UBS’s second-quarter profit beat forecasts even though it agreed to settle a lawsuit with the U.S. housing regulator over the mis-selling of mortgage-backed bonds, boosting shares in Switzerland’s largest bank to two-year highs. A number of European banks – including Deutsche Bank, Barclays, Credit Suisse, HSBC and Royal Bank of […]
Tag: ubs
Ex UBS boss blames “mercenaries” for Libor debacle
The former chief executive of UBS (UBSN.VX) blamed “mercenaries” for its role in the global interest-rate rigging scandal that has further undermined the Swiss bank’s once venerable reputation. UBS was fined a record $1.5 billion last month for manipulating Libor interest rates, the latest in a string of debacles – […]
UBS Says Cleaning Up Its Act After Libor ‘Shocker’
UBS has yet to fully purge itself of a global interest rate scandal that has cost the Swiss bank its reputation and put it at risk of a wave of costly civil suits, its investment banking chief said on Wednesday. The once-venerable institution was fined a record $1.5 billion last […]
