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(HBC) HSBC Holdings Plc – ADS – Bear of the Day

vitalstocks — Fri, 30 Dec 2011 18:17:22 +0000

We retain our Underperform recommendation on HSBC Holdings plc – ADS (HBC) with an Underperform recommendation. Our primary concern is the harsh impact from the deepening Eurozone crisis. Moreover, the company is suffering from weak revenue growth in its mature markets due to ongoing low interest rates and regulatory restrictions. The company’s cost containment measures [...]

(HBC) HSBC Holdings Plc – ADS – Bear of the Day

vitalstocks — Thu, 22 Dec 2011 18:14:37 +0000

We retain our Underperform recommendation on HSBC Holdings plc (HBC) with an Underperform recommendation. Our primary concern is the harsh impact from the deepening Eurozone crisis. Moreover, the company is suffering from weak revenue growth in its mature markets due to ongoing low interest rates and regulatory restrictions. The company’s cost containment measures will help [...]

(HBC) HSBC Holdings Plc – ADS – Bear of the Day

(UBS) UBS AG Acquires Stake in Chi-X

vitalstocks — Fri, 09 Dec 2011 17:34:36 +0000

UBS AG (UBS) acquired an equity stake in Chi-X Global Holdings LLC. The financial terms of the deal were not disclosed. Chi-X Global is an operator of technologically advanced alternative market centers and a provider of innovative market level trading solutions. Chi-X Global operates Chi-X Australia, Chi-X Canada and Chi-X Japan. It also operates Chi-East [...]

(UBS) UBS AG Acquires Stake in Chi-X

(HBC) Europe Withers, but the World Hopes

vitalstocks — Wed, 30 Nov 2011 20:11:04 +0000

Charles Dickens’ classic ‘A Tale of Two Cities’ begins: “It was the best of times, it was the worst of times…” Isn’t the world going through similar moments of despair and hope? The world hoped and hoped that the economic crisis that started in 2008 will soon end for the better with bailout packages and [...]

(HBC) Europe Withers, but the World Hopes

(HBC) HSBC Holdings to Divest Its Losango Unit

vitalstocks — Wed, 02 Nov 2011 21:05:30 +0000

On Thursday, Financial Times reported that HSBC Holdings Plc (HBC) is planning to sell its Losango consumer finance unit in Brazil, in yet another attempt to shed its non-core assets and improve efficiency. Presently, HSBC’s Losango unit has nearly 20 million clients and controls about 20% of the market share in Brazil’s consumer loan segment. [...]

(HBC) HSBC Holdings to Divest Its Losango Unit

(UBS) U.S. Economy – Inflation – Jobs – Manufacturing

vitalstocks — Mon, 19 Sep 2011 20:39:43 +0000

We have a range of economic data on tap today, from Jobless Claims and CPI to Industrial Production and regional manufacturing surveys. Europe will also be not far from investors’ mind, though the tone of recent headlines out of Europe has softened a bit. Some of the more dire concerns about Greece’s position in the [...]

(UBS) U.S. Economy – Inflation – Jobs – Manufacturing

(BCS) Company News for September 19, 2011 – Corporate Summary

vitalstocks — Mon, 19 Sep 2011 20:17:25 +0000

• Shares of blackberry smart phone maker Research In Motion Ltd. (NASDAQ:RIMM) declined 18.99% after the company posted poor earnings results that came in below expectations • New York Post reported that Apollo Global Management LLC (NASDAQ:APO) is expected to make an offer to buy deep discount chain 99 Cents (NYSE:NDN) for $22-$24 a share. [...]

(BCS) Company News for September 19, 2011 – Corporate Summary

(UBS) VIX Instruments: Why Investing in Volatility is Volatile

InvestmentU — Mon, 12 Sep 2011 17:22:39 +0000

by Justin Dove, Investment U Research Wednesday, September 7, 2011 The VIX Index is all over the place in financial media these days. As most investors gather, the VIX is a volatility measure that looks to quantify fear in the markets. Many media outlets report from time to time that the VIX, or the Chicago [...]

(UBS) VIX Instruments: Why Investing in Volatility is Volatile

(IBN) ICICI Bank Analyst Maintains Neutral Rating

vitalstocks — Tue, 16 Aug 2011 17:07:06 +0000

We are maintaining our Neutral recommendation on ICICI Bank Limited (IBN). Though we are concerned about ICICI’s highly competitive operating environment and below-average credit quality, we anticipate continued synergies from the company’s increased dependence on domestic loans, an almost stable funding base and market leadership in the insurance business. ICICI Bank’s fiscal first quarter 2012 [...]

