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☆ IAG in talks with Airbus, Boeing on potential widebody order - Bloomberg News
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +1 min

[1/2] An Airbus A320 aircraft of British Airways takes off at Zurich Airport near Ruemlang, Switzerland, January 18, 2023. REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsOct 6 (Reuters) - British Airways-owner IAG (ICAG.L) is in talks with Boeing (BA.N) and Airbus (AIR.PA) for a potential order for widebody aircraft, Bloomberg News reported on Friday, citing people familiar with the matter. Orders for long-distance widebody jets have rebounded as carriers try to inject newer planes into their fleet to meet higher international travel demand. IAG is seeking to replace its fleet of older Boeing 777s at British Airways and could order 20 or more aircraft, the report said. Boeing deferred to IAG for any comments, while IAG said it does not comment on market rumors.

Persons: Denis Balibouse, IAG, Shivansh, Shinjini Organizations: Airbus, British Airways, Zurich, REUTERS, Boeing, Bloomberg, Thomson Locations: Ruemlang, Switzerland, Bengaluru

PARIS, Oct 5 (Reuters) - The Mont Blanc, Western Europe's highest peak, has lost more than two metres (6.5 ft) in two years and shrunk to its lowest level since precise measurements started 22 years ago as warmer summers reduced snowpack size, researchers said on Thursday. She added this year's particularly low level was probably due to a lack of rain and a hot summer. When precise GNSS satellite measurements started in September 2001, the Mont Blanc stood at 4,010.40 metres. A view of the Mont Blanc mountain from Le Brevent, in Chamonix, France, June 14, 2022. Farouk Kadded at Leica Geosystems said that this year, for the first time since 2015 - when scientists started measurements in June too - Mont Blanc's snowpack in September had remained virtually unchanged from June.

Persons: topographers, Mont, Cecile Taffin, Mont Blanc, Le Brevent, Denis Balibouse, Farouk Kadded, Topographers, Kadded, Kate Entringer, Dominique Vidalon, Manuel Ausloos, Geert De Clercq, William Maclean, Grant McCool Organizations: REUTERS, Leica, Thomson Locations: Blanc , Western, Chamonix, French, Mont Blanc, Le, France, snowpack

Logos of Swiss banks Credit Suisse and UBS are seen before a news conference in Zurich Switzerland, August 30, 2023. The analyst said higher deposit rates were potentially being used to limit outflows at Credit Suisse and had been weighing on the bank's ability to bolster revenue. Credit Suisse reported net asset outflows of 39 billion francs in the second quarter. However, UBS said the outflows had slowed down and reversed in June, with Credit Suisse reporting net deposit inflows of $18 billion in the second quarter. UBS's Chief Executive Sergio Ermotti has said he aims to get back the Credit Suisse assets.

Persons: Denis Balibouse, Kian Abouhossein, Abouhossein, Sergio Ermotti, Ermotti, Noele Illien, Stefania Spezzati, Oliver Hirt, Elisa Martinuzzi, Mark Potter Organizations: Credit Suisse, UBS, REUTERS, Rights, Suisse, JPMorgan, UBS's, Thomson Locations: Zurich Switzerland, Raiffeisen, Switzerland

☆ Sheikh Ahmad, brother file cases against IOC at CAS over election
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: +2 min

Sheikh Ahmad Al-Fahad Al-Ahmed Al-Sabah leaves a courthouse after the verdict for a trial for forgery in connection with arbitration, in Geneva, Switzerland, September 10, 2021. Sheikh Ahmad was banned from the IOC for three years in July after it found he had an "undeniable impact" on Olympic Council of Asia (OCA) elections in which his brother, Sheikh Talal Fahad Al-Ahmad Al-Sabah, was appointed president. CAS confirmed both Sheikh Ahmad and Sheikh Talal had filed separate cases against the IOC at the Switzerland-based court. Sheikh Ahmad, a former OCA president, travelled to Bangkok ahead of the OCA election in July and was in the city when it took place, which was "interpreted as interference in the election process" by the IOC's ethics commission. Sheikh Ahmad denied all the charges in the case and appealed the conviction.

