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☆ Salesforce CEO Marc Benioff says AI can't be 'bad' like social media if it's going to be trusted
▼ + stars: | 2024-01-18 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +2 min

Marc Benioff called for greater public trust in AI in a panel at the World Economic Forum. The Salesforce CEO said he wants people to trust AI — unlike social media over the past decade. Winning public trust in AI will require greater regulation, Benioff said. Benioff also said that social media has been a "shit show," adding: "It's pretty bad — we don't want that in our AI industry." OpenAI CEO Sam Altman spoke at the World Economic Forum in Davos, Switzerland.

Persons: Marc Benioff, Benioff, —, Salesforce, Sam Altman, FABRICE COFFRINI, OpenAI, Altman, wasn't, Einstein, Salesforce didn't Organizations: Economic, Service, CNBC, Bloomberg, Business Locations: Davos, Switzerland, OpenAI

☆ ‘The Western world is in danger’: Argentina’s Milei, a self-described ‘anarcho-capitalist,’ urges Davos elite to reject socialism
▼ + stars: | 2024-01-17 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

Argentina's President Javier Milei delivers a speech at the World Economic Forum (WEF) meeting in Davos on January 17, 2024. "Today, I'm here to tell you that the Western world is in danger," Milei said in a special address at the World Economic Forum in Davos, Switzerland, according to a translation. "Rebuilding Trust" is the overarching theme of the annual WEF meeting. WEF founder Klaus Schwab introduced Milei to the stage in Davos by saying his "more radical methods" had "introduced a new spirit to Argentina." "The main leaders of the Western world have abandoned the model of freedom for different versions of what we call collectivism.

Persons: Javier Milei, Fabrice COFFRINI, FABRICE COFFRINI, Milei, Donald Trump, WEF, Klaus Schwab Organizations: Economic, Getty, Reuters Locations: Davos, AFP, Switzerland, Swiss, Argentina

☆ Mega rich renew call on global leaders at Davos to 'tax our extreme wealth'
▼ + stars: | 2024-01-17 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

Austrian Marlene Engelhorn, who inherited from her family who owns the Germany's chemical giant BASF, poses with a placard reading "Tax the rich!" at the entrance of the Congress center on the opening of the annual meeting of the World Economic Forum (WEF) in Davos, on January 15, 2024. In an open letter to political leaders gathered at the annual World Economic Forum in Davos, Switzerland, the rich signatories said they wished to deliver a clear message: "Tax our extreme wealth." "We are surprised that you have failed to answer a simple question that we have been asking for three years: when will you tax extreme wealth?" But it will turn extreme and unproductive private wealth into an investment for our common democratic future."

Persons: Marlene Engelhorn, Fabrice COFFRINI, FABRICE COFFRINI, Abigail Disney, Simon Pegg, Valerie Rockefeller, Brian Cox, Logan Roy, Cox Organizations: BASF, Economic, Getty, Oxfam Locations: Davos, AFP, Switzerland, HBO's

☆ UN chief calls for global risk management of AI, warns of 'serious unintended consequences'
▼ + stars: | 2024-01-17 | by ( Sam Meredith | ) www.cnbc.com time to read: +3 min

"It's good to be back and see Davos highlighting the global crisis in trust," Guterres said in his opening remarks. In a special address at the World Economic Forum in Davos, Switzerland, Guterres warned that the rapid development of AI could result in "serious unintended consequences." "Every new interaction of generative AI increases the risk of serious unintended consequences. "These two issues, climate and AI, are exhaustively discussed by governments, by the media and by leaders here in Davos. "The reason is simple, geopolitical divides are preventing us from coming together around global solutions for global challenges.

Persons: Antonio Guterres, Fabrice COFFRINI, FABRICE COFFRINI, WEF, Guterres, António Guterres, Satya Nadella, — CNBC's Ryan Browne Organizations: Economic, Getty, United Nations, Microsoft, International Monetary Fund, IMF Locations: Davos, AFP, Switzerland, U.S

☆ Davos: Zelensky warns Putin’s war must not become ‘frozen’ as Ukraine faces shortage of weaponry and aid
▼ + stars: | 2024-01-16 | by ( Christian Edwards | Niamh Kennedy | ) edition.cnn.com time to read: +6 min

Is the third world war possible? Putin’s war was less than a year old when Zelensky last spoke at Davos via a video link in January 2023. Zelensky said the West's fears that supplying weapons would escalate the war cost Ukraine time, lives and opportunities. Speaking at Davos shortly before Zelensky, NATO Secretary-General Jens Stoltenberg said only continued support for Ukraine would make Putin to relent. “And the paradox is that, if we want that to happen… the way to get there is [to send] more weapons to Ukraine.

