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The logo of Swiss private bank Julius Baer is seen at their headquarters in Zurich, Switzerland February 2, 2022. "The strength of the Swiss banks, of the Swiss economy, of the Swiss political system ... I think this is the foundation to be the preeminent number one financial place for cross border wealth management," he told the event. "Everyone is and wants to be in wealth management and everyone sticks to it, even those players who are not as efficient, not as effective as others." He declined to comment on speculation linking Julius Baer with Swiss bank EFG International (EFGN.S).

Persons: Julius Baer, Arnd, Julius Baer's, Philipp Rickenbacher, Rickenbacher, Noele Illien, John Revill, Tomasz Janowski Organizations: REUTERS, Rights, Reuters, UBS, Credit Suisse, Swiss, EFG, Thomson Locations: Zurich, Switzerland, Swiss, United States

☆ Uber increasingly considering buybacks as cash flow ramps up - CEO
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +1 min

The logo of Uber is seen at a temporary showroom at the Promenade road during the World Economic Forum (WEF) 2023, in the Alpine resort of Davos, Switzerland, January 20, 2023. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsSept 7 (Reuters) - Uber Technologies (UBER.N) is considering buybacks and dividends to shareholders as its cash flow ramps up, CEO Dara Khosrowshahi said at an event on Thursday. "We are now entering a phase where we are increasingly thinking about returning the capital to shareholders, either through dividends or buybacks, more likely with buybacks," Khosrowshahi said at the Goldman Sachs Communacopia + Technology conference. Uber in August reported its first-ever operating profit of $326 million for the second quarter ended June. It had more than $1 billion in free cash flow in the period.

Persons: Arnd, Dara Khosrowshahi, Khosrowshahi, Goldman Sachs, Yuvraj Malik, Devika Organizations: Economic, REUTERS, Technologies, Technology, Uber, Thomson Locations: Davos, Switzerland, Bengaluru

☆ Nestle buys majority stake in Brazilian premium chocolate maker
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsZURICH, Sept 7 (Reuters) - Nestle (NESN.S) is buying a majority stake in Brazilian premium chocolate maker Grupo CRM, the Swiss food group said on Thursday. Grupo CRM operates a direct-to-consumer model, with more than 1,000 chocolate boutiques under the Kopenhagen and Brasil Cacau brands and a strong, growing online presence, Nestle said. The executive has been with the company for 25 years and has built up and significantly expanded Grupo CRM, which currently only operates in Brazil. In June, Brazilian competition regulator Cade approved Nestle's acquisition of Chocolates Garoto more than 20 years after it was first announced. Among the conditions for the approval, the company agreed not to make any acquisitions that account for at least 5% of the Brazilian chocolate market for five years.

Persons: Arnd, Nestle, Valor Economico, Renata Moraes Vichi, Laurent Freixe, Cade, John Revill, Friederike Heine, Janane Organizations: Nestle, REUTERS, Rights, Grupo CRM, Brasil, Advent International, Valor, Grupo, Thomson Locations: Konolfingen, Switzerland, Swiss, Brazil

☆ Swiss takeover board rules NewGAMe's partial offer for GAM shares complies with rules
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsAug 31 (Reuters) - Switzerland's takeover board has ruled that a partial offer for up to 28 million shares of GAM Holding (GAMH.S) by an investor group comprising NewGAMe SA and Bruellan SA is in line with Swiss takeover rules, NewGAMe said on Thursday. The arrangement would be also that the investor group would propose new GAM board members at the upcoming extraordinary general meeting (EGM), where the fund manager's current board is expected to stand down. The regulator on Thursday also challenged the validity of the condition making NewGAME's offer conditional to Rock's candidates being elected to GAM's board, NewGAMe said. Last week, a takeover offer from Liontrust won the backing of just 33.64% of GAM's shareholders. ($1 = 0.8830 Swiss francs)Reporting by Kanjyik Ghosh in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: Arnd, NewGAMe, Xavier Niel's NewGAMe, Liontrust, Kanjyik Ghosh, Maju Samuel Organizations: REUTERS, GAM, NewGAMe SA, Bruellan SA, Swiss, Rock Investment, Swiss Financial Market Supervisory Authority, Thomson Locations: Zurich, Switzerland, Bengaluru

☆ Shares in Swiss bank UBS hit highest since late 2008
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +1 min

