| What happened to UBS (bank)?

What happened to UBS (bank)?

HenryHona asked the question:


Well, anyone could explain to me the kind of trouble that UBS (the financial services company) has gone through recently? There was something about a scandal…also wikipedia shows negative operating and net income for 2008. Why is this?

Related posts:

  1. Need financial help ? Apply for A loan? beachel k asked the question: GUARANTEED EASY LOANS!!!!!! APPLY NOW...
  2. which act permits bank holding companies greater freedom to engage in a full range of financial services? Lyubov L asked the question: a. Federal Reserve Act b....
  3. How do you introduce yourself to a department you want to work for? Val V asked the question: I work for a financial...
  4. Derivatives Department workers? Soji Guy asked the question: In a financial services company...

Filed Under Corporations |

Tagged With , ,

Comments

One Response to “What happened to UBS (bank)?”

  1. Marvin the Martian on January 6th, 2009 3:57 pm

    UBS has had some financial problems. It announced that it made a net loss of CHF 4,384 million (CHF of course meaning Swiss Franc) on for the year ended December 2007. Furthermore, UBS also announced that it was to cut 5,550 jobs by the middle of next year and to add more fuel to the fire, went after an array of lawsuits including one that costed around $19 billion against NY attorney generals office over auction rate securities. Their stock price is currently selling pretty low too: