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☆ I'm a celebrity fashion stylist. Here are 5 brands I love that scream 'quiet luxury'—they start at just $9
▼ + stars: | 2023-09-22 | by ( Ashley Afriyie | ) www.cnbc.com time to read: +3 min

Zoom In Icon Arrows pointing outwards Credit: The Frankie ShopZoom In Icon Arrows pointing outwards Credit: The Frankie ShopWhile a bit more expensive than Zara, they offer more curated products and on-trend, minimalist designs. Zoom In Icon Arrows pointing outwards Credit: IntimissimiSilk and cashmere are sought after because the process to create them takes so long. Zoom In Icon Arrows pointing outwards Credit: MejuriMy must-haves are the pearl-stud earrings ($198) and delicate chain necklace ($148). Zoom In Icon Arrows pointing outwards Credit: Mejuri5. Zoom In Icon Arrows pointing outwards Credit: Uniqlo

Persons: Celine, Max Mara, Zara Zara's, Zara, Uniqlo Organizations: Gucci, Saks Fifth, Uniqlo Locations: Zara, New York City, Paris

☆ Michael Jordan’s ultra-private, ultra-exclusive personal golf course: The Grove XXIII
▼ + stars: | 2023-09-22 | by ( Jack Bantock | ) edition.cnn.com time to read: +11 min

Even as he was staking his claim in the 1990s as the greatest player the NBA has ever seen, the Bulls icon was a regular guest on the golf course. Bobby Weed Golf Design“Slaughterhouse 23”Weed had his two pillars for a great golf course — an engaged owner and a good piece of property, though the latter would require some polishing. Bobby Weed Golf DesignThe course didn’t just need to suit the playstyle of its owner, though, it needed to enhance it. Bobby Weed Golf DesignTaking a swingCompared to Bobby Weed Golf Design, Nichols Architects had considerably less experience in golf courses, but it did have one key advantage in its efforts to beat other bids to build The Grove XXIII’s clubhouse. “That’s like the ultimate compliment … to have his own golf course and to shape and mold that golf course for him and his friends, it’s just where he wants to be.

Persons: CNN —, Michael Jordan cherishes, it’s, Nichols, Mike Butler, Bobby Weed, Pete Dye, Hobe, Tiger Woods, Cliff Hawkins, Jordan, “, ” Weed, Weed, Jacob Kupferman, didn’t, Championships Jordan, ” “, Rickie Fowler, ”, Yvette Prieto, “ You’re, Igor Reyes, “ You’ve, ” Reyes, Nichols Architects Reyes, Jordan’s, ’ ” Nichols, Jimmy Walker, Reyes, it’s ‘, ‘, Grove, …, He’s Organizations: CNN, NBA, Bulls, Nichols Architects, PGA, Tiger, PGA Tour, Forbes, Augusta National, Championships, Nike, Adidas, Woods, ’ ” Nichols Architects, Air Locations: Chicago, Hobe Sound, Florida, Grove, Stillwater , Minnesota, Mito, Japan, Jordan, Ridge, Ponte Vedra, Pine Valley, ” Jordan, Miami, Weed

[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

☆ An amateur Scottish soccer club is accusing Elon Musk's SpaceX of stealing its logo, but says it doesn't plan on suing, and would rather he buys the team
▼ + stars: | 2023-09-18 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

The logo is very similar to that of an amateur soccer team in Scotland. Haddington Town AFC proceeded to joke about Elon Musk joining the team, and invited to him to buy the club. As more pictures of the badge emerged, it caught the attention of Haddington Town AFC. As well as the soccer club, it appears on the local high school's badge, on statues in the town, and even engraved on lamp posts. But Haddington Town AFC saw the funny side of things, joking on X about Musk joining the club.

