Sergio Ermotti, CEO of Swiss banking giant UBS, during the group’s annual shareholders meeting in Zurich on May 2, 2013. Fabrice Coffrini | Afp | Getty Images Switzerland’s tough new banking regulations create a “lose-lose situation” for UBS and may limit its potential to challenge Wall Street giants, according to Beat Wittmann, partner at Zurich-based … 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 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 the … Read more
Newly appointed UBS CEO Sergio Ermotti (R) speaks with UBS Chairman Colm Kelleher during a press conference in Zurich on March 29, 2023. Arnd Wiegmann | Afp | Getty Images UBS CEO Sergio Ermotti earned 14.4 million Swiss francs ($15.9 million) in 2023 after his surprise return at the helm of the Swiss banking giant, … Read more
Traders work on the floor during morning trading at the New York Stock Exchange on March 6, 2024. Spencer Platt | Getty Images Despite the heavy concentration of the U.S. market rally in expensive, AI-focused tech stocks, analysts say Wall Street is not yet in bubble territory. The S&P 500 has climbed for 16 of … 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
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
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
Gold and silver bars of various sizes lie in a safe on a table at the precious metals dealer Pro Aurum in Munich. Sven Hoppe | Picture Alliance | Getty Images Gold and silver are expected to climb further in 2024 on expectations that the U.S. Federal Reserve will start cutting interest rates, UBS forecasts. … Read more
Sergio Ermotti, chief executive officer of UBS Group Stefan Wermuth | Bloomberg | Getty Images UBS CEO Sergio Ermotti on Wednesday said people with concerns about the size of the bank’s balance sheet are getting “indoctrinated” by academics and should “do their homework.” UBS completed its takeover of Credit Suisse in June 2023 after an … Read more
UBS expects to complete its takeover of Credit Suisse “as early as June 12”, which will create a giant Swiss bank with a balance sheet of $1.6 trillion. Fabrice Coffrini | Afp | Getty Images Company: UBS Group AG (UBS) Business: UBS Group AG is a Switzerland-based holding company. It conducts its operations through UBS … Read more