Persons: Volodymyr Zelensky, Zelensky, “, Putin, ” Zelensky, Valery Zaluzhny, Ukraine’s, Ursula von der Leyen, Von der Leyen, ” Von der Leyen, Ursula Von der Leyen, Gian Ehrenzeller, ’, ”, Fabrice Coffrini, Jens Stoltenberg, ” Stoltenberg Organizations: CNN, Economic, Hamas, ”, Getty, NATO Locations: Davos, Switzerland, Ukraine, Russia, Kherson, Kharkiv, Kyiv, Pyongyang, Tehran, AFP

☆ Will the Profit Motive Fail Us on AI Safety?
▼ + stars: | 2023-11-27 | by ( ) www.wsj.com time to read: +1 min

A humanoid AI robot in Geneva, July 5. Photo: fabrice coffrini/Agence France-Presse/Getty ImagesThe mission of a for-profit company is, well, profit, the greatest return for investors. That’s the profound ethical crisis at the heart of artificial general intelligence development (“Capitalism Works, Says ChatGPT” by Holman Jenkins, Jr., Business World, Nov. 22). Open AI’s nonprofit mission has been to guard humanity against the possible (and seemingly ever more probable) danger of unleashing artificial general intelligence on the world. If the controlling factor is mere profit, look for the nightmare.

Persons: fabrice coffrini, ChatGPT ”, Holman Jenkins , Jr, “ won’t Organizations: Agence France Locations: Geneva

☆ Sergio Ermotti, UBS CEO, is leading the biggest banking deal in history. Failure is not an option
▼ + stars: | 2023-11-13 | by ( Hanna Ziady | ) edition.cnn.com time to read: +11 min

The caller was UBS (UBS) chairman Colm Kelleher. “I was definitely not expecting the phone call,” Ermotti told CNN on the sidelines of a conference in Geneva last month. UBS paid 60% less than the beaten-down value of Credit Suisse shares just before its last-ditch rescue over a weekend. Even if Credit Suisse had none of that painful baggage, the sheer size of the two banks makes the merger an enormous undertaking. “The fact that UBS was asked to be part of the solution (to Credit Suisse), that was the ultimate success,” Ermotti told CNN.

Persons: Sergio Ermotti, Colm Kelleher, Ermotti, ” Ermotti, Anke Reingen, Roger Federer, “, ”, Morgan Stanley, ” Kelleher, Michael Buholzer, it’s, Katrin Koch, Tom Naratil, —, Merrill Lynch, Stefan Wermuth, Oswald Gruebel, ” Christopher Wheeler, Fabrice Coffrini, … Organizations: Switzerland CNN, UBS, Credit Suisse, CNN, Bank of America, JPMorgan, HSBC, RBC Capital Markets, RBC, Ermotti’s, Banca, Citi, UBS —, Bloomberg, New York Times, Getty Locations: Geneva, Switzerland, Swiss, Zurich, Lugano, Singapore, Europe, Middle East, Africa, New York, AFP

☆ UBS Remains Under Swiss Regulator’s Magnifying Glass
▼ + stars: | 2023-11-10 | by ( Richard Vanderford | ) www.wsj.com time to read: 1 min

The risks of cyberattacks, information-technology disruptions and fraud have significantly increased during the integration of UBS and Credit Suisse, Finma, Switzerland’s financial regulator said. Photo: fabrice coffrini/Agence France-Presse/Getty ImagesUBS is facing scrutiny from Finma, Switzerland’s chief financial regulator, as it integrates with Credit Suisse following the merger of the two global banks this year, the regulator said, adding that it will appoint outside monitors to oversee the process. The risks of cyberattacks, information-technology disruptions and fraud have significantly increased during the integration of UBS and Credit Suisse, Finma said Thursday in an annual risk outlook report. The regulator also noted an overarching concern that a lack of a “holistic overall risk view” could mean that controls are inadequate.