(IBN) ICICI Bank Analyst Maintains Neutral Rating

(UBS) Non-U.S. Banks Stock Update – July 2011 – Industry Outlook

vitalstocks — Wed, 06 Jul 2011 19:32:51 +0000

Backed by worldwide regulatory reform, the global banking industry is currently going through a transformation phase. Though the growth potential of some non-U.S. banks could be subdued due to higher reserve requirements, increased property taxes and strict lending limits as part of the regulatory overhaul, greater transparency in regulation could strengthen the fundamentals of many [...]

(UBS) Non-U.S. Banks Stock Update – July 2011 – Industry Outlook

(HBC) HSBC Holdings Saudi Arm to Join SABB Securities

vitalstocks — Wed, 29 Jun 2011 16:31:32 +0000

HSBC Holdings Plc (HBC) announced that its Saudi Arabian wholesale and investment banking unit, HSBC Saudi Arabia, would merge with SABB Securities Ltd., a wholly-owned brokerage and custody business unit of The Saudi British Bank. However, the company did not disclose the terms of the deal. HSBC will have a 49% stake in the new [...]

(HBC) HSBC Holdings Saudi Arm to Join SABB Securities

(RBS) Royal Bank of Scotland Group Boosts Chinese Investment

vitalstocks — Tue, 28 Jun 2011 16:00:28 +0000

Royal Bank of Scotland Group Plc. (RBS) has boosted its investment banking business in China by appointing two senior investment bankers to its team. RBS appointed Wei Wang as head of China financial institutions group and Qing Zhu as head of China energy and resources. Wang previously served in Citigroup Inc. (C) as head of [...]

(RBS) Royal Bank of Scotland Group Boosts Chinese Investment

(UBS) Basel Wants Big Banks to Store More

vitalstocks — Mon, 27 Jun 2011 18:53:27 +0000

On Saturday, the oversight body of the Basel Committee on Banking Supervision proposed new rules that would force the world’s biggest banks to hold extra capital on their balance sheets as protection and prevention against global financial crisis, the Associated Press reported. The targeted banks are those that could threaten global economy if they collapse. [...]

(UBS) Basel Wants Big Banks to Store More

(HBC) HSBC Holdings Plc-Madoff Trustee Lawsuit

vitalstocks — Sun, 26 Jun 2011 17:41:53 +0000

HSBC Holdings Plc (HBC) will have to wait for about a month (July end) for the verdict whether the trustee of Bernard L. Madoff Investment Securities LLC can be allowed to proceed with a $9 billion lawsuit accusing the company of having enabled the huge fraud. In December last year, a lawsuit was filed against [...]

(HBC) HSBC Holdings Plc-Madoff Trustee Lawsuit

(CS) Company News for June 14, 2011 – Corporate Summary

vitalstocks — Wed, 15 Jun 2011 03:24:03 +0000

• Share prices of Transatlantic Holdings (NYSE:TRH) climbed 9.50% after the reinsurer announced it was merging with Switzerland based reinsurer World Assurance Company Holdings AG AWH in a deal worth $3.2 billion • On Monday, Wendy’s/Arby’s Group (NYSE:WEN) announced it was selling its Arby’s restaurant business to a buyer formed by Roark Capital. Atlanta-based Arby’s [...]

(CS) Company News for June 14, 2011 – Corporate Summary

vitalstocks — Tue, 14 Jun 2011 15:03:54 +0000

(CS) Company News for June 14, 2011 – Corporate Summary

(AIB) Company News for May 18, 2011 – Corporate Summary

vitalstocks — Wed, 18 May 2011 15:20:29 +0000

• Dell Inc. (NASDAQ:DELL) reported Q1 EPS of $0.55, higher than the Zacks Consensus Estimate of $0.43 per share. Revenue for the quarter edged up 1% year-over-year to $15.02 billion, falling short of the Zacks Consensus Estimate of $15.457 billion • Share prices of US listed Allied Irish Banks, PLC. (NYSE:AIB) rose 13.33% to close [...]