Persons: Sheikh Ahmad Al, Fahad Al, Ahmed Al, Denis Balibouse, Fahad, Sheikh Ahmad, Sheikh Talal Fahad Al, Ahmad Al, Sheikh Talal's, Sheikh Talal, India's Randhir Singh, Singh, Sheikh Ahmad's, Ian Ransom, Peter Rutherford Organizations: REUTERS, Rights, International Olympic Committee, Sport, Olympic Council of Asia, IOC, OCA, Asian Games, Thomson Locations: Sabah, Geneva, Switzerland, Rights HANGZHOU, China, Fahad Al, Bangkok, India's, Swiss, Hangzhou

☆ At WTO, growing disregard for trade rules shows world is fragmenting
▼ + stars: | 2023-10-02 | by ( Philip Blenkinsop | ) www.reuters.com time to read: +5 min

A logo is seen at the World Trade Organization (WTO) headquarters before a news conference in Geneva, Switzerland, October 5, 2022. Those depositing cases include China, Dominican Republic, India, Indonesia, Morocco, Pakistan, South Korea and the United States. The result is a growing disregard for global trading rules among WTO members. Countries have taken advantage of exceptions to WTO rules, such as for national security used by the United States to limit metal imports and some Gulf states to restrict trade with Qatar. Beijing has restricted exports of critical minerals, while Washington has sought to prevent Chinese access to U.S. technology, with national security trumping global trading rules.

Persons: Denis Balibouse, ”, Alan Wolff, Donald Trump, Keith Rockwell, Biden, Ngozi Okonjo, Philip Blenkinsop, Emma Farge, Christina Fincher Organizations: World Trade Organization, REUTERS, WTO, Reuters, Reuters Graphics, European Union, Foundation, Washington, Thomson Locations: Geneva, Switzerland, China, Dominican Republic, India, Indonesia, Morocco, Pakistan, South Korea, United States, Ukraine, North America, Washington, Qatar, Beijing, U.S, Lake Geneva, Indian

☆ Hedge funds using computers to sell up to $30 billion of stocks soon - UBS
▼ + stars: | 2023-10-02 | by ( Nell Mackenzie | ) www.reuters.com time to read: +2 min

A logo of Swiss bank UBS is seen in Zurich, Switzerland March 29, 2023. REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsLONDON, Oct 2 (Reuters) - Hedge funds using computers to trade equities are expecting to start selling to the tune of $20 billion to $30 billion in the next two weeks given retreating stock markets, a UBS (UBSG.S) note seen by Reuters shows. Hedge funds using algorithms to follow market trends have turned neutral from bullish on stocks, the UBS note said. This will be the first time these hedge funds will be net short equity markets since November 2022, the bank said. The size of the U.S. stock market is estimated to be $46.2 trillion, according to the Securities Industry and Financial Markets Association.

Persons: Denis Balibouse, CTAs, Nell Mackenzie, Dhara Ranasinghe, Alison Williams Organizations: Swiss, UBS, REUTERS, Reuters, Securities Industry, Financial Markets Association, Currency, Bank for International, Thomson Locations: Zurich, Switzerland, U.S

A sign is pictured in front of the Vitol Group trading commodities building in Geneva October 4, 2011. The two Pemex documents are also not public. As part of the settlement, Vitol also dropped a lawsuit against PMI Comercio Internacional, Pemex's international trading arm, for $1.21 million for alleged damages to a refinery in Cressier, Switzerland. Meanwhile, legal proceedings tied to the graft scandal continue in Mexico but also the U.S., where a former employee is on trial, and Ecuador. The graft scandal Vitol acknowledged dates back to Lopez Obrador's predecessors.

Persons: Denis Balibouse, Pemex, Andres Manuel Lopez Obrador, Vitol, Lopez, Adriana Barrera, Stefanie Eschenbacher, Ana Isabel Martinez, Stephen Eisenhammer, Marguerita Choy Organizations: Vitol, REUTERS, MEXICO CITY, Reuters, U.S . Department of Justice, PMI Comercio Internacional, Mexican, Thomson Locations: Geneva, MEXICO, Swiss, Brazil, Ecuador, Vitol, Mexican, U.S, Cressier, Switzerland, Veracruz, Mexico

