Wendy's shares up on hopes of near-term sale

(Reuters) - A Wendy's spokesman would not comment on the letter.




In a note to clients on Tuesday, UBS analyst David Palmer said Peltz's interest would renew investor hope of a near-term sale of Wendy's, which has been struggling to revitalize sales at its hamburger restaurants.


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Credit Suisse Fees Are Likely to Fall Most as LBO Market Slows, S&P Says

(Bloomberg) -- Investment banking fees are likely to
fall or stop growing as buyout firms purchase fewer companies,
and Credit Suisse Group would probably be the most affected
Standard & Poor's said in a report published today.

Group revenue at Switzerland's second-largest bank could
fall by 3.8 percent were leveraged buyout fees to fall by half,
S&P said. Earnings at Credit Suisse and UBS AG could plunge up to
19 percent as buyouts slow, Deutsche Bank AG analyst Matt Spick
said on July 26.


Read more at Bloomberg Currencies News

Credit Suisse Fees to Fall the Most as LBOs Slow, Standard & Poor's Says

(Bloomberg) -- Investment banking fees are likely to
fall or stop growing as buyout firms purchase fewer companies,
and Credit Suisse Group would probably be the most affected
Standard & Poor's said in a report published today.

Group revenue at Switzerland's second-largest bank could
fall by 3.8 percent were leveraged buyout fees to fall by half,
S&P said. Earnings at Credit Suisse and UBS AG could plunge up to
19 percent as buyouts slow, Deutsche Bank AG analyst Matt Spick
said on July 26.


Read more at Bloomberg Bonds News

Early CPDOs far riskier than ratings imply-UBS

(Reuters) - Last week Fitch Ratings and Dominion Bond Rating Service,
neither of which have rated CPDOs, said that the early deals
may be highly sensitive to small changes in the assumptions
underlying them. For details, see [ID:nL18292745]




"We think that early CPDOs, the ones that were introduced
last summer and fall, have a very fundamental problem with
them," said Anthony Morris, executive director in structured
products research at UBS on a conference call on Monday.


Read more at Reuters.com Bonds News

U.K. FTSE 100 Index Increases, Led by Friends Provident on Merger Talks

(Bloomberg) -- U.K. stocks rallied, led by Friends
Provident Plc after Resolution Plc said it is in ``advanced''
merger talks with the insurer. Prudential Plc and Legal & General
Group Plc rose after UBS AG recommended investors buy the shares.

Antofagasta Plc and Anglo American Plc paced gains in mining
companies. Barclays Plc rose after the bank increased its offer
for ABN Amro Holding NV.


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U.K. Stocks Rebound, Paced by Prudential, Resolution; Barclays Advances

(Bloomberg) -- U.K. stocks climbed, rebounding from
last week's decline, led by Friends Provident Plc after Resolution
Plc said its in ``advanced'' talks to merge with the insurer.

Prudential Plc and Legal & General Group Plc paced the gains
after UBS AG recommended investors buy the shares. Barclays Plc
rose after the bank increased its offer for ABN Amro Holding NV.


Read more at Bloomberg Stocks News

U.S. activist fund builds stake in UBS: paper

(Reuters) - Speculation of a possible break-up at UBS has escalated in recent months following a proposed three-way carve-up of ABN AMRO by a group led by Royal Bank of Scotland .




The Sunday Times report said Chicago-based Harris Associates had built a stake representing about 1 percent of UBS over the past three months.


Read more at Reuters.com Mergers News

Lead Falls From Record in London as Gains Judged Overdone; Tin Rises

(Bloomberg) -- Lead fell in London after investors
judged that gains that took the metal to a record for a sixth
consecutive session were overdone. Nickel rose and tin climbed
the most in more than two months.

The gains in lead had been ``way too over-extended'' and
the metal was poised to fall, Robin Bhar, an analyst with UBS AG
in London, said today in a report. ``Despite these supply
concerns there is no actual shortage of metal in the physical
markets.''


Read more at Bloomberg Commodities News

European Bank Stocks Advance, Led By ABN Amro; Saipem, Technip Decline

(Bloomberg) -- European bank stocks rose, led by ABN
Amro Holding NV after Royal Bank of Scotland Group Plc sweetened
its 71.1 billion-euro ($98.1 billion) offer for the Dutch lender.

