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 Credit Suisse said Tuesday that a top executive had resigned after assuming responsibility for the bank's decision to spy on a star banker after he jumped ship to competitor UBS. https://www.thelocal.ch/20191001/credit-suisse-executive-resigns-following-spying-scandal Tue, 01 Oct 2019 16:17:44 +0200 credit-suisse-executive-resigns-following-spying-scandal UBS shareholders on Thursday dealt the bank's directors and executives a rare rebuke, refusing to release them from personal liability over a massive fine imposed by France earlier this year, in a signal of deep investor frustration. https://www.thelocal.ch/20190502/ubs-shareholders-punish-management-following-massive-french-fine-banking-switzerland Thu, 02 May 2019 20:44:16 +0200 ubs-shareholders-punish-management-following-massive-french-fine-banking-switzerland Credit Suisse said on Wednesday its first-quarter net profit rose by 8 percent, with its efforts to focus on wealth management helping balance out problems in investment banking. https://www.thelocal.ch/20190424/credit-suisse-boosts-profits-switzerland-banking-finance Wed, 24 Apr 2019 23:58:25 +0200 credit-suisse-boosts-profits-switzerland-banking-finance A Paris court will rule Wednesday on whether Swiss banking giant UBS illegally tried to convince French clients to hide billions of euros in Switzerland, charges which prompted prosecutors to seek a record €3.7-billion fine. https://www.thelocal.ch/20190219/switzerlands-ubs-faces-37-billion-fine-as-crucial-court-ruling-looms Tue, 19 Feb 2019 10:10:35 +0100 switzerlands-ubs-faces-37-billion-fine-as-crucial-court-ruling-looms UBS has been authorised by China's securities regulator to take a controlling stake in a local business, making the Swiss giant the first foreign bank allowed to do so under new rules. https://www.thelocal.ch/20181201/china-allows-switzerlands-ubs-to-control-local-securities-business Sat, 01 Dec 2018 11:50:38 +0100 china-allows-switzerlands-ubs-to-control-local-securities-business US authorities on Thursday sued Swiss banking giant UBS, accusing the European lender of fraud in the sale of mortgage-backed securities prior to the global financial crisis. https://www.thelocal.ch/20181109/us-sues-swiss-banking-giants-ubs-alleging-fraud-in-financial-crisis-mortgage-backed-securities Fri, 09 Nov 2018 09:36:44 +0100 us-sues-swiss-banking-giants-ubs-alleging-fraud-in-financial-crisis-mortgage-backed-securities A French prosecutor on Thursday called for the Swiss UBS bank to be fined €3.7 billion (4.2 billion dollars) for "knowingly" helping French customers commit tax fraud. https://www.thelocal.ch/20181109/french-prosecutor-calls-for-ubs-to-be-fined-37-billion-in-tax-fraud-case Fri, 09 Nov 2018 08:48:20 +0100 french-prosecutor-calls-for-ubs-to-be-fined-37-billion-in-tax-fraud-case Swiss banking giant UBS said on Thursday that it was bracing for another legal battle in the US over sales of mortgage-backed securities in the run-up to the financial crisis a decade ago. https://www.thelocal.ch/20181108/ubs-eyes-new-legal-battle-in-us-over-subprime-crisis Thu, 08 Nov 2018 19:54:12 +0100 ubs-eyes-new-legal-battle-in-us-over-subprime-crisis France on Wednesday urged a Paris court to fine the Swiss bank UBS 1.6 billion euros ($1.8 billion) for allegedly helping clients commit tax fraud. https://www.thelocal.ch/20181107/france-wants-swiss-bank-ubs-fined-16-billion-for-tax-fraud-lawyer Wed, 07 Nov 2018 23:21:55 +0100 france-wants-swiss-bank-ubs-fined-16-billion-for-tax-fraud-lawyer Swiss banking giant UBS on Thursday reported better-than-expected third quarter results alongside a cautious outlook due to current turmoil in the