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☆ These 9 global stocks have raised dividends for the last 30 years
▼ + stars: | 2023-06-07 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Nine global stocks have raised dividends every year for the past three decades, according to CNBC Pro analysis. Of about 92,000 global stocks screened by CNBC Pro, the following nine consistently rewarded their shareholders. Novartis' stock has been on an upward trend recently – rising 8.9% year to date – after moving sideways for more than six months. Novartis' dividend yield is currently 3.5%. NOVNEE-CH 1Y line Roche Like its peer Novartis, Roche , the pharmaceuticals and diagnostics company headquartered in Basel, Switzerland, offers a 3.3% dividend yield.

Persons: Maurice Choy, . Choy, Eric Le Berrigaud, Roche, Luisa Hector, James Halstead Organizations: CNBC, CNBC Pro, Fortis Canadian, Fortis, RBC Capital, Novartis, Roche, Pharma, Sage Group, Kerry Locations: Novartis Swiss, Basel, Switzerland, ROG, Spirax, Saco

☆ I went sober in my mid-20s and became more confident at work and less anxious
▼ + stars: | 2023-06-06 | by ( Sarah Wood | ) www.businessinsider.com time to read: +7 min

Sarah Wood, 27, says she drank to fit in socially and at work events even as it made her anxious. How stopping drinking affected my work lifeStopping drinking was a personal decision, so I never considered how it might affect my work life. Sobriety made my life at work better tooFeeling as if I could bring my whole self to work and be accepted for it further boosted my confidence. I strongly believe that sobriety has only positively affected my work life. Sobriety hasn't hurt my work life, but that's only my experience.

Persons: Sarah Wood, Wood, —, I've, Eager, Goldman Sachs, I'm, hadn't, they'd Organizations: Service, College, Art Basel Locations: New York, New York City, Miami

Most big bank stocks were trading lower in afternoon trading with the S&P 500 banking index (.SPXBK) down nearly 1% on Monday. U.S. regulators, led by the Federal Reserve, are also expected to propose this month increasing average bank capital requirements by as much as 20% a person familiar with the matter told Reuters. Regional bank stocks also logged broad declines on Monday, with the KBW Regional Banking Index (.KRX) shedding 2%. The impending international capital rules come amid a broader Fed review of lenders' capital requirements. "It's not shocking that you should expect to see some capital requirements being increased and a little more oversight is expected given what has happened with regional banks," Janasiewicz said.

Persons: Wells, Goldman, Morgan Stanley, Jack Janasiewicz, Janasiewicz, Chibuike Oguh, Manya Saini, Michelle Price, Lance Tupper, Aurora Ellis Organizations: YORK, JPMorgan Chase &, Wells Fargo & Co, Goldman Sachs Group Inc, Citigroup, Bank of America Corp, Treasury, Natixis Investment, U.S, Federal Reserve, Reuters, Street Journal, Basel Committee, KBW, PacWest Bancorp, Western Alliance, Comerica Inc, Thomson Locations: U.S, Basel, Regional, New York

☆ After the turmoil in regional banks, here comes new regulation
▼ + stars: | 2023-06-05 | by ( Jeffrey Cane | ) www.businessinsider.com time to read: +4 min

Biggest US banks could see 20% boost in capital requirements, Wall Street Journal reports. Midsize regional banks underwent extreme stress earlier this year, with First Republic and two others failing, yet the biggest banks in the US may be the ones hit with tougher regulatory rules. The proposals are expected as soon as this month and will vary based on the bank's businesses, according to the Journal. After the financial crisis of 2007-2008, regulators worldwide sought to bolster banks' capital requirements. And the recent turmoil in the US regional banks only underscored the current strength of the mega banks, suggesting that the focus on increasing capital at the biggest institutions was misplaced.

