Zurich - The Swiss banking giant UBS said Wednesday it will take a first-quarter loss of almost 2 billion Swiss francs (1.7 billion dollars) and will cut 8,700 jobs worldwide by 2010.
"Unfortunately I am not able, as yet, to offer you any good news," Oswald Grubel, chief executive officer of the UBS Group, told shareholders at the annual meeting while pledging to return to profitability.
The crisis, he said, "was not over," and would likely lead UBS to being a smaller bank. Previously at the UBS rival Credit Suisse, Grubel took over his role in February.
Washington - The US Federal Reserve on Wednesday said a number of regions are reporting an easing of the country's economic downturn, adding to some of the small signs that the world's largest economy may be stabilizing.
On the sidelines of a press conference in Kolkata, the city-based Allahabad Bank’s Chairman and Managing Director, K R Kamath, said that the public sector lender has posted an 18 percent year-on-year growth in deposits and advances in 2008-09.
Zurich - The Swiss banking giant UBS said Wednesday it will take a first quarter loss of almost 2 billion Swiss francs (1.7 billion dollars) and will cut 8,700 jobs worldwide by 2010. "Unfortunately I am not able, as yet, to offer you any good news," Oswald Grubel, Chief Executive Officer of the UBS Group was expected to tell shareholders later at an annual meeting. He took over his role in February this year.
Nirmal Bang Research is bullish on State Bank of India (SBI) and maintained ‘Buy’ rating on the stock to achieve a target of Rs 1265.
On the eve of entering its 145th year of service, Kolkata-based Allahabad Bank, has made announcement about the retail selling of gold coins publicly. 