(AIB) Company News for May 18, 2011 – Corporate Summary

(UBS) UBS AG Faces FINRA Fines

vitalstocks — Tue, 12 Apr 2011 20:10:00 +0000

UBS AG (UBS) has hit the headlines again, this time for a wrong reason. Its wealth management services unit has been fined by the Financial Industry Regulatory Authority (FINRA) for misleading investors about the risks associated with certain notes of Lehman Brothers Holdings it sold. FINRA has fined UBS AG with $2.5 million and further [...]

(UBS) UBS AG Faces FINRA Fines

(MTU) Mitsubishi UFJ Financial Group and Morgan Stanley to Cut Jobs?

vitalstocks — Fri, 31 Dec 2010 20:31:32 +0000

Mitsubishi UFJ Morgan Stanley Securities Co., a joint venture between Mitsubishi UFJ Financial Group Inc. (MTU) and Morgan Stanley (MS), is planning to right-size its company by trimming its payroll. The company would offer an early retirement program from February, according to a report in the Nikkei business daily. The job cut comes on the [...]

(MTU) Mitsubishi UFJ Financial Group and Morgan Stanley to Cut Jobs?

(SIVR) Is Silver Set to Beat Out Gold?

InvestmentU — Tue, 26 Oct 2010 16:02:04 +0000

by Tony D’Altorio, Investment U Research Monday, October 25, 2010 Silver has served as a measure of value and currency for over 4,000 years. As early as around 600 B.C., citizens of Lydia used it for coins. But while hardly new, it’s still giving investors something to talk about these days. In the past month, [...]

(SIVR) Is Silver Set to Beat Out Gold?

(UBS) UBS AG Profits – Client Funds Inflow Positive Now

vitalstocks — Tue, 26 Oct 2010 15:57:03 +0000

UBS AG (UBS) has posted a profit in the third quarter of 2010 and has reported positive client money flows after reporting outflows for the past several quarters. The company reported a net profit of CHF 1.7 billion ($1.7 billion) compared with CHF 2.0 billion in the prior quarter and a loss of CHF 0.6 [...]

(UBS) UBS AG Profits – Client Funds Inflow Positive Now

(AIB) Allied Irish Banks Announces Sale of M&T Bank Stake

vitalstocks — Mon, 11 Oct 2010 15:42:51 +0000

In an effort to generate sufficient capital, Allied Irish Banks plc (AIB) announced yesterday that it would sell its 22.4% shareholding in M&T Bank Corporation (MTB). The sale involves a public offering of 26.7 million notes that are exchangeable for the shares of common stock of M&T currently owned by it. The deal is subject [...]

(AIB) Allied Irish Banks Announces Sale of M&T Bank Stake

(DB) Deutsche Bank AG Expects Third Quarter Earnings Loss

vitalstocks — Thu, 23 Sep 2010 15:10:29 +0000

Deutsche Bank AG (DB) expects a loss in the third quarter of 2010. This is due to a €2.3 billion ($3 billion) charge from the revaluation of the company’s stake in Deutsche Postbank, which the company agreed to purchase in 2008. Weak market conditions during the third quarter have added to its woes. Deutsche Bank’s [...]

(DB) Deutsche Bank AG Expects Third Quarter Earnings Loss

(BCS) Company News for September 16, 2010 – Corporate Summary

vitalstocks — Thu, 16 Sep 2010 15:48:32 +0000

• FedEx (NYSE:FDX) posted fiscal first quarter earnings one cent below consensus expectations, coming in at $1.20 on a revenue gain of 18.1% to $9.46 billion, above projections of $9.39 billion. The company raised its fiscal 2011 guidance to $4.80-$5.25 • Microsoft (NASDAQ:MSFT) launched its new videogame “Halo: Reach,” with global sales topping $200 million on the [...]

(BCS) Company News for September 16, 2010 – Corporate Summary

(BCS) Does the U.S. Have Another Recession Ahead?

vitalstocks — Tue, 31 Aug 2010 03:50:03 +0000

Are we heading into another financial meltdown? That is what the data released by the U.S. government last Friday seems to suggest. Statistics revealed by the Bureau of Economic Analysis shows economic growth that is stalling and may even flatten out over the rest of the year, raising specters of another recession ahead. While the [...]

(BCS) Does the U.S. Have Another Recession Ahead?