The logo of Swiss bank UBS is seen at an office building in Zurich, Switzerland February 28, 2020. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsMILAN, Aug 31 (Reuters) - Shares in UBS (UBSG.S) hit their highest level since October 2008 on Thursday, extending a strong run that has put the Swiss bank well ahead of its European rivals following the takeover in March of its struggling rival Credit Suisse. UBS rallied more than 6% early in Zurich, set for its biggest one-day gain since March, after the group said it would fully absorb Credit Suisse's domestic bank and that it was increasing its ambitions for cost savings to over $10 billion. The stock has risen 36% so far in 2023 against a 13.5% gain for the broader European banking index (.SX7P). (This story has been refiled to change the dateline to Aug. 31, and not Aug. 30)Reporting by Danilo Masoni Editing by Amanda Cooper and David GoodmanOur Standards: The Thomson Reuters Trust Principles.

Persons: Arnd, Danilo Masoni, Amanda Cooper, David Goodman Organizations: Swiss, UBS, REUTERS, Credit Suisse, Deutsche Bank, Thomson Locations: Zurich, Switzerland, Swiss

The logo of U.S. fast food group Burger King is seen at a restaurant in Bruettisellen, Switzerland October 11, 2016. U.S. District Judge Roy Altman in Miami said Burger King must defend against a claim that its depiction of Whoppers on in-store menu boards mislead reasonable customers, amounting to a breach of contract. He dismissed claims based on TV and online ads, finding none in which Burger King promised a burger "size," or patty weight, and failed to deliver it. Burger King and its lawyers did not immediately respond to requests for comment on Tuesday. The case is Coleman et al v Burger King Corp, U.S. District Court, Southern District of Florida, No.

Persons: Burger, Arnd, Roy Altman, Burger King, Altman, Taco Bell, Coleman, Jonathan Stempel, David Holmes Organizations: REUTERS, Restaurant Brands, Yum Brands, Burger King Corp, Court, Southern District of, Thomson Locations: Bruettisellen, Switzerland, U.S, Miami, Burger, Brooklyn , New York, Brooklyn, Southern District, Southern District of Florida, New York

☆ UBS, Swiss finance blog settle Credit Suisse legacy lawsuit
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +1 min

The logo of Swiss bank UBS is seen at the company's office at the Bahnhofstrasse in Zurich in this July 1, 2009, photo. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsZURICH, Aug 29 (Reuters) - UBS (UBSG.S) and Inside Paradeplatz have settled a lawsuit initially brought against the popular Zurich based finance blog by Credit Suisse, the publication said on Tuesday. A spokesperson for UBS confirmed that the Swiss bank and blog had settled the case. Credit Suisse launched a lawsuit against the blog, widely read in Swiss finance circles, in December over user comments left under posts. It is the second Credit Suisse case that UBS has resolved since taking over its former rival and inheriting its legal battles.

Persons: Arnd, Noele Illien, Friederike Heine Our Organizations: Swiss, UBS, Rights, Credit Suisse, Suisse, Archegos Capital Management, Thomson Locations: Zurich, Swiss, U.S

☆ US will resolve Tesla Autopilot probe, could make announcement soon - official
▼ + stars: | 2023-08-24 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsCompanies Tesla Inc FollowWASHINGTON, Aug 24 (Reuters) - The National Highway Traffic Safety Administration (NHTSA) will resolve its two-year investigation into Tesla (TSLA.O) Autopilot and could make a public announcement soon, the agency's acting head told Reuters. "We'll get to a resolution (of the Tesla probe)," Acting NHTSA Administrator Ann Carlson told Reuters in an interview at the agency's headquarters. The agency is investigating the performance of Autopilot after identifying more than a dozen crashes in which Tesla vehicles struck stopped emergency vehicles. It is also investigating whether Tesla vehicles adequately ensure drivers are paying attention when using the driver assistance system. In June 2022, NHTSA upgraded the probe into 830,000 Tesla vehicles it first opened in August 2021 to an engineering analysis - a required step before it could potentially demand a recall.

