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Julius Baer to Buy Merrill Lynch Private Bank, Bank of America Receives 3.2% Stake
Monday, August 13, 2012 - 8:47am | 526Swiss private bank Julius Baer Group is set to acquire Merrill Lynch's International Wealth Management business for $860 million Swiss francs, or $882 million dollars, according to Reuters. Baer claims it will increase assets currently under management by 40 percent. Bank of America (NYSE: BAC),...
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UBS Profits Plunge, Hit by Facebook IPO Loss
Tuesday, July 31, 2012 - 11:15am | 437UBS (NYSE: UBS), Switzerland's largest bank by assets, announced Tuesday a 58 percent drop in net profit to 425 million francs. Losses stemming from the Facebook (NYSE: FB) initial public offering (IPO) were 349 million Swiss francs ($356 million). UBS indicated in a statement, "We will take...
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Drug Failures and Firings will Hurt Novartis, But Can a Dividend Heal All Ills?
Friday, January 13, 2012 - 9:06am | 436Novartis (NYSE: NVS) is looking to decrease its American workforce in a move that will find almost 2,000 looking for work. Citing the loss of its patent for blood pressure drug Diovan, the firm said it will lower its American work force by 1,630 positions immediately, with another 330 jobs to be...
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Credit Suisse's Decline Results in the Loss of 1,500 Jobs
Tuesday, November 1, 2011 - 8:59am | 533The line at the unemployment office is about to get a bit longer. Credit Suisse (NYSE: CS), one of the many multinational financial services companies, has apparently incurred a loss during the third quarter despite a 12% increase in net income. Consequently, the company is responding by cutting...
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Vivendi’s 2009 Earnings Exceed Expectations
Monday, March 1, 2010 - 3:58pm | 294Vivendi SA SP (ADR) (OTC: VIVDY) reported its 2009 adjusted net income of 2.59 billion euros compared to the consensus estimate of 2.46 billion euros complied by Bloomberg. The company’s 2009 adjusted profit, however, registered a decline compared to the 2.75 billion euros reported in 2008. The...