AM
.... The BBSW, which is used to price everything from corporate loans to mortgages, is now based off a collection of live rates from the market. The other defendants in the US class action lawsuit are Citibank, Deutsche Bank, HSBC, JPMorgan Chase, Morgan Stanley, BNP Paribas, Royal Bank of Scotland, UBS, Royal Bank of Canada, Credit Suisse, ICAP and Tullett Prebon. ...
UBS says 1,500 jobs may go after the UK leaves the EU image
Source : BBC [Read Article] Tuesday 6th of September 2016 03:39:16 PM
. The Swiss banking group UBS says that up to 1,500 of its jobs in London may be moved abroad once the UK leaves the European Union. ...
Barclays pays a further $100m in the US over Libor fraud image
Source : BBC [Read Article] Monday 8th of August 2016 05:12:06 PM
....". Other banks that have reached settlements with the US authorities in similar Libor cases include UBS, which paid $1. ...
First TV interview with £1.4bn loss trader image
Source : BBC [Read Article] Monday 1st of August 2016 04:14:38 AM
. The former UBS trader convicted of fraud - after losing £1. ...
Corporate clone image
Source : BBC [Read Article] Monday 25th of July 2016 11:13:55 PM
....It's certainly something we'd like to believe. When Swiss bank UBS's 44-page dress code, which advised client-facing staff on everything from appropriate underwear to the importance of regular haircuts, was leaked in 2010 it was widely mocked. ...
Singapore seizes $177m as part of Malaysia corruption probe image
Source : BBC [Read Article] Thursday 21st of July 2016 07:11:50 AM
....1MDB is at the centre of a global corruption investigation. The local units of Standard Chartered and UBS, Southeast Asia's biggest lender DBS and Falcon Bank were all found to have "lapses and weaknesses in anti-money laundering controls". ...

US justice department seeks to recover $1bn from Malaysian fund used to pay for Wolf of Wall Street film
 image
.... . The Monetary Authority of Singapore said it has completed its inspections of DBS, Standard Chartered and UBS and preliminary findings showed instances of "control failings" in all three banks and "weaknesses in the processes for accepting clients and monitoring transactions. ...
Ex-UBS trader Kweku Adoboli loses UK deportation appeal image
Source : BBC [Read Article] Wednesday 20th of July 2016 01:04:22 AM
. Kweku Adoboli, former UBS trader convicted of fraud, has lost his appeal against being deported from the UK. ...

