DIRS.INFO The most relevant business & tech news

☆ Morgan Stanley CEO and chairman James Gorman on Basel III readiness
▼ + stars: | 2023-11-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMorgan Stanley CEO and chairman James Gorman on Basel III readinessMorgan Stanley will be able to cope with "any form" of the Basel III "end game," says chairman and chief executive James Gorman.

Persons: Morgan Stanley, James Gorman Organizations: Basel III Locations: Basel

☆ ECB backs global rules for bonds wiped out in Credit Suisse rescue
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +2 min

A view shows the logo of the European Central Bank (ECB) outside its headquarters in Frankfurt, Germany March 16, 2023. REUTERS/Heiko Becker//File Photo Acquire Licensing RightsFRANKFURT, Nov 16 (Reuters) - The European Central Bank's chief supervisor on Thursday supported creating global standards for convertible bonds that were wiped out as part of Credit Suisse's rescue by rival UBS (UBSG.S) earlier this year. The Basel Committee said in a report last month it would review the features of AT1 bonds, including the "loss-absorbing hierarchy". But Credit Suisse's bonds contained a clause allowing authorities the write down those bonds without winding down the bank. This clause is not a feature in bonds issued by European Union banks and the ECB has made clear that it would impose losses on shareholders first.

Persons: Heiko Becker, Andrea Enria, Enria, Pablo Hernández de Cos, Francesco Canepa, Balazs Koranyi, Toby Chopra Organizations: European Central Bank, REUTERS, Rights, Central Bank's, UBS, ECB, Banking Supervision, Basel, Committee, European Union, Thomson Locations: Frankfurt, Germany, Swiss, Basel

☆ Late Israel equaliser puts Swiss Euro 2024 qualification on ice
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +2 min

The unbeaten Swiss moved top of Group I, with 16 points from eight matches, but only ahead of Romania on goal difference. Israel are third on 12 points with all three countries having two games left. Vargas came within inches of doubling his tally five minutes after his goal when he thundered a shot off the crossbar. As a result, Israel play four games in the space of nine days to complete their qualifying campaign. The Swiss face Kosovo in Basel on Saturday and then complete their campaign away in Romania on Tuesday.

Persons: Israel, Shon Weissman's, Ruben Vargas, Edimilson Fernandes, Weisman’s, Fernandes, Noah Okafor, Vargas, Sean Goldberg, Dor Turgeman’s, Turgeman, Yann Sommer, Mark Gleeson, Toby Davis Organizations: European Championship, Kosovo, Swiss, Palestinian, Hamas, Romania, Puskas Academy Arena, Thomson Locations: FELCSUT, Hungary, Switzerland, Germany, Swiss, Romania, Israel, Kosovo, Budapest, Andorra, Basel, Cape Town

☆ EU loophole lets banks dodge ECB's crypto supervision, needs fixing -Enria
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +3 min

He warned the EU's framework placed banks' activity as a 'crypto-asset service provider' -- such as acting as a custodian for customer wallets, exchanging tokens or managing crypto portfolios -- outside of the ECB's purview as a banking supervisor. "In fact, if crypto-asset service providers controlled by banks are not within the scope of their prudential consolidation, the BCBS standard and especially the exposure limit may become ineffective." He added crypto asset service providers should be added "as a matter of urgency" to the list of financial institutions that the ECB supervises under EU rules. MiCAR entered into force at the end of June and will take full effect by the end of next year. The Basel Committee's global standards on exposures to crypto assets are due to be transposed into EU law by Jan. 1, 2025.

Persons: Dado Ruvic, Andrea Enria, Enria, MiCAR, Jan, Claudia Buch, Francesco Canepa, Susan Fenton Organizations: REUTERS, Rights, Central Bank's, Banking, ECB, prudential, EU, Thomson Locations: EU, Venice, Basel

REUTERS/Evelyn Hockstein/ Acquire Licensing RightsWASHINGTON, Nov 14 (Reuters) - The Federal Reserve's top Wall Street cop Michael Barr and other bank regulators will defend plans to hike U.S. bank capital requirements when they appear before Congress this week as they come under increasing pressure from many lawmakers to rein in their efforts. The proposal would overhaul how banks gauge risk and, in turn, how much capital they must hold against potential losses. Regulators say stronger cash cushions will make the financial system safer and are especially crucial after three banks failed earlier this year. As part of their campaign to kill the Basel proposal, banks have been lobbying lawmakers to put pressure on the regulators. On Monday, 39 Senate Republicans stepped up the pressure, asking the regulators to scrap the proposal, citing economic harm.