☆ UBS says 'not aware' of DOJ probe into sanctions-related compliance failures
▼ + stars: | 2023-09-30 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsZURICH, Sept 30 (Reuters) - UBS (UBSG.S) on Saturday said it is "not aware" of a probe by the U.S. Department of Justice into alleged sanctions-related compliance failures, following a media report earlier this week. "We're not aware of such a probe," UBS said in a statement. On Wednesday Bloomberg reported that a full-scale investigation by the U.S. Department of Justice was underway into alleged compliance failures that helped Russian clients evade sanctions. Citing unnamed people familiar with the matter, Bloomberg reported that the DOJ had spoken to U.S.-based lawyers for UBS about Credit Suisse's alleged exposure to sanctions violations since UBS acquired its smaller rival in June. The DOJ is also looking into possible compliance failures at UBS, one of the people cited by Bloomberg said.

Persons: Denis Balibouse, We're, Noele Illien, David Holmes Organizations: Swiss, UBS, REUTERS, Rights, U.S . Department of Justice, CS, Wednesday Bloomberg, Justice, Reuters, Trading, Bloomberg, DOJ, Credit, Thomson Locations: Zurich, Switzerland, Russia

REUTERS/Denis Balibouse Acquire Licensing RightsZURICH, Sept 28 (Reuters) - Switzerland's glaciers suffered their second worst melt rate this year after record 2022 losses, shrinking their overall volume by 10% in the last two years, monitoring body GLAMOS said on Thursday. "This year was very problematic for glaciers because there was really little snow in winter, and the summer was very warm," Matthias Huss, who leads Glacier Monitoring Switzerland (GLAMOS), told Reuters. This year, low winter snowfall combined with an early start and a late end to the summer melt season dealt the heavy losses, GLAMOS said. "We are really losing the small glaciers," Huss said. Swiss records go back to at least 1960 and as far back as 1914 for some glaciers.

Persons: Denis Balibouse, GLAMOS, Matthias Huss, Huss, " Huss, Emma Farge, Timothy Gardner Organizations: REUTERS, Rights, Reuters, Thomson Locations: Obergoms, Switzerland, Swiss, Blanc's

☆ UBS shares briefly halted on report of growing U.S. probe over Russian sanctions
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +1 min

A UBS logo is seen next to Credit Suisse at the Bahnhofstrasse before a news conference of Swiss bank UBS in Zurich Switzerland, August 30, 2023. REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsLONDON, Sept 27 (Reuters) - Trading in UBS (UBSG.S) shares was briefly halted on Wednesday, after Bloomberg reported the Swiss bank and defunct rival Credit Suisse face a growing U.S. probe over alleged Russian sanctions evasion. UBS shares dropped as much as 7.9% by 1049 GMT, before being halted. Trading was reinstated at 1054 GMT and shares regained some ground, last down 4.2%. UBS shares are still up by nearly 50% since the four-month lows hit in late March, as it kicked off its emergency takeover of Credit Suisse, and are trading near their highest in 15 years.

Persons: Denis Balibouse, Lucy Raitano, John Revill, Amanda Cooper Organizations: UBS, Credit Suisse, Swiss, REUTERS, Bloomberg, Trading, Reuters, Thomson Locations: Zurich Switzerland, Swiss, London, Zurich

☆ Swiss to sell back Leopard II tanks to help restock after Ukraine donations
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +2 min

Recruits of the Swiss army Tank School 21 perform an attack exercise with the Leopard 2 tank in Bure, Switzerland May 5, 2023. REUTERS/Denis Balibouse Acquire Licensing RightsZURICH, Sept 27 (Reuters) - Germany has welcomed a decision by neutral Switzerland to open the way to sell back some of its German-made Leopard II tanks to help rebuild stocks depleted by aid to Ukraine. Germany had asked Switzerland in February to sell back some of the 96 Leopard II tanks it has in storage to manufacturer Rheinmetall AG (RHMG.DE). He was speaking after the Swiss parliament on Tuesday approved the decommissioning of 25 Leopard II tanks, paving the way for them to be resold to Germany. Buying Swiss weapons could become difficult unless Bern adjusts its law on war materials, German ambassador Fluegger said.

