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☆ UBS pushes out S&P 500 mid-2024 target forecast to year-end
▼ + stars: | 2023-10-16 | by ( ) www.reuters.com time to read: +1 min

A logo of Swiss bank UBS is seen in Zurich, Switzerland March 29, 2023. REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsOct 16 (Reuters) - UBS said it now expects the S&P 500 (.SPX) to hit 4,700 points only by December 2024, instead of the middle of the year as it forecast earlier, due to expectations of higher-for-longer U.S. interest rates. "The delay ... is primarily related to the recent rapid move higher in interest rates and ... expectations that interest rates will remain higher for longer," said David Lefkowitz, head of chief investment office, U.S. equities, UBS. The fear of higher-for-longer rates has pushed the S&P 500 down about 6% from this year's highs hit late in July. Reporting by Reshma Rockie George and Susan Mathew in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

Persons: Denis Balibouse, David Lefkowitz, Lefkowitz, Reshma Rockie George, Susan Mathew, Savio D'Souza Organizations: Swiss, UBS, REUTERS, The Federal, Thomson Locations: Zurich, Switzerland, U.S, Bengaluru

☆ Honeywell sees steady demand for business jets over the next decade
▼ + stars: | 2023-10-16 | by ( Shivansh Tiwary | ) www.reuters.com time to read: +2 min

A logo of Honeywell is pictured on their booth during the European Business Aviation Convention & Exhibition (EBACE) in Geneva, Switzerland, May 22, 2017. REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsOct 15 (Reuters) - Global demand for new business jets is expected to stay strong over the next decade, Honeywell (HON.O) said on Sunday, as the engine maker projected deliveries of about 8,500 new planes through 2033. Private aviation witnessed a surge in newcomers, both in users and buyers, after the COVID-19 pandemic lifted demand for private flying as the wealthy took control of their travel. The flight activity is anticipated to stabilize in 2024 and grow in 2025, according to Honeywell. New users in business aviation have also increased demand by 500 aircraft and 6% more flights over the next 10 years.

Persons: Denis Balibouse, Heath Patrick, Shivansh, Shilpi Majumdar Organizations: Honeywell, European Business Aviation Convention, REUTERS, Global Business Aviation, Private, Bombardier, General Dynamics, Gulfstream, Honeywell Aerospace, Thomson Locations: Geneva, Switzerland, Americas, Bengaluru

☆ A desperate Russia may be just what North Korea needs to finally update its ancient Air Force
▼ + stars: | 2023-10-15 | by ( Benjamin Brimelow | ) www.businessinsider.com time to read: +9 min

North Korean leader Kim Jong Un visited Russia in September on his first overseas trip since 2019. The visit was seen as Russia's attempt to secure North Korean support for Moscow's war in Ukraine. For North Korea, Russia's desperation may be a chance to get help upgrading its aging air force. Korean People's Army Air and Anti-Air ForceSouth Korean troops guard a MiG-19 that a North Korean pilot used to defect in May 1996. KCNA via REUTERSGiven the North Korean air force's needs, it's easy to see Kim's visit as something of a prospective shopping trip.

Persons: Kim Jong Un, —, Vladimir Putin, Sergei Shoigu, Kim, Putin, CHOO YOUN, Antonov, Mikhail Japaridze, Kim's, Kim strode, Shoigu, Sergey Kobylash, Denis Manturov, Kim Jong Organizations: North, Service, Russian Defense, Vostochny, Amur Aircraft, Knevichi, Korean People's Army Air, Air Force South, MiG, Getty, Air Force, North Korean, Defense Intelligence Agency, DIA, KCNA, REUTERS, Kremlin Locations: Russia, Ukraine, North Korea, Korean, Russian, Moscow, Pyongyang, KONG, AFP, Soviet Union, China, Komsomolsk, Vladivostok, Japan, Korea

