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BlackRock Forum & Polls16 hrs ago | Hugh Hewitt
UBS reports 1Q net loss $11 billion
“We can see tangible effects as a result of our initial responses to the losses”
Swiss bank UBS, hard hit by the U.S. subprime crisis, reported a first-quarter loss of $10.97 billion and said Tuesday it will slash almost 7 percent of its work force. via Hugh Hewitt
Sunday | Eircom.net News
End comes for brave Nuala in cancer battle
Writer dies just weeks after public revelation that she had disease THE end when it came for Nuala O'Faolain was mercifully swift. via Eircom.net News
Saturday May 10 | The Belfast Telegraph
Journalist Nuala O'Faolin dies aged 66
Journalist and author Nuala O Faolin has passed away at the age of 66. She recently announced that she was terminally ill with cancer. via The Belfast Telegraph
Friday May 9 | The Washington Post
UBS Reports $11 Billion Loss, Plans To Cut Jobs
“The impact of the investment banking group has an effect on the entire whole by bringing down the brand's value.”
UBS says it will cut 2,600 investment banking jobs, as Legg Mason posts first loss in 25 years. via The Washington Post
Thursday May 8 | Chico Enterprise-Record
A management school at the University of California, Los Angeles, has received a $10 million gift from a former student and his wife, the school's dean announced Thursday. via Chico Enterprise-Record
Thursday May 8 | International Herald Tribune
“We get called on all the time, but it's often not public”
One Saturday morning in March, Laurence Fink got some urgent news: Wall Street needed his help. via International Herald Tribune
Wednesday May 7 | Irish Independent
Swiss giant cuts jobs as losses soar to $17.3bn
UBS, battered by $17.3bn of first-quarter losses at its investment-banking unit, plans to cut 5,500 jobs and said clients withdrew a net $12.2bn from its asset- and wealth-management divisions. via Irish Independent
Wednesday May 7 | On Wall Street
BlackRock to Buy a UBS Portfolio
“This gives everyone something to price off of. This is very favorable for companies that have been waiting to sell these assets.”
BlackRock Inc.'s deal to buy a portfolio of subprime mortgage debt from UBS AG for $15 billion may have helped set a market-clearing price for such assets. via On Wall Street
Tuesday May 6 | MarketWatch
UBS to cut 5,500 jobs, sell $15 bln portfolio to BlackRock
“UBS expects this difficult environment to remain and be characterized by a continuing unfavorable global economic climate, de-leveraging by institutional and private investors, slower wealth creation and lower trading and capital market activity”
Troubled Swiss banking group UBS said Tuesday that it plans to cut 5,500 jobs and sell a $15 billion chunk of its risky mortgage assets to BlackRock Inc. via MarketWatch
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