UBS yesterday piled on the agony for its shareholders by finally admitting that it faced further write-downs. The Swiss bank said that if it managed to break even in the second quarter it would only be due to an unexpected tax credit. The bank, once ...

Battered Swiss bank UBS said on Friday it should be saved from another hefty loss in the second quarter by a large tax credit, giving a much-needed boost to its share price. UBS, which has written $37 billion off its assets as a result of the credit ...

UBS, the Swiss bank battered by the mortgage crisis, today insisted it would not need to raise more funds through a rights issue after being saved from announcing further losses by clawing in SwFr3 billion (£1.5 billion) from a tax credit. The bank ...

Justice Department officials have asked a federal court to let the IRS request client information from Swiss bank UBS, after a former UBS banker

July 1 (Bloomberg) -- A U.S. legal action that would force Swiss bank UBS AG to reveal the names of American customers with secret accounts may prompt some to pay back taxes rather than risk a criminal investigation by the Internal Revenue Service ...

UBS signalled it will cut its investment bank to a rump after lost bets in subprime mortgages landed the Swiss bank with a $37 billion (U.S.) bill

LONDON (Reuters) - Credit Suisse Group is axing about 500 more jobs across its investment banking and shared services divisions, the Swiss bank said

...downs this week, the departing chairman, Marcel Ospel, said Friday that dividing the Swiss bank’s investment arm from its booming wealth...