Sundar Pichai, Chief Executive Officer of Alphabet, gestures as he speaks during a session of the 50th World Economic Forum (WEF) annual meeting in Davos, Switzerland, January 22, 2020. REUTERS/Denis Balibouse Acquire Licensing RightsBRUSSELS, Oct 13 (Reuters) - EU industry chief Thierry Breton on Friday warned Alphabet (GOOGL.O) Chief Executive Officer Sundar Pichai to adhere to EU tech rules after the spread of disinformation on YouTube following Hamas' attacks in Israel, the latest company to be rebuked. False content about the Israel and Hamas conflict has proliferated on the major social media platforms over the past several days. According to Alphabet's YouTube, the company has quickly worked to remove harmful content after Hamas' attack and was prepared to take additional action. It has also rolled out a crisis resource panel in search with information from Israeli authorities for viewers in Israel.

Persons: Sundar Pichai, Denis Balibouse, Thierry Breton, Breton, Pichai, Elon Musk, Mark Zuckerberg, Shou Zi Chew, Foo Yun Chee, Sudip Kar, Gupta, Sheila Dang, Louise Heavens, Diane Craft Organizations: Economic, REUTERS, Rights, YouTube, Twitter, Digital Services, Google, DSA, Thomson Locations: Davos, Switzerland, Rights BRUSSELS, Israel, Dallas

☆ Ambitious research yields new atlas of human brain cells
▼ + stars: | 2023-10-12 | by ( Will Dunham | ) www.reuters.com time to read: +5 min

The human brain is complex in terms of its utility - sensing, moving, reading, writing, speaking, thinking and more - and its cellular diversity. The research identified 3,313 cell types, roughly 10 times more than previously known, and the complete set of genes used by each cell type while also mapping their regional distribution in the brain. "The brain cell atlas as a whole provides the cellular substrate for everything that we can do as human beings," said neuroscientist Ed Lein of the Seattle-based Allen Institute for Brain Science, one of the researchers. The various cell types have distinct properties and are likely affected differently in disease, Lein said. "We are only at the very beginning of delineating the complexity of the human brain," said another of the researchers, Bing Ren, director of the University of California, San Diego Center for Epigenomics.

Persons: Denis Balibouse, Ed Lein, Lein, Trygve Bakken, Bing Ren, Will Dunham, Rosalba O'Brien Organizations: Belle Idee University, REUTERS, Rights, U.S, government's National Institutes of Health, Census Network, Allen Institute for Brain Science, Allen, University of California, San Diego Center for Epigenomics, Thomson Locations: Neuropsychiatry, Chene, Bourg, Geneva, Seattle

☆ Blood tests needed for widespread Alzheimer's diagnosis on the way
▼ + stars: | 2023-10-11 | by ( Deena Beasley | ) www.reuters.com time to read: +6 min

Several Alzheimer's blood tests are in the works – and one is already being sold to consumers – but none have been established as accurate, formally approved by regulators or reimbursed by insurers. Researchers have been working for years on blood tests for Alzheimer's that can replicate these diagnostic tools. The need for blood tests has become more pressing since the FDA approved Leqembi in July. Accurate blood tests are expected to help identify which dementia patients actually have Alzheimer’s, the most common but not the only cause of dementia. "When there are widely available, scalable, sensitive and specific blood tests it will be an absolute game changer for Alzheimer's patients."

Persons: Denis Balibouse, Eli Lilly, Dr, Sarah Kremen, Eliezer Masliah, Eisai, Michael Irizarry, Roche, Bruce Jordan, Russ Paulsen, Deena Beasley, Caroline Humer, Bill Berkrot Organizations: Memory Centre, of Readaptation, University Hospital, REUTERS, FDA, Sinai Medical Center, Wednesday, Quest Diagnostics, National Institute, Aging, U.S . National Institutes of Health, C2N Diagnostics, Roche Diagnostics, Alzheimer's Association, RAND, Thomson Locations: Geneva, Switzerland, Leqembi, Eisai, Los Angeles, U.S

☆ UBS halts Middle East travel for staff
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: 1 min

