Posts filtered by tags: UBS Group AG[x]


UBS Brokerage Pays $8 Million to Settle U.S. SEC Charges, SEC Says

By Chris Prentice and Lisa LambertWASHINGTON (Reuters) -The brokerage arm of UBS Group AG agreed to pay $8 million to settle charges made by the...
Tags: Ubs, UBS Group AG, Chris Prentice, SEC Charges SEC, Lisa LambertWASHINGTON Reuters

Saudis, Russia Have Tentative Deal for Gradual OPEC+ Output Hike - Bloomberg

Saudis, Russia Have Tentative Deal for Gradual OPEC+ Output Hike - Bloomberg Saudi Arabia and Russia reached a tentative agreement to gradually increase OPEC+ oil output, but prices kept rising as the cartel looked set to keep a firm grip on supply.Negotiations over the details of the supply hike are still underway, delegates said, asking not to be named because the information is private. The proposal under discussion would add about 2 million barrels a day to the cartel’s output from August ...
Tags: Travel, New York, Russia, Opec, UBS Group AG, Giovanni, Rupert Neil Bumfrey, Bloomberg Saudi Arabia, OPEC Output Hike Bloomberg

UBS plans hybrid work model for two-thirds of employees

UBS Group AG will permanently allow up to two-thirds of its employees to utilize a hybrid schedule that includes both working at home and going into the office.
Tags: Finance, Article, Ubs, FBN, UBS Group AG, Fbn/markets, FOXBusiness, fox-business/industries/Financials, Fox-business/jobs, Jonathan Garber, 58b5c74a-339a-53ac-a0eb-8dffd3481385

Oil Holds Steady After U.S. Build as Focus Turns to Inflation - Bloomberg

Oil Holds Steady After U.S. Build as Focus Turns to Inflation - Bloomberg PRICES West Texas Intermediate for July delivery was little changed at $69.97 a barrel at 10:01 a.m. London timeWTI slipped below $70 on Wednesday, after rising to the highest since 2018 earlier this weekBrent for August settlement edged up 0.1% to $72.29 Oil erased losses as traders awaited inflation data, after an increase in U.S. fuel stockpiles brought crude’s rally to a halt.Futures in New York held stead...
Tags: Travel, New York, London, Opec, UBS Group AG, Rupert Neil Bumfrey, Focus Turns to Inflation Bloomberg

Mach 1.7: United bets on supersonic flights with $3 billion jet order

By Justin Bachman | Bloomberg United Airlines Holdings is jumping into the potential market for supersonic travel with the first firm order for Boom Technology’s Overture aircraft, wagering that business flyers will pay top dollar for speedier trips across oceans. The airline will buy 15 of the supersonic jets, which are expected to carry passengers in 2029, the companies said in a statement Thursday. At $200 million a plane, the deal is valued at $3 billion at list prices and Boom doesn’t offer...
Tags: Europe, Business, New York, London, News, San Francisco, Sport, Chicago, Atlantic, Soccer, Tokyo, Virgin Group, Richard Branson, Boom, Airlines, Denver

Archegos hit tops $10B after UBS, Nomura losses

The battering to Wall Street banks from Archegos Capital Management topped $10 billion after UBS Group AG and Nomura Holdings Inc. reported fresh hits caused by the fund’s collapse.
Tags: Finance, Article, The Wall Street Journal, Nomura Holdings Inc, FBN, UBS Group AG, Fbn/markets, Fox-business/markets, Fox-business/markets/stocks, Fox-business/markets/wall-street, Fox-business/investing-and-transactions, Fox-business/politics/government-and-institutions, fox-business/industries/Financials, Fox-business/money, Fox-business/topic/banking, UBS Nomura

Bankers Return Downtown Just in Time for Brookfield #Dubai Tower - Bloomberg

Bankers Return Downtown Just in Time for Brookfield Dubai Tower - Bloomberg ICD-Brookfield Place tower in Dubai.   Source: ICD-Brookfield ICD-Brookfield has had to ride Dubai’s economic roller-coaster since opening the largest standalone office tower in the city last September when the worst of the coronavirus outbreak appeared over.More than half a year and another spike in infections later, regular office life remains a way off. Even without the pandemic casting a shadow over...
Tags: Travel, Dubai, UBS Group AG, Brookfield Asset Management Inc, Devereux, Rupert Neil Bumfrey, Brookfield Dubai Tower Bloomberg, ICD Brookfield ICD Brookfield, Rob Devereux, ICD Brookfield Seven, Julius Baer Natixis

