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Swiss Bank UBS Fined $1.5 Billion for Interest Rate Manipulation

Posted December 19th, 2012 at 12:15 pm (UTC-5)
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Switzerland’s giant UBS bank is paying $1.5 billion in fines to international regulators after admitting its fraudulent role in rigging a key global interest rate for loans. UBS agreed Wednesday to pay the fines to U.S., British and Swiss authorities, along with pleading guilty to a fraud charge in the United States. Last June, American […]

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Swiss Bank UBS Announces Job Cuts

Posted October 30th, 2012 at 3:50 am (UTC-5)
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Swiss bank UBS has announced a plan to cut about 10,000 jobs during the next three years as it restructures its investment banking unit. Switzerland’s largest bank said Tuesday the changes will help it save $5.8 billion by the end of 2015. UBS CEO Sergio Ermotti said in a statement announcing the move that the […]

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Swiss Bank UBS Announces Huge Job Cuts

Posted August 23rd, 2011 at 11:25 am (UTC-5)
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Swiss bank USB has announced it is cutting 3,500 jobs worldwide, in the bank’s latest effort to save $2.5 billion annually by 2013. USB’s investment bank unit will see 1,600 jobs eliminated – about 45 percent of the total expected job cuts. The banking giant has 65,000 worldwide employees located in more than 50 countries. […]

Tags: , , Posted in Europe

Swiss Bank UBS Announces Huge Job Cuts

Posted August 23rd, 2011 at 3:30 am (UTC-5)
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Swiss bank USB has announced it is cutting 3,500 jobs worldwide, in the bank’s latest effort to save $2.5 billion annually by 2013. USB’s investment bank unit will see 1,600 jobs eliminated – about 45 percent of the total expected job cuts. The banking giant has 65,000 worldwide employees located in more than 50 countries. […]

Tags: , , Posted in Europe

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