UBS has moved closer toward ending state involvement in the bank after it raised $3.5 billion of new capital, but must still settle U.S. legal problems and stem client withdrawals to return to health.
Citigroup has been ordered by Japanese regulators to stop marketing financial products at its retail bank for a month, a slap that is unlikely to squeeze revenue but will further tarnish the U.S. bank's reputation in a key market.
U.S. stock index futures pointed to a weak open on Friday with investors set to take profits after a gain of more than 2 percent in the previous session.
(Corrects in 2nd paragraph to say 15 orders were canceled, not 30)
U.S. stock index futures pointed to a slightly lower open on Wall Street on Friday, with futures for the S&P 500 down 0.2 percent, Dow Jones futures down 0.2 percent and Nasdaq 100 futures down 0.1 percent at 5:37 a.m. EDT.
Swiss bank UBS unveiled plans to raise 3.8 billion Swiss francs ($3.5 billion) in a share sale and forecast a second-quarter loss, sending its stock lower on Friday as analysts said problems remained.
UBS , the world's largest wealth manager, said simple market opportunity was behind its decision to seek about 3.8 billion Swiss francs ($3.46 billion) of new capital in a share offer.
Dealmakers saw business pick up again in the second quarter as they helped companies raise cash in capital markets, but lucrative mergers and acquisitions (M&A) languished.
UBS, the world's largest wealth manager, said its decision to sell stock was to take advantage of a window of opportunity that should allow it to raise about 3.8 billion Swiss francs ($3.46 billion).
Stocks rallied on Thursday as investors were relieved Fed Chairman Ben Bernanke withstood a barrage of pointed questions from Congress on the Bank of America-Merrill Lynch deal relatively unscathed.
Auto parts supplier Lear Corp is preparing to file for bankruptcy as soon as next week, the Wall Street Journal reported on Thursday, citing people familiar with the matter.
Bank of America Corp was sued on Thursday in a federal lawsuit in New York, accusing the largest U.S. bank of discriminating against female brokers at the former Merrill Lynch & Co by offering them lower retention bonuses than their male counterparts.
Oil and gas producer PetroQuest Energy Inc's public offering of 10 million shares was priced at $3.50 a share, a discount of 5 percent to the stock's Wednesday closing price.
Stock index futures fell on Thursday after government data showed the number of workers filing new claims for jobless benefits unexpectedly rose last week.
Social networking Internet service LinkedIn said on Wednesday that interim President Jeff Weiner will take over as chief executive officer, six months after the company's co-founder stepped into the role.
Three of China's “big four” banks ranked in the top five in terms of profits among all banks around the world last year, the UK magazine The Banker released on Wednesday.
Exelon Inc, Wisconsin Energy Corp., Goldman Sachs and First Solar Inc were among the stocks with links to the clean energy industry which appealed to investors on Wednesday.
The Dow fell for the fourth day and other indexes ended well off the day's highs on Wednesday after the Federal Reserve reiterated concerns about the economic outlook at the end of its policy meeting.
Warren Buffett said on Wednesday that the U.S. economy has no bounce and will take time to recover, but there is no risk of deflation to push it further into despair.
The Dow fell for the fourth day and other indexes ended well off the day's highs on Wednesday after the Federal Reserve reiterated concerns about the economic outlook at the end of its policy meeting.
Citigroup Inc is raising salaries companywide to offset restrictions on bonuses after the troubled bank accepted $45 billion of federal bailout money, but the move could backfire if it drives top-performing workers to other employers.
U.S. securities regulators proposed tough new rules for money market funds to help avoid a repeat of what happened when the collapse of the Reserve Primary Fund triggered a wave of redemptions in the $3.67 trillion market.
