UBS Financial News

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Leading Swiss asset management bank UBS has announced the debut of its first live pilot of a tokenized Variable Capital Company (VCC) fund on the Ethereum blockchain in Singapore. 

Jio cemented its dominance of rural India in July as it was the only telco to add mobile users while both Bharti Airtel and Vodafone Idea (Vi) lost ground. Analysts said the scenario underlines the growing appetite of entry-level mobile users for Jio's internet-enabled budget feature phone, JioBharat, to shift to 4G technology. «Jio's strong (rural) momentum is likely driven by JioBharat phone subscribers, especially post Bharti' Airtel's recent hikes in the minimum recharge plans and Jio's launch of the new phone,» UBS said in a note. Latest subscriber data collated by the Telecom Regulatory Authority of India (Trai) showed Jio added 2 million mobile users in the rural markets in July while both Airtel and Vi lost 540,000 and 690,000 rural users respectively. Jio's rural mobile user base expanded to 194.73 million in July, while Airtel and Vi's slipped to 180.84 million and 111.32 million respectively. In July, Jio's parent, Reliance Industries (RIL) had launched Jio Bharat, an internet-enabled feature phone, costing ₹999 in a bid to attract more of the estimated 250 million entry-level mobile broadband customers, especially in the rural markets where competition is set to intensify with rival Airtel also eyeing this market. Both Jio and Airtel have been seeking to grab loss-making Vi's user base in the hinterlands as bulk of the telecom sector's net 4G user additions are from rural markets.

Syrah Resources, the ASX-listed graphite producer, is set for a moment in the sun with demand for the key battery material expected to send spot prices up by more than 50 per cent, according to brokers at UBS.

A parcel of 2.18 million shares in ASX-listed funds management business Pacific Current, representing 4.2 per cent of the company, changed hands after market close on Friday evening.

A new face is set to be wandering the corridors of Sydney private equity firm Adamantem Capital.

ZURICH (Reuters) -Credit Suisse has reached an 11th-hour out-of-court settlement with Mozambique over the $1.5 billion-plus «tuna bond» scandal, the Swiss bank's new owner UBS said on Sunday, drawing a line under a damaging dispute it inherited.

ZURICH (Reuters) — UBS on Saturday said it is «not aware» of a probe by the U.S. Department of Justice into alleged sanctions-related compliance failures, following a media report earlier this week.

Wall Street analysts have expressed positive comments regarding Meta Platforms (NASDAQ:META) following the firm’s annual “Connect” developers conference.

RBC Wealth Management has added a Kansas-based team that managed $1 billion in client assets at UBS, the firm announced Thursday.

The top royal for one of the world’s smallest nations heads a multibillion-dollar dynasty dating back almost 1,000 years that’s endured through wars, floods and scandals.

ZURICH (Reuters) -Credit Suisse has shed nearly 13% of its workforce this year, underlining the turmoil at the bank that was taken over by cross-town rival UBS in a state-engineered rescue earlier this year.

Auto retail is finally shifting from a seller’s market to a buyer’s market: Dealers’ car lots are looking fuller, while high interest rates are making consumers choosier. That spells opportunity for online marketplaces such as Cars.com, CarGurus and TrueCar that stand to do well when manufacturers and dealers become more desperate. CarGurus and Cars.com are among the largest online platforms that consumers use to shop for cars.

ICICI Lombard. Jefferies has a buy rating on RIL and Motilal Oswal recommended a buy on Global Health (Medanta). We have collated a list of recommendations from top brokerage firms from ETNow and other sources: UBS on L&T: Buy| Target Rs 3600 UBS maintained a buy rating on L&T but raised the target price to Rs 3600 from Rs 3040 earlier. Past strategies aided capability/scale and asset light sustainability is the new strategy for the company.

Solomon Lew’s Premier Investments is stepping up overseas expansion of its Smiggle stationery chain, with 20 stand-alone stores planned by the end of 2024 in the Middle East and 60 in that region over the next decade.

By Bansari Mayur Kamdar and Sruthi Shankar

By Mathieu Rosemain and Noele Illien

UBS Group AG will on Wednesday seek to convince France’s top court to overturn a reputation-damaging conviction and €1.8 billion ($1.9 billion) penalty for helping wealthy French clients stash away undeclared funds in Swiss accounts.

Grant Samuel co-chief executive Guy Fergusson is set to step away from the investment advisory boutique after four years in the top job, Street Talk understands.

UBS managing director and senior portfolio manager Jason Katz discusses the impact of the UAW strike on the Federal Reserve and the auto industry, as well as high oil prices.

By Davit Kirakosyan