Ousted WeWork CEO Adam Neumann actually helped the company secure its SPAC merger, according to a report

Former WeWork CEO Adam Neumann. Michael Kovac/Getty Images for WeWork WeWork is going public via a SPAC merger with BowX Acquisition Corp. Ousted WeWork CEO Adam Neumann called the co-CEO of BowX in November, sources said. During the call, Neumann phelped set the spark for the SPAC deal, they said. See more stories on Insider's business page. An unlikely figure helped set the spark for SoftBank Group's $9 billion deal to take WeWork public.Adam Neumann met with the head of the spec...
Tags: China, Ipo, Softbank, Sacramento Kings, Trends, WeWork, Vivek Ranadive, Neumann, SPAC, Adam Neumann, Masayoshi Son, UBS Group AG, Marcelo Claure, SoftBank Group, Ranadive, WeWork WeWork

Kanye West is now reportedly worth $6.6 billion thanks to his Yeezy brand's apparel and footwear deals, making him the richest Black American in history

Jared Siskin/Patrick McMullan via Getty Images Kanye West is the wealthiest Black person in US history with a reported net worth of $6.6 billion. USB values West's Yeezy collaboration with Gap at $3.2 to $4.7 billion, according to Bloomberg. That valuation brings the mogul's net worth to a historic new high. See more stories on Insider's business page. Kanye West just became the wealthiest Black person US history. The multifaceted star's new net worth tops out at $6.6 ...
Tags: Entertainment, US, Trends, Adidas, Bloomberg, People, Kanye West, West, Ubs, Retail, Gap, Forbes, Kim Kardashian West, Nick Cannon, Yeezy, UBS Group AG

Credit Suisse posts 22% slide in 2020 net profit on back of significant legal charges. It plans to boost lending volume to shore up revenue

The earnings cap a tumultuous year for Credit Suisse. Arnd Wiegmann/Reuters Swiss lender Credit Suisse reported a 22% drop in 2020 annual profit on the back of high legal charges.The bank said it plans to boost lending volume to shore up revenue hurt by provisions and the pandemic.The earnings cap a tumultuous year for the bank, which began with the ousting of Tidjane Thiam as CEO.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.ZURICH (Reuters) - Credit Suisse on Th...
Tags: Asia, China, Trends, Asia Pacific, Credit Suisse, Switzerland, Tidjane Thiam, Zurich, UBS Group AG, Christopher Cushing, Brenna Hughes Neghaiwi, Thomas Gottstein, Shalini Nagarajan Reuters, Credit Suisse Arnd Wiegmann Reuters, Wealth Management and Investment Banking, Gottstein

#Russia’s Pandemic Winners Drive $10 Billion Share Sale Pipeline - Bloomberg

Russia is on track for a blockbuster year of share sales, led by gold miners, e-commerce companies, and other firms emerging stronger from the pandemic.Initial and secondary public offerings by Russian companies on domestic and foreign exchanges could exceed $10 billion this year, according to VTB Capital, the investment-banking arm of Russia’s second-biggest lender. That would be the strongest showing in at least eight years, Dealogic data show. For now, markets are awash with stimulus, te...
Tags: Travel, Europe, Ipo, Russia, Bloomberg, VTB, UBS Group AG, Alexey Navalny, Rupert Neil Bumfrey, Moex, Fedor Tregubenko

Citigroup’s #UAE Wealth-Management Unit Plans to Triple Assets - Bloomberg

Citigroup’s UAE Wealth-Management Unit Plans to Triple Assets - Bloomberg Citigroup Inc.’s wealth-management business in the United Arab Emirates plans to triple assets under management to $15 billion over the next five years by increasing the number of its client-relationship managers.As part of the strategy, Citibank UAE is targeting to quadruple the number of affluent clients in the country, the company said in an emailed statement. The growth will partly come from a mix of physical and digit...
Tags: Travel, Japan, New York, Middle East, United Arab Emirates, Citigroup, World Bank, Uae, UBS Group AG, Credit Suisse Group AG, France New Zealand, Standard Chartered Plc, Rupert Neil Bumfrey, Triple Assets Bloomberg, Citibank UAE

