23 Aug '11, 7am

UBS will axe 3,500 staff - almost half from its investment banking wing

ZURICH - Swiss bank UBS plans to slash around 3,500 jobs, almost half of them from its investment bank, as it seeks to shave some 2 billion Swiss francs (S$3.06 billion) from annual costs by the end of 2013. UBS had already said it would cut jobs when it posted a lower-than-expected second-quarter profit last month as its underperforming fixed income business weighed. Like rival Credit Suisse, UBS has been grappling with rising regulatory costs and a record high Swiss franc which are eating into profits. "The measures announced today are designed to improve operating efficiency. UBS will continue to be vigilant in managing its cost base while remaining committed to investing in growth areas," UBS said today in a statement. Around 45 per cent of the cuts will come from UBS' investment bank, 35 per cent from wealth management and Swiss bank, 10 per cent from global asset man...

Full article: http://www.todayonline.com/Business/EDC110823-0000810/UBS...

Tweets

blogged!!!! <3

pxdkitty.blogspot.com 27 Aug '11, 9am

Sorry if it sounds weird, this is an original and it's our first time!! (and we spent 1 night writing it) Our first time r...

Bank of America to cut 3,500 jobs

Bank of America to cut 3,500 jobs

channelnewsasia.com 19 Aug '11, 6am

NEW YORK: Bank of America will cut 3,500 jobs this quarter as part of a wider restructuring that could lead to the loss of...

3 Ways to Improve Online Income

adsighted.com 25 Aug '11, 2am

Provide in Notes Online in Three Simple Measures If you are significant about making money online , you need to go by a fe...

Launched! <3

Launched! <3

Made of light-weight cotton, Lighter colors are slightly sheer (Model wearing black bra) Sleeves can be cuffed up & button...

Steve Jobs' resignation cost Standard & Poor's ...

todayonline.com 25 Aug '11, 6am

NEW YORK - The cost of Apple CEO Steve Jobs' resignation seems to be tagged at US$52 billion (S$62.8 billion). Future trad...