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By Nicholas Comfort and Annette Weisbach, Bloomberg |
October 30, 2012
Deutsche Bank AG, Europe’s biggest bank, said third-quarter profit climbed after a rally in the bond and stock markets brought a surge in trading revenue. The shares jumped.
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By Elena Logutenkova and Bradley Keoun, Bloomberg |
October 29, 2012
UBS AG’s decision to cut as many as 10,000 jobs and retreat from capital-intensive trading businesses will help position Switzerland’s largest bank to return more funds to shareholders.
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By Lindsay Fortado |
October 23, 2012
Kweku Adoboli, the former UBS AG trader accused of causing a $2.3 billion loss, was sent e-mails alerting him to the conduct of Jerome Kerviel at Societe Generale SA.
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By Erik Larson and Lindsay Fortado |
October 16, 2012
According to criminal trial testimony, UBS AG fixed a loophole that former trader Kweku Adoboli allegedly used to conceal unauthorized transactions by giving them long-term settlement dates.
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By Dakin Campbell, Bloomberg |
October 16, 2012
Wells Fargo & Co., the biggest U.S. home lender, is restructuring sales and trading operations to form a new markets division at its investment bank as the firm challenges more established Wall Street rivals.
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By Lindsay Fortado, Bloomberg |
October 15, 2012
Tom Naratil, chief financial officer of UBS AG, said the Swiss bank fired as many as 550 employees after it suffered a $2.3 billion loss from unauthorized trading last year.
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By Dawn Kopecki, Bloomberg |
October 12, 2012
JPMorgan Chase & Co., the biggest U.S. bank by assets, posted a record third-quarter profit that beat analysts’ estimates as mortgage revenue soared 72%.
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By Lindsay Fortado, Bloomberg |
October 9, 2012
Kweku Adoboli booked tens of thousands of real and fake trades during the summer of 2011 that exposed UBS AG to losses that may have escalated to $12 billion within weeks, a bank executive told a London court.
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By Laura Marcinek |
September 26, 2012
Japan’s biggest brokerage is planning to cut as many as 30 jobs in part of its Americas equities division this week amid a global reorganization.
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By Liam Vaughan, Gavin Finch and Andrea Tan, Bloomberg |
September 25, 2012
Royal Bank of Scotland Group Plc managers condoned and participated in the manipulation of global interest rates, indicating that wrongdoing extended beyond the four traders the bank has fired.