A logo of Swiss bank UBS is seen in Zurich, Switzerland March 29, 2023. REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsZURICH, Oct 11 (Reuters) - UBS (UBSG.S) has told its employees to stop business travel within the Middle East, in light of a deepening conflict between Israel and Hamas, a source told Reuters on Wednesday. "Out of an abundance of caution, we are postponing all business travel and events in the Middle East for the foreseeable future as we seek to ensure the safety and security of our clients and employees," a person familiar with the matter said. UBS has also postponed a wealth management event, scheduled to take place in Qatar later this month, as first reported by Bloomberg. Reporting by Noele Illien and Oliver Hirt; Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Denis Balibouse, Noele Illien, Oliver Hirt, Louise Heavens Organizations: Swiss, UBS, REUTERS, Rights, Hamas, Reuters, Bloomberg, Thomson Locations: Zurich, Switzerland, Israel, Qatar

☆ Global watchdog reveals tensions at heart of Credit Suisse debacle
▼ + stars: | 2023-10-10 | by ( Huw Jones | ) www.reuters.com time to read: +5 min

Logos of Swiss banks Credit Suisse and UBS are seen before a news conference in Zurich Switzerland, August 30, 2023. The report, however, exposed tensions and conflicts at the heart of a process that ultimately required Switzerland to initially back the emergency rescue of Credit Suisse by rival UBS (UBSG.S) with public money to avert panic. The officials summed up that the "resolution" rules for shutting a collapsing bank without panicking markets could have worked for Credit Suisse, though public money would still likely have been needed. The FSB report sheds new light on events that led to Credit Suisse's downfall. The FSB said Switzerland's action preserved financial stability, even if it raised questions as to why the resolution was not chosen.

Persons: Denis Balibouse, Karin Keller, Sutter, Switzerland's Keller, FINMA, Andrew Bailey, Arturo Bris, Mayra Rodriguez Valladares, Arthur Wilmarth, it’s, Tatiana Bautzer, Elisa Martinuzzi, Stefania Spezzati, Pete Schroeder, Mark Potter, Nick Zieminski Organizations: Credit Suisse, UBS, REUTERS, UBS Group, Swiss, U.S, Bank of England, IMD, Bank, MRV Associates, Banco, George Washington University Law School, Thomson Locations: Zurich Switzerland, Switzerland, Swiss, U.S

☆ Honeywell to realign business segments to boost growth
▼ + stars: | 2023-10-10 | by ( ) www.reuters.com time to read: +1 min

A logo of Honeywell is pictured on their booth during the European Business Aviation Convention & Exhibition (EBACE) in Geneva, Switzerland, May 22, 2017. REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsOct 10 (Reuters) - Honeywell International (HON.O) is restructuring its business operations to three segments down from four to boost sales growth and reallocate capital, the industrial conglomerate said on Tuesday. "This simplified structure will enable Honeywell to realize synergies that will accelerate our innovation playbook," Chief Executive Officer Vimal Kapur said. Honeywell said its results for the third quarter would be in line with previously issued guidance ranges on its aviation business performance. Honeywell said its new segmentation would take effect from the first quarter of 2024.

Persons: Denis Balibouse, Vimal Kapur, Pratyush Thakur, Pooja Desai Organizations: Honeywell, European Business Aviation Convention, REUTERS, Thomson Locations: Geneva, Switzerland, Charlotte, North Carolina, Bengaluru

A senior Russian official accused the United States of deploying unmatched efforts to ensure Russia remained out of the Human Rights Council. The empty seat for the representative of Russia is pictured during the Human Rights Council special session on the human rights situation in Ukraine, at the United Nations in Geneva, Switzerland, May 12, 2022. China and Cuba were also among the winners of Tuesday's vote, drawing objections from human rights defenders. "Crimes against humanity and genocide apparently (are) not disqualifying actions for UN's top human rights body," the Uyghur Human Rights Project, which advocates against what rights campaigners say are China's grave human rights abuses against the mainly Muslim ethnic minority, wrote on messaging platform X.Juan Pappier, deputy director for the Americas at Human Rights Watch, wrote on X in the run-up to the vote that Cuba was unfit to be a member of the Council. "Its record of systematic human rights violations speaks for itself," he wrote.