Persons: Michael Barr, Evelyn Hockstein, Barr, Federal Deposit Insurance Corporation's Martin Gruenberg, Mike Hsu, Mark Warner of Virginia, Jon Tester, Isaac Boltansky, Gruenberg, Michelle Price, Pete Schroeder, Jonathan Oatis Organizations: Banking, Housing, Urban Affairs Committee, Capitol, REUTERS, Rights, Federal, Federal Deposit Insurance, Financial, Democrat, Senate, Republicans, Journal, Industrial, Commercial Bank of China, Treasury, Thomson Locations: Washington , U.S, U.S, Basel, Montana

☆ ATP Finals: Carlos Alcaraz beaten by Alexander Zverev on tournament debut
▼ + stars: | 2023-11-14 | by ( Matias Grez | ) edition.cnn.com time to read: +3 min

CNN —Carlos Alcaraz suffered defeat on his ATP Finals debut on Monday, as Alexander Zverev battled back from a set down to win 6-7 (3-7) 6-3 6-4. “It’s the only tournament where a loss does not knock you out,” Alcaraz said, per the ATP. At the end of the second set and the start of the third, I hit three or four shots out straight away. “I watch Novak, for example, and he doesn’t give anything away straight away. My consistency was really lacking against Zverev.”Alcaraz hadn’t played since that shock defeat Safiullin on October 31 after being forced to withdraw from an ATP tournament in Basel with foot and back injuries.

Persons: CNN — Carlos Alcaraz, Alexander Zverev, Grigor Dimitrov, Roman Safiullin, Alcaraz, Andrey Rublev, “, ” Alcaraz, Novak, Alcaraz hadn’t, Safiullin, Clive Brunskill, he’s, “ It’s, ”, ” Zverev, Zverev, Daniil Medvedev Organizations: CNN, ATP, Shanghai, Paris, Zverev Locations: Turin, Italy, Basel, China, Germany, Paris

Companies United States Senate FollowWASHINGTON, Nov 13 (Reuters) - A group of 39 Senate Republicans in a letter on Monday called on major U.S. banking regulators to withdraw a contentious proposal to significantly raise bank capital requirements, warning it could hinder lending and harm the economy. Regulators said stronger cushions will guard against future unforeseen risks, and cited the failures earlier this year of three large U.S. lenders as a warning. * Regulators have said they are continuing to gather data for the proposal, and have given firms more time to provide feedback. * Senator Tim Scott, the top Republican on the Senate Banking Committee and a former presidential candidate, and Senate Minority Leader Mitch McConnell were among the senior Republicans in the chamber to sign Monday's letter. WHAT'S NEXTU.S. banking regulators are due to testify before the Senate Banking Committee on Tuesday, when they are expected to be pressed on the proposal by Republicans.

Persons: Banks, Tim Scott, Mitch McConnell, Pete Schroeder, Paul Simao, Jonathan Oatis Organizations: United States, WASHINGTON, Republicans, Federal Reserve, Federal Deposit Insurance Corporation, Currency, Regulators, Republican, Senate Banking Committee, Fed, OCC, NEXT, Thomson Locations: Basel

☆ The top Christmas markets for 2024
▼ + stars: | 2023-11-12 | by ( Tamara Hardingham-Gill | ) edition.cnn.com time to read: +22 min

Basel Christmas Market, SwitzerlandBasel Christmas Market is made up of decorated stalls selling Christmas spices, decorations and candles. Strasbourg Christmas Market, FranceOne of Europe’s oldest Christmas markets, Strasbourg began back in 1570, but it’s evolved considerably since then. Old Town Square and Wenceslas Square Christmas markets, Prague, Czech RepublicTo say the city of Prague goes all out at Christmas is something of an understatement. Skansen’s Christmas Market, StockholmStockholm isn’t exactly lacking when it comes to Christmas markets, but none are more traditional than Skansen. St. Stephen’s Basilica and Vörösmarty Square markets, Budapest, HungaryBudapest has two main festive markets: St. Stephen’s Basilica Christmas market, or Advent Bazilika, and Vörösmarty Square Christmas market.