Persons: JPMorgan Chase, Goldman Sachs –, Banks, Morgan Stanley, Jamie Dimon, Jane Fraser Organizations: Wall Street, Morning, First, Street Journal, Banks, JPMorgan, Federal Reserve, Basel III, Committee, America Locations: First Republic, Basel

☆ G20 watchdog to study Silicon Valley Bank, Credit Suisse turmoil
▼ + stars: | 2023-06-01 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

European banking stocks plunged after the collapse of Silicon Valley (SVB) bank in the U.S. in March, creating turmoil that lead to the forced takeover of ailing Credit Suisse by UBS in Switzerland. Knot, who also heads the Dutch central bank, said the FSB has begun evaluating lessons from how the U.S. and Swiss authorities had responded to these events. "Why did FINMA, the Swiss supervisor, use a market and not a resolution solution to enable this sale? After all, we have come a long way in improving crisis preparedness in the banking sector," Knot told an event held by the European Banking Federation. Social media is also having an impact on the financial sector with one tweet able to cause a bank run to create liquidity problems, Knot said.

Persons: Klaas Knot, SVB, Huw Jones, Jason Neely, Sharon Singleton Organizations: Suisse, UBS, Basel III, European Banking Federation, Regulators, Thomson Locations: Silicon, U.S, Switzerland, Basel, Swiss

☆ Analysis: Investment banking faultlines trigger European job shake-up
▼ + stars: | 2023-05-19 | by ( Sinead Cruise | ) www.reuters.com time to read: +5 min

Applications for financial services roles globally rose by 67% in the first quarter of 2023 against the same period last year, according to eFinancialCareers. Britain has already said it will scrap a cap on bank bonuses under plans to attract global financial sector talent. Worries about possible contagion triggered by the frailty of the U.S. regional banking system have also put some bank staff on a quest for more secure employment, sources say. Duncan Finlayson, managing director of the FinTech & Financial Services practice at Raines International, said some wanted meetings with chief financial officers to better understand the financial health of prospective employers. "Without a doubt some of the more established financial services platforms are under more heavy scrutiny," he said.

☆ Novartis names Sandoz board members ahead of spin-off
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: +1 min

ZURICH, May 15 (Reuters) - Novartis (NOVN.S) on Monday named the intended new board members of Sandoz, the generics business it plans to spin off to shareholders later this year. The Basel company approved the recommendations of Sandoz Chairman-designate Gilbert Ghostine for the 10 members of the board, which will start preparatory work in June. Others to be appointed to the board include former Novartis executive Karen Huebscher, Aarti Shah, who worked at Eli Lilly (LLY.N), and Deutsche Lufthansa (LHAG.DE) CFO Remco Steenburgen. Unilever (ULVR.L) Chief Legal Officer Maria Varsellona, and former Procter & Gamble (PG.N) executive Yannis Skoufalos, complete the nominations to the committee. "The Sandoz Board of Directors will start preparatory work from June onwards and will be effective following the planned spin-off of Sandoz in the second half of 2023, subject to Novartis Board of Directors and shareholder approval," Novartis said on Monday.

☆ Madonna's 'Sex' photos go to auction for the first time at Christie's
▼ + stars: | 2023-05-12 | by ( Carlie Porterfield | ) edition.cnn.com time to read: +5 min

Prints of photographs from Madonna’s wildly popular 1992 coffee table book “Sex” will be available for purchase for the first time at Christie’s New York this fall, part of ongoing projects to mark the 30th anniversary of the controversial publication. In October, over 40 prints first published in “Sex” will go up for sale as part of a special standalone auction. “Thirty years on, ‘Sex’ is still somewhat controversial, but it still reads as a very body-positive, sex-positive book,” Himes said. “Sex” also featured Madonna’s then-boyfriend, rapper Vanilla Ice, and stars like supermodel Naomi Campbell and socialite Tatiana von Fürstenberg. The prints will go on display at Christie's galleries in London, Paris and New York before the October auction.

☆ Salah on verge of becoming top-scoring Egyptian of all time
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +1 min

May 5 (Reuters) - Liverpool forward Mohamed Salah will become the highest scoring Egyptian of all time if he scores against Brentford in the Premier League at Anfield on Saturday. Salah has scored 185 times for Liverpool since joining the Merseyside club in 2017 and will catch former captain Steven Gerrard, the fifth-highest scorer in Liverpool history, with another goal. Egypt's 30-year-old skipper Salah is Liverpool's record Premier League scorer with 136 goals. Salah's other club goals came at AS Roma (34), Fiorentina (9), Chelsea (2), Basel (20) plus 12 for his childhood club Al-Mokawloon Al-Arab. Liverpool are fifth in the Premier League standings on 59 points, four behind fourth-placed Manchester United who have a game in hand in the race for Champions league places.

