Page 3 - Ubs
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 .
 "UBS to take in Credit Suisse CEO as banks' merger closes within 2 weeks")
Credit Suisse AT1 bondholders who lost $1.7 bn in UBS deal file lawsuits
Law firm Pallas Partners, which filed the suit in a Swiss court on April 18, said the Finma agency had no right to order the writedown and is seeking full compensation for its clients
 "Credit Suisse AT1 bondholders who lost $1.7 bn in UBS deal file lawsuits")
Swiss parliament rebukes Credit Suisse rescue by rival bank UBS
While the upper house had approved the government's contribution to the rescue package, parliament's lower, and larger chamber, pushed back again on Wednesday
 "Swiss parliament rebukes Credit Suisse rescue by rival bank UBS")
UBS Group weighs retaining Credit Suisse's private banking unit in India
Credit Suisse has just over 40 wealth management employees in India, and around 7,000 people overall in the country, according to a spokesperson for the bank
 "UBS Group weighs retaining Credit Suisse's private banking unit in India")
Swiss are on the hook for $13,500 each on Credit Suisse bailout
Govt to make as much as 109 billion Swiss francs available - a burden on the nation of 8.7 million
 "Swiss are on the hook for $13,500 each on Credit Suisse bailout")
UBS on track for biggest gain since Mar 2020 post Credit Suisse takeover
UBS Group AG jumped as much as 10%, on track for its biggest gain since March 2020, as investor optimism about the takeover of its largest rival gathered pace
 "UBS on track for biggest gain since Mar 2020 post Credit Suisse takeover")
Top headlines: UBS needs RBI nod for C-Suisse, windfall tax on oil slashed
Business Standard brings you top headlines at this hour
 "Top headlines: UBS needs RBI nod for C-Suisse, windfall tax on oil slashed")
US banking turmoil: Wipeout of risky bonds upends $275-billion market
UBS Group AG told Credit Suisse wealth bankers it's weighing financial sweeteners for them to stay as it seeks to reassure key staff following the takeover
Banking turmoil: Credit Suisse, UBS stocks see wild swings after deal
Credit Suisse nosedives 64%; UBS falls 15% in early trade but recovers later
UBS needs RBI approval to operate Credit Suisse as a bank in India
This is because UBS had surrendered its bank licence about a decade back after the banking regulator denied its request to offer wealth management services
 "UBS needs RBI approval to operate Credit Suisse as a bank in India")
Avoiding contagion
Credit Suisse collapse shows need to focus on stability
 "Avoiding contagion")
Here's how scandal and mistrust ended Credit Suisse's 166-year history
After tense talks over the weekend, UBS Group AG agreed to buy Credit Suisse in an all-share deal for about $3.25 billion, less than the market value of troubled US lender First Republic Bank
 "Here's how scandal and mistrust ended Credit Suisse's 166-year history")
The one big winner and many losers of UBS's Credit Suisse rescue deal
After a weekend of frantic talks to forge a solution before markets opened in Asia, the firm struck a deal to buy its smaller rival for about $3.3 billion in an share deal
Credit Suisse meets to weigh options, under pressure to merge with UBS
Credit Suisse Chief Financial Officer Dixit Joshi and his teams will hold meetings over the weekend to assess strategic scenarios for the bank
 "Credit Suisse meets to weigh options, under pressure to merge with UBS")
Top headlines: UBS likely to buy C Suisse, direct tax collection up 15.3%
Business Standard brings you the top headlines at this hour
 "Top headlines: UBS likely to buy C Suisse, direct tax collection up 15.3%")
Credit Suisse default swaps 18x UBS Group AG, 9x Deutsche Bank
One-year credit default swaps for the embattled Swiss lender were indicated at 835.9 basis points on Tuesday's close of business
China could control a third of the world's Lithium supply by 2025: UBS AG
The bank expects Chinese-controlled mines, including projects in Africa, to raise output to 705,000 tons by 2025, from 194,000 tons in 2022
 "China could control a third of the world's Lithium supply by 2025: UBS AG")
Global mkts fully pricing in Fed hike to 5.5%; Indian equities at risk: UBS
India, according to them, is among the more sensitive markets to US rates, and demonstrates the most sensitivity to local rates given higher influence of domestic flows into the market
 "Global mkts fully pricing in Fed hike to 5.5%; Indian equities at risk: UBS")
Top headlines: Asian Paints Q1 net rises 80%; UBS upgrades RIL scrip
Asian Paints Ltd on Tuesday reported an 80.39 per cent increase in its consolidated net profit to Rs 1,036.03 crore for the first quarter ended on June 30, 2022
 "Top headlines: Asian Paints Q1 net rises 80%; UBS upgrades RIL scrip")
UBS expects retail flows into equity markets to slow amid rising rates
Meanwhile, the $23 billion net selling by FIIs (equity) in the Indian market year-to-date (YTD), is, when adjusted for FII AUM, the most intense in over a decade-surpassed only by the GFC, UBS said
 "UBS expects retail flows into equity markets to slow amid rising rates")