Persons: Arnd, We'll, Tesla, Ann Carlson, It's, David Shepardson, Mark Porter, Daniel Wallis Organizations: REUTERS, WASHINGTON, Traffic Safety Administration, Tesla, Reuters, NHTSA, Thomson Locations: Bern, Switzerland

☆ Campaigners threaten EU with legal action over climate policy
▼ + stars: | 2023-08-24 | by ( Kate Abnett | ) www.reuters.com time to read: +2 min

The EU law in question is one of more than a dozen policies designed to reduce the bloc's net emissions by 55% by 2030 from 1990 levels. That is one of the most ambitious climate targets of any major economy, but the campaigners want it lifted to 65%. The European Commission is examining the request, a spokesperson said. "The Commission does not consider this implementing decision to be in breach of fundamental rights," the spokesperson added, referring to the EU law. All EU countries have approved the collective 55% emissions target, which is fixed into law.

Persons: Andreas Linsbauer, Andrea Millhaeusler, Arnd, Romain Didi, Didi, Kate Abnett, William Maclean, Devika Organizations: REUTERS, Rights, Environmental, European Commission, Union, EU, Reuters, European, Thomson Locations: Pontresina, Switzerland, Europe, Brussels, EU, Paris

☆ Liontrust faces $14 million one-off charge after GAM offer failure
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +1 min

The logo of GAM investment management company is seen at its headquarters in Zurich, Switzerland July 29, 2019. The British company said it had secured backing from shareholders representing a total of 53,250,357 GAM Shares, corresponding to 33.45% of total stock subject to its offer. "Liontrust made a full and fair offer for GAM, which reflected the financial reality of the business and would have provided a certain and sustainable solution," John Ions, Liontrust CEO said in a statement. "We are disappointed we did not win the support of the majority of GAM's shareholders and are grateful to those GAM and Liontrust shareholders who did back our offer," he said. Separately on Thursday, GAM said it had begun "constructive and productive" refinancing discussions with representatives of the investor group Newgame.

Persons: Arnd, Liontrust, John, Sinead Cruise, Lawrence White Organizations: REUTERS, Liontrust, Management, GAM, AG, Thomson Locations: Zurich, Switzerland, Swiss, British

REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsZURICH, Aug 24 (Reuters) - GAM (GAMH.S) has entered into discussions with French billionaire Xavier Niel's NewGAMe shareholder group after a takeover offer from Britain's Liontrust failed to gain the required level of support. "The GAM Board acknowledges that the majority of our shareholders have not found the Liontrust Offer compelling. GAM shares fell 5.08% shortly after market open, whereas Liontrust recorded a 10.37% gain. Liontrust had made its offer conditional on winning the backing of two-thirds of GAM's shareholders in a prospectus it published in June. The investor group, led by Niel's NewGAMe and asset manager Bruellan, have vehemently opposed the all-share offer, saying in July that it "grossly undervalues GAM".

Persons: Arnd, Xavier Niel's, Britain's Liontrust, Liontrust, GAM's, David Jacob, Niel's NewGAMe, Bruellan, Brenna Hughes, Friederike Heine, Jason Neely, Christina Fincher Organizations: REUTERS, Rights, GAM, Thomson Locations: Zurich, Switzerland, British, Liontrust

☆ Tesla shares gain as Baird Equity adds stock to 'best ideas' list
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +2 min

The logo of car manufacturer Tesla is seen at a branch office in Bern, Switzerland October 28, 2020. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsAug 21 (Reuters) - Electric-vehicle maker Tesla's (TSLA.O) shares rose 4.5% on Monday, snapping a six-session losing streak, after brokerage Baird Equity Research added the stock to its "best ideas" list. Bearish investors will point to lower production, said Baird, but added Tesla was still on pace to achieve its production forecast of 1.8 million vehicles this year. Tesla sparked a price war earlier this year and last week slashed prices of three models in China. Reporting by Akash Sriram and Jaspreet Singh in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Arnd, Baird, Tesla, Rivian, Akash Sriram, Jaspreet Singh, Krishna Chandra Organizations: REUTERS, Equity Research, stoke, Apple, Ford Motor, Thomson Locations: Bern, Switzerland, China, Bengaluru

☆ Tesla warns Core Lithium of potential lawsuit over failed deal
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +1 min

The logo of car manufacturer Tesla is seen at a branch office in Bern, Switzerland October 28, 2020. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsAug 17 (Reuters) - Core Lithium (CXO.AX) has received a notice from electric-vehicle maker Tesla (TSLA.O) over a 2022 supply agreement that failed to materialize within the set deadline, the Australian miner said. The two companies failed to reach a deal by Oct. 26, 2022, as decided earlier, and now Tesla would take "all available legal remedies" unless the parties mutually resolve the matter, Core lithium said in a presentation on Wednesday. Tesla and Core Lithium did not respond to Reuters' requests for comments. The lithium producer was negotiating with Tesla to supply 110,000 tonnes of spodumene from its Finniss project in Australia's Northern Territory.