(STD) Banco Santander SA on Acquisition Spree

vitalstocks — Tue, 24 Aug 2010 02:38:30 +0000

Banco Santander SA (STD) is on an acquisition spree. The company is intending to acquire a stake in Bank Zachodni WBK, a Polish Bank. In fact, Santander is planning to buy three overseas businesses from Allied Irish Banks (AIB), according to a report in the Financial Times. As part of the restructuring efforts following the [...]

(STD) Banco Santander SA on Acquisition Spree

(DB) Deutsche Bank AG Forms Alliance with Craigs Investment Partners Limited of New Zealand

vitalstocks — Mon, 16 Aug 2010 19:47:50 +0000

On Wednesday, Deutsche Bank AG (DB) and Craigs Investment Partners Limited of New Zealand announced the completion of their strategic alliance. As per the terms of the alliance, Deutsche Bank would hold a 49.9% equity interest in Craigs, while the remaining 50.1% will be held by the existing shareholders of Craigs Investment. When the agreement [...]

(DB) Deutsche Bank AG Forms Alliance with Craigs Investment Partners Limited of New Zealand

(UBS) UBS AG Sells $1.5 Billion Notes

vitalstocks — Tue, 10 Aug 2010 17:51:37 +0000

UBS AG (UBS) has sold $1.5 billion of senior unsecured bank notes through its Stamford branch. The notes have a coupon rate of 2.25% and mature on August 12, 2013. Ratings from Moody’s Investor Services ? a unit of Moody’s Corp. (MCO) ? and Standard & Poor’s are “Aa3” and “A+”, respectively. The sole book [...]

(UBS) UBS AG Sells $1.5 Billion Notes

(UBS) UBS AG Announces They Will Pay $81 Million to Settle Charges

vitalstocks — Tue, 10 Aug 2010 17:43:57 +0000

UBS AG (UBS) has hit the headlines again but this time for a wrong reason. The company has been ordered to pay $80.8 million by the Financial Industry Regulatory Authority Inc.’s (“FINRA”) arbitration panel in order to settle a damage claim brought forward by Kajeet Inc. Kajeet, a cellphone marketer based in Bethesda, Maryland, had [...]

(UBS) UBS AG Announces They Will Pay $81 Million to Settle Charges

(RBS) Royal Bank of Scotland Group Sells 318 Branches to Banco Santander

vitalstocks — Mon, 09 Aug 2010 14:36:09 +0000

Royal Bank of Scotland Group plc.(RBS) has announced that it is selling its 318 branches and associated assets and liabilities to Santander UK plc., the U.K. unit of Banco Santander SA (STD). The selling price is at a premium of GBP350 million to net assets at closing. This business’ implied equity is GBP1.3 billion. The [...]

(RBS) Royal Bank of Scotland Group Sells 318 Branches to Banco Santander

(RBS) Royal Bank of Scotland Group Fined $8.9 Million by U.K. Financial Services Authority

vitalstocks — Fri, 06 Aug 2010 16:47:27 +0000

Royal Bank of Scotland Group plc (RBS) has been fined £5.6 million ($8.9 million) by the U.K. Financial Services Authority (FSA). The fine follows the company’s failure to possess adequate systems and controls for preventing the violation of the U.K. financial sanctions. However, as the claims are settled by RBS early, a 30% reduction in [...]

(RBS) Royal Bank of Scotland Group Fined $8.9 Million by U.K. Financial Services Authority

(STD) Banco Santander SA on Acquisition Spree

vitalstocks — Wed, 04 Aug 2010 21:14:09 +0000

Spain’s Banco Santander SA (STD) is on an acquisition spree. According to a report in Financial Times, the company has a number of acquisitions lined up in both the U.S. and the U.K. The Spanish banking giant is set to acquire 318 branches from the Royal Bank of Scotland Group plc (RBS) in the U.K. [...]

(STD) Banco Santander SA on Acquisition Spree

(BCS) Seven European Banks Fail Stress Tests

vitalstocks — Mon, 02 Aug 2010 21:51:46 +0000

Europe stress-test results are out and only seven banks were found to be incapable of enduring another recession. However, no major banks have failed the test. The findings of the stress test that covered around 91 banks — accounting for 65% of the banking market in Europe and approximately 50% of the market share in [...]

