ZURICH/NEW YORK (Reuters) - A senior UBS employee was briefly detained by U.S. authorities as part of a probe into whether U.S. clients tried to evade tax obligations with the firm's help, the Swiss bank said on Wednesday.

ZURICH, Switzerland -- Swiss bank UBS, hard hit by the U.S. subprime crisis, reported a first-quarter loss of $10.97 billion and said Tuesday it will slash almost 7 percent of its work force.

BASEL, Switzerland, April 23 -- Shareholders of the Swiss bank UBS approved a $15 billion capital increase and replaced the chairman Wednesday in reaction to the fallout it has suffered from its exposure to the U.S. subprime mortgage crisis.

BERN, Switzerland -- A former president of UBS AG urged the Swiss bank to change its business strategy and split off the investment banking unit as a result of massive losses resulting from the subprime crisis.

NEW YORK/ZURICH (Reuters) - Pressure on beleaguered Swiss bank UBS AG to break up intensified as activist investor and former chief executive Luqman Arnold demanded to meet UBS' board and shake up its governance and structure.

LONDON (Reuters) - UBS and Deutsche Bank took a $23 billion hit on their risky assets and the Swiss bank asked investors for more cash on Tuesday, but Europe's bank shares rallied on hopes that the end of another torrid quarter could mark a turning point.

Swiss bank UBS said today that the value of investments tied to U.S. real estate had plummeted by an additional $19 billion in recent months, and continued to deteriorate through last month -- a further sign that the crisis in the financial industry has yet to reach bottom.

ZURICH, Switzerland -- Swiss bank UBS AG on Tuesday reported more serious damage from exposure to the U.S. subprime crisis, saying it would post first-quarter losses of $12.1 billion and that it would seek $15.1 billion in new capital.

ZURICH (Reuters) - Swiss bank UBS AG (UBSN.VX) came under renewed pressure on Thursday due to speculation it had sold a huge portfolio of risky mortgages at a deep discount and that the scale of its subprime losses was rapidly mounting.

A report from Swiss Bank UBS predicting more severe sub-prime mortgage losses also sends shivers across Wall Street. The stock market suffered its worst drubbing in almost a month Friday as new troubles in the financial sector suggested that damage from the sub-prime crisis still had a long way to go.