UBS and Deutsche post strong earnings:
Shares of UBS and Deutsche Bank soared today after UBS announced a $1.9-billion (U.S.) quarterly profit and Deutsche posted a $1.5-billion quarterly profit. However, both banks were down from first quarter numbers.
George Soros wants a piece of Bombay exchange:
Billionaire investor George Soros is close to buying a 4-per-cent stake in the Bombay Stock Exchange. The renowned investor sees potential in India's fast-growing stock market. The position will reportedly cost $40-million.
ABCP on the comeback trail:
Two years after asset-backed commercial paper was demonized, Canadian investors have demonstrated demand for it once again. But this time around it's the "plain vanilla" product, not paper tied to sub-prime mortgages.