Persons: Wiener, Wiener Christkindlmarkt, it’s, Kleber, Laia Ros, Wenceslas, Santa Llucia, Mercati Natale, Piazza Santa, there’s, you’ll, Walt Disney, Lucia’s, Tuomaan, Emperor Alexander II, Santa Claus, Bazilika, Germany Gendarmenmarkt, Massimo Borchi, Dom, Deutscher Dom, Bavaria’s, Gendarmenmarkt, Jeff J Mitchell, Scott, Dominika, Glowny, Adam Mickiewicz, Steve Russell, Colin Miller, Manhattan’s, Josephine Shaw Lowell Fountain Organizations: CNN, City Hall, Basel, Switzerland Basel Christmas, Getty, Belgium’s, Bourse, Monnaie, Sainte, Marche aux Poissons, Fira, Barcelona Cathedral, Santa, Cisco Pelay, Piazza Santa Croce, Santa Croce, Tivoli Gardens, Estonia Estonia's, Markkinat, Vörösmarty, Nuremberg, Hyde, London Hyde, Food, Edinburgh, Scotland Scottish, Street Gardens, Scottish, Street, Edinburgh Castle, Andrew, George, East, Poland Krakow Christmas, Bratislava, Slovakian, Distillery, Toronto Star, Toronto, Distillery District, , New York Skaters, Bank of America, The Bank of America, Christkindlmarket Chicago, Daley, RiverEdge, Christkindlmarket Locations: Vienna, Germany, Switzerland, Singapore, New York, Austria, Barfüsserplatz, St, Basel, Strasbourg, France, Belgium, Brussels, Sainte Catherine, Marche, Belgian, Place, Prague, Czech Republic, Czech, Old, Santa Llucia, Barcelona, Santa, Florence, Italy, Heidelberg, Piazza del, Zagreb, Croatia, Advent, Tivoli , Copenhagen, Denmark, Danish, Tivoli, Tallinn, Estonia, Estonia Estonia's Tallinn, Estonian, Stockholm Stockholm, Djurgarden, Skansen’s, Tuomaan Markkinat, Helsinki, Ryhor, Helsinki’s, Stephen’s, Budapest, Hungary Budapest, Gendarmenmarkt, Capital, Berlin, Nuremberg, London, United Kingdom, Christmas, Edinburgh, Krakow, Poland Krakow, Polish, Europe, Mary’s, Slovakia, Bratislava, Bay, Toronto, Distillery, Bryant, , New, Manhattan’s Bryant, Chicago, Windy City, Aurora

Israeli strikes hit near hospitals in Gaza City as the military pushed deeper into dense urban neighborhoods in its battle with Hamas militants. The number of Palestinians killed in the war has risen to over 10,800, including more than 4,400 children, the Hamas-run Health Ministry in Gaza said. In the occupied West Bank, more than 160 Palestinians have been killed in the violence and Israeli raids. Basel Zalabani, Mohammed’s father, said that Israeli forces had arrested him and his other 18-year-old son Yazan ahead of the demolition. Since the Hamas attack on Israel on Oct. 7, at least five Romanian citizens have been confirmed killed.

Persons: Gaza’s, Marine Le, JERUSALEM, Mohammed’s, Yazan, ”, Australia — Francesca Albanese, Israel, ” Albanese, “, they'll, ” CloudFlare, NETANYAHU, ISRAEL, Benjamin Netanyahu, Netanyahu, “ Writers Bloc ” Organizations: Hamas, Nations, Ministry, West Bank, —, United States Office, Palestinian Affairs, Bank, Basel, UN, won’t, Romania — Romania’s Ministry of Foreign Affairs, United Arab Emirates, UNITED, . Development, Social Commission, West, Fox News, The New York Times, “ Writers Bloc, New York Times, The Associated Press, of Liberty and Grand Locations: Gaza City, Gaza’s, Israel, Gaza, Hungary, israel, ISRAEL, Jerusalem, West, Jenin, ADELAIDE, Australia, Adelaide, GAZA BUCHAREST, Romania, Egypt, Rafah, Cairo, Bucharest, YEMEN, DUBAI, United Arab, Yemen, YemenNet, Saudi, Red City, Hodeida, Syria, Ukraine, West Asia, Palestinian, GAZA Israeli, deradicalized, Manhattan, New York

☆ ATP roundup: Alexander Shevchenko advances to Metz semifinals
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +1 min

Shevchenko overcame a 10-3 disadvantage in aces by converting two of three break points, to 0-for-3 for Khachanov. Shevchenko advanced to the semifinals Friday against wild card Pierre-Hugues Herbert, who outlasted fellow Frenchman Luca Van Assche 4-6, 6-3, 7-5 on Thursday. Sofia OpenSecond seed Adrian Mannarino and third seed Jan-Lennard Struff avoided upsets with three-set victories Thursday in the quarterfinals in Bulgaria. Mannarino of France eliminated seventh seed Sebastian Ofner of Austria 6-7 (7), 6-4, 6-3. Mannarino advanced to the semifinals Friday against Russia's Pavel Kotov, who defeated eighth seed Marton Fucsovics of Hungary 6-3, 7-6 (3).

