11.77 0.00 (0.00%)
After hours: 4:17PM EDT
|Bid||11.74 x 28000|
|Ask||11.75 x 21500|
|Day's Range||11.65 - 11.78|
|52 Week Range||11.60 - 16.68|
|Beta (3Y Monthly)||1.13|
|PE Ratio (TTM)||11.02|
|Forward Dividend & Yield||0.70 (5.22%)|
|1y Target Est||17.19|
Canadian Imperial Bank of Commerce's (CM) second-quarter fiscal 2019 results indicate improved non-interest income, partly offset by rise in provisions, expenses and lower net interest income.
This time last year Sergio Ermotti was riding high. The UBS chief executive was basking in a double-digit jump in quarterly profit and boasting of the bank’s “excellent” prospects. The past two quarters have produced dramatic declines in earnings at the investment bank and world-leading $2.4tn wealth management unit.
The Swiss bank has said it faces claims from tax authorities and a prosecutor’s office in Italy regarding a five-year period starting in 2012, without giving further details. The questionnaire, seen by Bloomberg, doesn’t specify which banks it has been sent to.
UBS Financial Services Inc. announces the promotion of Kristin Popovic to Branch Manager of the Indianapolis office. Popovic began her career in the financial industry in 2007 and has climbed the ranks from private banker to financial advisor. For the past four years, Popovic has been the Assistant Market Head for UBS Ohio Indy Market.
UBS Investment Bank today announced coupon payments for the ETRACS Alerian MLP Index ETN (NYSE Arca: “AMU”) and ETRACS Alerian MLP Index ETN Series B (NYSE Arca: “AMUB”), both traded on the NYSE Arca.
Though Deutsche Bank's (DB) listed asset management unit continues to spike interest of several asset managers, a deal seems unlikely on account of controlling issues.
The Securities Arbitration Law Firm of Klayman & Toskes, P.A., www.nasd-law.com, continues its investigation into the Yield Enhancement Strategy (“YES”) recommended by UBS (UBS) to its customers. The investigation focuses on the firms’ sales practices in connection with the recommendation of the high-risk YES program for customers who sought conservative investments. High net-worth investors seeking conservative investments to preserve their principal were encouraged to participate in the YES program and were told it was a low-risk strategy to generate additional income.
As he stood outside the West Wing waiting to meet Swiss president Ueli Maurer on Thursday, Mr Trump was asked by a reporter whether the US was going to war with Iran. How can we tell if Google is serious about privacy? The president’s retort followed growing speculation that he was less supportive of engaging Iran than his hawkish advisers.
The Financial Conduct Authority is weighing a formal investigation into the fitness and propriety of the alleged rapist, and of another of the trainee’s superiors who is alleged to have groped her in a separate incident in 2017. If the FCA presses ahead with an investigation and deems either of the pair not “fit and proper persons”, they could face a ban and fine. The watchdog’s interest in the men represents an escalation of its inquiries, which have so far centred on how seriously the Swiss bank took the former trainee’s allegations and whether it was fully frank with the regulator.
BRUSSELS/LONDON (Reuters) - Barclays, Citigroup, JP Morgan, MUFG and Royal Bank of Scotland were fined a combined 1.07 billion euros ($1.2 billion) by the European Union on Thursday for rigging the multi-trillion dollar foreign exchange market. Banks have been hit with billions of dollars in penalties worldwide over the last decade for the rigging of benchmarks used in many day-to-day financial transactions, further damaging the industry's fragile reputation after the financial crisis.
Barclays, Citigroup, J.P. Morgan, MUFG and Royal Bank of Scotland have been fined a total of 1.07 billion euros ($1.2 billion) by EU antitrust regulators for rigging the spot foreign exchange market for 11 currencies. Swiss bank UBS was exempted from a 285 million euro fine since it alerted the existence of two cartels to the European Commission. A similar case with the U.S. regulators is ongoing where Barclays, BNP Paribas, Citigroup, J.P. Morgan, Royal Bank of Scotland and UBS have entered related guilty pleas, and been collectively fined more than $2.8 billion.
UBS Group AG has eliminated more than 150 support jobs globally in recent months, adding to European and U.S. financial services companies dismissing workers to rein in costs, according to people with knowledge of the matter. The Swiss bank cut positions serving the lender’s wealth, asset management and investment banking activities, the people said, asking not to be identified as the matter is private. The majority of cuts are in corporate center positions such as human resources, IT, marketing, and risk departments, they said.
Deutsche Bank (DB) aims to improve profitability by completing the integration at the earliest as annual cost synergies are expected to exceed restructuring costs from 2019.
Barclays analysts cut the price target for UBS by 6%, questioning its ability to generate satisfactory returns. A note published Monday suggested a possible break up of the Swiss bank. Barclays BARC-GB analysts have questioned the ability of UBS UBSG-CH to achieve satisfactory returns, suggesting market expectations of the Swiss investment bank are too high.
Arguments over majority ownership of the combined company stall merger talks between Deutsche Bank's (DB) unit and UBS Group (UBS).
As global currency markets grapple with a growing number of flash crashes triggered by shutdowns in algorithmic trading systems when volatility spikes, UBS is utilizing machine learning technology to carry on dealing. While algorithmic trading has played a growing role in the $5.1 trillion-a-day global foreign exchange market, accounting for up to a fifth of all trading and about 70 percent of all orders placed on multi-dealer currency platform EBS, machine learning is still relatively new. UBS's ORCA-Direct learns in real time, utilizing historical trading data to find the bank's clients the best available liquidity when volatility rises.
Martin Lipton, Founding Partner of Wachtell, Lipton, Rosen & Katz By John Jannarone The largest institutional asset managers including Vanguard, State Street, and BlackRock have taken recent steps that align well with the tenets of The New Paradigm, according Martin Lipton, Founding Partner of Wachtell, Lipton, Rosen & Katz. “All three have beefed up their […]
FRANKFURT/ZURICH (Reuters) - Talks have stalled between Deutsche Bank and UBS on a tie up of their asset management businesses due to differences over who would control the combined entity, people familiar with the matter said. Such a tie-up still made strategic and financial sense and they did not rule out that talks may eventually be revived, three sources said, but both banks had wanted to drive the venture. Deutsche Bank, its asset management arm DWS, and UBS declined to comment.