Persons: Arnd, Tesla, Elon, Sourasis Bose, Shinjini Organizations: REUTERS, Tesla, General Motors, Ford, Australia's Liontown, Thomson Locations: Bern, Switzerland, Northern Territory, Bengaluru

☆ UBS names 21 country heads across EMEA region -memo
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: 1 min

The logo of Swiss bank UBS is seen at the company's office at the Bahnhofstrasse in Zurich in this July 1, 2009, photo. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsCompanies UBS Group AG FollowZURICH, Aug 17 (Reuters) - UBS has appointed or confirmed 21 country heads across the EMEA region, according to an internal memo seen by Reuters on Thursday. Five of the positions will be filled by employees from recently acquired Credit Suisse, the memo sent to employees by executive board member Beatriz Martin said. Reporting by Noele Illien; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Arnd, Beatriz Martin, Noele, Jason Neely Organizations: Swiss, UBS, UBS Group, Reuters, Credit Suisse, Thomson Locations: Zurich, EMEA

The logo of Tyson Foods is seen in Davos, Switzerland, May 22, 2022. While it was not immediately clear what valuation Tyson Foods is seeking for the China poultry business, it has annual sales of about $1.1 billion, one of the people said. Springdale, Arkansas-based Tyson Foods and Goldman Sachs declined to comment. Calls to Tyson Foods' China headquarters in Shanghai went unanswered. In the food industry, U.S. agricultural giant Cargill struck a deal in May to sell its China poultry business to private equity firm DCP Capital for an undisclosed price.

Persons: Arnd, Goldman Sachs, Tyson, Cargill, Hope Liuhe, Kane Wu, Abigail Summerville, Roxanne Liu, Tom Polansek, Jamie Freed Organizations: Tyson Foods, REUTERS, HONG KONG, Goldman, Capital, Reckitt, Primavera Capital Group, Industrial, Thomson Locations: Davos, Switzerland, HONG, China, Springdale , Arkansas, Shanghai, Russia, Ukraine, Mongolia, Nantong, Xiaogan, Hong Kong, New York, Beijing, Chicago

☆ Tesla launches new and cheaper Model S and X cars in US
▼ + stars: | 2023-08-15 | by ( ) www.reuters.com time to read: +1 min

The logo of car manufacturer Tesla is seen at a branch office in Bern, Switzerland October 28, 2020. REUTERS/Arnd Wiegmann/File PhotoCompanies Tesla Inc FollowAug 14 (Reuters) - Tesla (TSLA.O) introduced new standard range Model S and Model X cars in the United States, priced cheaper than the other versions of the S and X models, the automaker's website showed on Monday. The new S and X models were priced at $78,490 and $88,490, respectively, the website showed. The company delivered 19,225 Model X and S vehicles in the second quarter compared to 16,162 vehicles it delivered last year. Reporting by Mrinmay Dey in Bengaluru; Editing by Rashmi Aich and Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

Persons: Arnd, Tesla, Mrinmay Dey, Rashmi Aich Organizations: REUTERS, Thomson Locations: Bern, Switzerland, United States, China, U.S, Bengaluru

☆ TPG approaches EY about buying stake in consulting arm - FT
▼ + stars: | 2023-08-15 | by ( ) www.reuters.com time to read: +1 min

The logo of Ernst & Young is seen in Zurich, Switzerland November 13, 2020. REUTERS/Arnd Wiegmann/file photo Acquire Licensing RightsAug 15 (Reuters) - Private equity group TPG Capital has approached accounting giant Ernst & Young (EY) about buying a stake in its consulting arm, Financial Times reported on Tuesday, citing a letter it had reviewed. TPG outlined its plan for a debt-and-equity deal to separate the consulting arm from EY's audit business in a letter sent to the firm's global and U.S. bosses, the FT report added. TPG and EY did not immediately respond to Reuters' requests for a comment. In September last year, EY announced its plans to split its audit and consulting units into two companies after regulators voiced concerns that the audit arm would not do its job fairly for its client if it also employed EY as a consultant.