OPEC+ Emerges From Chaos of 2020 to Face Delicate Balancing Act - Bloomberg

OPEC+ Emerges From Chaos of 2020 to Face Delicate Balancing Act - Bloomberg As one of the most tumultuous years in oil’s history ends, a delicate task now confronts OPEC+.The alliance of producers led by Saudi Arabia and Russia must decide whether it can continue to restore crude supplies without capsizing the price recovery they spent most of 2020 working to achieve.Moscow believes that the group -- which slashed output during the pandemic -- can revive another 500,000 barrels a day of idle cap...
Tags: Travel, Saudi Arabia, Russia, Opec, Bloomberg, Moscow, Zurich, Riyadh, Organization of Petroleum Exporting Countries, UBS Group AG, Giovanni, Rupert Neil Bumfrey

#Qatar-Owned Quintet Builds Family Office Unit With Key Hires - Bloomberg

Qatar-Owned Quintet Builds Family Office Unit With Key Hires - Bloomberg Qatar-owned Quintet Private Bank SA has made key hires from rival banks as it builds out a business to manage the family wealth of entrepreneurs.The Luxembourg-based group said it hired Cindy Eicher from JPMorgan’s Swiss wealth management business to co-head its Family Investment Office in Switzerland. It also brought in Raphael Drescher from Deutsche Bank AG to head the U.K. Family Investment Office and added three other h...
Tags: Travel, Europe, Qatar, Netherlands, Switzerland, Luxembourg, Jpmorgan, UBS Group AG, Deutsche Bank AG, Stott, Al Thani, Rupert Neil Bumfrey, Precision Capital, Juerg Zeltner, Brown Shipley, Quintet Private Bank SA

Oil Pares Decline With Markets Shrugging Off New Virus Wave - Bloomberg

Oil Pares Decline With Markets Shrugging Off New Virus Wave - Bloomberg:Oil pared an earlier decline as equities rose, shrugging off some concerns about a second wave of coronavirus cases in China.Futures in New York were 0.7% lower, after falling as much as 3.1%. Stock markets in Europe gained as traders looked at stimulus measures to help boost the economy, including in the U.S. However, any recovery is fraught with risk as a new phase of virus infections emerges in Beijing, forcing the govern...
Tags: Travel, Europe, New York, Bloomberg, Beijing, UBS Group AG, Rupert Neil Bumfrey, Giovanni Staunovo, China Futures

#Qatar Wealth Fund Said to Seek $7.6 Billion Loan Backed by Stock - Bloomberg

Qatar Wealth Fund Said to Seek $7.6 Billion Loan Backed by Stock - Bloomberg: A boat moored in front of the skyline of Doha, Qatar.    Photographer: GIUSEPPE CACACE/AFP via Getty Images Qatar’s sovereign fund is borrowing around 7 billion euros ($7.6 billion) against its stock holdings, as the top liquefied natural gas exporter seeks to bolster its cash reserves at a time of plunging energy prices, people with knowledge of the matter said.The Qatar Investment Authority is in disc...
Tags: Travel, Europe, Qatar, Bloomberg, Qatar Investment Authority, Gulf, Glencore Plc, JPMorgan Chase Co, Doha Qatar, UBS Group AG, Rupert Neil Bumfrey, Giuseppe Cacace, Stock Bloomberg, Getty Images Qatar, London Stock Exchange Group Plc Volkswagen AG

Global Oil Deal at Risk After Mexico Refuses Saudi-Russia Plan

(Bloomberg) -- An historic multilateral deal to lower global oil production and stabilize prices, led by record cuts from Saudi Arabia and Russia, is at risk of collapse after Mexico refused to sign up.The impasse casts doubt on efforts to revive the market from a debilitating coronavirus-induced slump. The deal by the coalition of nations known as OPEC+, which dwarves s previous interventions and has been sponsored by U.S. President Donald Trump, would end the price war between Riyadh and Mosco...
Tags: Energy, New York, London, News, Vladimir Putin, Mexico, Saudi Arabia, Russia, America, Opec, Bloomberg, Moscow, Brent, Donald Trump, Trump, Riyadh

