Page 2 - Ubs

UBS CEO warns about risk of delays to tech integration with Credit Suisse

UBS is integrating 300 of 3,000 Credit Suisse applications and the bank is trying to reduce the risks for clients as it combines platforms, he said

UBS gets backing for capital plan, Ermotti pay from Norway wealth fund

The move could come at a cost for shareholders, who could see their holdings diluted in a crisis

UBS faces tougher rules in Swiss govt's response to Credit Suisse rescue

Switzerland's plan will come under close scrutiny at home and abroad because if UBS were to unravel, there are no local rivals left that could absorb it

UBS starts job cuts at HK, Singapore wealth units after profit slump

Wealth generation in China has stalled as the nation's economy struggles to regain momentum amid a property crisis and a selloff in equities

Equity investors make best returns amid falling interest rates: UBS

Based on free-float market capitalisation in the FTSE All-World index, which spans the investable universe for a global investor, the US market accounts for a staggering 60.5 per cent of total value

UBS upgrades TCS to 'Buy', sees 15% upside in stock; here's why

We see enough drivers to believe TCS can deliver industry-leading growth and margins among peers in FY25, the brokerage said

UBS, Credit Suisse lost ground in combined Swiss fund business over 2023

The market share of the combined bank, which became a single entity last year after UBS stepped in to rescue Credit Suisse, fell to 37.6% in 2023, down from 39.3% the previous year

Ahead of Q3FY24 results, UBS gives 'buy' call on Paytm, sees 20% upside

Shares of Paytm surged 4.8 per cent to Rs 750 per share on the BSE in Tuesday's intraday trade

UBS steps up bid to claw back cash bonuses from Credit Suisse defectors

UBS has contacted hundreds of bankers and offered some multi-year payment plans amid efforts to claw back a chunk of the 1.2 billion Swiss francs ($1.38 billion) in restricted cash bonuses

HSBC hires UBS's Gautam Anand for role serving India's rich diaspora

Gautam Anand was appointed Global Coordinator for Global India, the Middle East, North Africa and Europe from Dec. 1, according to an internal memo seen by Bloomberg News

UBS strategists see far deeper Fed rate cuts than what markets are pricing

The strategists expect the benchmark federal funds rate to fall to between 2.5% and 2.75% by the end of 2024, and see the terminal rate at 1.25% by early 2025

Markets may ignore West Asia events till there's no invasion: Chris Wood

Over the past few weeks, equity markets have reacted sharply to the developments in West Asia with most frontline indices across the globe slipping 1 per cent to 7 per cent.

Risk of Indian banks' unsecured retail loans turning sour is rising: UBS

UBS has turned "neutral" on the banking sector and sees a higher probability of regulatory tightening on unsecured loans

UBS names South Korea, India, others as 'slow' on Credit Suisse approval

The uncertainties could lead to winding down businesses and asset sales, when UBS faces "difficult jurisdictions or regulators", the Swiss bank said in the document

UBS poised to keep Credit Suisse's domestic bank business, drop brand

The Zurich-based lender has set a target of winding down the Credit Suisse brand in the country, people familiar with the matter said

UBS ends Swiss govt's rescue packages that aided Credit Suisse takeover

UBS said Friday it has shut down rescue packages agreed with Swiss authorities that made available up to 200 billion Swiss francs (about USD 230 billion) to help shepherd through its takeover of ailing rival Credit Suisse and avert an international banking crisis. The Zurich-based banking giant, which completed the takeover on June 12, said it had moved to voluntarily terminate" rescue programmes that aimed to help mop up billions of losses and provide liquidity to the banks as they moved forward on the complex deal. UBS said it had repaid 50 billion francs in loans from the Swiss National Bank and 100 billion francs in liquidity support from the Swiss government, while ending a 9 billion franc loss protection agreement with the government. In total, UBS also paid some 730 million francs in commitment fees and risk premiums to Swiss authorities, comprised of 200 million to the government and 530 million to the national bank. Swiss authorities and UBS announced the hastily arranged

UBS 'double upgrades' Gail India to buy; sees 25% upside in the stock

At the bourses, the stock surged over 3 per cent in intra-day deals to Rs 122.7 on the BSE on Monday. In comparison, the S&P BSE Sensex traded flat at around 66,245 levels

ACC, Ambuja, Dalmia Cement: Analysts remain selective on cement stocks

UBS and Nomura expect volume growth of 10 per cent and 8 per cent, respectively, in FY24 aided by an uptick in the real estate cycle.

Four major western banks cut China's 2023 GDP forecast as recovery falters

UBS, Standard Chartered, Bank of America (BoA) and JPMorgan now expect China's GDP growth to be between 5.2% and 5.7% this year, down from an earlier range of 5.7% to 6.3%

UBS to take in Credit Suisse CEO as banks' merger closes within 2 weeks

UBS said Tuesday it's bringing the CEO of Credit Suisse on to its executive board and will keep the two banks operating separately for the foreseeable future as it moves forward with a high-profile merger expected to close within two weeks. The two Zurich-based banks, longtime rivals, are uniting in a $3.25 billion deal hastily arranged in March by Swiss government officials and regulators after Credit Suisse's stock plunged and jittery depositors quickly pulled out their money. The merger aimed to stem upheaval in the global financial system after the collapse of two U.S. banks that has shaken confidence in the sector. This is a pivotal moment for UBS, Credit Suisse and the entire banking industry," said UBS CEO Sergio Ermotti, who was brought back to the bank to help see the deal through. Together we will solidify and represent the Swiss model for finance around the world, one that is capital-light, less reliant on taking risk and anchored by stability and high-touch service, he .