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UBS has announced that it will resume share buybacks in the second half of this year and plans to award shareholders up to $1bn (£797m) as it integrates fallen rival Credit Suisse.
UBS swung to a larger-than-expected loss of $785m (£637m) earlier this month in its first full quarterly results since acquiring troubled Credit Suisse.
AT1s were designed in part to make it less likely that the taxpayer would have to bail out a failing bank
UBS said on Saturday it was not aware of a probe by the U.S. Department of Justice into alleged sanctions-related compliance failures, after a media report earlier this week.
Credit Suisse has warned that it may face a $2.2bn loss in the third quarter as it attempts to deal with legacy loans and problematic parts of its business.
Shares in UBS slipped today after a report suggested that Credit Suisse is at the centre of a US probe into potential sanctions breaches.
Mozambican President Filipe Nyusi cannot be sued in Britain over allegations he accepted unlawful payments in the country's lawsuit against Credit Suisse.
UBS reported a pretax profit of £22.8bn ($29.2bn) thanks to its takeover of long time rival Credit Suisse, as it confirmed it will controversially integrate the bank’s domestic lending. UBS’s pretax profit soared to $29.2bn, with the vast majority of this comprising a ‘negative goodwill’ of $28.9bn. ‘ Negative goodwill’ reflects the difference between the [...]
UBS and Swiss finance blog Inside Paradeplatz have settled a lawsuit relating to comments published on the site about Credit Suisse.
UBS has voluntarily ended the CHF9bn (£8bn) loss protection deal agreed with the Swiss government following its emergency acquisition of Credit Suisse. The decision followed “a comprehensive assessment of the designated portfolio of Credit Suisse non-core assets, including severe stress loss scenarios,” the bank said. UBS has also terminated the CHF100bn liquidity backstop from the [...]
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