Persons: Denis Balibouse, Michel Fluegger, Fluegger, Viola Amherd, John Revill, Philippa Fletcher Organizations: Swiss army Tank, REUTERS, Rights, Leopard, Rheinmetall AG, NATO, Swiss, Leopard IIs, SRF, Thomson Locations: Bure, Switzerland, Germany, Ukraine, Berlin, Bern, Kyiv, Swiss, Denmark, Spain, Europe

☆ UBS, Credit Suisse face wider US probe over Russia sanctions -Bloomberg News
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +3 min

Logos of Swiss banks UBS and Credit Suisse are seen on an office building in Zurich, Switzerland March 19, 2023. UBS declined to comment to Reuters when asked for a response to the Bloomberg News report, which said the alleged compliance failures related to UBS and Credit Suisse, which was taken over by its larger rival UBS (UBSG.S) earlier this year. A full-scale investigation by the Department of Justice focusing mainly on Credit Suisse and potential sanctions violations was now underway, added the Bloomberg report, citing people familiar with the matter. "Credit Suisse has conducted a review of these issues, the UK and French aspects of which have been closed, and is continuing to cooperate with the authorities," UBS added. The Swiss bank has also adjusted its valuation of Credit Suisse by $3 billion to cover outflows related to contingent liabilities such as law suits.

Persons: Denis Balibouse, JP Morgan, Shivani Tanna, John Revill, Krishna Chandra Eluri, Emelia, Jane Merriman, Alexander Smith Organizations: UBS, Credit Suisse, REUTERS, Rights, U.S . Department of Justice, Bloomberg, Department of Justice, Justice, United, European Union, Suisse, DOJ, Credit, Thomson Locations: Zurich, Switzerland, United Nations, United States, Switzerland's, Britain, Netherlands, France, Belgium, Swiss, Ukraine, Crimea, Bengaluru

☆ UEFA set to reinstate Russian youth teams
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +2 min

Following the invasion, which Moscow calls a "special military operation", UEFA decided in February 2022 that all Russian teams - national or club sides - would be suspended from participation in their competitions. "The Executive Committee has asked the UEFA administration to propose a technical solution that would enable the reinstatement of the Russian U17 teams (both girls and boys) even when draws have already been held." UEFA added that Russian teams' matches would be played outside Russia and would not feature the country's flag, anthem or national kit. "... by banning children from our competitions, we not only fail to recognise and uphold a fundamental right for their holistic development but we directly discriminate against them," UEFA President Aleksander Ceferin said. Duka is head of Albania's soccer federation and has been a member of UEFA's Executive Committee since 2019.

Persons: Denis Balibouse, Aleksander Ceferin, Armand Duka, Luis Rubiales, Rubiales, Jenni Hermoso, Duka, Aadi Nair, Christian Radnedge Organizations: UEFA, Union of European Football Associations, REUTERS, Gazprom, Russian U17, Spanish Federation, UEFA's, Thomson Locations: Nyon, Switzerland, Ukraine, European, Limassol, Cyprus, Moscow, Russian, Russia, Bengaluru

MARTIGNY, Switzerland, Sept 26 (Reuters) - St. Bernard dogs, one of Switzerland's national symbols that were internationally renowned for helping in alpine rescues, are now saving people in other ways. "The dogs work in hospitals, in nursing homes with senior citizens. They are descendants of Barry I, a St. Bernard credited with saving the lives of more than 40 people on the Great St. Bernard Pass in the early 19th century. "They have a great sense of smell," said Anne Hölzer, in charge of training at Barry Foundation. "It's a very strong symbol of Switzerland," Zollinger said.

Persons: Bernard dogs, Bernard, Andrea Zollinger, Zollinger, Roxy van de Burggravehoeve, Barry, Denis Balibouse, Barry Foundation's, Roxy, Barry I, Napoleon, Anne Hölzer, Gabrielle Tétrault, Farber, Bernadette Baum Organizations: Barry Foundation, REUTERS, Thomson Locations: Switzerland, Swiss, Martigny, Italy, France, Bernard

☆ China urges countries to boycott Hong Kong media freedom event - document
▼ + stars: | 2023-09-26 | by ( Emma Farge | ) www.reuters.com time to read: +3 min