ABN Amro jumped the most in three months. Oil-services
companies paced declines in energy shares after UBS AG cut its
recommendations on Saipem SpA and Technip SA following their
``strong performance.'' BT Group Plc, the U.K.'s largest phone
company, and drugmaker GlaxoSmithKline Plc climbed after
brokerages lifted their recommendations on the shares.


Read more at Bloomberg Stocks News

European Bank Stocks Advance, Paed by ABN Amro; Saipem, Technip Decline

(Bloomberg) -- European bank stocks rose, led by ABN
Amro Holding NV after Royal Bank of Scotland Group Plc sweetened
its 71.1 billion-euro ($98.1 billion) offer for the Dutch lender.

ABN Amro jumped the most in three months. Oil-services
companies paced declines in energy shares after UBS AG cut its
recommendations on Saipem SpA and Technip SA following their
``strong performance.'' BT Group Plc, the U.K.'s largest phone
company, and drugmaker GlaxoSmithKline Plc advanced after
brokerages lifted their recommendations on the shares.


Read more at Bloomberg Stocks News

Pound Rally Fools Biggest Traders as Rising Bond Yields Lure Kokusai, Axa

(Bloomberg) -- Investors who listened to the world's
three biggest currency traders and bet against the pound this
year couldn't have been more wrong.

Instead of falling, the U.K. currency has risen 3.8 percent
to a 26-year high of $2.0367. Strategists at Frankfurt-based
Deutsche Bank AG, UBS AG in Zurich and Citigroup Inc. of New York
predicted in December it would trade at $1.96 or lower this year.


Read more at Bloomberg Currencies News

Western Mining Raises $816 Million in Shanghai at Top of IPO Price Range

(Bloomberg) -- Western Mining Co., a Chinese
producer of zinc, copper and lead, raised 6.2 billion yuan
($816.4 million) from an initial public offering in Shanghai to
raise funds for expansion and pay debt.

The company, based in Xining, Qinghai, sold 460 million new
shares at 13.48 yuan each, it said in a statement today. That's
the top end of the 12 yuan to 13.48 yuan range given July 2. UBS
AG's joint venture in China, UBS Securities Co., arranged the
sale, the first in China for Europe's biggest bank by assets.


Read more at Bloomberg Emerging Markets News

Israeli Bonds Rise for Fifth Day on Confidence That Shekel Will Strengthen

(Bloomberg) -- Israel's benchmark Shahar bond rose
for a fifth day as investors expressed confidence that the shekel
will strengthen against the dollar.

The Israeli currency reached a nine-year high against the
dollar in mid-May and has since slid 8 percent. It will probably
maintain its strength now or rise as the dollar weakens further
in international markets, UBS AG said.


Read more at Bloomberg Bonds News

European Stocks Decline on Ifo Report; Julius Baer, Maersk Lead Drop

(Bloomberg) -- European stocks dropped for a second
day after German business confidence fell more than economists
forecast in June, adding to signs that growth in Europe's largest
economy is slowing.

Julius Baer Holding AG fell after UBS AG sold part of its
stake in the Swiss Bank. A.P. Moeller-Maersk declined after the
company named a new chief executive officer. Pearson Plc rose after
the U.K. publisher abandoned a possible bid for Dow Jones & Co.


Read more at Bloomberg Stocks News

UBS cuts earnings forecasts for S.Korean chip makers

(Reuters) - The investment bank said it would lower its 2007 net income
forecast for Samsung Electronics Co. Ltd. by 6.9
percent to 8.3 trillion won and its 2008
estimate by 4.6 percent to 10.4 trillion won.




UBS also cut its share target price on Samsung to 670,000
won from 690,000 won. Shares in the world's biggest maker of
memory chips were up 0.7 percent to 578,000 won by 0047 GMT,
following tame U.S. inflation data.


Read more at Reuters.com Hot Stocks News

Housewives Outmaneuver UBS, Deutsche Bank as Yen Trading Captivates Japan

(Bloomberg) -- Japanese businessmen, housewives and
pensioners betting against the yen in their spare time are
wrecking the forecasts of the world's biggest currency traders.

The yen has slumped 4.6 percent to a 4 1/2-year low against
the dollar this quarter, making it the worst performer among 72
major currencies and confounding predictions by strategists at
Deutsche Bank AG and UBS AG for gains of about 1 percent.


Read more at Bloomberg Currencies News