December 19, 2012 Comments Off on UBS to pay $1.5 billion over interest rate rigging
WASHINGTON — The Justice Department says an international investment bank will pay more than $1.5 billion in penalties in three nations to resolve charges of trying to manipulate an interest rate used as a benchmark in global banking transactions. Attorney ...
Tagged with: Business business news department of justice interest rates ubs
Read More »November 18, 2011 Comments Off on Ex-UBS banker gets 5 years’ probation in tax case
MIAMI — A former banker at Switzerland’s UBS AG has been sentenced to five years’ probation and no jail time for tax fraud because of his assistance in uncovering other tax evasion cases. A federal judge in Miami agreed Friday ...
Tagged with: Banks IRS switzerland tax evasion ubs
Read More »November 8, 2011 Comments Off on Wells Fargo agrees to pay $37M in bid-rigging case
DES MOINES, Iowa — Wells Fargo & Co. said Tuesday it has agreed to pay at least $37 million in a lawsuit which alleges several banks rigged bidding competitions to win business from state and local governments. Banks help municipalities ...
Tagged with: Bank of America department of justice JPMorgan Chase & Co. lawsuit ubs wachovia bank wells fargo
Read More »October 18, 2011 Comments Off on Goldman Sachs loses $428 million in third quarter
NEW YORK — Goldman Sachs Group Inc. reported a third-quarter loss of $428 million Tuesday as revenue from underwriting stocks and bonds plunged. It was only the second quarterly loss for the investment bank since it went public 12 years ...
Tagged with: Banks bonds goldman sachs Goldman Sachs Group Inc. investors revenue Stocks third quarter ubs
Read More »August 1, 2011 Comments Off on HSBC to cut 30,000 jobs in global overhaul
LONDON — British banking group HSBC said Monday it will cut 30,000 jobs worldwide by 2013 and sell almost half its retail bank branches in the U.S., part of a new strategy to focus on fast-growing emerging markets. The bank, ...
Tagged with: bank Banks Economy goldman sachs HSBC job cuts london Retail ubs
Read More »May 4, 2011 Comments Off on UBS agrees to pay $160M in municipal bond settlement
WASHINGTON — Big Swiss bank UBS AG has agreed to pay $160 million to resolve allegations of rigging the bidding process to win investment business from cities and towns in 36 states. Federal and state officials announced the settlements Wednesday. ...
Tagged with: allegations Banks department of justice SEC securities and exchange commission ubs washington
Read More »January 17, 2011 Comments Off on UBS is paring down its 44-page dress code
GENEVA — Good news for Swiss bankers: They may soon be allowed to wear red underwear, black nail polish — and even eat garlic. Swiss banking giant UBS AG said Monday it is revising its 44-page dress code telling its ...
Tagged with: dress code employees guidelines ubs
Read More »
Maryland Daily Record Maryland's trusted source for business and legal news