UBS hires ex-London Stock Exchange boss Chris Gibson-Smith
 image
Source : Telegraph [Read Article] Monday 11th of July 2016 12:25:34 PM
...
FTSE 100 rises to 11-month high image
Source : BBC [Read Article] Monday 11th of July 2016 09:06:53 AM
....7%. Shares in property-related companies have suffered big falls since the UK voted to leave the EU, although a partial recovery was sparked last week after a note from UBS suggested the sell-off had been overdone. ...
Shares lifted by strong US jobs figures image
Source : BBC [Read Article] Friday 8th of July 2016 07:48:37 AM
....8%. In London, property shares were doing well after Swiss bank UBS said the sell-off in the sector was "overdone". ...
Libor rigging trial: Former Barclays bankers jailed image
Source : BBC [Read Article] Thursday 7th of July 2016 02:38:17 PM
.... . Royal Bank of Scotland, UBS, Deutsche Bank and broker Icap have also received heavy fines for attempting to manipulate the rate. ...
Stock markets tumble after Leave vote image
Source : BBC [Read Article] Friday 24th of June 2016 05:42:39 PM
....Meanwhile, shares in Santander - the eurozone's largest bank - fell almost 20% in Madrid. David Tinsley at UBS said there would be "a significant rise in economic uncertainty" and that the Bank of England's Monetary Policy Committee (MPC) was expected to take action, including interest rate cuts and an extension of its quantitative easing programme. ...
Property market lull may follow vote to leave EU image
Source : BBC [Read Article] Friday 24th of June 2016 11:58:50 AM
.... . David Tinsley, from Swiss bank UBS, said the Bank of England's Monetary Policy Committee (MPC) was expected to make interest rate cuts and extend its quantitative easing programme. ...
UK interest rate 'likely to hit zero' following Brexit image
Source : BBC [Read Article] Friday 24th of June 2016 11:09:25 AM
....UK interest rates are likely to hit zero in the next six months as the Bank of England moves to shore up the economy after the vote to leave the EU. David Tinsley, UK economist at UBS, said Brexit meant "sharply lower growth, a large drop in the pound, and further easing from the Bank of England". ...
City shock at referendum result image
Source : BBC [Read Article] Friday 24th of June 2016 10:39:57 AM
....Nor could Mark Carney, the governor of the Bank of England, who spoke after Cameron, do much to help the mood. "This is not like the euro crisis," said Karen Olney, head of thematic equities at UBS. ...
Pound plunges after Leave vote image
Source : BBC [Read Article] Friday 24th of June 2016 06:13:25 AM
...."Following the outcome of the referendum, and given current market volatility, while IAG continues to expect a significant increase in operating profit this year, it no longer expects to generate an absolute operating profit increase similar to 2015," it said. David Tinsley at UBS said there would be "a significant rise in economic uncertainty" and that the Bank of England's Monetary Policy Committee (MPC) was expected to take action, including interest rate cuts and an extension of its quantitative easing programme. ...
Banks on high alert as City sets up war rooms and fills cash machines image
Source : Guardian [Read Article] Wednesday 22nd of June 2016 02:50:04 PM
....Some hedge funds are said to have commissioned their own private polls to enable them to take bets on the market. The Swiss bank UBS has already told clients that there could be an increase in volatility and an impact on trading volumes, which could make it difficult to complete all orders immediately. ...
Prices, property, pensions: 30 EU referendum questions answered image
Source : Guardian [Read Article] Friday 10th of June 2016 12:53:56 PM
Lawsuit accusing 16 big banks of Libor manipulation reinstated by US court image
.... The ruling, which overturns a 2013 decision, could bankrupt the institutions, the judges warned. A lower court judge erred in dismissing the antitrust portion of private litigation against Barclays, Bank of America, Deutsche Bank, HSBC, UBS and others on the ground that the investors failed to allege harm to competition, according to the US circuit court of appeals in Manhattan. ...
Goldman Sachs and Deutsche Bank shareholders revolt against pay deals image
.... “I am sticking to my duty and to my responsibilities,” Achleitner told 5,400 shareholders at the annual meeting. Related: UBS and Deutsche Bank lose bonus tax challenge. ...
Rise of the billionaire robots: how algorithms have redefined hedge funds image
.... It’s an industry that can only deliver what it pledges if it remains small. But not everyone will do so: UBS already has said it plans to allocate more client assets to hedge funds. ...
Tui slips despite positive update and plan to sell specialist divisions image
Source : Guardian [Read Article] Wednesday 11th of May 2016 10:26:00 AM
....It confirmed it expected full year earnings growth of at least 10%. UBS said the revenues were lower than expected but earnings were better, which was also likely to be putting pressure on the shares:. ...
The Fed's new global mandate is not without risk image
Source : Guardian [Read Article] Thursday 5th of May 2016 11:56:17 AM
.... The former is sure to usher in a highly volatile future; the latter would further entrench the Fed’s new mandate – one that undermines any semblance of central bank independence. • Alexander Friedman is chief executive of Gam Holding, was global chief investment officer of UBS Wealth Management, chief financial officer of the Bill and Melinda Gates Foundation, and a White House fellow during the Clinton administration. ...
Banks facing up to a gloomy outlook: High street lenders to announce trading updates image
....Meanwhile, Lloyds is expected to see the group escape the profit hit suffered by its investment banking rivals. Analysts at UBS are pencilling in first-quarter underlying profits to fall to £1. ...
£1.5m Battersea power station apartments held back from market image
Source : Guardian [Read Article] Thursday 21st of April 2016 03:44:39 PM
....Several investment firms and banks have warned that a glut of luxury housing in London has created a bubble, with US bank Morgan Stanley predicting that the price of new upmarket flats could fall by 10-20% this year. UBS warned six months ago that house prices in London were the most overvalued of any major city in the world. ...
Business news: Amazon Prime, ArchOver and the private jet market image
Source : Daily Express [Read Article] Sunday 17th of April 2016 12:30:00 PM
....On the same day, British pay TV giant Sky is expected to say that its revenues for the nine months to March 31, 2016, rose 5 per cent to £8. 7billion, according to analysts at UBS. ...
(Panama) hats off to revolting shareholders image
Source : Guardian [Read Article] Sunday 17th of April 2016 08:00:19 AM
.... Yet it will be interesting to see how the group plugs its latest trading figures ahead of announcing them this week. Analysts at UBS have pencilled in “a steady quarter with continued solid growth in financials”, which is hardly the way you might imagine Jeff Stelling plugging it. ...
Ex-UBS trader accuses FCA of scapegoating him over Libor rigging image
Source : Guardian [Read Article] Thursday 14th of April 2016 05:04:19 PM
. A former UBS trader whom the Financial Conduct Authority wants to ban over alleged Libor rigging has accused the City regulator of gross misrepresentation and making him a scapegoat. ...
Ex-RBS Libor trader banned by FCA image
Source : Guardian [Read Article] Tuesday 12th of April 2016 11:42:56 AM
.... He also sat next to a trader who asked him weekly to change submissions and took into account requests from outside brokers acting for a yen derivatives trader. Tom Hayes, a former yen derivatives trader at UBS and Citi, was jailed last year for plotting to rig Libor and was described as the ringleader who asked traders at other banks for favours to benefit his deals. ...
Fears for elderly without internet access as HUNDREDS of bank branches to close this year image
....In the last four years HSBC said the number of customers visiting branches in Britain has fallen by about 40 percent and more than 90 percent of customer contact with the bank is via the phone or internet. About half of Britain's remaining 10,386 branches may disappear in the next five years as people increasingly bank online and lenders cut costs to increase profit, according to research by UBS. ...
Business news: M&S clothes sales, Libor trial and Moma foods crowfunding image
Source : Daily Express [Read Article] Sunday 3rd of April 2016 12:01:00 AM
....The trial, which was originally due to be held in January, will take place at Southwark Crown Court. In January the SFO suffered a massive blow, when the three-month trial of six brokers that were accused of helping former UBS trader Tom Hayes rig interest rates ended with all of them being acquitted. ...
Source : Reuters [Read Article] Friday 1st of April 2016 12:23:37 PM
....9 by year end. Among leading investment banks, Citigroup and UBS forecast the FTSE ending the year at 6,600 and 6,500 points respectively, but JP Morgan was more bearish with a 5,950 point forecast. ...
BANKING STORM: Unsustainable calm sparks fears of a market crash and ANOTHER crisis image
....Trading revenues at global investment firms dropped by as much as 56 per cent at the start of this year with Europe's firms among the worst affected, according to analysts. Credit Suisse, Deutsche Bank, UBS and Barclays have suffered an average collapse in revenues of 24 per cent, according to analysts polled by the Financial Times. ...

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