More than seven banks are changing projecting that the European Central Bank would cut its interest rates after its meeting this November.
Tags: UBS
Credit Suisse names investment banker to lead Swiss ultra-rich clients
Credit Suisse is promoting veteran Swiss investment banker Thomas Gottstein to head up its ultra-rich clients business in Switzerland, highlighting the expertise increasingly sought by private banks to cater to their wealthiest customers.
UBS scales back its corporate advisory services in emerging markets
The Corporate Advisory Group of Swiss lender UBS, said three unnamed sources, will be scaling back its team in charge of providing corporate advisory and investment banking services to the ultra-rich in emerging markets including Asia and the Middle East.
UBS offers buyback of some Puerto Rico bond fund shares
Swiss lender UBS said it will be offering to repurchase some of the shares of its Puerto Rico bond funds. The buyback program came as the commonwealth's debt lost 16% this year.
BIS Industries buys Powertrans for USD30 million
Australia-based mining logistics firm BIS Industries is buying industrial transport company Powertrans for USD30 million in a debt-funded transaction which will be finalized in January.
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A new financial advisory services firm in London had been formed by three former bankers who had successful careers in mergers and acquisitions.
The U.S. Supreme Court dismissed a shareholder derivative lawsuit filed against UBS by pension plans in Puerto Rico.
Analysts of UBS boosted their sales projections for Apple and increased their price target to USD560 per share.
Steve Milunovich, an analyst from UBS, said Apple's iPhone M would outsell the company's flagship smartphone iPhone 5s next year.
The Swiss National Bank said that they are open to sell back the UBS assets that they took on during the global financial crisis.
Swiss banking giant UBS settled with the US Federal Housing Finance Agency to pay USD 885 million to Fannie Mae and Freddie Mac.
According to analysts, Apple Inc would only cut US$50 on the original price of iPhone so that it could maintain gross margins range of 36%-37%.
According to UBS, Apple needed to enhance it services and earn from new products for US$500 each stock.
The lack of immediate upgrades from Apple was said to be accountable for the decreasing demand for high-end smartphones.
