The latest news on Bank from the WSJ MoneyBeat Blog. Up-to-the-minute news and analysis on deals, markets and finance around the world. UBS to Pay $230 Million to Settle Interest-Rate-Rigging Case UBS has agreed to pay $230 million to settle a long-running civil lawsuit accusing the bank of rigging benchmark interest rates.
The insolvency of the Signa umbrella company marks the real start for the scramble for the remnants of the real estate and retail empire. For Swiss private bank Julius Baer, the episode with Austrian investor René Benko has become a recurring issue.
Bank of America (BofA) clients in Switzerland include various global multinationals, such as food company Nestlé and cigarette manufacturer Philip Morris International. But it doesn’t want to restrict itself to these. The bank has growth plans and believes conditions are right for economic activity to recover again.