Persons: fabrice coffrini, Finma Organizations: UBS, Credit Suisse, Agence France, Getty Locations: Finma

☆ WTO chief warns Israel-Hamas war could hurt global growth if conflict spills over
▼ + stars: | 2023-10-30 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

World Trade Organization Director-General Ngozi Okonjo-Iweala opens the 2021 WTO Public Forum with a round table on Covid and trade, in Geneva, on September 28, 2021. (Photo by Fabrice COFFRINI / AFP) (Photo by FABRICE COFFRINI/AFP via Getty Images)The World Trade Organization's director-general warned that the ongoing Israel-Hamas conflict will impact global growth if it spills over to the wider Middle East region. In an interview with CNBC aired on Monday, Ngozi Okonjo-Iweala said: "If it spreads beyond where it is now, to the rest of the Middle East, there will be an impact." So you will see an impact on global growth, on global trade," she added. We're praying for de-escalation and peace," she told CNBC's Martin Soong on the sidelines of the Group of 7 meeting in Osaka, Japan.

Persons: Ngozi Okonjo, Iweala, Fabrice COFFRINI, FABRICE COFFRINI, Ngozi, CNBC's Martin Soong Organizations: Trade Organization, Getty, Trade, CNBC Locations: Geneva, AFP, Israel, Osaka, Japan

☆ These are the 10 most prestigious internships to have on your resume, according to 13,000 current and former interns
▼ + stars: | 2023-10-29 | by ( Jordan Hart | ) www.businessinsider.com time to read: +2 min

Thousands of current and former interns were surveyed about the most prestigious internships. The 13,000 interns rated the top companies on a scale of 1 to 10. Career intelligence company Vault surveyed 13,000 current and former interns, and they shared which companies they believe have the most prestigious internships. Wall Street summer interns can earn over $52,000 before taxes at some firms during their 11-week program. Here are the top 10 most prestigious internships according to thousands of current and former interns.

Persons: —, J.P, Morgan Mike Kemp, Jason Reed JIR, McKinsey & Company FABRICE COFFRINI, Joe Raedle, Morgan Stanley, Morgan Stanley's, Michael M, Goldman Sachs Michael M, Microsoft Toby Scott, Artur Widak Organizations: Service, White, Getty, CIA, U.S . Central Intelligence Agency, McKinsey & Company, SpaceX SpaceX, Times, Apple, California Thomson Reuters, Microsoft, NASA Locations: Langley, REUTERS, AFP, Palo Alto, California

☆ 2023 Ryder Cup teams: Shock selections, ‘criminal’ absences: Everything you need to know about the squads
▼ + stars: | 2023-09-06 | by ( Jack Bantock | ) edition.cnn.com time to read: +13 min

CNN —The teams are in – and Ryder Cup fever has officially taken hold. Team USACaptain: Zach JohnsonA member of five US teams as a player, Johnson is a veteran of the Ryder Cup. Consistency” – who accumulated more Ryder Cup points than the next two closest players combined since the start of 2022. Subsequently, selecting Koepka for his fourth Ryder Cup appearance was an “easy pick” for his captain. Rounding out the American roster are Ryder Cup rookie Burns and Morikawa, who went 3-0-1 on his debut two years ago.

