Sergio Ermotti, installed as UBS AG’s interim Chief Executive Officer after Oswald Gruebel’s exit, inherits the twin tasks of boosting client confidence and shrinking the investment bank after a $2.3 billion trading loss.
Deutsche Bank AG Chief Executive Officer Josef Ackermann and HSBC Holdings Plc Chairman Stephen Green are among bankers with a new ally in their tug of war with politicians over stricter rules: Europe’s sovereign-debt crisis.
Seagate Technology, the world’s largest maker of hard disk drives, is based in Scotts Valley, California. Yet the documents it files with the Securities and Exchange Commission list its address on South Church Street in George Town, the capital of the Cayman Islands, David Evans of Bloomberg News reports.
Swiss stocks plunged, falling the most in four months, as North Korea fired artillery shells into South Korea and concern continued that Europe’s sovereign-debt crisis will spread to Portugal and Spain.