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The S&P 500 closed at a nearly full-day high by hiking 11.42 points or 0.23% to 4,954.23, hitting its record high again. Nike (NKE.US) and Walt Disney Company (DIS.US) climbed 3% each, pushing the DJIA to close 141.24 points or 0.37% higher at 38,521.36. The treasury yield fell slightly. The Nasdaq closed 11.32 points or 0.0...
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UBS (UBS.US) is reviewing options for handling the Swiss arm of Credit Suisse (CS.US), including possibly keeping its investment banking business while selling the rest, Reuters reported, citing people familiar with the matter.UBS is looking at plans to sell Credit Suisse's banking business through an IPO after taking over a...
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U.S. equities' decline intensified on Wednesday as the quarterly results from First Republic Bank (FRC.US) and UBS (UBS.US) reignited concerns over the broader banking sector.Dow Jones Industrial Average contracted 344.57 pts, or 1.02%, to close at 33,530.83. Standard & Poor's 500 Index waned 65.41 pts, or 1.58%, to...
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UBS (UBS.US) announced its results for the first quarter ended March. Its net profit was USD1.029 billion, down 51.8% YoY and well below market expectations of USD1.71 billion, mainly due to a USD665 million increase in provisions in the US residential mortgage-backed securities (RMBS)-related litigation. Pre-tax profit for the ...
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Investors representing USD4.5 billion of Credit Suisse (CS.US)'s wiped-out Additional Tier 1 (AT1) bonds filed a lawsuit against Switzerland’s banking regulatory institution -- Finma, Financial Times reported.The bondholders slammed Finma's instruction to cancel the AT1 debt of Credit Suisse as unconstitutional and...
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