Forget all the nonsense about UBS and dress codes for the moment, and let's focus on the business. And right now, UBS is in a better place (at least a better place than it has been for some time)'.
Just when we thought the mockery was over, and we'd get no more mileage out of UBS and that 'Dress Code', Associated Press has come out with yet more guidance / protocol that the bank has apparently given to staff who are working or travelling in foreign countries.
The Wall Street Journal has obtained a copy of the message Citi CEO Vikram Pandit sent to staff about the company's 2010 earnings.
Bloomberg reports that Guoqing Li, CEO and founder of China Dangdang Inc., posted items on China's biggest Twitter-like microblogging service, Sina Weibo, over the weekend, criticising Morgan Stanley, which was a lead manager in the company's recent $272m IPO.
New York - Citigroup Inc. has reported fourth quarter 2010 net income of $1.3 billion, or $0.04 per diluted share, compared to a net loss of $7.6 billion, or $0.33 per diluted share, in the fourth quarter 2009.
'18 January 2011 - The Financial Services Authority (FSA) has fined Barclays Bank plc (Barclays) £7.7 million for failures in relation to the sale of two funds. Barclays will contact customers and pay redress where appropriate.
Bloomberg reports that JPMorgan posted $4.8bn in fourth-quarter earnings Friday, making it $17.4bn in profits for 2010.
The Telegraph reports that DE Shaw, one of the world's largest hedge funds, has taken an almost $159m short position in Barclays Bank, emphasising growing concerns that UK banks are facing headwinds operating in a tougher regulatory and economic climate.
Royal Bank of Scotland Chairman Sir Philip Hampton apparently has a pop at the banking industry during an interview with the BBC's Robert Peston which is going out Tuesday evening.
Yes, that's right. Just a few weeks after cheering everyone up with that Zurich dress code, UBS has decided that it might be easier to simplify it.