Bank of America’s Race to Avoid Public Shaming Underscores the Perils of the Crisis

(Bloomberg) -- For 93 uncomfortable minutes, Bank of America Corp. rushed to escape infamy this week, before it was saved by the grace of James Corden, the affable talk show host known for crooning in cars with stars.The drama began when California Governor Gavin Newsom called out the bank for not offering 90-day grace periods to mortgage borrowers affected by the coronavirus, despite such pledges by rivals including JPMorgan Chase & Co. and Wells Fargo & Co. A journalist tweeted the lashing, an...
Tags: News, Mac, California, Washington, Senate, White House, Massachusetts, Elizabeth Warren, America, Bank Of America, Bloomberg, James Corden, Financial Times, Gavin Newsom, Citigroup Inc, Bank of America Corp

Even China’s Big Oil Is Cutting Back

(Bloomberg Opinion) -- Under the watchful eye of Beijing’s energy hawks, China’s oil and gas majors have splurged for more than a decade, first on deals abroad and then drilling at home. Yet with crude prices at less than half where they were at the start of the year and demand battered by a coronavirus epidemic, they’re preparing to cut back.Cnooc Ltd. signaled Wednesday it might reduce its 2020 capital expenditure budget, which was set at as much as $13 billion, the highest since 2014. PetroCh...
Tags: News, Washington, China, Russia, Bloomberg, Beijing, Canada, Xi Jinping, Italy, Bloomberg LP, Sinopec, Sichuan, Reuters, South China Sea, Saudi Aramco, CNOOC

U.K. Seen Selling Most Bonds Since 2011 Just as Rates Touch Zero

(Bloomberg) -- U.K. bond issuance is set to surge to the highest level in nine years with Prime Minister Boris Johnson’s government expected to unveil a significant increase in budget spending.Sales of gilts will rise to 166 billion pounds ($218 billion) in the 2020-2021 financial year, according to the median forecast of 13 bond dealers surveyed by Bloomberg.The nation’s budget announcement on Wednesday coincides with an unprecedented bond rally that sent yields on short-term U.K. benchmark bon...
Tags: England, London, News, Bloomberg, Citigroup, Boris Johnson, Brussels, Gordon Brown, Johnson, Federal Reserve, Morgan Stanley, Brexit, Mizuho, UBS Group AG, Brexit Britain, Nomura International Plc

Coronavirus Could Cost World $1 Trillion If It Becomes a Pandemic, Analysts Predict

The ghastly prospect that the coronavirus outbreak could become the first truly disruptive pandemic of the globalization era is renewing doubts over the stability of the world economy. With the death toll approaching 3,000, over 80,000 cases officially recorded and an outbreak in Italy now shutting down the richest chunk of its economy, some economists are beginning to war game what an untethered outbreak could mean for global growth. Those at Oxford Economics reckon an international health...
Tags: South Korea, Europe, News, Washington, China, Uncategorized, Bloomberg, Economy, Italy, World Health Organization, International Monetary Fund, World Bank, Bundesbank, Imf, Riyadh, Bloomberg Television

UBS faces uphill battle to regain ground after HK IPO ban lifted

UBS Group AG is likely to have a hard time regaining ground lost in the 10 months it was banned from the big-money business of sponsoring IPOs in Hong Kong, where Chinese rivals have become formidable players, bankers and analysts said.
Tags: Hong Kong, Money, businessNews, Ubs, UBS Group AG, HK IPO

Volatility Strategists on 2020: Ignore Sanders at Your Own Risk

(Bloomberg) -- Small-cap shares are a good hedge for potential downturns, volatility strategists say. Credit Suisse Group AG adds that investors who aren’t “feeling” Bernie Sanders’s prospects risk being blindsided by the U.S. election.But overall, stock swings shouldn’t impress.UBS Group AG strategist Stuart Kaiser predicts realized volatility on the S&P 500 Index will drop from about 19% in the first half of the year to 12% in the second half as growth trends turn positive and inflation moment...
Tags: Hong Kong, News, Germany, Singapore, Elizabeth Warren, Bloomberg, United States, Credit Suisse, Middle East, Ubs, Kaiser, Warren, Federal Reserve, Bernie Sanders, Sanders, Democratic

