UBS Faces Fines and 2 Hot Stocks Making Market Waves
UBS (NYSE:UBS) may have to pay fines of over $1 billion to US and UK regulators for its participation in the LIBOR rigging scandal. The amount could be the largest levied in the matter and is double that imposed on Barclays plc (NYSE:BCS). On December 11, UK prosecutors arrested Thomas Hayes, a former trader at UBS, and two other men for questioning.
Warner Brothers (NYSE:TWX) new release, “The Hobbit: An Unexpected Journey,” is likely to rake in over $100 million this weekend, helping nudge 2012 domestic box office collections towards a record $10.8 billion gross. The film is being offered in a new premium 3-D 48 FPS format that is receiving critical acclaim.
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According to the New York Times, Yahoo (NASDAQ:YHOO) may soon revamp its board, adding Max Levchin, previously a senior executive at PayPal (NASDAQ:EBAY), while two directors who are expected to depart are Brad Smith, CEO at Intuit and David W Kenny, chief executive of the Weather Channel. Levchin is the fourth director to be nominated to Yahoo’s board by activist hedge fund manager Daniel S Loeb. The changes in the board emphasise Yahoo’s drive to re-attain its position as a top technology company.
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