October 31, 2006 |
Swiss bank UBS is cooperating in a U.S. regulatory probe of possible manipulation of Treasury debt prices, a sign that authorities are actively examining bond traders. The development comes a week before major bond dealers meet with federal officials to discuss authorities' recent warnings about market manipulation. Bond traders said it also signals that regulators are taking the matter more seriously than some had believed.
July 13, 2000 |
General Electric Co. finally is seeing a payoff from its ill-fated foray into the brokerage industry. The diversified conglomerate, whose businesses range from lightbulbs to aircraft engines, will receive a $2.3-billion windfall from its 22% stake in PaineWebber Group, which Wednesday agreed to be acquired by Switzerland's UBS in a $10.8-billion deal.
May 11, 2004 |
The Federal Reserve on Monday fined Switzerland's largest bank, UBS, $100 million for allegedly sending dollars to Cuba, Libya, Iran and Yugoslavia in violation of U.S. sanctions against those countries. UBS operated a trading center for dollars in its Zurich headquarters under contract with the Federal Reserve of New York, to help the circulation of new U.S. notes and the retirement of old ones.
September 1, 2004 |
Backpedaling from a recent expansion, Charles Schwab Corp. is selling an institutional investment and research division to Swiss banking giant UBS for $265 million, another step in the struggling stock brokerage firm's push to regain its Main Street appeal. The all-cash deal, announced Tuesday, represents a humbling about-face for San Francisco-based Schwab, which will sustain a substantial loss on the sale of its SoundView Capital Markets group.
December 19, 2012 |
WASHINGTON -- U.S. officials said Wednesday that banking giant UBS was motivated by "sheer greed" in rigging a key global interest rate and that the $1.5 billion in penalties the firm agreed to pay sends a strong message to the financial industry. The UBS settlement, which includes the company pleading guilty to felony wire fraud charges, follows a $450-million fine against British bank Barclays in the scandal over manipulating the London Interbank Offered Rate, known as Libor. The settlement involved U.S., British and Swiss authorities.
August 4, 2003 |
Like hard-core gamers poring over a strategy guide, investors and analysts are scrutinizing obscure entries in the financial reports of video game publishers. Two items in particular -- reserves and expense capitalization -- are getting attention in the search for clues as to why the Securities and Exchange Commission issued sweeping requests in July for information from the industry's leading companies: Activision Inc., THQ Inc., Midway Games Inc. and Acclaim Entertainment Inc.