ECB contracts Acciona to do engineering for Paraguayan HVO plant

In Spain, Reuters reports that Acciona has won an engineering contract to build the first HVO plant in Paraguay, the new ECB plant recently announced that will also produce aviation biofuel. The facility will use Honeywell UOP and Crown Iron Works technologies. Funding raising for the $800 million project was outsourced to Barclays Bank Plc and UBS Group AG by ECB. The 20,000 barrels per day of production will likely be exported to high value markets in the US, Canada and Europe.
Tags: Spain, Paraguay, Ecb, Producer News, Reuters, Barclays Bank PLC, US Canada, UBS Group AG, HVO, Acciona, Honeywell UOP

‘I have no money’: Maezawa, SpaceX’s billionaire passenger-to-be, sells art and offers stock as collateral to banks

One of Japan’s richest men is raising more questions about his wealth. Yusaku Maezawa, the founder and largest shareholder of the country’s online fashion shopping site Zozo Inc., said on Twitter that he’s selling more of his notable art collection to raise money. That comes as he pledged an usually high percentage of his stock holdings — 88 percent — as collateral to banks including UBS Group AG and Nomura Holdings Inc. The 43-year old Maezawa earned a reputation as one of the world’s biggest s...
Tags: Asia, Twitter, Business, Japan, Spacex, Elon Musk, New York, Milan, News, Uncategorized, Bloomberg, Sport, Soccer, Andy Warhol, Musk, Christie

UBS, Standard Chartered settle 2009 Hong Kong IPO misconduct case

UBS Group AG and Standard Chartered PLC have agreed to settle a case of alleged misconduct related to a 2009 IPO in Hong Kong, in a move expected to end uncertainty about the Swiss bank's ability to lead stock listings in the city.
Tags: Hong Kong, Money, businessNews, UBS Group AG, Standard Chartered Plc, UBS Standard Chartered

UBS, Standard Chartered agree to settle 2009 HK IPO misconduct case: regulator's counsel

UBS Group AG and Standard Chartered PLC have agreed to settle a case of alleged misconduct related to a 2009 initial public offering (IPO) in Hong Kong, a counsel for the market regulator said at a tribunal hearing on Monday.
Tags: Hong Kong, Money, businessNews, UBS Group AG, Standard Chartered Plc, UBS Standard Chartered

Explainer: UBS appeals IPO sponsor ban, tests HK's crackdown on misconduct

Swiss banking giant UBS Group AG is set to appeal against an unprecedented 18-month ban on leading IPOs in Hong Kong, imposed, sources say, for its role in the listing of a firm which subsequently collapsed.
Tags: Hong Kong, Money, businessNews, Ubs, UBS Group AG

Robots Conquered Stock Markets. Now They’re Coming for Bonds and Currencies

As head of electronic trading in the bank’s global markets division, Krishnan is among a group of Wall Street equities veterans -- including Phil Allison at Morgan Stanley and Mark Goodman at UBS Group AG -- promoted in recent years to take on a delicate assignment: Build machines to handle trading in other markets such as bonds and currencies.
Tags: Science, Morgan Stanley, UBS Group AG, Mark Goodman, Krishnan, Phil Allison

China stocks surge into bull market; Trump urges Opec to 'relax' - business live

Rolling coverage of the latest economic and financial news, as the Chinese stock market enjoys its best day in three and a half yearsLatest: US president says world doesn’t need higher oil pricesIntroduction: Trump delays new tariffs on Chinese goodsTariffs were due to rise to 25% on March 1China’s CSI300 has best day since 2015 1.33pm GMT US crude oil has fallen sharply since Donald Trump urged OPEC to relax - and stop cutting production.A barrel of New York light crude is now changing hand...
Tags: Business, New York, Saudi Arabia, White House, China, US, International Trade, Economics, Opec, Global Economy, Ftse, Donald Trump, Zurich, Trump, UBS Group AG, John Kemp