AI
Wednesday, April 02, 2008 1:28:40 PM
Stocks Surge yesterday after USB & LEH
shore up their capital and put the credit crisis behind them.
Switzerland's largest bank, UBS AG, which had already written down $18 billion in troubled investments, said it expects to add a further $19 billion to that total. But UBS also said it would raise $15 billion in new capital from its shareholders. And, in another move that pleased some investors, UBS said it would replace its chairman.
http://online.wsj.com/article/SB120702674576879869.html?mod=todays_us_page_one
USB & MER jumped ahead
Lehman Brothers Holdings Inc (LEH) raised $4 billion of capital on Tuesday in a preferred stock deal designed to stop questions about the Wall Street investment bank's stability.
http://www.reuters.com/article/bankingFinancial/idUSN0121503020080402
shore up their capital and put the credit crisis behind them.
Switzerland's largest bank, UBS AG, which had already written down $18 billion in troubled investments, said it expects to add a further $19 billion to that total. But UBS also said it would raise $15 billion in new capital from its shareholders. And, in another move that pleased some investors, UBS said it would replace its chairman.
http://online.wsj.com/article/SB120702674576879869.html?mod=todays_us_page_one
USB & MER jumped ahead Lehman Brothers Holdings Inc (LEH) raised $4 billion of capital on Tuesday in a preferred stock deal designed to stop questions about the Wall Street investment bank's stability.
http://www.reuters.com/article/bankingFinancial/idUSN0121503020080402
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