UBS chief’s surprise return to the Swiss banking giant bagged him a $15.9 million paycheck

Newly appointed UBS CEO Sergio Ermotti (R) speaks with UBS Chairman Colm Kelleher during a press conference in Zurich on March 29, 2023. Arnd Wiegmann | Afp | Getty Images UBS CEO Sergio Ermotti earned 14.4 million Swiss francs ($15.9 million) in 2023 after his surprise return at the helm of the Swiss banking giant, … Read more

Stock market bubble? Analysts explain why they’re not worried

Traders work on the floor during morning trading at the New York Stock Exchange on March 6, 2024. Spencer Platt | Getty Images Despite the heavy concentration of the U.S. market rally in expensive, AI-focused tech stocks, analysts say Wall Street is not yet in bubble territory. The S&P 500 has climbed for 16 of … Read more

Europe is having its worst earnings season since the onset of Covid

Arc of Triomphe Paris, Champs-Elysees France at night vichie81 / iStock / Getty Images Plus LONDON — Around a half of European companies missed earnings expectations in the latest reporting season despite already low expectations, analysts told CNBC, who predicted that the region will continue to struggle amid high interest rates. As of Feb. 29 … Read more

UBS beats earnings expectations, announces up to $1 billion share buyback

Fabrice Coffrini | Afp | Getty Images Swiss banking giant UBS on Tuesday narrowly beat fourth-quarter earnings expectations and announced that it would recommence share buybacks worth up to $1 billion in the second half of the year. The group posted a net loss attributable to shareholders of $279 million for the quarter, its second … Read more

Gold prices to hit $2,200 and outperformance awaits silver, says UBS

Gold and silver bars of various sizes lie in a safe on a table at the precious metals dealer Pro Aurum in Munich. Sven Hoppe | Picture Alliance | Getty Images Gold and silver are expected to climb further in 2024 on expectations that the U.S. Federal Reserve will start cutting interest rates, UBS forecasts. … Read more

UBS CEO says Swiss public ‘indoctrinated’ to worry about bank’s balance sheet

Sergio Ermotti, chief executive officer of UBS Group Stefan Wermuth | Bloomberg | Getty Images UBS CEO Sergio Ermotti on Wednesday said people with concerns about the size of the bank’s balance sheet are getting “indoctrinated” by academics and should “do their homework.” UBS completed its takeover of Credit Suisse in June 2023 after an … Read more

Swiss regulator calls for more powers after Credit Suisse collapse

Axel Lehmann, chairman of Credit Suisse Group AG, Colm Kelleher, chairman of UBS Group AG, Karin Keller-Sutter, Switzerland’s finance minister, Alain Berset, Switzerland’s president, Thomas Jordan, president of the Swiss National Bank (SNB), Marlene Amstad, chairperson of the Swiss Financial Market Supervisory Authority (FINMA), left to right, during a news conference in Bern, Switzerland, on … Read more

Oil prices set to rise in 2024 after OPEC+ voluntary cuts

Processing towers stand at the RN-Tuapsinsky refinery, operated by Rosneft Oil Co., in Tuapse, Russia, on Monday, March 23, 2020. Andrey Rudakov | Bloomberg | Getty Images Oil prices are expected to rise in the new year after some OPEC+ oil producers voluntarily pledged to cut output. The oil cartel on Thursday released a statement that did … Read more

Despite cool inflation, don’t expect rate cuts

The Marriner S. Eccles Federal Reserve building during a renovation in Washington, DC, US, on Tuesday, Oct. 24, 2023. Valerie Plesch| Bloomberg | Getty Images This report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where … Read more

UBS sees a raft of Fed rate cuts next year on the back of a U.S. recession

U.S. Federal Reserve Chairman Jerome Powell takes questions from reporters during a press conference after the release of the Fed policy decision to leave interest rates unchanged, at the Federal Reserve in Washington, U.S, September 20, 2023. Evelyn Hockstein | Reuters UBS expects the U.S. Federal Reserve to cut interest rates by as much as … Read more