Persons: Elon Musk, Ro Organizations: SpaceX, Haddington, Elon, Service, Haddington Town AFC Locations: Scotland, Wall, Silicon, Boca Chica , Texas

☆ 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

☆ Inside 2 major groups that run NIL deals for Big Ten student-athletes as 'collectives' gain enormous power and influence in college sports
▼ + stars: | 2023-09-14 | by ( Margaret Fleming | ) www.businessinsider.com time to read: +9 min

During the first year of NIL, collectives were viewed as "hush-hush" by many in the industry, Opendorse marketplace's Braly Keller previously told Insider. Brandon McCladdie/Happy Valley UnitedHow collectives work with college athletesThe main goal of collectives is to create NIL opportunities for college athletes. About a quarter of Dinkytown Athletes' NIL deals have been business partnerships between Minnesota athletes and companies like Dove, Northwestern Mutual, and PNC Bank. Happy Valley United's NIL work also involves engaging with the local community, including the collective's partner charities, said McCladdie. Happy Valley United is building its brand through media attention and community-based "grassroots" efforts, McCladdie said.

Persons: marketplace's Braly Keller, Keller, there's, it's, University of Minnesota —, Derek Burns, Burns, Brandon McCladdie, McCladdie Organizations: Big Ten, Pennsylvania State University, Dinkytown, University of Minnesota, State College ,, Penn, Golden Gophers, Happy, Dinkytown Athletes, Penn State, Blueprint Sports Foundation, Northwestern Mutual, PNC Bank, College, Gopher, Gopher Sports, State College Locations: State College , Pennsylvania, Minnesota, Minneapolis

☆ TD's US head says money-laundering probe 'manageable'
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +1 min

Toronto-Dominion Bank (TD) logos are seen outside of a branch in Ottawa, Ontario, Canada, May 26, 2016. REUTERS/Chris Wattie/File Photo Acquire Licensing RightsTORONTO, Sept 13 (Reuters) - A U.S. probe into Toronto-Dominion Bank's (TD.TO) anti-money laundering compliance program is "manageable, the bank's head of U.S. retail operations said on Wednesday. TD, Canada's second largest lender, disclosed in August it had been cooperating with U.S. authorities, including the U.S. Department of Justice, in an investigation and said it expected fines and non-monetary penalties. The bank called off the deal because of uncertainty about the timing of regulatory approvals, Salom said at a Barclays conference. "We believe that's a manageable item and in the fullness of time we will be able to resolve."

Persons: Chris Wattie, Leo Salom, Salom, Nivedita Balu, Richard Chang Organizations: Dominion Bank, REUTERS, Rights, Dominion, U.S, U.S . Department of Justice, TD Bank, U.S ., Barclays, Thomson Locations: Toronto, Ottawa , Ontario, Canada, U.S, Canada's

☆ JetBlue agrees to sell Spirit assets in Boston, Newark to Allegiant
▼ + stars: | 2023-09-11 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

Airplane model is placed on displayed Spirit Airlines and jetBlue Airways logos in this illustration taken, June 21, 2022. REUTERS/Dado Ruvic/Illustrations/File Photo Acquire Licensing RightsSept 11 (Reuters) - JetBlue Airways Corp (JBLU.O) said Monday it had agreed to sell all of Spirit Airlines (SAVE.N) assets at Boston and Newark Liberty airports to Allegiant (ALGT.O), as it works to win approval for its tie-up with Spirit. JetBlue said it had agreed to transfer two gates in Boston, two gates in Newark, and 43 takeoff and landing authorizations in Newark to Allegiant. JetBlue said in July it would not challenge a U.S. judge's May order that it end an alliance with American Airlines. JetBlue argued terminating its alliance with American renders "entirely moot" the government's objections to its deal to buy Spirit.

