U.S. stocks extend financial-led cheer; Dow up more than 2%

Date: Tue, 01 Apr 2008 16:01:03 (GMT)

U.S. stocks extend financial-led cheer; Dow up more than 2%

NEW YORK
U.S. stocks soared after a measure of manufacturing activity prove
brighter than expected, and separate offers of fresh equity from Swiss
bank UBS AG and Lehman Brothers Holdings Inc. draw a warm reception.

UBS takes further $19 bln in write-downs, plans capital boost

Swiss banking giant UBS reveals a further $19 billion hit from the
credit crisis, doubling its write-downs so far, and said it will have to
issue around 15 billion Swiss francs ($15.1 billion) in new shares to
shore up its capital base.

Microsoft stands firm on Yahoo bid, says report

WASHINGTON
Microsoft Corp. plans to stick with its current offer price to buy Yahoo
Inc., at least until the Internet-search firm agrees to buyout talks,
The Wall Street Journal reported Tuesday.

Another round of job losses to come at UBS

More investment-banking jobs will have to go at UBS in light of another
$19 billion in write-downs that the Swiss banking giant will take, the
company's chief executive said Tuesday.