UBS sues Bank of America for $200m over crisis-era mortgage costs NEW YORK: UBS sued Bank of America for $200 million on Wednesday, saying the second-largest US bank refused to cover... Published 01 Aug, 2024 06:06am
Markets Oil prices down NEW YORK: Oil prices fell by more than $1 a barrel on Monday after Israeli officials said they wanted to avoid... Published 30 Jul, 2024 03:10am
Markets Gold prices firm BENGALURU: Gold prices edged up on Monday as the dollar weakened in response to President Joe Biden’s decision to... Published 23 Jul, 2024 08:29am
Business & Finance Swiss authorities draw flak in Credit Suisse probe: report ZURICH: Preliminary findings in an eagerly awaited parliamentary report into the 2023 collapse of Credit Suisse have... Published 15 Jul, 2024 06:25am
Markets Tech shares drive China stocks higher SHANGHAI: China stocks closed higher on Tuesday, led by tech shares, as investors await the highly anticipated... Published 10 Jul, 2024 03:14am
Business & Finance Challenges await as UBS makes Credit Suisse merger official ZURICH: Banking giant UBS on Monday officially merged its Swiss branches with those of Credit Suisse, but huge... Published 08 Jul, 2024 08:25am
Markets Oil falls after jump in US inventories NEW YORK: Oil prices fell slightly on Wednesday after US crude stocks posted their third unexpected weekly rise in... Published 27 Jun, 2024 06:52am
Business & Finance UBS sets aside $900mn for investors hit by Credit Suisse scandal ZURICH: Swiss banking giant UBS said Monday it would set aside $900 million to help compensate investors who took a... Published 17 Jun, 2024 05:16pm
Business & Finance UBS and Credit Suisse’s Swiss units could merge by July 1, executive says ZURICH: The merger of the Swiss units of UBS and Credit Suisse could be completed as early as July 1, a senior... Published 11 Jun, 2024 12:30pm
Markets Oil steadies as OPEC+ restraint balances interest rate concerns LONDON: Global oil prices steadied on Tuesday as the prospect of OPEC+ maintaining oil supply curbs at its June 2... Updated 28 May, 2024 04:38pm
Markets European stocks end lower as rate worries resurface PARIS: European stocks ended lower on Friday and down for the week, as signs of persistent US price pressures and a... Published 25 May, 2024 06:33am
Business & Finance UBS back in profit after Credit Suisse takeover losses ZURICH: Swiss banking giant UBS on Tuesday said first quarter net profit rose 71 percent to nearly $1.8 billion, far... Published 07 May, 2024 12:43pm
Markets China stocks rise as sentiment improves SHANGHAI: Mainland China stocks ended higher on Thursday and Hong Kong closed at a five-month high, as sentiment... Published 26 Apr, 2024 04:15am
Markets China stocks higher as investors gauge US rate outlook SHANGHAI: China stocks closed up on Wednesday and tracked global peers higher as market sentiment was buoyed by... Published 25 Apr, 2024 03:05am
Markets STOXX 600 falls on banks drag; tech contains losses on ASMI boost PARIS: Europe’s benchmark stock index dropped on Wednesday as financials sagged on disappointing earnings from... Published 25 Apr, 2024 03:05am
Markets US crude futures climb back into positive territory HOUSTON: US crude futures returned to positive territory on Monday after falling on easing fears of a wider Mideast... Published 23 Apr, 2024 03:41am
Business & Finance Five waves of UBS layoffs to start in June VIENNA: Layoffs under Swiss banking giant UBS’s cost-cutting programme announced after its takeover of Credit Suisse... Updated 22 Apr, 2024 09:25am
Business & Finance UBS reports 14.4 million Swiss francs for CEO Ermotti in 2023 ZURICH: UBS on Thursday said its CEO Sergio Ermotti picked up 14.4 million Swiss francs in 2023 after taking over... Published 28 Mar, 2024 01:40pm
Business & Finance UBS sells $8bn of Credit Suisse assets to Apollo ZURICH: UBS has sealed the sale of Credit Suisse’s securitised products business to Apollo Global Management as part... Published 28 Mar, 2024 07:20am
Business & Finance UBS sells $8 billion of Credit Suisse assets to Apollo ZURICH: UBS has sealed the sale of the securitised products business of Credit Suisse to Apollo Global Management,... Published 27 Mar, 2024 01:29pm
Business & Finance UBS to boost Asia-sourced assets to 20% in five to six years, CEO says HONG KONG: UBS plans to tap growth in Asia and increase assets sourced from clients in the region to 20% in five-six... Published 26 Mar, 2024 02:18pm
Life & Style Big hotel chains and unbranded-hotel owners find they need each other NEW YORK: Independent hotel operators and giant global chains are increasingly linking up in franchise agreements as... Published 25 Mar, 2024 03:49pm
Markets China stocks fall as Country Garden drags property developers lower SHANGHAI: China stocks closed down on Wednesday, dragged by property developers as Country Garden missed a coupon... Published 14 Mar, 2024 03:00am
Business & Finance UBS posts $279-mn Q4 net loss after Credit Suisse takeover ZURICH: Swiss banking giant UBS on Tuesday posted a smaller-than-expected net quarterly loss of $279 million, amid... Published 06 Feb, 2024 12:04pm
Business & Finance UniCredit vows to match 2023 income after beating forecast MILAN: UniCredit pledged to match its 2023 income this year despite a toughening backdrop and said it would pay out... Published 05 Feb, 2024 01:37pm
Business & Finance UBS unveils big branding push after Credit Suisse takeover ZURICH: UBS on Tuesday unveiled its biggest branding campaign since 2016 to drive growth, spending tens of millions... Published 23 Jan, 2024 02:33pm
Markets China stocks rebound from 5-year lows SHANGHAI: China stocks closed up after touching their lowest in nearly five years, as some exchange-traded funds(E... Published 19 Jan, 2024 05:37am
Markets Oil prices rise on global demand forecasts NEW YORK: Oil prices rose on Thursday as the International Energy Agency (IEA) joined producer group OPEC in... Published 19 Jan, 2024 05:37am
Business & Finance UBS nominates Australian banking executive to board ZURICH: UBS has nominated Australian financial executive Gail Kelly to its board, the Swiss bank said on Friday,... Published 12 Jan, 2024 12:07pm
Markets Gold headed for best year since 2020 BENGALURU: Gold edged up on Friday as it looked set to mark its best year in three, supported by expectations that... Published 31 Dec, 2023 03:04am
Capacity-based model transition to take-and-pay model: 24 conditions proposed to strike new deals between govt, IPPs