Persons: Zach Johnson, Luke Donald, Marco Simone Golf, It’s, Johnson, Steve Stricker, Stricker, Davis Love III, Jim Furyk, Fred Couples, Stewart Cink, Jonathan Bachman, Scottie Scheffler, Wyndham Clark, Brian Harman, Patrick Cantlay, Max Homa, Xander Schauffele, Scheffler, Ezra Shaw, Clark, Harman, Homa, Schauffele, ” Homa, ” Harman, ” Johnson, Sam Burns, Rickie Fowler, Brooks Koepka, Collin Morikawa, Jordan Spieth, Justin Thomas It’s, LIV, Koepka, “, “ Brooks, CNN Thomas, he’s, JT, ” Thomas, Thomas, Ryder, ” Cameron Young, Keegan Bradley, Denny McCarthy, “ Zach, Ross Kinnaird, Spieth, Fowler, Burns, Morikawa, Marco Simone, that’s, Luke Donald He, Donald, Henrik Stenson, Francesco Molinari, Edoardo –, Thomas Bjørn, Nicolas Colsaerts, María, Sergio Garcia, Andrew Redington, Rory McIlroy, Jon Rahm, Viktor Hovland, Tyrrell Hatton, Matt Fitzpatrick, Robert MacIntyre, McIlroy, Rahm, Fitzpatrick, compatriot Hatton, MacIntyre, ” Donald, ”, Paul Ellis, Captain’s, Tommy Fleetwood, Sepp Straka, Shane Lowry, Justin Rose, Nicolai Højgaard, Ludvig Aberg, Swede, Ludvig, “ He’s, Fabrice Coffrini, Adrian Meronk, Paul Goydos, Adrian, There’s, Straka, Rose, Lowry Organizations: CNN, Ryder, United States, Country Club, Team Europe, Team USA, Whistling, Davis Love, Tour, PGA, CNN Sport, FedEx, Getty, USA, ” Team, Northern, Scottish, Hovland, European, Fleetwood Locations: –, Rome, Italy, Whistling Straits, Hazeltine, Saudi, Europe, Hovland, Norwegian, AFP, Switzerland, Crans Montana

☆ A 'historic' result but still a 'construction site': Analysts react to blowout UBS earnings
▼ + stars: | 2023-08-31 | by ( Elliot Smith | ) www.cnbc.com time to read: +4 min

Swiss authorities brokered the controversial emergency rescue of Credit Suisse by UBS for 3 billion Swiss francs ($3.37 billion) over the course of a weekend in March. Fabrice Coffrini | AFP | Getty ImagesUBS shares rallied to 15-year highs on the back of what analysts branded a "historic" earnings report, though Deutsche Bank said the Swiss banking giant may remain a "construction site" for some time. UBS also announced that it will fully integrate Credit Suisse's Swiss banking unit, a key profit center, in 2024. Notably, UBS highlighted that the massive net asset and deposit outflows seen by Credit Suisse over the last year have finally begun to reverse, and turned positive in June. "It's difficult to combine a blowout result like that and then to announce layoffs at the same time.

Persons: Fabrice Coffrini, Benjamin Goy, Sharath Kumar, Bruno Verstraete, Verstraete Organizations: Credit Suisse, UBS, AFP, Getty, Deutsche Bank, Swiss, Credit, midafternoon, Lakefield Partners, CNBC Locations: Swiss, Zurich, 2Q23, Switzerland

☆ Salesforce shrugs off growth concerns as reenergized CEO Benioff lifts guidance
▼ + stars: | 2023-08-30 | by ( Jeff Marks | ) www.cnbc.com time to read: +9 min

Non-GAAP earnings-per-share (EPS) of $2.12 grew 78% from last year and beat the $1.90-per-share EPS predicted by analysts, Refinitiv data showed. While the solid margin beat and upside to earnings are similar to what Salesforce reported back in May, one key difference this time was the increased revenue outlook. It now expects to hit $34.7 billion to $34.8 billion, up from $34.5 billion to $34.7 billion. Salesforce raised its GAAP EPS range to $3.50 to $3.52, up from $2.67 to $2.69, and non-GAAP EPS range to $8.04 to $8.06, up from $7.41 to $7.43. Salesforce also expects its cPRO to grow slightly above 11% from last year and that's slightly better than estimates of 10.8% growth.

Persons: Refinitiv ., Salesforce, Marc Benioff, Brian Millham, Jim Cramer's, Jim Cramer, Jim, Fabrice Coffrini Organizations: Revenue, CNBC, Economic, Afp, Getty Locations: Salesforce, Americas, Europe, Africa, Asia, Davos, Switzerland

☆ Europe’s summer of extremes triggers health warnings, nuclear output fears and shipping disruption
▼ + stars: | 2023-08-25 | by ( Sam Meredith | ) www.cnbc.com time to read: +5 min

Europe's protracted battle with extreme weather conditions comes shortly after official data showed July was the hottest month in history. To be sure, the climate emergency — which is primarily driven by the burning of fossil fuels — is making extreme weather and its impacts more frequent and more intense. People stand at an overflooded petrol station in Gjovik on August 11, 2023 after extreme weather with heavy rain hit south-east Norway. This gives us the long-term context for the increasing occurrence and severity of such extreme weather and extreme events." On the same day, France issued an extreme heat warning for four regional departments in the southern regions of Rhone, Drome, Ardeche and Haute-Loire.