Persons: Young, Arnd, EY, Manya Saini, Shilpi Majumdar Organizations: Ernst, REUTERS, TPG Capital, Financial, TPG, EY, Big, Thomson Locations: Zurich, Switzerland, U.S, Bengaluru

☆ Tesla cuts prices in China for some Model Y versions
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +1 min

The logo of car manufacturer Tesla is seen at a branch office in Bern, Switzerland October 28, 2020. REUTERS/Arnd Wiegmann/File PhotoCompanies Tesla Inc FollowBEIJING, Aug 14 (Reuters) - Tesla Inc (TSLA.O) has cut prices in China for its Model Y long-range and performance versions starting on Aug. 14, the company said in a notice on Monday. The car company dropped the starting prices of both models by 14,000 yuan ($1,934.58). The Model Y Long Range's starting price drops 4.5% to 299,900 yuan and the starting price of the Model Y Performance is now 349,900 yuan, down 3.8%. Last month Tesla CEO Elon Musk said further price cuts were a possibility, even if it squeezed the automaker's margins.

Persons: Arnd, Tesla, Elon Musk, Liz Lee, Christian Schmollinger, Tom Hogue Organizations: REUTERS, Inc, BEIJING, Tesla Inc, Tesla's, China Passenger Car Association, Shanghai, Thomson Locations: Bern, Switzerland, China, United States, Tesla's China

The logo of Swiss bank UBS is seen at the company's office at the Bahnhofstrasse in Zurich in this July 1, 2009 file photo. REUTERS/Arnd Wiegmann/File PhotoWASHINGTON/NEW YORK, Aug 14 (Reuters) - UBS (UBSG.S) agreed to pay $1.435 billion to settle U.S. charges that the Swiss lender misled investors into buying troubled mortgage securities, concluding an industrywide probe into a root cause of the 2008 global financial crisis. The largest settlement, $16.65 billion, was reached in 2014 with Bank of America (BAC.N), which had bought mortgage specialist Countrywide Financial six years earlier. Credit Suisse, which UBS bought in June, reached a similar $5.28 billion settlement in 2017. In a press release, UBS said it previously set aside reserves to cover the $1.43 billion payout.

Persons: Arnd, RMBS, Attorney Breon, Kanishka Singh, Jonathan Stempel, Mark Porter, Jonathan Oatis Organizations: Swiss, UBS, WASHINGTON, U.S . Department of Justice, Bank of America, Countrywide Financial, Credit Suisse, U.S, Attorney, Thomson Locations: Zurich, Brooklyn, Washington, New York

☆ UBS ends state guarantee granted over Credit Suisse rescue
▼ + stars: | 2023-08-11 | by ( Noele Illien | ) www.reuters.com time to read: +3 min

The Swiss government provided 9 billion francs ($10.3 billion) of loss protection guarantees to UBS as part of the state-sponsored takeover of Credit Suisse earlier this year. UBS also said that Credit Suisse had fully repaid an Emergency Liquidity Assistance Plus (ELA+) loan of 50 billion francs to the SNB. "The early voluntary repayment could potentially also help in other matters, such as negotiating the retention of the Credit Suisse Swiss business, in our view," Citi analyst Andrew Coombs said. Credit Suisse and UBS also borrowed 168 billion francs from the SNB in various emergency liquidity schemes to ease the takeover. Government help included a guarantee of up to 9 billion francs for losses UBS might incur from the sale of Credit Suisse assets, beyond 5 billion francs that UBS agreed to cover itself.

Persons: Arnd, ELA, Andreas Venditti, Andrew Coombs, Switzerland's, Noele, Jacqueline Wong, Mark Potter Organizations: Swiss, UBS, REUTERS, Suisse, Credit Suisse, Swiss National Bank, Confederation, Credit Suisse Swiss, Citi, Reuters, Thomson Locations: Zurich, ZURICH, Swiss

An employee of a private security company stands in front of the logo of commodities trader Glencore during the company's annual shareholder meeting in Cham, Switzerland May 24, 2017. Analysts at Deutsche Bank had expected half-year earnings of $9.9 billion, while Citi's estimate was $11.4 billion. The company announced additional returns of around $2.2 billion, including a $1 billion special dividend and a $1.2 billion share buyback programme that will run until February 2024. Glencore in June offered to buy Teck's coal business as a standalone unit, having been rebuffed twice in its $22.5 billon bid to combine the two companies. As part of the deal, Glencore would spin-off and merge its thermal coal business with Teck's steelmaking coal one to form a separate New York-listed company.