Persons: Russia's Alexander Shevchenko, Canada's Felix Auger Aliassime, Pierre Albouy, Alexander Shevchenko, Karen Khachanov, Shevchenko, Pierre, Hugues Herbert, Frenchman Luca Van Assche, Ugo Humbert, Frenchman Harold Mayot, Lorenzo Sonego, Fabio Fognini, Adrian Mannarino, Lennard Struff, France, Sebastian Ofner, Germany's Struff, Hungary's Fabian Marozsan, Struff, Great, Jack Draper, Lorenzo Musetti, Cem Ilkel, Mannarino, Russia's Pavel Kotov, Marton Organizations: Swiss, Basel, Canada's Felix Auger Aliassime REUTERS, Khachanov, Sofia, Thomson Locations: Jakobshalle, Basel, Switzerland, Metz, France, Italy, Bulgaria, Mannarino, Austria, Turkey, Marton Fucsovics, Hungary

☆ Agrochemicals group Syngenta indicates $10 bln IPO likely next year
▼ + stars: | 2023-11-09 | by ( John Revill | ) www.reuters.com time to read: +2 min

A logo is seen at the headquarters of agricultural chemical maker Syngenta in Basel, Switzerland January 30, 2020. "Given weak market conditions we expect that the company will IPO by the end of next year," a company spokesman said on Thursday after Syngenta reported its Q3 earnings. The IPO update came as Syngenta, which competes with U.S. company Corteva (CTVA.N) and German firms BASF (BASFn.DE) and Bayer (BAYGn.DE), reported its latest earnings. Syngenta, which recently announced a change of chief executive and chief financial officer, has been pursuing an IPO for nearly two and half years. Syngenta was bought by ChemChina in 2017 for $43 billion and folded it into Sinochem Holdings Corp in 2021.

Persons: Arnd, Syngenta, John Revill, Kirsti Knolle, Robert Birsel Organizations: Syngenta, REUTERS, Rights, U.S, BASF, Bayer, Shanghai Stock Exchange, ChemChina, Sinochem Holdings Corp, Thomson Locations: Basel, Switzerland, Swiss, Brazil

☆ Banks should slow deposit withdrawals, prepare better collateral to evade crises - SNB
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +3 min

"Liquidity assistance alone would not have resolved thecrisis," he said, adding that other measures like the eventual state-brokered takeover by rival Swiss bank UBS (UBSG.S) were needed. This limited the level of cash that could be offered via the Emergency Liquidity Assistance scheme (ELA), the SNB's usual tool as lender of last resort. Additional money was provided for Credit Suisse via the Emergency Liquidity Assistance (ELA+), which provided cash secured only by preferential rights if Credit Suisse went bankrupt rather than against collateral. In future, Schlegel said improved preparation of collateral was needed by banks to allow them to better access emergency funding through existing schemes. "ELA+ was necessary in the specific case of Credit Suisse, but it is not a model for managing future crises," Schlegel said.

Persons: Banks, Martin Schlegel, Schlegel, ELA, John Revill, Sharon Singleton Organizations: Credit, Credit Suisse, Reuters, Swiss National Bank, UBS, Thomson Locations: ZURICH, Basel, Swiss

☆ Banking chiefs say market vulnerable to 'geopolitical escalation', regulatory push
▼ + stars: | 2023-11-07 | by ( Selena Li | ) www.reuters.com time to read: +3 min

[1/3] UBS Chairman Colm Kelleher looks on during the Global Financial Leaders' Investment Summit, in Hong Kong, China November 7, 2023. REUTERS/Tyrone Siu Acquire Licensing RightsHONG KONG, Nov 7 (Reuters) - Top global banking chiefs on Tuesday said they are concerned the financial sector's next crisis may come from rising geopolitical uncertainty which could test financial market resiliency, while the industry remains vulnerable to regulatory tightening. The trigger for the next global financial crisis is likely to come from the geopolitical or political space, said Morgan Stanley (MS.N) Chairman and CEO James Gorman. Gorman was among more than a dozen top executives of international firms speaking at the Global Financial Leaders Investment Summit hosted by the Hong Kong Monetary Authority. REGULATION "WAY TOO FAR"The global banking bosses also took the stage of the Asia summit to voice their concerns in an unusually aggressive joint effort to push back on a set of stricter banking rules.

