Just because UBS is trying to get away from the whole ‘tax evasion’ specialists branding doesn’t mean this betrayal hurts any less.

A Credit Suisse client pleaded guilty to evading U.S. taxes on Tuesday, marking the first time the government publicly mentioned the bank in its latest wave of tax evasion probes. Defendant Edward Gurary was originally charged with hiding assets at accounts at Swiss bank UBS AG, but he now also admits he hid assets at Credit Suisse. U.S. officials are investigating other banks after UBS in 2009 paid $780 million to settle tax evasion charges.

Credit Suisse Client Pleads Guilty To Tax Evasion [Reuters]

Article courtesy of Dealbreaker

No word if they’re using Metro North to move all their stuff, but it’s certainly possible.

“Equity sales and trading has been notified they’re moving out of Stamford, down to NYC. When they announced that they said the rest of the trading floor is staying in CT.”

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If you’ve been in the market 36,000 square feet of space- to use in its current form as a trading floor, to create the world’s biggest CandyLand board, or to play a game of Twister with 10,000 people–, you may be in luck in the not completely distant future.

“From a senior UBS’er– they are thinking of moving the whole shebang back to NY. They apparently don’t own the Stamford building anymore, they have space in NYC, higher-ups feel they might be missing business (or who knows, maybe the highest-ups live in NYC and this is an excuse to stop the reverse-commute!) and are having trouble recruiting talent because of the commute (rather than, say, their overall situation).”

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UBS Securities analyst Uche Orji today reiterates a Buy rating on Intel (INTC) shares in the wake of the company’s announcement this morning it is adding $10 billion to its share buyback authorization, bringing the total repurchase authorization to $14 billion.
Orji estimates that combining Intel’s big bump-up in capital expenditures [...]

Article courtesy of BARRONS.com: Tech Trader Daily

Lend not unto him that is mightier than thyself; for if thou lendest him, count it but lost.

UBS AG cites this passage from Ecclesiasticus 8:12 in a fascinating look at sovereign debt defaults, bank crises and bond restructurings dating back to ancient Greece. The point of the report, done by emerging markets analyst Costa Vayenas at UBS in Zurich, is to discuss the lessons from defaults of the past, and what investors might learn…UBS cites a well-documented case from 377 BC to 373 BC to illustrate how the ancient Greeks learned that sovereign defaults occur in clusters. In that case, 11 of 13 states defaulted on loans from the Temple of Delos, not exactly the equivalent of the Fed but the lender of last resort nonetheless. Some 90 per cent of the money had to be written off, UBS notes. [Globe And Mail]

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UBS Securities analyst Maynard Um today reiterates a view that RIM’s R&D expenses will have to increase in coming months, putting pressure on the company’s operating margin.
Referring to the recent fiscal Q3 report, which was better than expected, Um writes that, “Though RIM may find efficiencies in R&D spend & [...]

Article courtesy of BARRONS.com: Tech Trader Daily

Apparently it was “very constructive,” “very thoughtful,” and Wolf came away feeling this administration has “lots of business acumen.”

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Shares of semiconductor maker LSI (LSI) are up 4 cents, or 0.7%, at $5.97, after UBS Securities analyst Parag Agarwal raised his price target on the stock to $6 from $5, while maintaining an Neutral rating, writing that the “near-term trends” for LSI are improving thanks to stable IT spending [...]

Article courtesy of BARRONS.com: Tech Trader Daily

UBS has issued a 44-page dress code to employees. Unfortunately, our French is a bit rusty so beyond telling female employees to wear pearl necklaces and scarves and men to wear shirts, it’s unclear what exactly they’re saying or if removing one’s cock ring before work is a Do or a Don’t. One thing that that is helpful, if you’ve somehow managed to obtain and hold a job on Wall Street without learning to tie a tie? This handy how-to guide:

Article courtesy of Dealbreaker

In case you were not at the UBS Securities media conference this morning, he management of The New York Times (NYT) appeared today, and had some interesting things to say about their future in digital media, Apple’s (AAPL) iPad, and the rest.
Note: The company also issued a press release saying [...]

Article courtesy of BARRONS.com: Tech Trader Daily