UBS, Citi lose $51m on Facebook IPO

Source: Australian IT

THE market-making arms of UBS and Citigroup suffered combined losses of about $US50 million ($51.2m) on trades made during this month's glitch-plagued listing of Facebook on the Nasdaq Stock Market. Citigroup's losses stemming from the ...
Full article at: Australian IT  More like this  30 minutes ago

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Investors grapple with US data and potential Greek exit

Source: TVNZ

Investors will grapple this week with major US economic reports and the looming possibility of a Greek exit from the euro zone, which is likely to keep dragging on equities for weeks to come. As contingency plans are m ...
Full article at: TVNZ  More like this  2 hours ago

Greeks not alone in bank savings exodus

Source: Business Standard

It is not only Greeks who are worried about their savings. Data shows depositors have also taken flight from banks in Belgium, France and Italy. Greek savers may be gripped by a “great fear that could develop i ...
Full article at: Business Standard  More like this  2 hours ago

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A plan to help shrink mobile phone bills

Source: Livemint.com

Chennai: When Delhi-based financial adviser Manish Sinha racked up a phone bill of Rs 1.62 lakh in a month a year ago, he had not anticipated that 3G (third generation) data usage could put a serious hole ...
Full article at: Livemint.com  More like this  3 hours ago

Stimulus is important measure, analysts say

Source: China Daily

Large manufacturers with falling sales seek to boost market share Large manufacturers, strugng against falling profits and slower growth, are pinning their hopes on government stimulus measures and reform, economic analysts said. Earnings among ...
Full article at: China Daily  More like this  3 hours ago

Kuwaiti shaikh sues UBS for unpaid adviser fees

Source: Gulfnews

Dubai: A member of Kuwait's ruling family, Shaikh Mesha'al Jarah Al Sabah, is suing Swiss bank UBS in Dubai, alleging unpaid fees. UBS AG invited Shaikh Mesha'al to apply for a non-executive position with t ...
Full article at: Gulfnews  More like this  5 hours ago

Bank of America Lags Its Peers in Recovery From Foreclosure Mess

Source: AOL News

With the news that Bank of America (NYS: BAC) is on track to notify more than 200,000 mortgage loan customers of their possible eligibility for principal forgiveness, the whole messy foreclosure business once again ...
Full article at: AOL News  More like this  5 hours ago

Australia won't be spared in crisis

Source: The Australian

UBS'S respected global economist Paul Donovan believes the troubled eurozone will survive the current crisis but warns that Australia will be hit as the powerful Asian region slows down as a result. Mr Donovan, in Sydney to brief the investment bank's ...
Full article at: The Australian  More like this  6 hours ago

Turkey boosts gold holdings as price rises

Source: Gulfnews

London: Turkey expanded its gold reserves by 29.7 metric tonnes in April as Ukraine, Mexico and Kazakhstan increased their holdings of the metal, International Monetary Fund data show. Turkey's bullion reserves climbed to 239.3 to ...
Full article at: Gulfnews  More like this  6 hours ago