Persons: Colm Kelleher, Tyrone Siu, Morgan Stanley, MS.N, James Gorman, Gorman, " Gorman, Christian, Goldman Sachs, David Solomon, Solomon, Morgan Stanley's Gorman, Selena Li ， Kane Wu, Xie Yu, Scott Murdoch, Summer, Tom Hogue, Christopher Cushing, Lincoln Organizations: UBS, Global Financial, Investment, REUTERS, Tyrone, Investment Summit, Hong Kong Monetary Authority, Deutsche Bank, Christian Sewing, UBS Group, Thomson Locations: Hong Kong, China, HONG KONG, Israel, Gaza, Russia, Ukraine, Asia, U.S

☆ No goal of month winner for Basel after horror-show October
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +1 min

Oct 31 (Reuters) - Swiss club Basel's season has gone from bad to worse since it began in July, and with no goals scored in October, they were unable to announce a goal of the month winner on Tuesday. With four defeats from four games in October, Basel conceded 10 goals and scored none, which led to the club posting a photo of a goal net and a caption which read "No goals in October = No goal of the month" on their social media accounts. The club are currently bottom of the Swiss league, with just one win in 11 games, and were also knocked out of the Europa Conference League in the second qualifying round by FC Tobol of Kazakhstan. The game should, they will hope, give them a decent chance of at least having some goals to choose from for November's goal of the month award. Reporting by Trevor Stynes Editing by Christian RadnedgeOur Standards: The Thomson Reuters Trust Principles.

Persons: Heiko Vogel, Fabio Celestini, Trevor Stynes, Christian Radnedge Organizations: Swiss, Europa Conference League, FC Tobol, Conference League, Basel, SC Kriens, Thomson Locations: Basel, Kazakhstan, It's

☆ ECB's Enria says reforming some banks is 'disappointingly slow'
▼ + stars: | 2023-10-30 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

LONDON, Oct 30 (Reuters) - The European Central Bank has made "disappointingly slow" progress in tackling core issues at some banks it supervises, while too little integration in the sector remains a "dangerous fault line," ECB top banking supervisor Andrea Enria said on Monday. "But a failure to tackle weaknesses that have been identified could lead to existential threats for banks, as we saw at Credit Suisse and some US regional banks in the Spring of 2023," he added. More cross-border consolidation among banks would put the sector on a stronger footing, but there is a lack of support for this from EU states, he said. But if the system breaks down again, repairing it could prove to be very difficult and expensive." Reporting by Huw Jones; Editing by Chris Reese and Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrea Enria, Enria, Huw Jones, Chris Reese, Hugh Lawson Organizations: European Central Bank, ECB, Credit Suisse, Silicon Valley Bank, Federal Reserve, Basel Committee, London School of Economics, Thomson Locations: Silicon, Basel

☆ ATP roundup: Top seed Holger Rune squeaks into Basel semis
▼ + stars: | 2023-10-27 | by ( ) www.reuters.com time to read: +1 min

1 seed Holger Rune of Denmark got past Argentina's Tomas Martin Etcheverry 6-1, 3-6, 7-6 (6) Friday to reach the semifinals of the Swiss Indoors Basel. But on the 13th point, Rune hit a dead netcord for a flukey, if fortunate, point. Hurkacz rallied past Dutch opponent Tallon Griekspoor 6-7 (6), 6-4, 6-4, while Humbert beat Swiss wild card Dominic Stricker 6-4, 2-6, 6-2. 1 seed Daniil Medvedev of Russia needing three sets to beat countryman and eighth seed Karen Khachanov 6-3, 3-6, 6-3 in the quarters. 2 seed Jannik Sinner of Italy won 32 of 38 first-service points (84.2 percent) to beat seventh-seeded American Frances Tiafoe 6-3, 6-4.

