The alleged rogue trades have killed any remaining ambitions UBS might have to compete with the titans of Wall Street.

The new interim boss of UBS has been charged with reorganising its investment bank, a task which will take two to three years to complete.

UBS's chief executive Oswald Gruebel resigned on Saturday, taking the blame after its banking business lost $2.3-billion in alleged rogue trading.

Swiss banking giant UBS's boss does not feel guilty about the $2-billion rogue trading that occurred in his bank and isn't resigning.

Pressure is mounting on bosses of Swiss bank giant UBS to quit for failing to prevent a $2-billion trading loss.

Ethical consumerism is on the rise. Do ethical companies really trump the rest? Research suggests they do, and investors want to follow the money.

Switzerland was feeling the heat on banking secrecy on Friday after the US stepped up its high-stakes tax probe against the biggest Swiss bank, UBS.

Record high oil prices at $135 a barrel deepened worries about inflation on Thursday and weighed on some Asian stocks although Japanese shares ended slightly higher, as dealers trimmed their bets on further weakness. The dollar trudged higher against the euro after earlier hitting a one-month low after the Federal Reserve slashed its United States 2008 growth forecast

UBS will cut 5 500 jobs in one the biggest purges seen so far in the financial markets crisis, as the Swiss wealth-management titan slashes at the investment bank that plunged it into turmoil. UBS also said it has a preliminary deal with United States asset manager BlackRock to sell a $15-billion portfolio of subprime mortgages.

Increasing confidence that the worst of the credit crisis is over boosted world stocks on Monday while inflation concerns grew with oil prices heading towards $120 a barrel. Investors have stopped taking it for granted the United States Federal Reserve will cut interest rates later in the week, although most still expect such a move.