Persons: doesn't, Louis Charbonneau, Vladimir Putin, Maria Lvova, Denis Balibouse, Maria Zabolotskaya, Richard Gowan, Juan Pappier, Emma Farge, Gabrielle Tétrault, Farber, Deepa Babington Organizations: Russia, GENEVA, United Nations, General Assembly, Rights Council, UN, United, Human Rights Watch, Children's, Kremlin, Human Rights, Human, REUTERS, Representative, Crisis, Thomson Locations: Bulgaria, Albania, Russia, Ukraine, Cuba, China, Moscow, Europe, Geneva, United Nations, U.S, Russian, United States, Switzerland, Russia's

☆ UEFA axes plan to lift Under-17 ban on Russia teams
▼ + stars: | 2023-10-10 | by ( ) www.reuters.com time to read: +1 min

"The agenda point was withdrawn as no technical solution to allow Russian teams to play could be found," UEFA said of the plan, which was fiercely opposed by Ukraine and other soccer federations. In the wake of Russia's invasion of Ukraine in February 2022, which Moscow calls a 'special military operation', UEFA decided that all Russian teams - national or club sides - would be suspended from participation in its competitions. There was no immediate reaction from Russia. The Russian Football Union did not immediately respond to request for comment. Reporting by Gabrielle Tétrault-Farber; Editing by Ken FerrisOur Standards: The Thomson Reuters Trust Principles.

Persons: Denis Balibouse, Gabrielle Tétrault, Farber, Ken Ferris Organizations: Soccer Football, UEFA, Russia's, Russian Football Union, Thomson Locations: Nyon, Switzerland, NYON, Ukraine, Moscow, Russia

On Monday, LA28 organisers formally asked that flag football for both the men's and women's competitions as well as four other sports be added to the event. It would mark the Olympic debut for flag football, a game that looks similar to tackle football, with passing and receiving, but requires little protective equipment, with play stopping when a defender pulls a cloth flag from the waist of an opponent. "But I will tell you that through this process a number of great young stars of the league have said how great it would be to represent their country and play flag." O'Reilly said one appeal of flag football is that it is low cost and that almost anyone can play it. "The Olympics in LA would be a tremendous boost to flag football around the world and in this country."

Persons: Denis, Stephanie Lecocq, Peter O'Reilly, Diana Flores, O'Reilly, LA28, Rory Carroll Organizations: REUTERS, NFL, U.S ., Reuters, International Olympic Committee, International Federation of American Football, World Games, Italy, U.S, IOC, Los Angeles Our, Thomson Locations: Saint, Paris, France, Los Angeles, Mumbai, Birmingham , Alabama, Mexico, LA

☆ Russia's electronic warriors are switching to 'much more subtle' operations around the frontlines in Ukraine
▼ + stars: | 2023-10-08 | by ( Stavros Atlamazoglou | ) www.businessinsider.com time to read: +6 min

Electronic warfare has played an important if less visible role in the war in Ukraine. As the war has evolved, EW troops on both sides have had to adapt and innovate to remain effective. After nearly 300,000 casualties and many humiliating defeats, the Russian military is still struggling to adjust to Ukraine's willingness and ability to fight. Electronic warfare — the use of electronic signals to find, intercept, and jam enemy forces — has been an important element of daily combat. Russian EW has been a major area of investment" and its EW troops "tend to be technically competent," the RUSI report says.