Persons: Arnd, Glencore, Gary Nagle, Nagle, MARA, didn't, Bunge, Clara Denina, Pratima Desai, Kirsten Donovan Organizations: REUTERS, Canada's, Canada's Teck Resources, Tinto, Teck Resources, Deutsche Bank, Citi, U.S, Thomson Locations: Cham, Switzerland, Canada's Teck, Teck, China, New York, London, U.S

[1/2] The logo of German industrial group Siemens is seen at an office building in Zug, Switzerland December 1, 2021. REUTERS/Arnd Wiegmann/File PhotoCompanies Siemens AG FollowVIENNA/MUNICH, Aug 8 (Reuters) - Siemens (SIEGn.DE) is cooperating with authorities in Austria on an investigation into allegations of possible corruption related to hospital building contracts. Siemens said the investigation was based on information the company had provided to the public prosecutor's office in the course of an ongoing compliance investigation. "Siemens is cooperating fully with the authorities," the engineering company said, adding that it would not comment on ongoing investigations. Austrian prosecutors said that five people had been arrested as part of the investigation, with several house searches taking place last week.

Persons: Arnd, Feldkirch, KHBG, Martina Ruescher, Alexandra Schwarz, Alexander Huebner, John Revill, Friederike Heine, Miranda Murray, David Goodman, Louise Heavens Organizations: Siemens, REUTERS, Companies Siemens AG, Welt, Smart Infrastructure, Thomson Locations: Zug, Switzerland, MUNICH, Austria, Vorarlberg, Vienna, Munich

The logo of Tyson Foods is seen in Davos, Switzerland, May 22, 2022. REUTERS/Arnd Wiegmann/File PhotoAug 7 (Reuters) - Tyson Foods (TSN.N) missed Wall Street expectations for third-quarter revenue and profit on Monday, hurt by falling chicken and pork prices as well as slowing demand for its beef products. The company said it is closing four more U.S. chicken plants in a bid to reduce costs. The company's average sales prices fell 16.4% for pork and 5.5% for chicken, while rising 5.2% for beef. Tyson has eliminated U.S. jobs and already shut two chicken processing plants in a bid to reduce costs.

Persons: Arnd, Tyson, Granth, Tom Polansek, Milla Nissi Organizations: Tyson Foods, REUTERS, Hormel, packers, Rabobank, Thomson Locations: Davos, Switzerland, Bengaluru, Chicago

[1/2] The logo of U.S. software company Palantir Technologies is seen in Davos, Switzerland January 22, 2020. REUTERS/Arnd Wiegmann/File PhotoAug 7 (Reuters) - Palantir Technologies (PLTR.N) raised its annual revenue forecast on Monday and said it would buy back shares worth up to $1 billion as the data analytics software maker enjoys "unprecedented demand" for its artificial intelligence platform. The company launched the platform, which includes an AI assistant that can help enterprises make decisions about their operations, in April. Its second-quarter sales and third-quarter revenue forecast were also above estimates, according to Refinitiv data. Still, the company expects full-year 2023 revenue to come in above $2.21 billion, compared with its earlier forecast of $2.19 billion to $2.24 billion.

Persons: Arnd, Alexander Karp, Palantir, David Glazer, Glazer, Chavi Mehta, Shinjini Organizations: Palantir Technologies, REUTERS, Investors, Central Intelligence Agency, Thomson Locations: Davos, Switzerland, Europe, Bengaluru

The logo of Swiss bank UBS is seen at its headquarters in Zurich, Switzerland October 25, 2022. UBS was 8th in Refinitiv's global M&A league table in the first half of 2023, down from 6th a year earlier. Steve Pettigrew, who just joined UBS from Bank of America Corp (BAC.N), would be leading software M&A under Braham, according to the sources. Some Credit Suisse technology bankers may lose their jobs as part of the shake-up, while others may be retained or also be promoted, the sources said. Reuters reported on Wednesday that Credit Suisse had initiated broad layoffs in New York.

Persons: Sergio Ermotti, Laurence Braham, Lesueur, Steve Pettigrew, Braham, Neil Meyer, Milana Vinn, Amy, Jo Crowley, Jane Merriman Organizations: Swiss, UBS, REUTERS, UBS Group AG, Credit Suisse, Swiss Re AG, Barclays Plc, Bank of America Corp, Barclays, Reuters, Suisse, Credit Suisse's, Thomson Locations: Zurich, Switzerland, Swiss, dealmaking, United States, Americas, New York, London

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