☆ Opinion | The Met Gala, or When Fashion Consumes Art
▼ + stars: | 2023-05-01 | by ( Natasha Degen | ) www.nytimes.com time to read: +1 min

The Met Gala began in 1948 as a $50 fund-raising dinner. The fanfare surrounding the event takes center stage: celebrity selfies, red-carpet gossip and attention-seeking fashion stunts. The Met Gala is perhaps the most high-profile example of a much broader phenomenon: the accelerating convergence of art and fashion. It raises millions for the Met ($17.4 million last year) and generates more “media impact value” than the Super Bowl. Michael Burke has called the Met Gala “the pinnacle of our business.”

In March, depositors fled Silicon Valley Bank (SIVB.O), withdrawing $42 billion in 24 hours, some via their mobile phones. Information about the bank's difficulties spread fast online, creating a social media-driven bank run. Officials said the bank turbulence added urgency to discussions of a European Commission proposal to broaden the EU's bank resolution framework, now applied to just over 100 of the biggest European banks, to smaller and medium-sized lenders. The proposal, called Crisis Management and Deposit Insurance (CMDI) was requested by EU finance ministers in mid-2022. It would ensure that the resolution of smaller banks could be paid for from the EU's resolution fund, financed by banks, rather than by taxpayers.

☆ Powerful Swiss central bank faces reform calls in wake of Credit Suisse rescue
▼ + stars: | 2023-04-28 | by ( John Revill | ) www.reuters.com time to read: +6 min

[1/2] The Swiss National Bank (SNB) building is seen near the Limmat river in Zurich, Switzerland March 23, 2023. The governance concerns have been brought centre-stage by the search for a new member to replace Andrea Maechler, the first woman to serve on the SNB's governing board. The Swiss parliament would have to approve any expansion of the SNB's board. Still, the SNB Observatory, a group of economists set up to stimulate a debate about the SNB, has suggested that the small committee meant the central bank was susceptible to group think. Thomas Stucki, a former head of asset management at the SNB, said it was typical for central bank chairmen to dominate decision-making.

☆ Roche Q1 sales decline tempered by swift uptake of new eye drug
▼ + stars: | 2023-04-26 | by ( Ludwig Burger | ) www.reuters.com time to read: +2 min

[1/2] The logo of Swiss drugmaker Roche is seen at its headquarters in Basel, Switzerland January 30, 2020. Quarterly group revenue fell to 15.3 billion Swiss francs ($17.2 billion), the company reported on Wednesday, beating market expectations of 14.8 billion francs. The company, which does not report earnings for its first and third quarter, reiterated that pandemic-related sales - mainly lab testing, antibody treatment Ronapreve and repurposed arthritis drug Actemra - would drop by 5 billion francs this year. "We are very happy with the very rapid and significant uptake in the different markets around the world," he said on a media call. Sales and core earnings per share were still expected to decrease at a "low single-digit" percentage in 2023, the pharmaceuticals and diagnostics company added.

☆ South Korea to join global stress test on banks
▼ + stars: | 2023-04-24 | by ( ) www.reuters.com time to read: +1 min

SEOUL, April 24 (Reuters) - South Korea will voluntarily join a global stress test on banks, hoping to gain from a thorough analysis of risks they face on an international level, the country's central bank and its financial regulator said on Monday. The Bank of Korea and the Financial Supervisory Service said in a joint statement that the country has decided to join the test led by the Financial Stability Board and the Basel Committee on Banking Supervision. The test involves countries submitting data on their banks so that it can be analysed and compared on a global context. "It will allow (the participating countries) to conduct an elaborate assessment of financial stability on a global level such as contagion effects due to the global interconnection," the South Korean agencies said. South Korea is not required to join the test as none of its banks are classified as globally systemically important banks, but is keen on monitoring global contagion risks.

