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Financial Planning

Sub-prime kills UBS profits, jobs

BY MICHAEL HOBBS | TUESDAY, 2 OCT 2007 1:26PM

Investment giant UBS has announced it expects a third quarter loss of up to $760 million, job cuts of up to 1,500 for the year and up to $3.85 billion worth of write downs stemming from its sub-prime related holdings.

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Editor's Choice

Pengana takes WAM feud over PIA to Takeovers Panel

KARREN VERGARA

Pengana Capital Group is again attempting to thwart the Wilson Asset Management-led board's share buyback and increased ownership in the Pengana International Equities LIC (PIA), hoping the Takeovers Panel will intervene.

ASFA welcomes Rest executive to C-suite role

MATTHEW WAI

ASFA has named a new C-suite appointment, set to join on September 21 from Rest to strengthen its policy implementation initiative.

WT Financial takes majority stake in TNT Advisor

RIDDHIMA TALWANI

WT Financial has acquired a 70% stake in paraplanning provider, TNT Advisor Solutions (TNT), for $2.4 million.

State Super announces new board appointment

VINNY VUCAGO

State Super, the SAS Trustee Corporation, has named a new member of its board, saying the appointment will add to the trustee's governance structure.

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