DUESSELDORF, Germany, April 2, 2008 (AFP) - The German regional public bank WestLB posted on Wednesday a 2007 net loss of 1.6 billion euros (2.5 billion dollars) as a result of global financial turmoil and stock trading losses.

A month ago WestLB had said it expected a net loss of about one billion euros, following a gain of 799 million in 2006.

GENEVA, April 2, 2008 (AFP) - Swiss Finance Minister Hans-Rudolf Merz played down on Wednesday any suggestion that the biggest Swiss bank UBS could be taken over following its publication of huge subprime writedowns.

He also ruled out any question of state aid for the bank which, he said, was not at risk of bankruptcy.

BRUSSELS, April 2, 2008 (AFP) - The European Commission said Wednesday it had launched an in-depth state-aid investigation into British authorities' bailout of the recently nationalised British bank Northern Rock.

WASHINGTON, April 1, 2008 (AFP) - A majority of Americans believe the US government should not assist large investment banks and securities firms who have sustained hefty losses from troubled mortgage investments, a poll showed Tuesday.

FRANKFURT, April 1, 2008 (AFP) - German bank director Heinz Hilgert has been elected board chairman of the troubled regional bank WestLB as it tries to overcome subprime problems with billions of euros in state backing, the bank said Tuesday.

Hilgert, 54, formerly ran the Frankfurt-based cooperative DZ Bank and will take over from Alexander Stuhlmann on May 1, a statement said.

NEW YORK, April 1, 2008 (AFP) - Lehman Brothers, the Wall Street investment bank rumored to be in financial straits, on Tuesday said it had raised four billion dollars from a special share offering.

Lehman said in a statement that it had priced a four-billion-dollar offering of four million preferred shares.

GENEVA, April 1, 2008 (AFP) - Switzerland's banking watchdog said Tuesday it should have probed UBS further after the bank gave assurances last March its subprime exposure was under control.

GENEVA, April 1, 2008 (AFP) - Huge writedowns at two top Swiss banks have tarnished the brand of Swiss banking but the strong reputation of Switzerland as a financial centre still stands, analysts insisted on Tuesday.

FRANKFURT, April 1, 2008 (AFP) - Deutsche Bank unveiled huge asset writedowns linked to the international banking crisis on Tuesday, but the amount still managed to pale in comparison to those announced by Swiss bank UBS.

GENEVA, April 1, 2008 (AFP) - Swiss banking giant UBS picked lawyer Peter Kurer as its new chairman on Tuesday, raising eyebrows among investors who questioned his financial experience to steer the bank out of subprime writedowns.