(BCS) Seven European Banks Fail Stress Tests

(DB) Deutsche Bank AG’s Second Quarter Profit Grows

vitalstocks — Thu, 29 Jul 2010 14:24:36 +0000

Deutsche Bank AG (DB) reported a second quarter net income of €1.2 billion ($1.5 billion) or €1.75 a share, up from €1.1 billion or €1.64 per share a year earlier. While the company experienced a substantial drop in revenues from investment banking, this was more than mitigated by lower loan loss provisions, gains realized from [...]

(DB) Deutsche Bank AG’s Second Quarter Profit Grows

(HBC) HSBC Clients Under U.S. Tax Review

vitalstocks — Sun, 25 Jul 2010 17:55:03 +0000

In an effort to clamp offshore tax evasion, the U.S. authorities are investigating the U.S. clients of HSBC Holdings plc. (HBC). The clients in question are suspected not to have disclosed their accounts in India and Singapore, according to a Bloomberg report. Bloomberg reported that the U.S. Justice Department has initiated a criminal investigation against [...]

(HBC) HSBC Clients Under U.S. Tax Review

(UBS) UBS AG Earns Spot as #2 Global Wealth Managers Despite Odds

vitalstocks — Sat, 10 Jul 2010 13:55:00 +0000

In spite of the tax probe against UBS AG (UBS) that threatened the company’s age-old secrecy laws, the company ranked #2 as global wealth managers in 2009 as per the Global Private Banking study from Scorpio Partnership. The company came just behind Bank of America Corporation (BAC). According to the report that was published in [...]

(UBS) UBS AG Earns Spot as #2 Global Wealth Managers Despite Odds

(BCS) U.S. Consumer Credit Down 4.5% in May

vitalstocks — Fri, 09 Jul 2010 13:34:27 +0000

According to data released by the Federal Reserve on Thursday, U.S. consumer credit declined by $9 billion, at an annualized rate of 4.5%, in May to $2.42 billion. Following a $14.9 billion drop in April, this represents a decline for the fourth consecutive month. The decline in consumer credit reflects consumers’ unwillingness to take on [...]

(BCS) U.S. Consumer Credit Down 4.5% in May

(HBC) HSBC Holdings Announces it Will Acquire Royal Bank of Scotland’s Indian Unit

vitalstocks — Wed, 07 Jul 2010 13:55:18 +0000

HSBC Holdings Plc (HBC) on Friday announced that it will acquire the retail and commercial banking businesses of Royal Bank of Scotland Group Plc (RBS) in India. RBS has an Indian portfolio with a gross asset value of $1.8 billion as of March 31, 2010. Under the terms of the agreement, HSBC will pay a [...]

(HBC) HSBC Holdings Announces it Will Acquire Royal Bank of Scotland’s Indian Unit

(UBS) UBS AG Posted Second Quarter Profits – Outflows Fall

vitalstocks — Thu, 06 May 2010 23:22:59 +0000

UBS AG (UBS) has posted its second consecutive quarter of net profit, aided by strong contribution from its Investment Bank division and a drop in client money outflows. UBS AG reported a first quarter net profit of CHF 2.2 billion ($2.08 billion) compared with a profit of CHF 1.21 billion in the prior quarter and [...]

(UBS) UBS AG Posted Second Quarter Profits – Outflows Fall

(IBN) ICICI Bank Limited Reports Earnings Rise

vitalstocks — Tue, 27 Apr 2010 17:39:21 +0000

ICICI Bank Limited (IBN) reported 2010 fiscal fourth quarter and full fiscal year (ended March 31) last week. For the fourth quarter, profit increased 35% year over year to INR10.06 billion (US$224 million). For full fiscal year 2010, ICICI Bank reported a profit of INR40.25 billion (US$896 million), up 7% year over year. Quarterly results [...]

(IBN) ICICI Bank Limited Reports Earnings Rise

(UBS) UBS AG Projects Pre-Tax Profit – Deposit Outflows Slow

vitalstocks — Tue, 13 Apr 2010 03:59:52 +0000

UBS AG (UBS) has announced today that it expects to report a pre-tax profit of at least CHF 2.5 billion ($2.3 billion) in the first quarter of 2010. The news comes just prior to its Annual General Meeting which is scheduled on April 14. The company intends to report its first quarter results on May [...]

(UBS) UBS AG Projects Pre-Tax Profit – Deposit Outflows Slow

(BMO) Bank of Montreal – Improving Business in the First Quarter of 2010

vitalstocks — Mon, 05 Apr 2010 17:42:50 +0000

Bank of Montreal (BMO) has been hitting new 52-week highs as the global recovery appears to be heating up. I last reviewed BMO in July 2009 just as the recovery was taking hold in the financial sector. Despite a run-up in the stock, the company still has an attractive P/E ratio of 13.9, which is [...]