The flag alley at the United Nations European headquarters is seen during the Human Rights Council in Geneva, Switzerland, September 11, 2023. The event on Wednesday titled 'Media Freedom in Hong Kong' is being held on the sidelines of the five-week meeting of the U.N. Human Rights Council. Britain released a report this month saying that Hong Kong authorities have extended the application of a Beijing imposed national security law "beyond genuine national security concerns". China, one of the 47 members of the Geneva-based Human Rights Council and seeking re-election next month, has in the past sought to counter criticism of its human rights record. Reporting by Emma Farge; Additional reporting by Greg Torode and Jessie Pang in Hong Kong; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

Persons: Denis Balibouse, Sebastien Lai, Jimmy Lai, China's, Jimmy Lai's, Michelle Bachelet, Emma Farge, Greg Torode, Jessie Pang, Jacqueline Wong Organizations: United Nations, Human Rights, REUTERS, Rights, British, Reuters, Rights Council, Thomson Locations: Geneva, Switzerland, China, British, Hong Kong, United States, France, Germany, Britain, Beijing, Xinjiang

FILE PHOTO-Volker Turk, United Nations High Commissioner for Human Rights, attends the Human Rights Council at the United Nations in Geneva, Switzerland February 27, 2023. Hanoi police on Sept. 15 detained Ngo Thi To Nhien, Executive Director of the Vietnam Initiative for Energy Transition (VIET), an independent think tank focused on green energy policy, Reuters reported last week citing a charity and a source. Nhien had worked for the World Bank, with the United Nations Development Programme and the United States aid agency (USAID), according to her profile on LinkedIn. She "has participated in international and national events, including consultations organized by UNDP on the topic of energy transition," the UNDP in Vietnam confirmed in an email message to Reuters. Phil Robertson, Deputy Asia Director at Human Rights Watch, said Manh had a strong alibi which was disregarded.

Persons: Volker Turk, Denis Balibouse, U.N, Joe Biden, Ngo Thi, Nhien, Le Van Manh, Phil Robertson, Manh, Francesco Guarascio @fraguarascio, Michael Perry Organizations: United Nations, Human Rights, REUTERS, Rights, Vietnam Initiative for Energy, Reuters, UN, World Bank, USAID, LinkedIn, UNDP, European, Asia, Thomson Locations: Geneva, Switzerland, Rights HANOI, Hanoi, United States, Vietnam

☆ Russia tortured some Ukrainian victims to death, UN inquiry says
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Denis Balibouse Acquire Licensing RightsGENEVA, Sept 25 (Reuters) - Russia's torture methods in parts of Ukraine it occupied have been so brutal that it tortured some of its victims to death, the head of a U.N.-mandated investigative body said on Monday. "In some cases, torture was inflicted with such brutality that it caused the death of the victim," he said. Møse's commission visited parts of Ukraine formerly held by Russian forces such as in Kherson and Zaporizhzhia regions. The commission has previously said that violations committed by Russian forces in Ukraine, including the use of torture, may constitute crimes against humanity. Russia was given an opportunity to respond to the allegations at the council hearing but no Russian representative attended.

Persons: Jasminka Dzumhur, Erik Mose, Pablo de Greiff, Denis Balibouse, Erik Møse, Møse's, Emma Farge, Peter Graff Organizations: Independent International Commission of, United Nations, REUTERS, Rights, Human Rights, Russian, Thomson Locations: Ukraine, Geneva, Switzerland, Russian, Kherson, Zaporizhzhia, Russia

☆ Newcomers fire as Team World make strong start to Laver Cup defence
▼ + stars: | 2023-09-23 | by ( ) www.reuters.com time to read: +2 min

Tennis - Laver Cup - Palexpo, Geneva, Switzerland - September 20, 2019 General view of the Laver Cup trophy before the start of play REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsSept 22 (Reuters) - Defending champions Team World took a 4-0 lead over Team Europe on the opening day of the Laver Cup in Vancouver on Friday, as Ben Shelton, Francisco Cerundolo and Felix Auger-Aliassime all won their singles matches. Argentine Cerundolo claimed his first point for Team World with a 6-3 7-5 victory over Alejandro Davidovich Fokina. There's a lot of energy," Team World captain John McEnroe said. Home favourite Felix Auger-Aliassime made it a hat-trick of singles wins for Team World with a 6-4 6-3 victory over French veteran Gael Monfils in the evening session. The first team to reach 13 points will lift the Laver Cup.

