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Articles for Ubs, search results for cuts

RBA keeps interest rates on hold at 4.35pc but says 'it will be some time' before inflation within target band
9 months ago

RBA keeps interest rates on hold at 4.35pc but says 'it will be some time' before inflation within target band

ABC  

The Reserve Bank has left interest rates on hold amid signs that growth in the economy has dramatically slowed down following 13 interest rate rises since May 2022. The cash rate remains at 4.35 per cent, and while the central bank gave no clear indication of where it was headed next, saying it was "not ruling anything in or out", …

Economy Growth Board Inflation Interest Rates Interest Target
UBS reports huge 2Q profit skewed by Credit Suisse takeover and foresees $10B in cost cuts
1 year, 3 months ago

UBS reports huge 2Q profit skewed by Credit Suisse takeover and foresees $10B in cost cuts

Associated Press  

GENEVA — Swiss banking giant UBS on Thursday announced plans to save $10 billion in costs, including through 3,000 staff reductions in Switzerland in the coming years, as it moves ahead with “full integration” of longtime rival Credit Suisse’s domestic operations following a takeover. In a conference call with analysts, UBS chief executive Sergio Ermotti addressed one of the major …

Credit Bank Billion Switzerland Ubs Swiss Credit Suisse
UBS to cut more than half of workforce at Credit Suisse: Report
1 year, 5 months ago

UBS to cut more than half of workforce at Credit Suisse: Report

Hindustan Times  

Swiss banking group UBS plans to cut 35,000 jobs at Credit Suisse -- more than half its workforce -- as part of the emergency rescue takeover of its rival in March, according to a report by Bloomberg News on Tuesday. The logos of the Swiss banks Credit Suisse and UBS are pictured in Zurich, Switzerland, June 12. Credit Suisse had …

Ubs Swiss Credit Suisse
Credit Suisse sees outflows worth $69 billion in Q1
1 year, 8 months ago

Credit Suisse sees outflows worth $69 billion in Q1

Live Mint  

Credit Suisse Group AG reported 61.2 billion francs of outflows in the first quarter and took a large writedown at its wealth management unit, underscoring the challenge for UBS Group AG in retaining key clients and assets after the emergency takeover. While Credit Suisse said that outflows have moderated not yet reversed, it also lost about 6.9 billion of outflows …

Wealth Credit Bank Billion Ubs Swiss Credit Suisse
Swiss lawmakers pick apart Credit Suisse woes ahead of deal
1 year, 8 months ago

Swiss lawmakers pick apart Credit Suisse woes ahead of deal

Associated Press  

GENEVA — Switzerland’s parliament opened a special session Tuesday to scrutinize the state-imposed takeover of Swiss bank Credit Suisse by rival UBS — and consider strengthening the legal arsenal to better gird against financial blowups. Johanna Gapany, a centrist lawmaker and rapporteur for the upper chamber’s finance commission, said the parliamentary panel had made three main proposals: change competition rules …

Financial Credit Switzerland Ubs Lawmakers Credit Suisse Suisse
UBS confident about Credit Suisse deal despite ‘huge’ risk
1 year, 8 months ago

UBS confident about Credit Suisse deal despite ‘huge’ risk

Associated Press  

GENEVA — The UBS chairman voiced confidence Wednesday that the Swiss bank will succeed in a government-engineered takeover of hobbled rival Credit Suisse, pledging the deal will reduce costs, benefit shareholders and buttress Swiss finance despite “huge” risks in knitting the global lenders together. Speaking to UBS shareholders, Colm Kelleher gave an overview of the 3 billion Swiss franc takeover …

Financial Credit Shareholders Bank Takeover Risk Banks
UBS-Credit Suisse merger anticipated to cause over 30,000 jobs loss
1 year, 8 months ago

UBS-Credit Suisse merger anticipated to cause over 30,000 jobs loss

Hindustan Times  

The merger between banks Credit Suisse and UBS could see up to 36,000 jobs being cut across the world, the SonntagsZeitung weekly reported on Sunday. UBS announced on Wednesday it would bring back former chief executive Sergio Ermotti to handle the huge risks involved in the Swiss banking giant's controversial absorption of its troubled rival Credit Suisse. UBS and Credit …

Credit Bank Ubs Swiss Credit Suisse Suisse
UBS takeover of Credit Suisse to spark job crisis in London as 10,000 positions on the line across world
1 year, 9 months ago

UBS takeover of Credit Suisse to spark job crisis in London as 10,000 positions on the line across world

Firstpost  

New Delhi: The historic takeover of beleaguered Credit Suisse by rival UBS threatens to spark another crisis: a job problem for around 5,000 employees in the UK. Reuters quoted Stephane Rambosson, co-founder of Vici Advisory which specialises in hiring senior investment bankers, as telling the agency, “Many Credit Suisse bankers had already been talking to a lot of people for …

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This Swiss investment bank cut employee bonus by 10%, gave CEO $13 million boost
1 year, 9 months ago

This Swiss investment bank cut employee bonus by 10%, gave CEO $13 million boost

Hindustan Times  

UBS Group AG cut bonuses for last year by 10% after its dealmakers saw revenue erode by a slump in mergers and capital raisings. UBS stood out among global peers in its confidence that large-scale job cuts seen across Wall Street. Chief Executive Officer Ralph Hamers received 12.2 million Swiss francs for his second full year in the job, an …

Bank Last Year Ubs Wall Street Cut Job
China leaders vow to create self-reliant 'technology power'
4 years, 1 month ago

China leaders vow to create self-reliant 'technology power'

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy China’s leaders vowed Thursday to …

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