- Reuters•56 minutes ago
Veteran Italian banker Corrado Passera is presenting to the board of Monte dei Paschi an alternative rescue plan which is backed by some U.S. private equity funds and sponsored by Swiss bank UBS, a source close to the matter said. The board of the Tuscan bank met on Friday to approve first-half results and a rescue plan that envisages a 5 billion euro ($5.6 billion) share issue as well as a 10 billion euro sale of loans the bank granted to borrowers now deemed insolvent. In a surprise statement on Thursday night, Monte dei Paschi said it had received two letters from UBS and former Italian Industry Minister Corrado Passera, without disclosing details about their content.
- Bloomberg•2 hours ago
UBS Group AG, the Swiss lender seeking to expand in China, became the latest European bank to post a decline at its equities business, partly hurt by a slowdown in trading in the Asia Pacific region.
UBS Group AGNYSE
Pre-Market: 13.890.33 (2.43%) as of 6:22 AM EDT
|Bid||13.94 x 5900|
|Ask||13.97 x 5000|
|52wk Range||11.93 - 20.70|
|Day's Range||13.50 - 13.66|
|Avg Vol (3m)||2,984,104|
As of 4:00 PM EDT. Market closed.