UBS cannot comply with a U.S. request to disclose the identity of 52,000 U.S. secret account holders, the bank's chief executive Oswald Gruebel said in an internal memorandum, according to a source familiar with the situation. The UBS chief executive officer sent the confidential memorandum to the bank's top executives on Thursday, the source said,
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Uncertainty on earnings and economic recovery prospects kept Japanese shares hobbled near seven-week lows on Friday, while prices for commodities such as oil and copper looked to build a floor after recent declines. European shares were set for a slightly weaker start, with a downbeat earnings outlook from oil major Chevron Corp after the Wall
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Bank of Cyprus Public Company Ltd announced that as a result of the reinvestment of dividends paid on 10 June 2009, a total of 7.082.906 new ordinary shares of a nominal value of EUR1,00 each were issued. The shares were issued to the shareholders who participated in the Bank’s Dividend Reinvestment Plan at a discount
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The Cyprus Securities and Exchange Commission approved Hellenic Bank’s Public Offer made to acquire up to 100% of the share capital of ‘Athena Cyprus Pcl’ (ATH). The acceptance period commences on 16 July and closes on 8 September 2009. The consideration on offer is one (1) HB share for every three (3) ATH shares. HB and
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Cypriot Minister of Employment and Social Insurance Sotiroulla Charalambous has called for targeted action in response to the strains on the labour market, as a result of the economic downturn. Speaking during an informal meeting of EU Ministers of Employment and Social Affairs, in Jonkoping, Sweden, Charalambous said the biggest challenge is drafting and implementing
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Thirty four new cases of H1N1 flu have been confirmed in Cyprus during the past 24 hours, increasing the total number of confirmed cases to 201, the Health Ministry announced on Thursday. According to a press release, seventeen of the new cases concern Cypriots. Sixty-seven persons with flu symptoms were subjected to laboratory tests on
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U.S. stocks rose on Thursday after data showed a steep drop in the number of people filing new claims for jobless benefits and Alcoa Inc (AA.N) kicked off earnings season with better-than-expected numbers. * The Dow Jones industrial average (.DJI) rose 40.73 points, or 0.50 percent, to 8,219.14. The Standard & Poor's 500 Index (.SPX)
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A fresh wave of cyber attacks that slowed U.S. and South Korean websites this week hit more targets on Thursday, a Web security firm said, while the South's spy agency has said the hacking may be linked to North Korea. The impact of the attacks, aimed so far at dozens of sites including the White
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British lender Nationwide has brought back the 125 percent home loan, seen as a symbol of the reckless lending that contributed to the banking crisis, but said eligibility for the deal would be strictly limited. Mutually-owned Nationwide, the UK's third-biggest mortgage lender, said the loan is available only to existing customers with good credit history
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The number of U.S. workers filing new claims for jobless benefits fell sharply last week but the data was distorted by an unusual pattern of layoffs in the automotive industry, which amplified the decline. The Labor Department said on Thursday that initial claims for state unemployment insurance fell 52,000, the largest drop since December, to
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