markets. https://www.thelocal.ch/20181025/ubs-reports-better-than-expected-results-cautious-outlook Thu, 25 Oct 2018 11:01:45 +0200 ubs-reports-better-than-expected-results-cautious-outlook Swiss banking giant UBS said Tuesday it was "business as usual" in China following reports that the company restricted travel there as an employee had to delay her return home after being asked to meet with authorities. https://www.thelocal.ch/20181023/swiss-bank-ubs-says-business-as-usual-in-china Tue, 23 Oct 2018 16:28:07 +0200 swiss-bank-ubs-says-business-as-usual-in-china The Swiss banking giant UBS goes on trial in Paris on Monday October 8th to face accusations it orchestrated a huge tax fraud scheme for wealthy French clients, with potential fines of billions of euros. https://www.thelocal.ch/20181008/swiss-banking-giant-ubs-on-trial-in-france-over-tax-fraud-claims Mon, 08 Oct 2018 13:22:25 +0200 swiss-banking-giant-ubs-on-trial-in-france-over-tax-fraud-claims Former UBS precious metals trader Andre Flotron was acquitted on Wednesday of market manipulation, a development that could spell trouble for similar cases against other Wall Street traders. https://www.thelocal.ch/20180425/ex-ubs-trader-beats-market-manipulation-charge-in-us-banking Wed, 25 Apr 2018 23:40:20 +0200 ex-ubs-trader-beats-market-manipulation-charge-in-us-banking Swiss banking giant UBS said on Monday it delivered strong first-quarter results driven largely by its investment banking and wealth management activities. https://www.thelocal.ch/20180423/banking-bullish-ubs-posts-strong-first-quarter-results-switzerland-finance Mon, 23 Apr 2018 10:46:22 +0200 banking-bullish-ubs-posts-strong-first-quarter-results-switzerland-finance Swiss banking giant UBS will pay $230 million to settle charges it misrepresented mortgage-backed securities in the run-up to the financial crisis, New York State officials announced on Wednesday. https://www.thelocal.ch/20180322/swiss-bank-ubs-to-pay-230-mn-in-us-subprime-settlement Thu, 22 Mar 2018 09:39:31 +0100 swiss-bank-ubs-to-pay-230-mn-in-us-subprime-settlement The number of billionaires worldwide rose above 1,500 last year, a ten percent jump from 2015, due largely to a surge in Asia, Swiss banking giant UBS and auditors PwC said on Thursday. https://www.thelocal.ch/20171027/swiss-bank-announces-ten-percent-rise-in-billionaires-worldwide Fri, 27 Oct 2017 10:53:07 +0200 swiss-bank-announces-ten-percent-rise-in-billionaires-worldwide Swiss banking giant UBS could shed a third of its staff over the next decade as dramatic technological changes help it streamline operations, its chief told Bloomberg in an interview published on Tuesday. https://www.thelocal.ch/20171004/ubs-boss-warns-technology-could-replace-30-percent-of-workforce Wed, 04 Oct 2017 10:32:10 +0200 ubs-boss-warns-technology-could-replace-30-percent-of-workforce Swiss banking giant UBS on Friday posted higher profits for the second quarter as improved investor confidence led to growth in its wealth management units. https://www.thelocal.ch/20170728/profits-of-swiss-bank-ubs-money-business Fri, 28 Jul 2017 10:40:26 +0200 profits-of-swiss-bank-ubs-money-business Swiss banking giant UBS said Friday that it booked "very strong first-quarter results", driven largely by its investment banking and wealth management activities. https://www.thelocal.ch/20170428/ubs-announces-big-leap-in-profits Fri, 28 Apr 2017 10:21:52 +0200 ubs-announces-big-leap-in-profits Swiss banking giant UBS will go on trial in France for establishing a wide-ranging tax fraud scheme worth billions of euros, legal sources told AFP on Monday. https://www.thelocal.ch/20170321/swiss-bank-ubs-faces-tax-fraud-trial-in-france Tue, 21 Mar 2017 09:18:37 +0100 swiss-bank-ubs-faces-tax-fraud-trial-in-france