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UBS could take years to feel the bite of new regulations after the Swiss government set out plans aimed at keeping the "monster bank" in line that were light on detail and heralded a tortuous political process to enshrine them in law. Shares in the Zurich-based lender took a knock on Wednesday after the finance ministry said its "too big to fail" recommendations envisaged tougher capital requirements for UBS and other systemically important banks following the rescue of its stricken rival Credit Suisse in 2023. "The measures proposed by the Federal Council are not enough to finally regulate the banking sector effectively," said Cedric Wermuth, co-leader of the centre-left Social Democrats (SP), the second-biggest party in the Swiss parliament. ....
From a record quarter at Tesla shop floor to US crude oil strategy and Pizza Hut firing to price surge in American realty, here s a look at some of the developments from the world of business and economy. ....
Bitcoin has broken above US$40,000 for the first time since May 2022 as it rides a wave of momentum on broad enthusiasm about US interest rate cuts and as traders bet on the imminent approval of US stock market-traded bitcoin funds. ....
The stock price of UBS Group AG (NYSE: UBS) has plunged by -0.08 when compared to previous closing price of 26.02, but the company has seen a 1.48% gain in its stock price over the last five trading sessions. Accesswire reported 2023-09-18 that LEXINGTON, MA / ACCESSWIRE / September 18, 2023 / TRIAN ....