{
}
The EU's General Court has upheld a €172.4 million antitrust fine against UBS for its role in a bond trading cartel, while slightly reducing fines for UniCredit and Nomura. The total fines imposed by the European Commission on the three banks amounted to €371 million. Other banks involved, such as NatWest and Bank of America, were not fined for various reasons, including NatWest's initiation of the proceedings.
UBS has been ordered to pay the full EU antitrust fine of €172.4 million for its role in a bond trading cartel, as confirmed by Europe's second-highest court. The court also reduced fines for UniCredit to €65 million and Nomura to €125.6 million, while other involved banks were not fined.
UBS has confirmed its share buyback plans for 2025, totaling $3 billion, with $1 billion targeted for the first half and up to $2 billion for the second half, contingent on capital requirement stability. CEO Sergio Ermotti noted that clarity on potential capital tightening from the Swiss Ministry of Finance is expected in May, though the outcome remains uncertain.
UBS reported a profit of $1.43 billion for Q3 2024, significantly surpassing expectations of $740 million, driven by cost-cutting and high transaction volumes. The bank is ahead of schedule in its $13 billion cost reduction plan following the Credit Suisse takeover, with plans to cut around 7.5 billion by year-end. Despite challenges in the global economy and geopolitical tensions, UBS remains optimistic, having attracted $25 billion in new wealth management inflows during the quarter.
Myria Mildenberger
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
eu court upholds fine against ubs in bond cartel case
Euro
Bank of America Corporation
Nomura Holdings, Inc.
UniCredit S.p.A.
NatWest Group plc
CHE
Foo Yun Chee
Myria Mildenberger
Paul Arnold
Ariane Lüthi
Show more
12:47 26.03.2025
ubs ordered to pay full eu fine in bond cartel case
Euro
Bank of America Corporation
Nomura Holdings, Inc.
UniCredit S.p.A.
NatWest Group plc
CHE
Foo Yun Chee
Myria Mildenberger
Paul Arnold
Show more
10:59 26.03.2025
ubs reaffirms three billion dollar share buyback plans for 2025
10:51 19.03.2025
ubs reports strong quarterly profit driven by cost cuts and high earnings
United States Dollar
UBS AG
Wall Street banks
Credit Suisse Anlagestiftung
Thomson Reuters Corporation
Deutsche Bank Aktiengesellschaft
DEU
CHE
LUX
HKG
Myria Mildenberger
Sergio Ermotti
Oliver Hirt
Show more
07:26 30.10.2024
Trending
Subcategory
Stock Market Updates
Corporate News
Industry Trends
Banking Regulations
Finance Mergers & Acquisitions
Global Financial Events
Retail and Consumer Goods
Central Bank Actions
GDP Growth & Recession Forecasts
CEO Changes
Global Trade Developments
Financial Scams and Security
Industry Mergers & Acquisitions
Market Analysis and Predictions
Inflation and Monetary Impact
Government Policies
Government Economic Policies
Supply Chain Management
Domestic Politics
Workplace Trends
Countries:
Companies:
The Goldman Sachs Group, Inc.
JPMorgan Chase & Co.
Tesla, Inc.
Apple Inc.
Bank of America Corporation
Barclays PLC
Wells Fargo & Company
Citigroup Inc.
Deutsche Bank Money Market PP
Morgan Stanley
Huawei Technologies CO. Ltd.
Lloyds Banking Group plc
Credit Suisse Strategic Income I
AXA SA
Safran SA
Banco Santander, S.A.
Novartis AG
Swiss Re AG
Beazley plc
UBS AG
Currencies:
United States Dollar
Euro
Chinese Yuan
British Pound Sterling
Swiss Franc
Japanese Yen
Indian Rupee
Russian Ruble
Canadian Dollar
Australian Dollar
United Arab Emirates Dirham
Saudi Riyal
Danish Krone
Offshore Chinese Yuan
Mexican Peso
Indonesian Rupiah
South Korean Won
Malaysian Ringgit
Vietnamese Đồng
New Zealand Dollar
People: