Fabrice Coffrini | Afp | Getty Images UBS Group Chairman Colm Kelleher on Wednesday said the Swiss bank is “not too big to fail,” as he criticized Swiss government proposals to strengthen its capital requirements. Kelleher was delivering a speech during the UBS annual general meeting — the first such gathering held since the bank … Read more
The mammoth integration of failed bank Credit Suisse into its former rival UBS will act as a “case study,” UBS CEO Sergio Ermotti said on Friday, one that will show that big bank mergers should be allowed. “It’s going to be a case study to be evaluated globally, but also particularly in Europe, where eventually … Read more
Apple offered investors more reasons to like its stock after the company reportedly canceled its decadelong electric, self-driving car project and CEO Tim Cook talked up the iPhone maker’s artificial intelligence vision. The tech giant announced the end to its autonomous EV pursuits internally Tuesday, Bloomberg News reported , citing people with knowledge of the … Read more
Arc of Triomphe Paris, Champs-Elysees France at night vichie81 / iStock / Getty Images Plus LONDON — Around a half of European companies missed earnings expectations in the latest reporting season despite already low expectations, analysts told CNBC, who predicted that the region will continue to struggle amid high interest rates. As of Feb. 29 … Read more
Fabrice Coffrini | Afp | Getty Images Swiss banking giant UBS on Tuesday narrowly beat fourth-quarter earnings expectations and announced that it would recommence share buybacks worth up to $1 billion in the second half of the year. The group posted a net loss attributable to shareholders of $279 million for the quarter, its second … Read more
People attend the 54th annual meeting of the World Economic Forum, in Davos, Switzerland, January 18, 2024. Denis Balibouse | Reuters The potential for generative artificial intelligence, when interest rates might be cut, and the ongoing wars in Ukraine and the Gaza Strip were key topics at the World Economic Forum in Davos, Switzerland this … Read more