Persons: Dado Ruvic, Robin Hayes, judge's, David Shepardson, Mehr Bedi, Anil D'Silva, Mark Potter Organizations: Airlines, jetBlue Airways, REUTERS, JetBlue Airways Corp, Spirit Airlines, Newark Liberty, Spirit, JetBlue, Hollywood International Airport, Broward County Aviation Department, The Justice Department, U.S, American Airlines, US Airways, Thomson Locations: Boston, Allegiant, Newark, Fort Lauderdale, Massachusetts, New, LaGuardia, Frontier, U.S, Washington, Bengaluru

Learn moreThe Razer Kaira Pro is one of the best gaming headsets you can buy for an Xbox. The Kaira Pro also earns design points thanks to Razer's trademark style, with three color choices and customizable lighting. Razer Kaira Pro Wireless Headset The Kaira Pro headset can connect directly to Xbox consoles using Microsoft’s proprietary wireless signal, and it also has the ability to connect to Bluetooth devices at the same time. Kevin Webb / InsiderThe Razer Kaira Pro for Xbox comes in three colors: black, white, or a Halo Infinite-inspired green. AmazonThe most unique benefit of the Razer Kaira Pro is its ability to connect to Xbox Wireless devices.

Persons: it's, Slick, Kevin Webb, I've Organizations: Razer, PlayStation, Xbox, Bluetooth, Xbox Wireless, Dolby, DTS, Windows, Forza, Kaira

☆ I make $250K a year but still have financial anxiety and debt. A financial therapist is helping me let go of my shame — and set myself up for the future.
▼ + stars: | 2023-09-08 | by ( Megan Dematteo | ) www.businessinsider.com time to read: +10 min

So why did a couples-focused financial planner agree to meet with me — a single, childless, 33-year-old with debt and trust issues? As I signed off Zoom that day, I realized I would only see progress with a financial planner if I showed up with courage and sincerity. (A tip for anyone hiring their first financial planner : A fee-only structure is meant to avoid conflicts of interest.) But in sessions with a licensed therapist and certified financial planner like Coambs, clients are encouraged to talk through their feelings. Becoming more financially transparent — and more emotionally availableWorking with a therapy-informed financial planner is good practice for letting another human being into my emotional and financial worlds.

Persons: Peter Pan, Ed Coambs, Coambs, I've, I'm, —, we're, we've, I'd Organizations: Service Locations: Wall, Silicon, New York

OpenAI and ChatGPT logos are seen in this illustration taken, February 3, 2023. Worldwide desktop and mobile website visits to the ChatGPT website decreased by 3.2% to 1.43 billion in August, following approximately 10% drops from each of the previous two months. U.S. ChatGPT traffic in August rose slightly, in concert with American schools being back in session. OpenAI also released the ChatGPT app on the iOS system in May, which could sap some traffic from its website. Besides ChatGPT, OpenAI makes money by selling access to its AI models for developers and enterprises directly and through a partnership with Microsoft, which invested over $10 billion into the company.

Persons: Dado Ruvic, ChatGPT, chatbot, David F, Carr, Similarweb, Bard chatbot, Bing, OpenAI, Anna Tong, Kenneth Li Organizations: REUTERS, Microsoft, Thomson Locations: San Francisco

REUTERS/Dado Ruvic/Illustration//File Photo Acquire Licensing RightsSTOCKHOLM, Sept 7 (Reuters) - UNESCO on Thursday published its first guidance on use of Generative AI (GenAI) for education, urging governmental agencies to regulate the use of the technology, including protection of data privacy and putting an age limit for users. Students have also taken a liking for GenAI, which can generate anything from essays to mathematical calculations with just a few line of prompts. Among a series of guidelines in a 64-page report, UNESCO stressed on the need for government-sanctioned AI curricula for school education, in technical and vocational education and training. While China has formulated rules on GenAI, the European Union's AI Act is likely to be approved later this year. The Paris-based agency also sought to protect the rights of teachers and researchers and the value of their practices when using GenAI.

