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Former UBS executive back in court


Raoul Weil, once a powerful UBS executive, will return Tuesday to a U.S. courthouse where prosecutors said last month he ran a business that used Swiss bank secrecy to help Americans cheat on their taxes.

Executives spared in JPM's Madoff deal: Sources

Bernie Madoff Firesale

JPMorgan Chase is expected to pay approximately $2 billion to settle a criminal and regulatory investigation into its dealings with Bernard Madoff, though no individuals at the bank will be implicated, according to sources familiar with the agreement.

Senate approves Janet Yellen as Fed chair

Janet Yellan

The Senate on Monday approved Janet Yellen to become the next chair of the Federal Reserve. She currently serves as Fed vice chair and previously worked as head of the San Francisco Fed.



Great Wall Of China Graffiti

UBS to relocate heads of investment banking

UBS will shift the heads of its onshore China investment-banking unit from Beijing to Hong Kong, while its offshore advisory head for the country Jiang Guorong will move in the opposite direction, as the bank tries to more closely integrate its Chinese businesses.