UBS shares fell Wednesday on a report that the U.S. Justice Department believes Credit Suisse may have helped Russian clients sidestep and itself may be...
Shares of UBS Group AG came under pressure on Wednesday after a report that the U.S. Justice Department suspects Credit Suisse helped Russian clients evade sanctions and may be looking at compliance failures at its new parent company.
UBS purchased Credit Suisse earlier this year for more than $3 billion with the government’s backing. The combined Swiss bank reported a blowout net profit of $28.88 billion in the second quarter, from $2.11 billion in the previous quarter, mostly due to negative goodwill from the Credit Suisse purchase.
A lingering headache for UBS, Credit Suisse is also the subject of other probes by the U.S. department which is still trying to determine whether the bank helped U.S. clients hide their assets, years after it paid a settlement of $2.6 billion on tax evasion.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
UBS shares drop on report DOJ probes Credit Suisse over Russian sanctions evasionThe Justice Department reportedly suspects Credit Suisse helped Russian clients evade sanctions, according to a published report. The report, from Bloomberg...
Leer más »
French court to rule in November on UBS' tax evasion appeal -UBS lawyer By ReutersFrench court to rule in November on UBS' tax evasion appeal -UBS lawyer
Leer más »
AI being used in loan, credit card approval: What does this mean?Artificial intelligence is changing how we're evaluated for loans and credit cards as many lenders use it to evaluate credit worthiness on much more data than your credit history.
Leer más »
UBS shares rattled by report of US probe into Russia sanctions evasionUBS shares plunged Wednesday following a report that the Swiss bank faces a widening probe by the US Department of Justice over suspected compliance failures that allowed Russian clients to evade sanctions. compliance failures that allowed Russian clients to evade sanctions.
Leer más »
These are the most overvalued housing markets in the world, according to UBSHouse prices declined in several major cities around the world over the last year, while some cities are entering 'bubble' territory.
Leer más »
Peloton’s stock enters record-low territory after UBS cuts price target in halfPeloton's stock fell into fresh record-low territory Monday, after UBS slashed its price target in half.
Leer más »