UBS to Plead Guilty on Libor, Settle Currency Probe With Fed
UBS Group AG will pay $545 million to settle U.S. investigations into its role in manipulating currency and interest rates, removing two of the bank’s biggest legal hurdles.
Bundesbank Head Said to Have Threatened Resignation Over Bonds
Jens Weidmann, president of Germany’s Bundesbank, reportedly threatened to resign over the issue of bond purchases by the ECB, according to a German tabloid.
ECB Battle: Draghi vs. Weidmann
ECB President Mario Draghi is challenging Bundesbank President Jens Weidmann’s opposition to a plan for the ECB to reenter the bond markets.
Draghi’s Dilemma: ‘Whatever it takes’ Could Alienate Fellow ECB Members
Mario Draghi, president of the ECB, may have painted himself into a corner with his London speech on Thursday promising to do “whatever it takes” to rescue the euro.
UBS Nominates Board Members; Grabs Advisors From BofA, Morgan
The recruited reps come from Bank of America and Morgan Stanley with about $3 billion in assets and $18 million in production.
UBS Names Ermotti CEO
UBS made its temporary appointment of Sergio Ermotti as CEO permanent on Tuesday as it sought to reassure investors in the wake of a $2 billion trading scandal.
German Rift Threatens Euro Zone
Juergen Stark's sudden departure from his post at the European Central Bank (ECB) over the issue of buying bonds from troubled euro zone countries has led to wider problems, both in the zone and at home in Germany.
After Trichet, ECB Chief Is Likely to Be Italy’s Draghi
The announcement by Axel Weber in February that he was withdrawing his name from consideration as the next head of the European Central Bank opened the field to other candidates, but as time has passed Mario Draghi, head of Italy’s central bank, has emerged as the strongest of those.
Rescue Fund Divides Euro Zone
While Spain’s Prime Minister Jose Luis Rodriguez Zapatero talked up his country’s progress in getting its debt under control, he also expressed faith that the euro zone would agree to take steps to strengthen the European Financial Stability Facility, the euro zone’s rescue fund.
Merkel, Weber, Schaeuble to Meet for ECB Chief Job
Angela Merkel, chancellor of Germany, was due to meet on Friday with Axel Weber, head of the Bundesbank, and Wolfgang Schaueble, Germany’s finance minister, to discuss Weber’s withdrawal from the race for the top slot at the European Central Bank.