UBS announced plans to cut around 10,000 jobs and close its fixed income business after a trading scandal and a quarterly net loss of $2.4bn Tuesday morning.
Hurricane Sandy sent floodwater gushing into New York’s five boroughs, submerging cars, tunnels and the subway system and plunging skyscrapers and neighborhoods into darkness.
Yep, those job loss numbers and restructuring details have now been released.
Citigroup announced last week that it has been ranked the greenest bank in the United States by Newsweek magazine.
The U.K. economy may have just exited recession by posting its strongest quarterly gross domestic product growth in five years, but according to a recently published book, the U.K. will have a third world economy by 2014.
Deutsche Bank, Europe’s biggest bank, said third-quarter profit unexpectedly rose after investment banking revenue exceeded targets.
Former Barclays chief executive Bob Diamond and other bosses there could be hauled before the high court to explain what they knew about the Libor interest rate fixing scandal.
Let's just hope that the firm didn't fire too many London staff, then.
As Hurricane Sandy moves towards the shores of New Jersey on the east coast of the United States, utilities warned that strong winds, and flooding that may take place, mean it could take up to a week to restore power to all the affected locations.
UBS’s decision to cut as many as 10,000 jobs and retreat from capital-intensive trading businesses will help position Switzerland’s largest bank to return more funds to shareholders.
High-profile hedge fund executive William "Bill" Goodell has a new job.
The case of Elizabeth Warren vs. Mary Jo White exploded on Wall Street and Washington on Tuesday as the liberal Massachusetts senator sent a blistering 13-page letter to the SEC chair essentially calling her a bad regulator and a liar.
JPMorgan will eliminate voicemail for its retail employees in an effort cut costs and save about $16 million a year.