UBS

Banking giant UBS could cut thousands of jobs in London as part of a plan to split its operations.

The former UBS trader accused of losing the bank more than $2bn in unauthorised trades owed money to eight payday loan firms when he was arrested last year, a court heard yesterday.

Switzerland's biggest bank UBS and Deutsche Bank, Germany's largest lender, have both posted sharp falls in profits for Q2 as fees and commissions dwindled in the face of the eurozone crisis.

At least $21trn of unreported private wealth was being hidden in secret tax havens at the end of 2010 by the world's super rich, a major study has revealed.

Economists say the sharp drop in inflation announced today could justify a further round of quantitative easing by the Bank of England.

The Upper Tribunal has upheld the Financial Services Authority's (FSA's) decision to ban and fine two former UBS advisers £1.3m in relation to an unauthorised trading scheme.

LOSSES

UBS has been granted a licence from FTSE Group to use its recently launched currency product, FTSE WPU (World Parity Unit).

UBS shareholders including F&C are set to rebel against the Swiss bank's proposed pay packages for its top executives, echoing the moves taken by Barclays shareholders last week.

Seven fund management groups reveal how they are adding risk back into their portfolios.