Persons: Dado Ruvic, OpenAI, GenAI, ChatGPT, Bard, Stefania Giannini, Supantha Mukherjee, Aurora Ellis Organizations: REUTERS, Rights, UNESCO, Microsoft, Reuters, Thomson Locations: Rights STOCKHOLM, China, Paris, Stockholm

☆ ADL chief fires back at Elon Musk for waging campaign of harassment against the group
▼ + stars: | 2023-09-07 | by ( Oliver Darcy | ) edition.cnn.com time to read: +4 min

Greenblatt told CNN on Wednesday that the ADL has seen a surge in threats directed at the organization since Musk began waging his campaign of bullying against the renowned institution. As a result, Greenblatt said, the ADL has been forced to increase its security. Nevertheless, despite the ominous climate, Greenblatt said that the ADL remains undeterred in its mission and insisted that it will not be intimidated. “For over 100 years, the ADL has been the leading anti-hate organization in the country fighting raging anti-semites, wild bigots, hardened anti-Zionists. Greenblatt said that while Musk is blaming the organization for its advertising woes, he has not been talking to advertisers.

Persons: CNN — Elon, Jonathan Greenblatt, Greenblatt, Musk, ” Greenblatt, “, It’s, —, We’ve, I’m, ”, Red Bull, Puck Organizations: CNN, Defamation, ADL, Twitter, Apple, Gatorade, Ritz Crackers, Samsung, NFL, MLB, Paramount, State Farm, IBM, Century Fox ., Washington Post, Street, The New York Times, Bloomberg, CNBC

☆ EU lists Alphabet, Amazon, Meta and three other tech giants as 'gatekeepers' under strict competition rules
▼ + stars: | 2023-09-06 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

The logos of Google, Apple, Facebook, Amazon and Microsoft displayed on a mobile phone with an EU flag shown in the background. The European Commission on Wednesday said it designated six tech giants as "gatekeepers" under its new Digital Markets Act — a strict set of rules that could shake up the business models of large digital platforms. Amazon, Alphabet, Apple, Microsoft, Meta and ByteDance will have six months to bring their core platform services into compliance with the obligations laid out in the EU's DMA, the Commission said. The Commission said that it deems Amazon , Apple , Alphabet , Meta , Microsoft and China's ByteDance as "gatekeepers." The EU believes that Microsoft's Bing, Edge and Microsoft Advertising platforms and Apple's iMessage service meet the bar to be considered gatekeepers.

Persons: Microsoft's Bing, Apple's iPadOS Organizations: Apple, Facebook, Microsoft, European Commission, Meta, EU, Edge, Commission, Google, Spotify, Games, Digital, CNBC, Wednesday Locations: EU, Cupertino, Beijing

☆ SunnyD Vodka Seltzer and other alcohol that looks like juice is everywhere. Some states are cracking down to avoid confusing shoppers.
▼ + stars: | 2023-09-06 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

There's also SunnyD Vodka Seltzer, made by Harvest Hill Beverage Company and on shelves since March, as well as Hard Mountain Dew, which is made by PepsiCo and the Boston Beer Company. Harvest Hill, which makes SunnyD Vodka Seltzer, pointed to the words "Vodka" and "contains alcohol" on its packaging for the beverage. Drinks like Hard Mountain Dew and SunnyD Vodka Seltzer have drawn criticism from consumer advocacy groups and public health experts for years. Sugary and fruity alcoholic beverages, such as White Claw hard seltzer, began to gain popularity at the end of the last decade. Besides potentially causing confusion, the beverages' sweet tastes make it easy to down one — or several — compared to traditional alcoholic beverages like beer.

Persons: Molson Coors, There's, Seltzer, Lisa Gardner, Molson, seltzer, Pamela Trangenstein Organizations: Service, Coca, Coke, Harvest Hill Beverage Company, PepsiCo, Boston Beer Company, Wall Street, Regulators, Illinois Liquor Control Commission, Illinois Commission, ., Cola, Molson Coors, Boston Beer, Public Health Institute, New York Times Locations: Wall, Silicon, . Virginia, Harvest Hill

☆ UBS CEO insists bank not too big after Credit Suisse takeover
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: +2 min

The logos of Swiss bank Credit Suisse and UBS are seen in Geneva, Switzerland, June 7, 2023. UBS completed its emergency takeover of Credit Suisse in June, forging a Swiss banking and wealth management giant with a $1.6 trillion balance sheet. The executive, who returned to UBS in April to steer the Credit Suisse takeover, was also critical of Credit Suisse. "Credit Suisse went under because it had a business model for years which was simply not right. "I don't think it will be a problem to integrate Credit Suisse," he said.

