Politicians and banking regulators across Latin American and the Caribbean called for calm Wednesday after panicked investors pulled their money from banks owned by the Stanford Group, whose owner is accused in a multibillion dollar investment and sales fraud scheme.
Tag Archives: bank
UBS posts record loss, cuts 1,600 jobs
Switzerland’s biggest bank UBS on Tuesday posted a worse than expected loss of nearly $17 million — the largest ever by a Swiss group — and announced 1,600 new job cuts.