Persons: Angelos Tzortzinis, Alvaro Silva, Heiko Junge, Silva, Christophe Archambault, Nero, sweltering, Fabrice Coffrini Organizations: Sikorsky, Afp, Getty, EDF, Turkish, Meteorological Organization, Firefighters, Reuters Locations: Acharnes, Athens, Europe, Greece, French, Italy, Norway, Gjovik, Alexandroupolis, France, Rhone, Drome, Ardeche, Haute, Loire, Bordeaux, Sardinia, Dardanelles, Switzerland

☆ A multitrillion-dollar carbon bubble? Climate chief warns world leaders over fossil fuel plans
▼ + stars: | 2023-08-16 | by ( Sam Meredith | ) www.cnbc.com time to read: +7 min

The message from the world's leading climate scientists in April last year was that a substantial reduction in fossil fuel use will be necessary to curb global heating. The burning of fossil fuels such as coal, oil and gas is the chief driver of the crisis. Indeed, the IPCC said that current fossil fuel use was already more than the planet could handle and additional projects were destined to lock in even greater emissions with devastating consequences. The U.N. climate panel also estimated that fossil fuel investors could be at risk of losing between $1 trillion and $4 trillion if governments act to limit global temperature rise. Despite this, some of the world's richest nations, such as the U.S. and China, have cited energy security as a reason for investing in additional fossil fuel projects.

Persons: Jim Skea, Fabrice Coffrini, Skea, We've, Fethi Belaid, Hoesung Lee, Rishi Sunak's, Danny Lawson, Biden, Mario Tama Organizations: Afp, Getty, CNBC, South, Imperial College London, Greenpeace, United Arab, Social, Trans, Trans Alaska Pipeline System, National Petroleum Reserve Locations: Algeria, Europe, North Africa, East, Asia, staving, China, Ukraine, Paris, Richmond , North Yorkshire, United Arab Emirates, Trans Alaska, Alaska, Delta Junction

☆ Paris 2024: The war in Ukraine shows no sign of ending. That leaves a dark cloud over the Olympic Games
▼ + stars: | 2023-07-29 | by ( Matt Foster | ) edition.cnn.com time to read: +10 min

Kharlan’s disqualification threw into sharp relief the political and organizational jeopardy that France and the International Olympic Committee (IOC) is facing ahead of the Games. So far, no decision has been taken on Russian and Belarusian athletes’ participation at the 2024 Paris Olympics. The opening ceremony is already uniquely French in nature with the Games set to be centered around the Seine, the river running through the city. Organizers also say that the Paris Games “finance themselves,” claiming that 96% of the budget comes from private investment. Next year’s Olympic Games are set to start on July 26 and run until August 11.

Persons: Olga Kharlan, Anna Smirnova, Kharlan’s, Thomas Bach, Russia’s, Smirnova, Russian Anna Smirnova, Ukraine's Olga Kharlan, Tibor Illyes, ” Bach, “, ” Edwin Moses, Nawal El Moutawakel, CNN’s Amanda Davies, Jimmy Carter, ”, Moses, AP El, Emmanuel Macron, Geoffroy Van Der, Tony Estanguet, CNN’s Melissa Bell, “ It’s, Denis the, aren’t, Jimmy Gressier, Tullio M, Estanguet, Shelly, Ann Fraser, Pryce, ” Fraser, Fabrice Coffrini, Katie Ledecky, Ariarne Titmus, Summer McIntosh Organizations: CNN, International Olympic Committee, IOC, Belarusian Olympic, Olympic, US Olympic, USA, US State Department, United, AP, AP El Moutawakel, Games, Eastern Bloc, Getty, Paris, FIFA, Stade de France, UEFA, League, Stade de France –, de Police, BFMTV, RMC Sport, CNN Sport, Paris Games, Paralympic, Paralympic Games Locations: Paris, Ukrainian, France, Ukraine, Belarusian, Russia, Milan, Russian, Soviet, Afghanistan, Morocco, United States, Soviet Union, Los Angeles , California, –, Geoffroy Van Der Hasselt, AFP, Saint, Puglia, Lausanne, Switzerland, Australia, Canada, Seine