(BMO) Bank of Montreal – Improving Business in the First Quarter of 2010

($RBS) Outlook for the Non-U.S. Banks Industry

vitalstocks — Tue, 30 Mar 2010 14:17:43 +0000

Starting as a credit issue in the subprime segment of the U.S. mortgage market, the worst financial crisis since the Great Depression has now spread to almost the entire global financial services industry. However, we believe that the worst of the global financial crisis is behind us. Although non-U.S. banks are still dealing with liquidity [...]

($RBS) Outlook for the Non-U.S. Banks Industry

(UBS) UBS AG Pays Executives $51.8 Million

vitalstocks — Thu, 18 Mar 2010 18:36:37 +0000

Bailed out Swiss bank UBS AG (UBS), which suffered a loss for a third consecutive year, has paid out $51.8 million in compensation to executive board members for 2009. After repaying the $5.6 billion funds it received in 2008, the bank is now free to set its own compensation policies. Among the board members, Carsten [...]

(UBS) UBS AG Pays Executives $51.8 Million

(DB) Deutsche Bank AG Turns Profit

vitalstocks — Thu, 04 Feb 2010 22:16:04 +0000

Deutsche Bank AG (DB) reported a fourth quarter net income of €1.3 billion ($1.9 billion) or €2.00 a share, compared to a net loss of €4.8 billion or €8.71 per share a year earlier. Results were primarily driven by a tax benefit. Additionally, the company experienced an increase in sales and trading revenue in the [...]

(DB) Deutsche Bank AG Turns Profit

(CS) Case Schiller Indexes Show Home Prices Edge Up

vitalstocks — Tue, 26 Jan 2010 22:33:56 +0000

In November, housing prices increased by 0.24% on a seasonally adjusted basis for both the Case Schiller (CS) Composite 10 (CS-10) and Composite 20 (CS-20) city indexes. The CS indexes are considered the gold standard of housing price indexes, and track actual repeat sales, and are thus not influenced by mix changes the way that [...]

(CS) Case Schiller Indexes Show Home Prices Edge Up

(UBS) Swiss Ruling Worries UBS Investors

vitalstocks — Tue, 26 Jan 2010 04:44:58 +0000

Last Friday, a Swiss court ruled against the transfer of data of American clients of UBS AG (UBS). This ruling has raised doubts about the settlement that had enabled the US authorities to get the details of alleged tax-evading American clients of UBS AG. According to the ruling, if a client fails to fill out [...]

(UBS) Swiss Ruling Worries UBS Investors

(IBN) ICICI Bank Limited’s Profit Increases

vitalstocks — Mon, 25 Jan 2010 20:49:43 +0000

ICICI Bank Limited’s (IBN) 2010 fiscal third quarter (ended December 31) net earnings rose 6% sequentially to INR11.01 billion (US$237 million). The results were primarily driven by a decrease in loss provisions and reduced operating expenses. However, net earnings of ICICI Bank were down 13% on a year-over-year basis, primarily due to the absence of [...]

(IBN) ICICI Bank Limited’s Profit Increases

(STD) Investing in Brazil: Two Ways to Profit From This Emerging Market’s Multiple Growth Trends

InvestmentU — Tue, 12 Jan 2010 23:02:23 +0000

by Tony Daltorio, Investment U Research Team Monday, January 11, 2010 Soccer… the Samba… and carnivals. These are the things that spring to mind when you mention Brazil. But these days, the country is increasingly considered an excellent destination for investment capital, too. In fact, it may very well become one of the 21st century’s [...]

(STD) Investing in Brazil: Two Ways to Profit From This Emerging Market’s Multiple Growth Trends

(UBS) Canada Presses UBS AG for Client List

vitalstocks — Fri, 08 Jan 2010 20:56:53 +0000

Canada continues to pursue UBS AG (UBS) for the details of Canadian clients who have accounts in the Swiss bank. The Canadian government is negotiating with the Swiss Bank since September last year. However, Canada’s Revenue Minister Jean-Pierre Blackburn has warned that, if required, Canada will take UBS to court to extract the details of [...]

(UBS) Canada Presses UBS AG for Client List