UBS posts 28% earnings gain, but expects slower second half

Article Abstract:

UBS AG posts strong earnings for the first half of 2004, but says it does not expect to maintain the same level of earning for the second half of the year. Even though the h igh earnings resulted from financial-market trading revenues, the Swiss bank is choosing to focus its attention on expanding its wealth management unit. Chief Executive Peter Wuffli has said the bank will be seeking to expand its existing operations instead of making acquisitions.

Strategy & planning, Foreign operations, Financial management, Switzerland, Planning, Europe, Finance, Company business planning, Company financing

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Subprime hits seem likely to keep coming: banks like UBS, Citi may face more charges than they've yet taken

Article Abstract:

The recent credit woes driven by subprime lending may force banks to increase their fourth-quarter write-downs. UBS AG is expected to write-down as much as $7.11 bil, while Citigroup Inc. has already announced it may take write-downs totaling between $8 bil to $11 bil. UK bank Barclays PLC is expected to write-down between $2.9 bil and $3.1 bil.

Financial Services, Finance and Insurance, DEPOSITORY INSTITUTIONS, United Kingdom, United States, Financial services industry, Barclays PLC, Citigroup Inc., C

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UBS alert signals pain isn't over: potential mortgage losses mean more credit turmoil, frustrating investor hopes

Article Abstract:

A fourth-quarter warning issued by Swiss bank UBS AG indicates the continuing negative impact of subprime lending on credit markets. Although its fourth quarter began well, UBS expects further write-downs fostered by new mortgage securities downgrades.

Mortgage-backed securities, Mortgage backed securities, Financial report

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