Persons: Holger Rune, Denmark, Argentina's Tomas Martin Etcheverry, Rune, Felix Auger, Alexander Shevchenko, Hubert Hurkacz, Ugo Humbert of France, Hurkacz, Tallon Griekspoor, Humbert, Dominic Stricker, Daniil Medvedev, Karen Khachanov, Medvedev, Stefanos Tsitsipas, Croatia's, Italy, Frances Tiafoe, Andrey Rublev, Alexander Zverev Organizations: Swiss Indoors Basel, Russian, Swiss, Erste Bank, Thomson Locations: Canadian, Poland, Vienna

☆ ATP roundup: Andrey Rublev wins in Vienna, lands Finals spot
▼ + stars: | 2023-10-27 | by ( ) www.reuters.com time to read: +2 min

Rublev had 21 winners against six unforced errors while reaching the Finals for the fourth straight year. Arnaldi had 19 winners and 11 unforced errors. Croatian wild card Borna Gojo had 22 winners and five unforced errors while upsetting sixth-seeded Tommy Paul 6-3, 6-4. Shevchenko, from Russia, had 40 winners and just eight unforced errors while outlasting third-seeded Taylor Fritz 6-7 (7), 7-6 (6), 7-6 (5). Griekspoor of the Netherlands need just 84 minutes to complete a 6-4, 6-3 win over Australia's Alex de Minaur, the No.

Persons: Andrey Rublev, Russia's Daniil Medvedev, Brendan Mcdermid, Italy's Matteo Arnaldi, Rublev, Arnaldi, Daniil Medvedev, Medvedev, Bulgaria's Grigor Dimitrov, Sinner, Lorenzo Sonego, Gojo, Tommy Paul, Tsitsipas, Tomas Machac, Frances Tiafoe, France's Gael Monfils, Basel Dominic Stricker, Alexander Shevchenko, Tallon Griekspoor, Ugo Humbert, Casper Ruud of Norway, Taylor Fritz, Alex de Minaur, France's Humbert, Nicolas Jarry of, Holger Rune, Argentina's Sebastian Baez, Felix Auger, Botic van de Zandschulp Organizations: Russia's, Russia's Daniil Medvedev REUTERS, Erste Bank, France's Gael, Swiss, Basel, Shevchenko, Denmark, Thomson Locations: Flushing Meadows , New York, United States, Vienna, Croatian, Czech Republic, Switzerland, Stricker, Russia, Netherlands, Nicolas Jarry of Chile, Canada

☆ ATP roundup: Daniil Medvedev headlines day of sweeps at Vienna
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +2 min

Overall, Medvedev won 28 of 31 first-service points while collecting 16 winners against just three unforced errors. Sinner topped American Ben Shelton 7-6 (2), 7-5; Gojo ousted Russia's Aslan Karatsev 6-3, 6-3; and Monfils downed Daniel Altmaier of Germany 6-4, 6-4. In second-round action, fifth-seeded German Alexander Zverev downed Great Britain's Cameron Norrie 6-2, 6-4, while No. Swiss Indoors BaselArgentina's Tomas Martin Etcheverry rallied to beat Andy Murray of Great Britain 6-7 (5), 6-3, 6-2 in a second-round match at Basel, Switzerland. 4 seed Hurbert Hurkacz of Poland also won his second-round match, sweeping German Jan-Lennard Struff 6-1, 6-4.

Persons: Russia's Daniil Medvedev, Sebastian Korda, Aly, Daniil Medvedev, Frenchman Arthur Fils, Fils, Medvedev, Italy, Borna Gojo, Gael Monfils, Sinner, Ben Shelton, Gojo, Russia's Aslan Karatsev, Monfils, Daniel Altmaier, Alexander Zverev, Britain's Cameron Norrie, Karen Khachanov, Jiri Lehecka, Basel Argentina's Tomas Martin Etcheverry, Andy Murray of, Etcheverry, Murray, Lennard, Casper Ruud, Taylor Fritz, Felix Auger, France's Ugo Humbert Organizations: Shanghai, Sports City Arena, U.S, REUTERS, Erste Bank, Swiss, Basel Argentina's, Thomson Locations: Shanghai, China, Vienna, Croatian, Germany, Russia, Czech, Andy Murray of Great Britain, Basel, Switzerland, Poland

☆ Mark Rothko at Full Scale, and in Half Light
▼ + stars: | 2023-10-25 | by ( Jason Farago | More About Jason Farago | ) www.nytimes.com time to read: +1 min

Melt the world away, lose its details, dissolve its borders; it doesn’t sound like such an unwelcome prospect right now. The most substantial Mark Rothko retrospective in a generation has opened at the Fondation Louis Vuitton, and it is a show of monumental dispersion: a pull-out-all-the-stops blockbuster where life passes into vapor. From 1949, when his early figurative pictures finally liquefied into stains of translucent color, Rothko painted with no allusions, no particulars. A lot of people find his large paintings consoling, or seek the Romantic sublime in the depths of his reds and violets. “Behind the color lies the cataclysm,” he said in 1959 — a citation that rarely makes the auction preview catalogs.