☆ U.S. and China envoys seek to revive climate diplomacy
▼ + stars: | 2023-07-17 | by ( ) www.cnbc.com time to read: +1 min

US climate envoy John Kerry gestures as he speaks next to China's special climate envoy Xie Zhenhua during a session at the World Economic Forum annual meeting in Davos on May 24, 2022. Fabrice Coffrini | Afp | Getty ImagesU.S. climate envoy John Kerry said it was "imperative that China and the United States make real progress" in the four months before the COP28 global climate talks in Dubai, as he met his counterpart Xie Zhenhua in the Chinese capital on Monday. He also urged China to partner with the United States to cut methane emissions and reduce the climate impact of coal-fired power, with the two sides aiming to rebuild trust following a suspension in talks last year. Kerry praised the "incredible job" China has been doing in building up renewable energy capacity but said it had been undercut by the construction of new coal power plants. China has pledged to start reducing coal consumption, but not until 2026, and new coal power project approvals have accelerated since last year.

Persons: John Kerry, Xie Zhenhua, Fabrice Coffrini, Xie, Kerry Organizations: Afp, Getty Locations: Davos, China, United States, Dubai

☆ Paris 2024: Both Russia and Ukraine ‘diametrically opposed’ to Olympic mission, says IOC president
▼ + stars: | 2023-06-22 | by ( Jill Martin | ) edition.cnn.com time to read: +2 min

CNN —International Olympic Committee (IOC) President Thomas Bach has lamented Ukraine and Russia’s “diametrically opposed” views on neutral athletes’ participation in a speech at the 140th IOC Session. In March, the IOC announced a widely criticized recommended pathway to allow Russian and Belarusian athletes to participate in international competitions despite the ongoing invasion of Ukraine. So far, no decision has been taken on Russian and Belarusian athletes’ participation at the 2024 Paris Olympics. The Ukrainian side wants us to totally isolate anyone with a Russian and Belarusian passport. Either position is diametrically opposed to our mission and the Olympic Charter.

Persons: Thomas Bach, Russia’s, ” Bach, Fabrice Coffrini Organizations: CNN — International Olympic Committee, IOC, Getty, Olympic, Olympic Games, CNN, National Olympic Committee Locations: Ukraine, Lausanne, AFP, Russian, Ukrainian, Russia

☆ Vinícius Jr.: Spanish soccer's inaction over racist abuse of Real Madrid star could prove costly for LaLiga
▼ + stars: | 2023-05-25 | by ( Matias Grez | ) edition.cnn.com time to read: +9 min

Except, this week, nobody is talking about the ‘beautiful game’ after the shameful racist abuse of Real Madrid star Vinícius Jr. sent LaLiga into crisis management mode. Instead, it must pass investigations into incidents of racist abuse onto local prosecutors, who deal with them as legal cases. 10 when nine previous incidents of racist abuse seemingly were not enough to spark meaningful action? Vinícius Jr. points to a fan in the stand who allegedly racially abused him during Real Madrid's match at Valencia. Fort says CEOs called Sepp Blatter to ask him to step down as FIFA president.

☆ Alistair Brownlee relives one of the most incredible moments in sports
▼ + stars: | 2023-05-21 | by ( Don Riddell | ) edition.cnn.com time to read: +8 min

CNN —It has been described as one of the most incredible moments in sports, brothers-in-arms at the end of a grueling triathlon race in Cozumel, Mexico. In September 2016, over what were the last 400 yards of the season, triathlete Alistair Brownlee rounded a bend to find his younger brother Jonny in considerable medical distress. Jonny Brownlee (L) is helped after crossing the line in second place during the 2016 ITU World Triathlon Championships. Alistair Brownlee celebrates on the podium after winning gold in the men's triathlon event at the London 2012 Olympic Games. Alistair Brownlee of Great Britain won another gold medal in the men's triathlon at the 2016 Rio Olympic Games.

