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UBS disappoints despite profit boost

Last Updated: Tuesday, October 29, 2013, 15:14

Swiss banking behemoth UBS said on Tuesday it had swung into profit in the third quarter, but missed analyst expectations and a regulator said it must strengthen its balance sheet.

Swiss to sign last rites for banking secrecy: OECD

Last Updated: Tuesday, October 15, 2013, 17:10

Switzerland will break the seal on its banking secrecy, until now considered virtually ironclad, by signing an international agreement on fighting tax evasion Tuesday, the OECD said.

Use Swiss banking `crisis` to recover black money: Advani

Last Updated: Wednesday, April 24, 2013, 17:09

India should take advantage of the virtual crisis gripping the Swiss banking sector due to global campaign against bank secrecy laws to deal with the blackmoney issue, BJP leader LK Advani has said.

At UBS, rate manipulators called each other 'Superman', 'Hero'

Last Updated: Wednesday, December 19, 2012, 13:43

In their manipulation of global reference interest rate LIBOR, traders and brokers of Swiss banking major UBS referred to each other as 'Superman', 'Hero' and 'Captain Chaos', a joint probe by the British and Swiss regulators found on Wednesday.

UBS rogue trader Adoboli jailed for 7 years over fraud

Last Updated: Wednesday, November 21, 2012, 13:54

A 32-year-old rogue trader, who almost destroyed the Swiss banking giant UBS through increasingly reckless illicit deals, has been jailed for seven years.

‘Foreign client complaints rise at Swiss banks’

Last Updated: Tuesday, July 03, 2012, 21:31

Swiss banks recorded an increase in the number of complaints from their foreign customers in 2011, although the number of their total customer complaints declined, Switzerland's banking ombudsman said Tuesday.

Half of Zurich`s foreign millionaires left after tax change

Last Updated: Saturday, March 17, 2012, 21:18

The region of Zurich, the home of Swiss banking, has lost nearly half its foreign millionaires two years after scrapping special tax breaks.

Switzerland blocks funds of wealthy Greek

Last Updated: Friday, February 24, 2012, 23:58

A Swiss banking source said that Greek authorities have requested the blocking of about $215 mn deposited in a Zurich fund manager by a businessman.

UBS to slash 3,500 jobs to save 2 bn Swiss francs

Last Updated: Tuesday, August 23, 2011, 12:45

Swiss banking giant UBS on Tuesday announced plans to slash 3,500 jobs in order to make savings of some 2.0 billion Swiss francs (1.8 billion euros, USD 2.5 billion).