☆ Banking turmoil questions begin at board level, says Basel's de Cos
▼ + stars: | 2023-04-12 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

These events marked the first real stress test of banks since the global financial crisis of 2007-09, de Cos told an Institute of International Finance roundtable in Washington. While it was unlikely a single culprit was to blame, he said the "whodunnit" task should start with bank boards. "A bank’s board, senior management and risk management function should be asking themselves questions in a timely fashion and taking credible measures to shore up resilience," de Cos said. De Cos also said supervisors should also ask tough questions and take "decisive action" to ensure safety and soundness of banks. Mark Carney, former governor of the Bank of England and former chair of the Financial Stability Board (FSB), the G20 watchdog that drove through post-global financial crisis reforms of banking rules, has called for a rethink of bank liquidity rules.

Goldman Sachs is attractively priced with minimal risk ahead, according to UBS. UBS thinks that heightened levels of uncertainty in the market — particularly surrounding banking stocks — presents a tailwind for the banking giant's trading businesses. Analyst Brennan Hawken upgraded shares to buy from neutral in a Tuesday note. The analyst noted that even as revenue in the investment banking sector declined last year, the strength of Goldman Sachs' trading business helped offset that slowdown. Total trading was up 16% in 2022, which Hawken notes was the best among U.S. big banks, while investment banking revenue dropped 48%.

☆ BoE's Bailey says bank reforms worked but questions about liquidity buffers
▼ + stars: | 2023-04-12 | by ( Huw Jones | ) www.reuters.com time to read: +4 min

"Today I do not believe we face a systemic banking crisis. Bailey, however, echoed calls from his predecessor Mark Carney by saying there might be questions over the size of liquidity buffers required of banks in order to tide them over short-term shocks. This must beg the question of what are appropriate and desired liquidity buffers that create the time needed to take action to solve the problem." Data from the European Central Bank on Wednesday showed a slight weakening in liquidity buffers at banks it regulates, though they are still well above minimum requirements. Banks' holdings of liquidity have more than doubled since the global financial crisis, helping to contain fallout from the recent banking turmoil, de Cos said.

☆ How to avoid the next crisis? Banks may have to hold more cash
▼ + stars: | 2023-04-12 | by ( Anna Cooban | ) edition.cnn.com time to read: +4 min

London CNN —Regulators must learn “important lessons” from this year’s banking turmoil, the world’s top financial watchdog has said. Requiring banks to hold more cash to pay out depositors may be one of them. External shocks that have roiled global markets in recent years include the coronavirus pandemic and Russia’s invasion of Ukraine. In other words, banks could be told to hold more assets that can be easily converted into cash to pay back creditors in times of crisis. In the United States, the Federal Deposit Insurance Corporation said it would guarantee all deposits held within Silicon Valley Bank, including those above $250,000 per person.

☆ Yellen says vigilant to downside economic risks, but don't 'overdo the negativism'
▼ + stars: | 2023-04-11 | by ( Andrea Shalal | ) www.reuters.com time to read: +4 min

REUTERS/Elizabeth FrantzWASHINGTON, April 11 (Reuters) - U.S. Treasury Secretary Janet Yellen on Tuesday said she remained vigilant to downside risks facing the global economy, given Russia's ongoing war against Ukraine and banking pressures, but the overall outlook was "reasonably bright." Yellen, speaking at a news conference, pushed back against warnings by the International Monetary Fund of bigger risks associated with severe financial tensions. "I wouldn't overdo the negativism about the global economy," Yellen said, when asked about a slightly trimmed IMF global growth forecast for 2023 which warned that a flare-up of financial system turmoil could slash output to near recessionary levels. She said the U.S. banking system remained sound, with strong capital and liquidity positions, and the global financial system is resilient due to the significant reforms enacted after the 2008 financial crisis. Yellen told reporters the global economy was in a better place than projected last fall, with energy and food prices having stabilized and supply chain pressures continuing to ease.

