Standard & Poor's

UBS was ordered to either pledge assets or post a $35 million bond after a Connecticut court found "probable cause" that the bank committed securities fraud in a deal with Pursuit Partners according to the reports of the hedge fund's lawyers.

According to Standard & Poor`s, the U.S. credit quality index grew to 10 % from 9.4 % in April. In comparison with a year ago the index increased 66.8 %. Meanwhile, monthly payments more than 30 days late -- dropped to 5.7 % from 6.1 %, as the S&P index showed.

Besides, among private-label cards, defaults jumped to 12.2 % in May from 11.7 % in April, while delinquencies declined to 6.9 % from 7.1 %.

As The Wall Street Journal reported on Sunday, American International Group Inc. will receive additional up to $30 billion federal assistance as a part of a government bailout. It’s an intention to help the baited insurance company wrestle with $60 billion in quarterly losses and other problems.