Persons: Denis Balibouse, Sergio Ermotti, Ermotti, Oliver Hirt, John Revill, Emelia Sithole Organizations: Credit Suisse, UBS, REUTERS, UBS Group, Suisse, Thomson Locations: Geneva, Switzerland, ZUG, Zug, Swiss

☆ Bankrupt Lordstown Motors proposes zero payment for Foxconn shares
▼ + stars: | 2023-09-05 | by ( Dietrich Knauth | ) www.reuters.com time to read: +3 min

Lordstown Motors and Foxconn logos are seen in this illustration taken, May 2, 2023. Even if the sale generates enough money for a shareholder payout, Lordstown proposed to pay nothing to the 300,000 preferred equity shares held by its estranged former business partner Foxconn. Lordstown alleged that Foxconn purchased only $30 million of the $100 million in preferred equity shares contemplated by the disputed investment agreement. Foxconn also purchased $22.7 million of Lordstown's common shares, owning about 8.4% of the company's equity, according to court documents. Foxconn had asked a U.S. bankruptcy judge to dismiss Lordstown's bankruptcy, a request that the judge denied on Aug. 28.

Persons: Dado Ruvic, Taiwan's Foxconn's, Lordstown, Karma, Foxconn, Dietrich Knauth, Alexia Garamfalvi, Timothy Gardner Organizations: Lordstown Motors, REUTERS, Lordstown's, Hai Precision Industry, Thomson Locations: Ohio, Delaware, Lordstown's

☆ Fake Taylor Swift tickets, student loan forgiveness: 4 top scams that targeted consumers this summer
▼ + stars: | 2023-09-04 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

Taylor Swift performs onstage during "Taylor Swift | The Eras Tour" at SoFi Stadium on August 09, 2023 in Inglewood, California. Concert and event ticket scamsFans were especially eager to see big-ticket acts like Beyonce and Taylor Swift as they toured this summer. Vacation lodging scamsVacationers who sought rentals or other services in popular destinations may have found themselves prey to fake listings. Such vacation scams meant travelers could find themselves out money as well as a place to stay. "But at the end of the day, those listings are fake listings, which puts consumers at risk," he said.

Persons: Taylor Swift, Kevin Winter, Beyonce, Fabara, Rob Bonta, Letitia James, Roomster, James, Tashdique Mehtaj Ahmed Organizations: Getty, Visa, New York, Federal Trade Commission, FTC, Federal Student Aid Locations: Inglewood , California, California, U.S, York

☆ No Sweat. Frances Tiafoe Would Like a Fresh Shirt Now.
▼ + stars: | 2023-09-04 | by ( Jesus Jiménez | More About Jesus Jiménez | ) www.nytimes.com time to read: +1 min

He will usually return to his bench, hydrate and towel off his face and body before slipping into a fresh shirt. Sometimes he’ll grab a fresh shirt out of his bag at the end of a set. It is not uncommon for a player who has been sweating in a competition to change into a clean shirt a few times each match. “You want to be as light as you can on the court,” Tiafoe said after his second-round victory, adding that if he feels even a small amount of moisture on his shirt, he’ll change it. For Tiafoe, it is a near obsession with changing shirts — perhaps more than any other player on the men’s tour.

Persons: Tiafoe, ” Tiafoe, I’m, Rafael Nadal

The logos of Swiss bank Credit Suisse and UBS are seen in Geneva, Switzerland, June 7, 2023. The powerful central bank, Swiss National Bank (SNB), said it disagreed with some of the suggestions, including on liquidity and on how the authorities work. It will change the landscape of banking in Switzerland, where branches of Credit Suisse and UBS are dotted everywhere, sometimes just metres apart. "(The) rescue of Credit Suisse isn't a perfect success but it's not a story of policy failure either. During the global financial crash of 2008, it was UBS, not Credit Suisse, that needed a state rescue.

