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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.
UBS’s quarterly earnings report, due Wednesday, is expected to draw significant media attention. Key questions remain: How is the integration progressing? What’s the status of job cuts and cost savings? And most importantly, can the bank offset declining interest margins with tailwinds in other revenue streams?
On Tuesday, HSBC continued the trend of strong FTSE 100 banking earnings by posting Q3 results that exceeded analyst expectations. After years of slow activity following the pandemic, investors will be delighted to see HSBC enjoy the impact of Chinese stimulus. Adjusted profit before tax came in at $8.7bn, significantly higher than the $7.7bn expected […]