☆ UBS Refreshes Management Team to Integrate Credit Suisse
▼ + stars: | 2023-05-09 | by ( Margot Patrick | ) www.wsj.com time to read: 1 min

Credit Suisse CEO Ulrich Körner will take charge of operational continuity and client focus. Photo: fabrice coffrini/Agence France-Presse/Getty ImagesUBS said it would integrate Credit Suisse with a freshly composed executive team that includes Credit Suisse’s chief executive and a new chief financial officer. The Swiss banking giant said it is evaluating all options for Credit Suisse’s Swiss business, which some politicians in the country want to be spun off into a separate unit or divested. The merger of the two banks is one of the largest ever by assets.

Peskov did not provide any evidence to his claims, nor additional details regarding the alleged attack, saying that information would be released later. Earlier this week, Russia claimed Ukraine launched a drone strike targeting the Kremlin in an attempt to assassinate Russian President Vladimir Putin, calling it a “planned terrorist attack.” Ukraine has strongly denied any involvement. The United States had nothing to do with this. Fabrice Coffrini/AFP/Getty ImagesRyabkov also accused US officials of trying to “promote the idea of Washington’s non-involvement” in the purported drone attack, TASS reported. “Washington has long been a direct party to the Ukrainian conflict and aims to destroy sovereign Russia,” he said, according to TASS.

☆ FIFA President Threatens Not to Broadcast Women’s World Cup in Europe
▼ + stars: | 2023-05-02 | by ( Rachel Bachman | ) www.wsj.com time to read: 1 min

‘To be very clear, it is our moral and legal obligation not to undersell the FIFA Women’s World Cup,’ FIFA president Gianni Infantino said. Photo: fabrice coffrini/Agence France-Presse/Getty ImagesFor much of the 32-year existence of the Women’s World Cup, FIFA distributed the broadcast rights to the event like a “buy one, get one free” promotion: If broadcasters bought the rights for the men’s World Cup, they also got the rights to the Women’s World Cup. After the 2019 Women’s World Cup drew more than 1 billion global viewers, FIFA began a years-long transition to charging broadcasters a separate fee for the women’s tournament, in line with the event’s audiences.

☆ Swiss central bank promises regulation review after collapse of Credit Suisse
▼ + stars: | 2023-04-28 | by ( Elliot Smith | ) www.cnbc.com time to read: +7 min

Thomas Jordan, president of the Swiss National Bank (SNB), speaks during the bank's annual general meeting in Bern, Switzerland, on Friday, April 28, 2023. Bloomberg | Bloomberg | Getty ImagesThe Swiss National Bank on Friday pledged to review banking regulations during its annual general meeting in Bern, following recent turmoil involving Credit Suisse. The central bank played a key role in brokering the rescue of Credit Suisse over the course of a chaotic weekend in March, as a flight of deposits and plummeting share price took the 167-year-old institution to the brink of collapse. The deal remains mired in controversy and legal challenges, particularly over the lack of investor input and the unconventional decision to wipe out 15 billion Swiss francs ($16.8 billion) of Credit Suisse AT1 bonds. He added that this would mean his central bank could would be able to provide the necessary liquidity, in times of stress, without the need for emergency law.

☆ Credit Suisse logged asset outflows of more than $68 billion during first-quarter collapse
▼ + stars: | 2023-04-24 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

In this article CSG.N-CH0I4P-GB Follow your favorite stocks CREATE FREE ACCOUNTA sign of Credit Suisse bank is seen on a branch building in Geneva, on March 15, 2023. Fabrice Coffrini | AFP | Getty Imageswatch now"In the second half of March 2023, Credit Suisse experienced significant withdrawals of cash deposits as well as non-renewal of maturing time deposits. Customer deposits declined by CHF 67 bn in 1Q23," the bank said. The acquisition is expected to be consummated by the end of this year, if possible, but the full absorption of Credit Suisse's business into UBS Group is expected to take around three to four years. UBS on Monday announced that its Group Chief Risk Officer Christian Bluhm will remain in post due to the planned acquisition of Credit Suisse, delaying a planned May 1 handover 1 to Damien Vogel, who will now take up the newly-created role of group risk control head of integration.

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