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UBS CEO On Brexit – “More And More Unlikely” It Will Move 1,000 Jobs Out Of London

UBS CEO On Brexit – “More And More Unlikely” It Will Move 1,000 Jobs Out Of London
With Brexit negotiations still at a delicate stage, here’s the first bit of good news for the City of London in some time... As The Telegraph reports, the boss of Swiss bank UBS has said plans to move 1,000 jobs from London as a result of Brexit are now looking "more and more unlikely".  Chief Executive Sergio Ermotti said the banking giant's fear of... Read More

Credit Suisse Settles With DOJ For $5.3 Billion; Will Pay $2.5 Billion Civil Penalty

Credit Suisse Settles With DOJ For $5.3 Billion; Will Pay $2.5 Billion Civil Penalty
Shortly after last night's news that Deutsche Bank had settled with the DOJ for $7.2 billion, of which it would pay $3.1 billion in a civil penalty, far lower than the $14 billion number initially speculated (the stock popped as much as 4% before settling just over 2% higher currently), Credit Suisse likewise closed the books on its pre-crisis RMBS... Read More

“The Odds Of A ‘Spark’ Setting Off A Global Economic Conflagration Are Very High”

“The Odds Of A ‘Spark’ Setting Off A Global Economic Conflagration Are Very High”
Submitted by via InternationalMan.com, In 1871, a large portion of the city of Chicago burned to the ground. The Chicago Tribune attributed the fire to a cow owned by a Mrs. O’Leary. The Tribune stated that the cow kicked over a lantern as she was being milked, burning the barn and much of Chicago. Whether the story is accurate is... Read More