Persons: Denis Balibouse, Ben Shelton, Francisco Cerundolo, Felix Auger, Aliassime, golf's, Roger Federer, Rafa Nadal, Novak Djokovic, Shelton, Arthur Fils of, Federer, it's, Argentine Cerundolo, Alejandro Davidovich Fokina, We've, John McEnroe, we've, Gael Monfils, Frances Tiafoe, Tommy Paul, Europe's Fils, Andrey Rublev, Shrivathsa Sridhar, William Mallard, Peter Rutherford Organizations: Laver, REUTERS, Team Europe, Rogers, Team, Thomson Locations: Geneva, Switzerland, Vancouver, Arthur Fils of France, Argentine, Bengaluru

☆ Ukraine war expected to have bigger impact on European economies - Swiss study
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

The Swiss National Bank (SNB) building is seen near the Limmat river in Zurich, Switzerland March 23, 2023. Since Russia invaded Ukraine in February 2022, Europe has seen a surge in energy prices, financial market turmoil and a sharp contraction in the economies of both Russia and Ukraine, the report said. "The negative consequences of the war are likely to be far greater in the medium-to-long term, especially with regard to the real economy," the study said. France would have seen inflation 0.3% lower and GDP 0.1% higher without the conflict, while Italian inflation would have been 0.2% lower and GDP 0.3% higher. Swiss GDP would have been 0.3% higher and inflation 0.4% lower without the war, the study added.

Persons: Denis Balibouse, John Revill, Alex Richardson, Gareth Jones Organizations: Swiss National Bank, REUTERS, Rights, Thomson Locations: Zurich, Switzerland, Ukraine, Russia, Europe, Germany, Britain, France, Italy, Swiss

[1/2] Logos of Swiss banks Credit Suisse and UBS are seen before a news conference in Zurich Switzerland, August 30, 2023. Credit Suisse, which was Switzerland's second-biggest bank, suffered years of scandals and losses before it had to be rescued in March in a state-engineered takeover by UBS. Credit Suisse declined to comment. Spokespeople for central banks in South Korea, India, Ireland, and Saudi Arabia also did not immediately respond to Reuters requests for comment. Last month, a Moscow court banned UBS and Credit Suisse from disposing of shares in their Russian subsidiaries, Reuters reported, citing court documents.

Persons: Denis Balibouse, Laws, Engen Tham, Selena Li, Jihoon Lee, Alexander Marrow, Sumeet Chatterjee, Stephen Coates, Alexander Smith Organizations: Credit Suisse, UBS, REUTERS, Rights, Reuters, Suisse, Western, Thomson Locations: Zurich Switzerland, Rights SHANGHAI, HONG KONG, South Korea, India, Swiss, Ireland, Saudi Arabia, Russia, Moscow, Ukraine, Bahrain, Dubai, Abu Dhabi, Japan, Thailand, Turkey, Shanghai, Hong Kong, London

☆ UBS cuts nearly 70% Credit Suisse researchers in Hong Kong-sources
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +2 min

Logos of Swiss banks Credit Suisse and UBS are seen before a news conference in Zurich Switzerland, August 30, 2023. UBS' takeover of Credit Suisse, the biggest bank merger since the 2008 global financial crisis, was hastily arranged in March this year by Swiss authorities to avert Credit Suisse's collapse. More than 15 equity researchers were notified earlier this week about the layoffs in Hong Kong, the sources said, adding less than 10 researchers focusing on Hong Kong and China equities will join the UBS team. Credit Suisse did not respond to a Reuters request for comments. Both of them will bring some junior researchers from Credit Suisse, the sources added.

