UBS Financial News

Also Read: Credit Suisse bankers in Southeast Asia leave after UBS takeover UBS is taking over its longtime Swiss rival in a government-orchestrated deal this year and is paring a combined workforce that swelled to about 120,000.

UBS and Bell Potter have underwritten Liontown Resources’ equity raising for $375 million at $1.80 a share, or a 35.5 per cent discount to the last close.

By Davide Barbuscia

UBS began wall crossing fund managers for lithium developer Liontown Resources’ emergency capital raising on Wednesday evening, seeking $400 million from equity capital markets to go alongside $760 million in debt.

(Reuters) — Australia's Santos Ltd on Thursday reported a 7.5% rise in third-quarter revenue from the preceding quarter, helped by increased crude oil volumes and higher prices.

A team of advisors who oversaw $2 billion in client assets at UBS Private Wealth Management have joined RIA Beacon Pointe Advisors, the firm announced Tuesday.

Recent weeks have seen increased volatility in equity markets, primarily influenced by evolving expectations regarding Federal Reserve policy rates and geopolitical factors following the Israel-Hamas war.

UBS Group AG and two major Chinese lenders have been drawn into one of Singapore’s largest money laundering cases, as a police affidavit showed that an alleged fugitive involved had stashed millions at the banks.

Choice Hotels on Tuesday made its latest $7.8 billion cash-and-stock offer public after Wyndham Hotels and Resorts decided to walk away from merger talks, halting six months of discussions around creating a U.S. budget hotel giant. Wyndham rejected Choice Hotels' takeover bid, the Wall Street Journal reported, citing company executives. Choice's offer of $90.00 per share, including $49.50 in cash and 0.324 shares of its common stock for each share held, represents about a 30% premium to Wyndham's last closing price. Shares of Wyndham jumped as much as 13% to $78.48 in morning trade, but were well below the offer price of $90 per share.

₹4,000 crore, according to a report by news website Moneycontrol. The size of the proposed IPO may vary later depending on market conditions and share sale strategies of the investors, according to the report. "This is a big listing in the works.

By Ankika Biswas and Shashwat Chauhan

Despite escalating inflation, the forthcoming festive season is poised to witness substantial shopping activity. People are prepared to open their wallets wider this year compared to the previous one, with a notable trend towards shopping in local markets, malls, and offline stores.

Virgin Australia’s chief development officer David Marr, the executive tasked with leading the airline’s mooted IPO, has stepped down from the role.

UBS managing director and senior portfolio manager Jason Katz discusses whether the U.S. stock market is ignoring the threat of a wider Middle East war on 'Varney & Co.'

Vocus Group, owned by Macquarie and Aware Super, has kicked off talks to put together a debt syndicate for its $6.3 billion bid to carve out ASX-listed TPG Telecom’s fibre assets.

A team of six has moved to the RBC Wealth Management branch in Philadelphia having managed $450 million in client assets at Morgan Stanley.

Investment bank UBS began sounding fund managers for Liontown Resources’ emergency equity raising on Monday evening, after Albemarle yanked its $6.6 billion bid for the lithium explorer before market open.

Lithium explorer Liontown Resources is expected to tap both debt and equity capital markets to fund its flagship Kathleen Valley project, after its NYSE-listed suitor Albemarle folded its cards on Monday morning.

cautious trade as tensions in the Middle East escalated, while investors awaited a speech by Federal Reserve Chair Jerome Powell later this week for further clues on the U.S. central bank's rate outlook. The Israeli shekel fell to more than an eight-year low of 3.9900 per dollar in early Asia trade, after the country's Prime Minister Benjamin Netanyahu vowed on Sunday to «demolish Hamas» as his troops prepared to move into the Gaza Strip in pursuit of Hamas militants. Carry trades funded by the yen could be the biggest casualty of further escalation in the war, analysts said, as global investors who have for months been shorting the yen to invest in higher-yielding currencies buy it back as a safe-haven. The yen was last steady at 149.53 per dollar. The Japanese currency, which is near to potential intervention levels around 150, could also rally if the Fed has to stop hiking rates even as the Bank of Japan feels compelled by domestic inflation to tighten policy.

Swiggy has increased the platform fee that it levies on food delivery orders to Rs 3 from Rs 2. The Prosus-backed company had started charging a flat platform fee to its customers in April regardless of the order value. Its rival, Gurgaon-based Zomato, also started charging a Rs 2 platform fee, which it subsequently increased to Rs 3 in some locations.

New York-listed Albemarle has walked away from its $6.6 billion takeover bid of West Australian lithium hopeful Liontown Resources, citing the “growing complexities” of undertaking the transaction.