Persons: Denis Balibouse, FINMA, Beat Wittmann, Nicolas Veron, it's, Oliver Hirt, John O'Donnell, Susan Fenton Organizations: Credit Suisse, UBS, REUTERS, Rights, UBS Group, Swiss, Swiss National Bank, –, Suisse, Social Democrat, Porta Advisors, Peterson Institute for International Economics, Thomson Locations: Geneva, Switzerland, Rights BERN, Swiss, Washington, Zurich

In a memo to staff Ermotti said that 3,000 Swiss jobs would go, while more people would leave of their own accord, for example, through retirement. With a market value of 77 billion Swiss francs, UBS also struck an optimistic note about its short-term outlook. With Credit Suisse in Switzerland intact and independent, as some politicians had hoped, fewer jobs would have been hit. [1/2]Logos of Swiss banks Credit Suisse and UBS are seen before a news conference in Zurich Switzerland, August 30, 2023. Reuters GraphicsThe bumper profit results from a huge one-off gain that reflects how the acquisition costs were far below Credit Suisse's value.

Persons: Ermotti, Sergio Ermotti, Denis Balibouse, Jefferies, Brenna Hughes, John O'Donnell, Noele, Edwina Gibbs, Tomasz Janowski, Alexander Smith Organizations: UBS, Credit Suisse Swiss, Credit Suisse, UBS grapples, REUTERS, Swiss Bank Employees Association, Analysts, Deutsche Bank, Reuters, Credit, Thomson Locations: Switzerland, ZURICH, Swiss, Zurich Switzerland, Zurich, London

☆ UBS to cut 3000 Swiss jobs as it slashes costs by $10 bln
▼ + stars: | 2023-08-31 | by ( Noele Illien | ) www.reuters.com time to read: +3 min

Logos of Swiss banks Credit Suisse and UBS are seen before a news conference in Zurich Switzerland, August 30, 2023. UBS also announced it would be keeping Credit Suisse's domestic bank - and the ensuing job losses are expected to result in a backlash in Switzerland. Hanging on to existing Credit Suisse clients is seen as key if UBS is to successfully pull off the Herculean deal. Groupwide UBS results include just one month of Credit Suisse earnings as the deal only closed in June. The bumper profit is due to a huge one-off gain that reflects how the acquisition costs were far below Credit Suisse's value.

Persons: Denis Balibouse, Ermotti, Sergio Ermotti, Noele Illien, John O'Donnell, Edwina Gibbs Organizations: Credit Suisse, UBS, REUTERS, Suisse, Thomson Locations: Zurich Switzerland, Switzerland, ZURICH, Swiss

☆ A pro-Putin rapper has taken over the assets of Domino's Pizza in Russia, after previously buying 130 Starbucks stores for just $6 million
▼ + stars: | 2023-08-31 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

The Russian entity of Domino's Pizza filed for bankruptcy earlier this month. Nine days later, a pair of Russian businessmen announced they'd taken over its assets, per Reuters. Now he and his business partner, Anton Pinskiy, have acquired 120 pizzerias with 2,000 employees, and will make only a minor change to the brand, per Reuters. The pair also bought all of Starbucks' 130 Russian coffee shops last year, and rebranded it as Stars Coffee. Wednesday's announcement came nine days after DP Eurasia — the Domino's company responsible for its Russian assets — announced it had filed for bankruptcy after ending attempts to find a buyer.

Persons: Pizza, they'd, they've, Putin, Timati, Anton Pinskiy, Pinskiy Organizations: Reuters, Service, YouTube, Guardian, Starbucks, Wall Street, Eurasia, —, DP Eurasia, Russia Locations: Wall, Silicon, Moscow, Russian

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