Persons: Denis Balibouse, Charles Zhou, China financials, Kenneth Fong, Zhou, Fong, Sergio Ermotti, Julie Zhu, Kane Wu, Selena Li, Summer Zhen, Sumeet Chatterjee, Bernadette Baum, Emelia Organizations: Credit Suisse, UBS, REUTERS, Credit, Suisse's Securities Research, Reuters, Monday, Asia, China Internet, Thomson Locations: Zurich Switzerland, HONG KONG, Hong Kong, China, Asia Pacific, Asia, Swiss

[1/2] Logos of Swiss banks Credit Suisse and UBS are seen before a news conference in Zurich Switzerland, August 30, 2023. UBS completed its takeover of Credit Suisse in June. UBS and Credit Suisse did not respond to Reuters request for comment. Spokespeople for central banks in South Korea, India, Ireland, and Saudi Arabia also did not immediately respond to Reuters request for comment. In the review document, UBS said "a single non-cooperative regulator can jeopardize the timeline of the parent bank merger and other transactions", impacting other related integration deals.

Persons: Denis Balibouse, Engen Tham, Selena Li, Sumeet Chatterjee, Stephen Coates Organizations: Credit Suisse, UBS, REUTERS, Rights, UBS Group AG, Reuters, Thomson Locations: Zurich Switzerland, Rights SHANGHAI, HONG KONG, South Korea, India, Ireland, Saudi Arabia, Swiss, Shanghai, Hong Kong

☆ Lonza’s CEO churn adds to company’s ailments
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Denis Balibouse Acquire Licensing RightsLONDON, Sept 18 (Reuters Breakingviews) - Lonza’s (LONN.S) new broom will face even more challenges than its old one. Since he was appointed CEO in 2020, the Swiss group has increased capital expenditure as a percentage of revenue from 20% to 30% last year. Even before Monday’s fall, the stock was trading at 32 times its forward earnings, around the same level as before its pandemic surge. The disruption of another CEO exit, without a clear explanation, means that the hoped-for growth will take even longer to arrive. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Denis Balibouse, Pierre, Alain Ruffieux, Albert Baehny, Aimee Donnellan, Neil Unmack, Streisand Neto Organizations: REUTERS, Reuters, Swiss, X, Thomson Locations: Lonza, Visp, Switzerland, Swiss

☆ Credit Suisse bond investors plot lawsuit against Switzerland, Financial Times reports
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +1 min

The logos of Swiss bank Credit Suisse and UBS are seen in Geneva, Switzerland, June 7, 2023. REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsCompanies UBS Group AG FollowSept 15 (Reuters) - A group of international bond investors is drawing up plans to sue Switzerland in the U.S. courts for expropriation over the losses they suffered after UBS (UBSG.S) agreed to take over Credit Suisse with state support, the Financial Times reported. In essence, the claim would be seeking compensation for the destruction of [investors'] property rights, a person with knowledge of the plans told FT.Quinn Emanuel and Credit Suisse declined to comment. Quinn Emanuel is already suing Switzerland's financial regulator, FINMA, after the state-assisted rescue of Credit Suisse in March wiped out the Swiss bank's 16 billion Swiss franc ($17.85 billion) Additional Tier 1 (AT1) bondholders. ($1 = 0.8963 Swiss francs)Reporting by Gursimran Kaur in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

Persons: Denis Balibouse, Quinn Emanuel, Gursimran Kaur, Shilpi Majumdar Organizations: Credit Suisse, UBS, REUTERS, UBS Group, Financial Times, Reuters, Thomson Locations: Geneva, Switzerland, U.S, Bengaluru

☆ World champion Lyles to take 'victory lap' in Eugene, Oregon
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +2 min

Lyles earlier this month said he was ending his season after becoming the first male athlete since Jamaican Usain Bolt to win gold in the 100m, 200m and 4x100m relay. "Every meet that happens after world championships I see almost as a victory lap," Lyles told reporters ahead of the Prefontaine Classic Diamond League final, where he will compete in the 100m on Saturday. "A lot of people will get tired and they don't really want to go to track meets and I'm like, it doesn't matter if you win or lose now because you already won world championships. "We've got to treat this like our victory parade, like when other teams go back to their city and they celebrate. The Prefontaine Classic runs Sept. 16-17 at Hayward Field in Eugene, Oregon.

Persons: Noah Lyles, Denis Balibouse, Bolt, Lyles, Sydney McLaughlin, Sydney, We've, Rory Carroll, Diane Craft Organizations: Diamond League, Prefontaine, Tokyo Olympics, Tokyo Olympic, Hayward Field, Thomson Locations: Letzigrund, Zurich, Switzerland, Eugene , Oregon, Budapest, Lyles, Los Angeles

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