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The Latest Breaking News from UBS

UBS in talks to take over all or part of Credit Suisse as share prices fall – report

The troubled bank continued to see its price fall despite a $54bn cash infusion from the Swiss national bank

The Guardian - US

Near 'cliff's edge,' Credit Suisse not seen as systemic risk

Longtime troubles at Credit Suisse have come to a head this week with a record stock plunge that spread fears of a banking crisis jumping from the U.S. to Europe

The Independent UK

Credit Suisse to borrow up to $54 billion from central bank after shares plunge

Swiss bank Credit Suisse said Thursday it will move to shore up its finances, borrowing up to $54 billion from the central bank after its shares plunged, dragging down other major European lenders in the wake of bank failures in the United States.

France 24

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Credit Suisse to borrow $54 billion from Swiss central bank

Swiss bank Credit Suisse says it will move to shore up its finances, borrowing up to $54 billion from the central bank after its shares plunged, dragging down other major European lenders in the wake of bank failures in the United States

The Independent UK

Bond traders haven’t been this scared of a recession since 1981

It’s time to brush up on yield curve inversions (again). They’ve predicted every recession since 1955.

Fortune

Wang Tao: Takeaways From China’s Government Work Report

UBS has upgraded its GDP growth forecast for the country to 5.4% for 2023 and 5.2% for 2024

Caixin Global

China property crisis: Changzhou latest to lift home resale restrictions

Changzhou, an affluent city in China's eastern Jiangsu province, has eased restrictions on the resale of residential property, joining several tier-2 cities in easing curbs to boost demand and breathe life into the struggling market.

Bangkok Post

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Flying on autopilot: Serious moves made toward pilotless air travel

Aviation experts say it will take a few decades of development and testing before regulatory authorities will give automated commercial planes the green light.

The New Daily

Mexico is set to be the big winner of the EV revolution—but it has a key challenge to overcome first

“Mexico has unique advantages that could help solidify its position in the automaking industry amid the EV transition,” UBS said Thursday.

Fortune

Corporate America’s earnings quality is the worst in three decades

In telling their stories about how the future is bright for stocks, bulls point to solid earnings to justify the optimism. But cracks are forming in that narrative — in the trajectory of profits, and just as worryingly in the makeup of the profits themselves.

Tribune News Service

Report: 'Embezzled' Lebanese Cash in Swiss Banks

Banks in Switzerland are holding a substantial amount of the millions of dollars Lebanese central bank chief Riad Salameh is accused of embezzling, Swiss media reported on Sunday. Salameh, 72, faces investigations related to suspicions of money laundering and illicit enrichment in Lebanon and abroad after he amassed a fortune…

Asharq Al-Awsat

Apple’s latest patent sparks speculation a foldable iPhone may be in the works

In a bid to recover lost ground, CEO Tim Cook may be planning to launch a competitor to the Samsung Galaxy Z Fold4.

Fortune

Credit Suisse posts $1.4B pre-tax loss as woes go on in 4Q

Credit Suisse has reported a pre-tax loss of more than 1.3 billion Swiss francs, or about $1.4 billion, in the fourth quarter of last year

The Independent UK

Australian coal shipment to arrive at Chinese port as unofficial import ban ends

The resumption of trade marks an improvement in relations and comes a day after Australia-China ministerial talks

The Guardian - AU

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Fortune

Big Tech is making big AI promises in earnings calls as ChatGPT disrupts the industry

Companies like Google and Meta say to expect AI rollouts "very soon," but startups like OpenAI still pose a huge threat.

France 24

Not just ChatGPT: January boom in AI news heralds big year for bots

ChatGPT isn't the only game in town. It may have just hit a record-breaking 100 million monthly active users in just two months, according to a UBS study, but other artificial intelligence (AI) heavyweights hope to catch up. Chief among them are Google's LaMDA, so clever that an employee was…

Fortune

Fed Chair Powell is no Kobe Bryant. He didn’t have ‘Mamba mentality’ in his crucial press conference, UBS says

Jerome Powell has lost some of his focus when it comes to fighting inflation, UBS's chief investment officer said.

The Guardian - US

ChatGPT reaches 100 million users two months after launch

Unprecedented take-up may make AI chatbot the fastest-growing consumer internet app ever, analysts say

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Fortune

The A.I. revolution is here: ChatGPT could be the fastest-growing app in history and more than half of traders say it could disrupt investing the most

More than 50% of traders say that A.I. and machine learning will be the most disruptive forces shaping markets over the next three years, according to a new survey.

The Guardian - UK

First Thing: Ron DeSantis prepares for 2024 White House run

Florida governor’s moves spur Trump to lash out at him during low-key events over the weekend in New Hampshire and South Carolina. Plus, Sarah Michelle Gellar makes a comeback

The Guardian - UK

Barclays and UBS face questions over Roman Abramovich’s billion-dollar trusts

Exclusive: Leak shows oligarch was a major client of Barclays in Monaco and UBS in Zurich, with at least $940m in assets held at the banks

ABC News

Supermarket prices surge and there's more inflation to come, warn analysts

Supermarket price increases accelerated over the past three months of 2022, with Woolworths leading the charge, according to research by investment bank UBS.

Bangkok Post

Big C lining up banks for B30bn IPO

Big C Supercenter Plc has picked Bank of America and UBS Group to advise on an initial public offering expected to be worth at least 30 billion baht, according to people with knowledge of the matter.

Birmingham Post

Wales Fast Growth 50 project is going UK-wide

The project which has showcased the fast growing firms in Wales since 1999 is expanding with lists in England, Scotland and Northern Ireland

Tribune News Service

Lender takes over ownership of Dallas’ landmark Galleria mall

Ownership of the landmark Galleria Dallas mall — one of North Texas’ best known shopping meccas — has been transferred to the property’s lenders just days before Christmas.

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