https://feeds.thelocal.com/ Read the latest news and views from Switzerland in English en-us news@thelocal.com (TheLocal) webmaster@thelocal.com (TheLocal) TheLocal RSS Feed A trader who worked for UBS and Citigroup on Monday became the first person to be convicted in Britain of rigging the Libor inter-bank lending rate. https://www.thelocal.ch/20150803/ex-ubs-trader-convicted-for-libor-rigging Mon, 03 Aug 2015 21:33:37 +0200 ex-ubs-trader-convicted-for-libor-rigging America's credit union regulator has filed an anti-trust lawsuit against UBS, Credit Suisse and 11 other international banks as part of the global crackdown in the Libor rate-rigging scandal. https://www.thelocal.ch/20130924/top-swiss-banks-sued-in-us-for-rate-rigging Tue, 24 Sep 2013 12:48:00 +0200 top-swiss-banks-sued-in-us-for-rate-rigging A federal judge on Wednesday signed off on a $100 million fine on UBS's Japan subsidiary, part of a larger global crackdown on the Swiss banking giant in the Libor rate-rigging scandal. https://www.thelocal.ch/20130919/japanese-ubs-unit-fined-for-libor-rigging Thu, 19 Sep 2013 02:07:00 +0200 japanese-ubs-unit-fined-for-libor-rigging A former UBS trader in the UK will face trial on charges of conspiring to manipulate the Libor interbank lending rate, a British court ruled on Thursday. https://www.thelocal.ch/20130620/trial-set-for-ex-ubs-trader-over-libor-rigging Thu, 20 Jun 2013 17:55:00 +0200 trial-set-for-ex-ubs-trader-over-libor-rigging Britain's Serious Fraud Office on Tuesday said that former UBS trader Tom Hayes had become the first person to be charged in connection with its probe into the Libor rate-rigging scandal that has rocked the banking sector. https://www.thelocal.ch/20130618/britain-charges-ubs-trader-over-libor-scandal Tue, 18 Jun 2013 15:23:00 +0200 britain-charges-ubs-trader-over-libor-scandal Despite sharp criticism from a handful of UBS shareholders, a strong majority approved pay and bonuses for the executive of Switzerland’s largest bank at the company’s annual meeting in Zurich on Thursday. https://www.thelocal.ch/20130503/ubs-shareholders-approve-executive-pay Fri, 03 May 2013 10:33:00 +0200 ubs-shareholders-approve-executive-pay Swiss big bank UBS has reported a net profit of 988 million francs in the first three months of the year, far more than analysts had expected. https://www.thelocal.ch/20130430/ubs-surprises-with-high-first-quarter-profit Tue, 30 Apr 2013 10:40:00 +0200 ubs-surprises-with-high-first-quarter-profit Swiss financial giant UBS says it is poised to quit the panel that sets the Euribor benchmark rate for lending in euros between banks, becoming the latest player to leave. https://www.thelocal.ch/20130319/ubs-to-leave-scandal-rocked-euribor-panel Tue, 19 Mar 2013 20:07:00 +0100 ubs-to-leave-scandal-rocked-euribor-panel UBS is coming under fire after significant payouts and bonuses for top brass were divulged for 2012 despite the bank’s 2.5-billion-franc loss. https://www.thelocal.ch/20130315/ubs-reveals-lofty-bonuses-despite-losses Fri, 15 Mar 2013 09:44:00 +0100 ubs-reveals-lofty-bonuses-despite-losses Britain's financial watchdog on Tuesday handed UBS a £9.45-million ($14.7-million) fine for exposing investors to unacceptable risk when it sold an AIG investment fund. https://www.thelocal.ch/20130212/ubs-fined-in-uk-for-fund-debacle Tue, 12 Feb 2013 19:59:00 +0100 ubs-fined-in-uk-for-fund-debacle Switzerland’s largest bank is facing criticism for handing out 2.5 billion francs in bonuses to its top managers after posting a net loss for around the same amount in 2012. https://www.thelocal.ch/20130206/ubs-slammed-for-bonuses-paid-despite-loss Wed, 06 Feb 2013 12:10:00 +0100 ubs-slammed-for-bonuses-paid-despite-loss UBS announced on Tuesday a net loss of 2.5 billion francs ($2.7 billion) for 2012 as fines from the Libor rate-fixing scandal weighed heavily on results. https://www.thelocal.ch/20130205/ubs-reports-massive-loss-for-2012 Tue, 05 Feb 2013 10:40:00 +0100 ubs-reports-massive-loss-for-2012 The banking sector "needs to change" after it became "too arrogant" in the run-up to the infamous Libor rate-rigging scandal, the head of the investment bank division of UBS told British lawmakers in London on Wednesday. https://www.thelocal.ch/20130109/banking-needs-to-change-ubs-exec-tells-uk-politicians Wed, 09 Jan 2013 23:15:00 +0100 banking-needs-to-change-ubs-exec-tells-uk-politicians Swiss banking giant UBS, hit with massive fines for manipulating global interest rates, has learned its lesson and is improving its control mechanisms, its chairman Axel Weber insisted in an interview published on Sunday. https://www.thelocal.ch/20121223/ubs-tightening-controls-after-libor-scandal Sun, 23 Dec 2012 23:44:00 +0100 ubs-tightening-controls-after-libor-scandal Hong Kong's de facto central bank on Thursday said it would probe UBS over possible rigging of the financial hub's interbank rate, a day after the Swiss giant agreed to pay a huge fine over the Libor scandal. https://www.thelocal.ch/20121220/hong-kong-probes-ubs-over-further-rate-fraud Thu, 20 Dec 2012 11:25:00 +0100 hong-kong-probes-ubs-over-further-rate-fraud Three national regulators slapped the equivalent of $1.5 billion in fines on Swiss banking giant UBS on Wednesday, the second-largest banking fine ever, for manipulating interest rates in a deepening scandal that threatens more than a dozen other banks. https://www.thelocal.ch/20121219/massive-ubs-fine-for-libor-fraud-confirmed Wed, 19 Dec 2012 22:30:00 +0100 massive-ubs-fine-for-libor-fraud-confirmed Swiss banking giant UBS may be slapped with a combined fine of $1.5 billion to settle allegations that it manipulated Libor interest rates, the Financial Times reported on Tuesday. https://www.thelocal.ch/20121218/ubs-faces-record-fine-for-libor-fraud-report Tue, 18 Dec 2012 12:06:12 +0100 ubs-faces-record-fine-for-libor-fraud-report Swiss banking giant UBS could pay a fine of more than $1 billion to settle allegations that it manipulated Libor interest rates, the Financial Times reported on Thursday. https://www.thelocal.ch/20121213/ubs-faces-1-billion-fine-for-rate-rigging-report Thu, 13 Dec 2012 22:12:00 +0100 ubs-faces-1-billion-fine-for-rate-rigging-report Swiss banking giant UBS was non-commital on Monday after a newspaper reported it may pay more than $450 million to US and British authorities to settle allegations that it manipulated Libor interest rates. https://www.thelocal.ch/20121203/ubs-dodges-questions-about-libor-penalty Mon, 03 Dec 2012 16:09:49 +0100 ubs-dodges-questions-about-libor-penalty Switzerland's second bank Credit Suisse said it has not found any "significant problem", after cooperating with a Swiss investigation into the Libor interest rate-rigging scandal. https://www.thelocal.ch/20120723/credit-suisse-cooperating-with-probe-into-libor-fixing Mon, 23 Jul 2012 11:12:00 +0200 credit-suisse-cooperating-with-probe-into-libor-fixing