Persons: Rothko, Fondation Louis Vuitton, ”, it’s, Frank Gehry Organizations: Fondation, Art Basel, National Gallery of Art, Whitney, Fondation Vuitton, Boulogne Locations: Paris, Washington, New York, Bois

☆ ATP roundup: Top seed Holger Rune rallies in Basel
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +2 min

1 seed Holger Rune of Denmark bounced back from a rough first set to beat Serbia's Miomir Kecmanovic 1-6, 7-5, 6-3 in first-round action at the Swiss Indoors Basel on Tuesday. Rune overcame four double faults and 15 unforced errors by winning 30 of his 43 first-service points (69.8 percent). 4 seed Hubert Hurkacz of Poland beat Serbia's Dusan Lajovic 7-6 (2), 6-3, while fifth seed Alex de Minaur of Australia beat Diego Schwartzman of Argentina 6-4, 6-4. 4 seed Stefanos Tsitsipas of Greece beat home-country favorite Dominic Thiem 7-6 (5), 6-4 in the first round in Vienna, Austria. 3 seed Andrey Rublev of Russia defeated Australia's Alexei Popyrin 7-6 (5), 6-4, and American sixth seed Tommy Paul took care of Frenchman Alexandre Muller 6-3, 6-1.

Persons: Holger Rune, Brandon Nakashima, Aly, Denmark, Serbia's, Rune, Hubert Hurkacz, Serbia's Dusan Lajovic, Alex de Minaur, Diego Schwartzman, Nicolas Jarry of, Frenchman Adrian Mannarino, Tallon Griekspoor, Russian Alexander Shevchenko, Dominic Stricker, Dominic Thiem, Tsitsipas, Andrey Rublev, Australia's Alexei Popyrin, Tommy Paul, Frenchman Alexandre Muller, Frances Tiafoe, Daniel Evans of Great, Grigor Dimitrov of, Tomas Machac, Lorenzo Sonego Organizations: Shanghai, Sports City Arena, U.S, REUTERS, Swiss, Basel, Australia, Erste Bank, Russia, Thomson Locations: Shanghai, China, Poland, Argentina, Nicolas Jarry of Chile, Netherlands, Russian, Swiss, Greece, Vienna, Austria, American, U.S, Daniel Evans of Great Britain, Grigor Dimitrov of Bulgaria, Czech

New Roche CEO Thomas Schinecker is keen to restore Roche's battered drug development record after major late-stage trial setbacks in the areas of Alzheimer's and cancer immunotherapy last year. The acquired drug, against inflammatory bowel disease such as ulcerative colitis and Crohn's disease, belongs to a class of new treatments known as anti-TL1A antibodies which has attracted major deal activity in the pharma industry. Merck & Co (MRK.N) in April agreed to buy anti-TL1A antibody developer Prometheus Biosciences for $10.8 billion. Inflammatory bowel disease is a group of chronic gastrointestinal disorders with almost 8 million people diagnosed worldwide and 80% of all individuals not experiencing lasting remission, Roche said. "We strongly believe this novel TL1A directed antibody has the transformational potential to make a significant difference for patients living with inflammatory bowel disease and potentially other diseases," said Roche CEO Schinecker.

Persons: drugmaker Roche, Arnd, New Roche, Thomas Schinecker, Schinecker, Roche, John Revill, Ludwig Burger, Friederike Heine, Jason Neely Organizations: REUTERS, Roivant Holdings, Pfizer Inc, pharma, Sanofi, Merck & Co, Prometheus Biosciences, Thomson Locations: Basel, Switzerland, ZURICH, FRANKFURT, Swiss, U.S, Japan, Zurich, Frankfurt

☆ ATP roundup: Sebastian Korda sent packing early in Basel
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +1 min

Korda fired eight aces to Etcheverry's two and won 33 of 39 first-serve points (84.6 percent), but Etcheverry moved on after saving four of six break points and breaking Korda twice in three opportunities. Dutch qualifier Botic van de Zandschulp beat Spaniard Roberto Bautista Agut 7-5, 6-7 (3), 6-2 in three hours, three minutes. 5 seed Alexander Zverev of Germany made quick work of Austrian wild card Sebastian Ofner, winning 6-4, 6-1 in the first round in Vienna. 8 seed Karen Khachanov defeated Roman Safiullin 6-4, 6-4 in a match between Russians. Cameron Norrie of Great Britain, Matteo Arnaldi of Italy and Jiri Lehecka of the Czech Republic also advanced.

