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UBS to slash 5,500 jobs as it sells down subprime
Posted May 6th, 2008 by California Home LoanZURICH (Reuters) - UBS (UBSN.VX) will cut 5,500 jobs in one the biggest purges seen so far in the financial markets crisis, as the Swiss wealth-management titan slashes at the investment bank that plunged it into turmoil.
UBS in capital hike after huge loss, chairman quits
Posted April 1st, 2008 by California Home LoanZURICH (Reuters) - UBS AG (UBSN.VX) doubled its writedowns from the subprime crisis on Tuesday, dumped its chairman and sought more emergency capital in a second attempt to reverse its fortunes.
UBS shares sink anew on writedown fears
Posted March 6th, 2008 by California Home LoanZURICH (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.
UBS in shareholder plea as subprime fallout weighs
Posted January 11th, 2008 by California Home LoanZURICH (Reuters) - UBS AG (UBSN.VX) has appealed to its shareholders to back a capital injection by the Singapore government and a Middle East investor but warned it still cannot predict how the subprime crisis will play out.