DIRS.INFO top alerts submit data jurnalism about API
login
Top related persons:
Ermotti - 1 Sergio Ermotti - 1 Denis Balibouse - 1 Jefferies - 1 Brenna Hughes - 1 John O'Donnell - 1 Noele - 1 Edwina Gibbs - 1
Top related locs:
Swiss London Switzerland ZURICH Zurich Switzerland Zurich Mozambican Mozambique
Top related orgs:
UBS - 2 Credit Suisse - 2 Thomson - 2 Credit Suisse Swiss - 1 UBS grapples - 1 REUTERS - 1 Swiss Bank Employees Association - 1 Analysts - 1

Search resuls for: "UBS grapples"


3 mentions found


☆ UBS targets $10 bln in costs, to cut 3,000 jobs after Credit Suisse takeover
  + stars: | 2023-08-31 | by ( Noele Illien Oliver Hirt | Noele Illien | Oliver Hirt | ) www.reuters.com   time to read: +6 min
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
☆ Mozambique "tuna bond" case against Credit Suisse can proceed, UK judge rules
  + stars: | 2023-07-03 | by ( Kirstin Ridley | ) www.reuters.com   time to read: +3 min
But he warned: "At trial, all alternatives, including to strike out and in whole or in part, remain available." Credit Suisse, UAE-Lebanese Privinvest and others argued that a lack of "adequate" disclosure jeopardised a fair trial. Under English litigation rules, each party has to disclose documents on which they rely for their case, those that might damage their own case and those that support the case of others. A spokesperson for Credit Suisse said the bank noted the judgment and "continues to defend itself". Credit Suisse agreed to pay about $475 million to British and U.S. authorities in 2021 to resolve bribery and fraud charges and has pledged to forgive $200 million of debt owed by Mozambique.
Persons: Robin Knowles, SISE, Privinvest, Kirstin Ridley, Rachel Savage, Sam Tobin, Conor Humphries Organizations: Credit Suisse, Privinvest, International Monetary Fund, Mozambican, UBS, Lawyers, Thomson Locations: London, Mozambican, Mozambique, UAE, Lebanese, Swiss, U.S, United States
☆ The banker Switzerland trusts to stem Credit Suisse crisis
  + stars: | 2023-03-29 | by ( John O'Donnell John Revill Stefania Spezzati | John O'Donnell | John Revill | ) www.reuters.com   time to read: +5 min
Ermotti may need to persuade Switzerland's authorities that UBS should keep "the piece de resistance," Credit Suisse's domestic bank, said Porta's Wittmann. During the financial crash of 2008 it was UBS, not Credit Suisse, that took the lion's share of support from the state. One of Ermotti's biggest challenges may be to prevent Credit Suisse's problems contaminating UBS, which will involve hacking back its investment bank and its unwieldy derivatives. Disentangling Credit Suisse's finances, however, is only a part of the problem. "There are clearly parts of Credit Suisse that have had a bad culture.
0 next >>
Total: 3