Persons: Sebastian Korda, Argentina's Francisco Cerundolo, Aly, Tomas Martin Etcheverry, Korda, Etcheverry, Botic van, Zandschulp, Roberto Bautista Agut, Andy Murray of Great, Germany's Yannick Hanfmann, Argentina's Sebastian Baez, Germany's Jan, Lennard Struff, Alexander Zverev, Sebastian Ofner, Ofner, Zverev, Karen Khachanov, Roman Safiullin, Cameron Norrie, Matteo Arnaldi, Jiri Lehecka Organizations: Shanghai, Sports City Arena, Swiss, Basel, Erste Bank, Austrian, Thomson Locations: Shanghai, China, Argentina, Germany, Vienna, Great Britain, Italy, Czech Republic

Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. REUTERS/Rick Wilking/File Photo Acquire Licensing RightsWASHINGTON, Oct 20 (Reuters) - A trio of U.S. banking regulators announced on Friday they were giving the public extra time to digest and provide feedback on a broad proposal to raise bank capital requirements that is already facing fierce industry pushback. The regulators are similarly extending the window for a separate proposal that would raise a capital surcharge for the largest global banks. Firms have warned the proposal if finalized could force them to curtail lending, curb product offerings, and lead to economic harm. The "Basel Endgame" proposal implements international capital standards agreed by the Basel Committee on Banking Supervision in the aftermath of the 2007-2009 financial crisis.

Persons: Rick Wilking, Banks, Pete Schroeder, Andrea Ricci Organizations: REUTERS, Rights, Federal Reserve, Federal Deposit Insurance Corporation, Currency, Regulators, Banking, Fed, Thomson Locations: Westminster , Colorado

☆ Royalty Pharma to pay $1 bln for Roche's SMA drug royalties
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +1 min

The logo of Swiss drugmaker Roche is seen at its headquarters in Basel, Switzerland February 1, 2018. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsOct 19 (Reuters) - Royalty Pharma (RPRX.O) said on Thursday it has purchased additional royalties on Roche (ROG.S) and PTC Therapeutics' (PTCT.O) oral spinal muscular atrophy (SMA) drug for an upfront payment of $1 billion. Spinal muscular atrophy, a leading genetic cause of infant deaths, prevents the body from producing a protein necessary for neuromuscular development. The deal also includes options for PTC to sell up to all of its retained royalties on Evrysdi for up to $500 million at a later date, Royalty Pharma said. Royalty Pharma expects to fund the transaction with a combination of existing cash and about $350 million from its revolving credit facility.

Persons: drugmaker Roche, Arnd, Roche, Mariam Sunny, Shilpi Majumdar Organizations: REUTERS, Royalty Pharma, PTC Therapeutics, U.S . Food, Drug Administration, PTC, Thomson Locations: Basel, Switzerland, Bengaluru

☆ Exclusive: Lilly hires CordenPharma to make diabetes drug Mounjaro's active ingredient -source
▼ + stars: | 2023-10-19 | by ( Maggie Fick | ) www.reuters.com time to read: +3 min

An Eli Lilly and Company pharmaceutical manufacturing plant is pictured at 50 ImClone Drive in Branchburg, New Jersey, March 5, 2021. REUTERS/Mike Segar/File Photo Acquire Licensing RightsLONDON, Oct 19 (Reuters) - Eli Lilly (LLY.N) has hired Switzerland-based contract drugmaker CordenPharma to produce the active ingredient in its diabetes drug Mounjaro, a source familiar with the matter told Reuters on Thursday. Lilly has said it expects U.S. approval for Mounjaro for weight loss by the end of the year. The source told Reuters that CordenPharma's factory in Colorado is under contract to make tirzepatide, the active ingredient in the weekly injection. Analysts estimate the obesity market could be worth as much as $100 billion in the next decade.

Persons: Eli Lilly, Mike Segar, drugmaker, CordenPharma, Lilly, Corden, Maggie Fick, Josephine Mason, Bill Berkrot Organizations: Company, REUTERS, Reuters, CordenPharma, Novo Nordisk, Mounjaro, Thomson Locations: Branchburg , New Jersey, Switzerland, United States, Colorado, Basel, Europe, Boulder , Colorado, Boulder

Search resuls for: "BASEL"

25 mentions found