Reuters Money: UBS defeats shareholders' U.S. appeal over mortgage losses, tax probe

	Click to View in Browser 05/7/2014 UBS defeats shareholders' U.S. appeal over mortgage losses, tax probe NEW YORK (Reuters) - A federal appeals court in New York rejected appeals by UBS AG shareholders seeking to hold the Swiss bank liable for their losses for having concealed its exposure to risky mortgage-backed securities and helping clients evade U.S. taxes. Swiss watchdog sets tough capital requirements for top banks ZURICH/LONDON (Reuters) - Switzerland's financial regulator has laid out rules that could force the country's two biggest banks to hold more than double the total capital required by international standards, in its latest effort to ensure the two are protected from future financial shocks. Older investors sue UBS over risky Puerto Rico bond funds: filing NEW YORK (Reuters) - UBS AG has been sued by older investors who claimed it steered them into mutual funds that invested heavily in Puerto Rico bonds, costing much of their life savings and causing billions of dollars of losses because of the commonwealth's fiscal woes. Insurer Allianz defends Pimco after investors take flight MUNICH (Reuters) - Europe's biggest insurer Allianz defended its U.S. asset management business Pimco on Wednesday as it came under fire for failing to stem the flow of heavy investor withdrawals. Goldman Sachs extends loan to Steven A. Cohen NEW YORK (Reuters) - Goldman Sachs Group Inc is still doing business with Steven A. Cohen and extended a loan to the billionaire after his firm, SAC Capital Advisors, pleaded guilty to insider trading. The vanishing defined-benefit pension and its discontents CHICAGO (Reuters) - If only we could revive the good old pension. You retire after 30 or 40 years at a company, get the gold watch, and the monthly checks start flowing. Junk bond fund yields trounce peers as managers buy stocks to boost returns BOSTON (Reuters) - If you're looking for top performing U.S. junk bond funds, pick one that's maxed out in stocks. Wells Fargo releases two new credit cards aimed at high spenders (Reuters) - Wells Fargo & Co, trying to increase its credit card market position, said it is issuing two new credit cards through a partnership with American Express Co in its latest effort to woo more wealthy customers. UBS overhauls structure, offers investors extra cash ZURICH (Reuters) - UBS will revamp its corporate structure to ensure it can be broken up more easily in a crisis, cutting the amount of money it must set aside for potential losses and allowing it to pay shareholders a special dividend. Buffett's insiders' Woodstock: James Saft (Reuters) - Warren Buffett and Charlie Munger might be the greatest investing team of all time but they are dead wrong about the merits of activist investing. Related Video Alibaba prepares IPO, Disney beats; Twitter whacked Apple cracks $600; Stocks rise but Ukraine a risk Business News Wall Street rises at open, Yellen testimony eyed Bad weather sinks U.S. first-quarter productivity The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today   A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today   » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2010 Thomson Reuters Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book. Details Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook Forward to a friend