Royal Mail privatisation – Goldman Sachs and UBS to be grilled by MPs Investment banks to be asked in Commons why sale of asset favoured foreign investors and if float price was set too low.
MPs summon bankers to explain their valuations of Royal Mail MPs investigate whether the £3.3bn sale of shares in the Royal Mail shortchanged taxpayers.
UBS analyst’s forecast 12p price rise would open up part-taxpayer-owned bank to sell-off of state stake Shares in Lloyds Banking Group could get close to the level the taxpayer paid for its 39% stake in the bailed-out bank, the company’s house broker forecast on Monday – setting a price target for the shares of 72p. […]
Government announces selection of Goldman Sachs and UBS to advise on Royal Mail’s sale and collect majority of fees Goldman Sachs and UBS will lead a syndicate of banks collecting about £30m from the £3bn privatisation of Royal Mail. The government announced that it had selected Goldman Sachs, which has been accused of treating its […]
Eric Knight and his crew own less than 1% of UBS, but do they make a good point about the Swiss Bank Corporation merger? Knight Vinke, the activist investor, is not everybody’s cup of tea and the directors of UBS may believe that the grumbles of a shareholder that owns less than 1% of the […]
Group says Swiss bank should sell off its investment arm and sell it to staff Activist investor Knight Vinke has reopened the debate about investment banking by calling on the Swiss bank UBS to sell off its casino investment banking arm to its employees. On the day of the bank’s annual meeting, the fund management […]
After bank scandals, UBS, Libor rigging and money laundering, the FSA should itself be censured over its Pru regulation The Financial Services Authority deserves to be censured for making UK financial regulation look ridiculous. The £30m fine dished out to the Prudential is wildly over the top when you remember that UBS copped only a […]
Following Prudential’s £30m acquisition fine, we run down the FSA’s top 10 fiscal grabs Insurance group Prudential has been fined £30m for failing to tell the Financial Services Authority (FSA) about its attempted takeover of the Asian arm of US insurer AIG. The regulator has also censured the company’s chief executive, Tidjane Thiam. This is […]
Former UBS and Citigroup banker and two others questioned as part of Serious Fraud Office investigation into Libor manipulation A former UBS and Citigroup banker and two others had their homes raided early on Tuesday morning and were taken in for questioning as part of the Serious Fraud Office investigation into the manipulation of Libor […]
FSA fines Swiss bank for ‘serious weaknesses’ in systems and controls which allowed Kweku Adoboli to rack up £1.5bn losses UBS has been fined £30m by the City watchdog and could see its investment banking activities crimped by the Swiss regulator in the wake of the jailing of its former trader Kweku Adoboli. Adoboli, a […]