UBS
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BRUSSELS (AFP) - The European Commission said on Thursday that it will closely monitor capital controls introduced by Cyprus as the newly-bailed out country prepares to re-open its banks after nearly two weeks. BEIJING/DETROIT (REUTERS) - Chinese state-owned carmaker Dongfeng Motor Group will not pursue a bid for a majority stake in Fisker Automotive, according to sources familiar with the matter, leaving the troubled US electric car without a clear financial backer. Resale prices of non-landed homes for the month of February have dipped 1.4 per cent, reversing January's 0.8 per cent increase, according to latest figures from the National University of Singapore (NUS).
US sues UBS over dodgy sub-prime securities
Oswald Gruebel , chief executive officer of UBS AG (UBSN) , is facing a credibility gap: analysts and investors don’t take his profit target seriously. The 67-year-old CEO may have to reduce his goal for pretax profit of 15 billion Swiss francs ($18.3 billion) in 2014 by as much as 20 percent, or scrap it, as tougher capital standards and sluggish markets weigh on results, according to analysts’ estimates. The Zurich-based bank may report a 36 percent drop in second-quarter net income tomorrow, analysts estimate. Enlarge image UBS AG Chief Executive Officer Oswald Gruebel UBS AG chief executive officer Oswald Gruebel.
Markets, Capital Requirements Crimp UBS Profit
UBS AG (UBSN) , which has lost at least 50 dealmakers from its U.S. investment bank since 2009, remains committed to the unit and aims to reach a top-five rank, said Matthew Grounds, global co-head of investment banking. “I’m only interested in getting our market position in the Americas to where it needs to be,” Grounds, 41, said in an interview yesterday at the firm’s New York office. The bank has dedicated capital for hiring, he said, declining to elaborate. Given the company’s global size, “I want to be top five.”
UBS Aims for Top-5 Ranking on U.S. Deals After Bankers Defect
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Financials - UBS fears missing ambitious targets
Enjoy full access to FT.com's award-winning news, comment and analysis. With over from 500 journalists reporting from over 50 countries, read our trusted news, expert insight and authoritative opinion as it's happening. Access FT.com's 5 year archive of news, comment, analysis, reports and more for all the information on factors affecting your business you need. Whether you're researching a competitor or just need background information for a presentation, you're sure to find what you need.
Companies / Banks - New-look UBS anxious to exploit recovery
UBS Case Marks Widening Gyre of Criminal Probe Into Muni Bonds
A UBS AG (UBSN) banker wanted to win an investment deal with a Rhode Island municipality that was to be awarded to the highest bidder. Instead of offering the best price, he secretly split half of UBS’s $1.4 million profit with another bank to get the rival to back off. The 2002 transaction with the unidentified municipality, described in documents tied to UBS’s $160 million settlement with the U.S. Justice Department and the Securities and Exchange Commission this week, shows the expanding arc of a criminal investigation that has taken more than four years.
Enjoy full access to FT.com's award-winning news, comment and analysis. With over from 500 journalists reporting from over 50 countries, read our trusted news, expert insight and authoritative opinion as it's happening. Access FT.com's 5 year archive of news, comment, analysis, reports and more for all the information on factors affecting your business you need. Whether you're researching a competitor or just need background information for a presentation, you're sure to find what you need. <p style="text-align:right;color:#A8A8A8"></p>
Companies / Banks - UBS pays $160m to settle US bid-rigging charges
UBS AG (UBSN) ’s lead among merger advisers in Australia is big enough to withstand the collapse of Singapore Exchange Ltd. (SGX) ’s $8 billion bid for ASX Ltd. (ASX) , the bank’s second-biggest pending deal in the country. UBS, advising Australian bourse ASX on the planned sale to its regional rival, still retains a lead ahead of Deutsche Bank AG with $56 billion of deals involving local companies in the past 12 months, according to data compiled by Bloomberg. Treasurer Wayne Swan blocked the bid today after the Foreign Investment Review Board said it wasn’t in the national interest.
UBS Dominance in Australia M&A to Weather Failed ASX Deal
Citigroup Inc. (C) , the third-largest U.S. bank by assets, hired former UBS AG (UBSN) European mergers co- head Pat Guerin to advise clients on asset sales. He will be based in London and report to European M&A chief Wilhelm Schulz, New York-based Citigroup said in an internal memorandum to employees.
Citigroup Hires UBS European Mergers Chief Pat Guerin for Asset Sales Team
