UBS Financial News

Bond deals arranged by Credit Suisse and Bank of America Corp. in connection with debt swaps for emerging-market issuers are facing renewed scrutiny, after the International Capital Market Association issued new labeling guidelines.

The suit could be filed by the end of the year but is not certain to proceed, people familiar with the discussions told the FT.

Some investors are still sceptical after losing billions of dollars during the Credit Suisse bailout.

Whitehaven Coal has confirmed it is in the running to acquire BHP’s major Daunia and Blackwater coal mines in Queensland after a major investor alleged the company had selectively briefed some of its shareholders and suggested the market was “misinformed”.

corporate zombification has once again been on an upward trend globally, says a recent study by Bruno Albuquerque and Roshan Iyer at the International Monetary Fund. This, the researchers say, leads to “congestion effects.” Healthy firms experience lower investment, employment and productivity growth as unviable rivals waste resources. Better-quality enterprises also suffer faster exits, and new entrants are slower to arrive.

Switzerland wants to hold a vote on partially nationalizing UBS Group AG, newspaper Sonntagszeitung reported. The initiative proposes to amend the Swiss constitution to say that “large banks of systemic importance are to be managed as joint stock companies with the confederation as majority shareholder in terms of share capital,” according to the paper. The text is currently under review by federal authorities. If they greenlight it, the initiators have 18 months to collect 100,000 signatures for their cause. Parliament and cabinet ministers would then need to weigh in before the issue could be put to a national vote, a process that would likely take several years. Popular initiatives are a key part of Switzerland's system of direct democracy. Even if they don't succeed, they often influence public debate. After the governmentbrokered takeover of its former rival Credit Suisse, UBS's assets are now about twice the size of the Swiss economy. This has raised concerns that the bank would be too big to rescue. UBS “is a cluster risk for our economy,” said Bernhard Schmidt, the 58-year-old school headmaster from near Zurich who's leading the initiative, according to Sonntagszeitung. “In the next crisis, the whole country could go under.”

Things are finally moving at Australia’s biggest horticultural company.

BEIJING — China's National Bureau of Statistics was set Friday to release economic data for August, a day after a surprise rate cut to aid its faltering economy.

China is speeding ahead in the electric-vehicle race. Europe’s antisubsidy investigation into Chinese EV makers reflects this new reality, but tariffs alone aren’t enough to keep Europe’s automakers in the fast lane. The European Union has launched a probe into whether state subsidies have given Chinese EV makers an unfair leg up as they accelerate into European markets.

By Yantoultra Ngui

Another month, another suspenseful inflation number. India’s 6.8% rise in the Consumer Price Index (CPI) on Tuesday was lower than expected because of slower-rising vegetable prices that however still jumped 26%. The US’s August inflation number released on Wednesday, meanwhile, disrupted the cheery view that the US economy is managing to avoid a recession while inflation does the Federal Reserve’s bidding without needing more interest rate hikes.

Also Read: UBS's Credit Suisse takeover, 'deal of the century'? In case of delay in releasing of original property documents or failing to file charge satisfaction form with relevant registry beyond 30 days after settlement of loan, the RE shall communicate to the borrower reasons for such delay. However, if the delay is attributable to the RE, it shall compensate the borrower at the rate of ₹5,000 for each day of delay, the RBI said.

Did banking giant UBS make "the deal of the century" when it bought one of the world's biggest banks for a pittance as it teetered on the edge of the abyss? Switzerland's largest bank was in March strong-armed by Swiss authorities into a $3.25-billion takeover of Credit Suisse, to keep its closest domestic rival from going under. At the time, investors gasped at the risks UBS was taking on with the purchase.

Stockbroker Ord Minnett’s head of natural resources, Richard Saywell, is packing his bags for a rival.

Oil trading giant Vitol launched a $714 million block trade in Viva Energy – worth 16.1 per cent of the company – after market close on Tuesday evening, as revealed by Street Talk.

Aerosmith's ‘Peace Out: The Farewell Tour’, marking over 50 years together, faces delays following Steven Tyler's vocal cord injury at the UBS Arena on September 9. Steven Tyler, the frontman, shared that doctors ordered him not to sing for 30 days due to vocal cord damage and bleeding sustained during a recent show. As a result, several tour dates will be rescheduled to ensure a proper performance for fans. Six concerts have been moved to 2024, starting in January and concluding in February. The affected cities include Detroit, Chicago, Washington, D.C., Toronto, Raleigh and Cleveland. Previously purchased tickets will remain valid for the new dates, and refunds are available for those unable to attend. Aerosmith had commenced their ‘Peace Out: The Farewell Tour’ on September 2 in Philadelphia, completing only three out of 40 scheduled dates. Notably, in December of the previous year, the band had to cancel the final two shows of their Las Vegas residency due to an undisclosed illness affecting Steven Tyler. Additionally, earlier in their journey, they had postponed dates to enable Tyler to seek treatment for addiction issues that arose following foot surgery.

wealth management, which helps clients allocate assets, minimise tax bills and plan for retirement—typically for an annual fee of 1% of invested assets. Firms are piling into the business, spurred by the prospect of profits that will only become juicier as the world gets richer. Could it be good for clients, too? The wealth industry has long been highly fragmented.

By Saqib Iqbal Ahmed

HUL while Citi has a buy rating. Jefferies recommends a hold on Havells India and Macquarie maintains an outperform rating on HUL.We have collated a list of recommendations from top brokerage firms from ETNow and other sources: UBS on HUL: Neutral| Target Rs 2860 UBS maintained a neutral rating on HUL with a target price of Rs 2860.

Qualcomm reached a three-year deal with Apple to supply the iPhone maker with 5G communications chips, the latest sign that Apple’s effort to make them in-house has yet to bear fruit. Qualcomm said Monday it would supply Apple with the modem chips for smartphone launches in 2024, 2025 and 2026, in a deal with terms similar to a previous arrangement between the companies. Past supply deals have been lucrative for Qualcomm and expensive for Apple.

Commodity trading juggernaut Vitol may be poised to jettison a chunk of its 40.85 per cent stake in ASX-listed fuel retailer and refiner Viva Energy.