Persons: —, Storm, Denis Abramov, Stavros Atlamazoglou Organizations: Service, Royal United Services Institute, REUTERS, GPS, EG, Rockets, Russian Defense Ministry, Russian, Hellenic Army, 575th Marine Battalion, Army, Johns Hopkins University, Johns Hopkins School, International Studies, Boston College Law School Locations: Ukraine, Russia, Ukrainian, British, Donetsk, Russian, Moscow, Kyiv

☆ 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

Hroza CNN —Two women slowly approach a makeshift memorial in the village of Hroza. “It was a powerful strike, very powerful, I came out and everything was burning,” she recalled, the horror of Thursday afternoon’s strike still very present. Residents say little more than 110 had remained in the village, nearly half of those killed by the strike. Vasco Cotovio/CNNThe grocery store and cafe hit by a Russian missile in Hroza were meters away from a children's playground. Vasco Cotovio/CNNValentina Kozienko, 73, says the Russian strike also damaged her house.

Persons: ”, Valentina Kozienko, “, Vasco Cotovio, Andrii, Denis, Hroza, ” Anatoliy Androsovych, Mykola, “ It’s, Andrii Kozyr Organizations: CNN, CNN Emergency Locations: Hroza, Russian, Russia, ”, Kupiansk, Kharkiv, Ukrainian, Dnipro

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

☆ Marc Polmans: Tennis player apologizes for hitting ball at umpire
▼ + stars: | 2023-10-05 | by ( George Ramsay | ) edition.cnn.com time to read: +1 min

CNN —Australian tennis player Marc Polmans has said that he apologized to a chair umpire after hitting a ball in his face during a qualifying match at the Shanghai Masters. Polmans was leading Italy’s Stefano Napolitano 7-6 6-6 and had a match point in the tie break when he accidentally hit a ball at umpire Ben Anderson after netting a backhand volley. 140 was disqualified from Tuesday’s match, where a victory would have earned him a spot in the main draw. “The umpire, Ben, has accepted my apology for my actions – he knows it was unintentional and I shanked the ball on the frame in frustration in the heat of the moment,” Polmans said on X, formerly Twitter. Six years ago, Denis Shapovalov apologized and was fined $7,000 for inadvertently hitting a chair umpire with a ball during a Davis Cup match, while Novak Djokovic was defaulted from the 2020 US Open when he accidentally struck a line judge with a ball.

Persons: Marc Polmans, Polmans, Italy’s Stefano Napolitano, Ben Anderson, Ben, ” Polmans, “, ”, Polman, Denis Shapovalov, Novak Djokovic Organizations: CNN, Shanghai Masters, ” Reuters, ATP Locations: Australian

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

☆ Australia's Polmans apologises for hitting ball into umpire's face
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: +1 min

Aug 4, 2019; Montreal, Quebec, Canada; Marc Polmans of Australia plays a shot against Bernard Tomic of Australia (not pictured) during the Rogers Cup tennis tournament at Stade IGA. Mandatory Credit: Eric Bolte-USA TODAY Sports/file photo Acquire Licensing RightsOct 4 (Reuters) - Australian Marc Polmans said he had apologised to the chair umpire after accidentally hitting him in the face with a ball in a Shanghai Masters qualifying match on Tuesday. The world number 140 was leading Italian Stefano Napolitano 7-6(3) 6-6(6-5) when he hit a volley into the net on his second match point before launching the ball in frustration, catching chair umpire Ben Anderson in the face. Polmans was immediately disqualified after the incident, which brought back memories of a similar one in 2017 when Denis Shapovalov inadvertently smashed a ball into the face of umpire Arnaud Gabas, leaving him with a fractured eye socket. Polmans will lose any prize money and ranking points picked up during the qualifying tournament.

Persons: Marc Polmans, Bernard Tomic of, Eric Bolte, Italian Stefano Napolitano, Ben Anderson, Polmans, Denis Shapovalov, Arnaud Gabas, Anderson, Ben, Shrivathsa Sridhar, Peter Rutherford Organizations: Rogers, Stade IGA, Shanghai Masters, Thomson Locations: Montreal, Quebec, Canada, Australia, Italian, Bengaluru

☆ 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

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

☆ 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

☆ 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

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