☆ Yellen says vigilant to downside risks given war in Ukraine, banking pressures
▼ + stars: | 2023-04-11 | by ( Andrea Shalal | ) www.reuters.com time to read: +3 min

WASHINGTON, April 11 (Reuters) - U.S. Treasury Secretary Janet Yellen said she remained vigilant to downside risks facing the global economy, given the negative economic consequences of Russia's war against Ukraine and recent pressures on banking systems in the United States and elsewhere. A price cap on Russian oil was helping to stabilize global energy markets while reducing Russia’s primary source of revenue, she added. The U.S. banking system remains sound, with strong capital and liquidity positions, and the global financial system is resilient due to the significant reforms enacted after the 2008 financial crisis, she said. DEBT OVERHANGYellen said high debt burdens posed a "significant economic headwind for too many countries," with more than half of all low-income countries near or in debt distress, and called for steps to improve the international debt restructuring process. Yellen also called for completion of a debt treatment for Zambia and the rapid establishment of a creditor committee for Ghana.

☆ The Art Market Is All About the 0.1%
▼ + stars: | 2023-04-07 | by ( Carol Ryan | ) www.wsj.com time to read: 1 min

Billionaires’ selective taste in art means they tend to compete for the same works. The art market is starting to look like a painting that has too much of the action crammed into one corner. Artworks worth an estimated $67.8 billion were sold globally in 2022, according to a report this week from art-show organizer Art Basel and UBS . Although the industry had already made a full recovery from the pandemic by 2021, it seems to be cooling. Last year’s 3% growth was lower than expected.

☆ UBS tells investors 'Herculean' Credit Suisse takeover will pay off
▼ + stars: | 2023-04-05 | by ( Noele Illien | ) www.reuters.com time to read: +5 min

[1/3] Buildings of Swiss banks UBS and Credit Suisse are seen on the Paradeplatz in Zurich, Switzerland, March 20, 2023. REUTERS/Denis Balibouse/File PhotoBASEL, April 5 (Reuters) - UBS (UBSG.S) executives sought to assure investors on Wednesday that Switzerland's largest bank can make its unexpected takeover of Swiss rival Credit Suisse (CSGN.S) work and pay off for its shareholders. "We believe the transaction is financially attractive for UBS shareholders," he said. Looking at how to navigate the mammoth task of integrating Credit Suisse, the success of which Switzerland depends on, UBS has already taken the first steps. "The acquisition of Credit Suisse will be a major challenge," Hamers said, while echoing the bank's chairman in highlighting new opportunities.

☆ UBS seeks to assure investors shotgun Credit Suisse takeover can pay off
▼ + stars: | 2023-04-05 | by ( Noele Illien | ) www.reuters.com time to read: +4 min

[1/3] Buildings of Swiss banks UBS and Credit Suisse are seen on the Paradeplatz in Zurich, Switzerland, March 20, 2023. "We believe the transaction is financially attractive for UBS shareholders," he said. The hastily arranged rescue, not only angered and unsettled both banks' shareholders, but also many in Switzerland. Looking at how to navigate the mammoth task of integrating Credit Suisse, the success of which Switzerland depends on, UBS has already taken the first steps. "The acquisition of Credit Suisse will be a major challenge," Hamers said, while echoing the bank's chairman in highlighting new opportunities.

☆ UBS Chairman addresses shareholders on milestone Credit Suisse takeover
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +1 min

[1/3] UBS Chairman Colm Kelleher speaks during the Annual General Meeting, two weeks after buying rival Swiss bank Credit Suisse, in Basel, Switzerland, April 5, 2023. REUTERS/Pierre AlbouyBASEL, April 5 (Reuters) - UBS's (UBSG.S) Chairman told the bank's annual shareholder meeting on Wednesday that the takeover of rival Credit Suisse (CSGN.S) was a significant milestone for Switzerland and for the global financial industry. Kelleher addressed shareholders for the fist time since the announcement of the takeover, urgently engineered and pushed through by the Swiss authorities last month. Outlining UBS's strategy, Kelleher said the Credit Suisse takeover would help the bank to deliver value to the Swiss economy and accelerate its strategic plans to expand its position as the leading wealth manager, particularly through growth in the United States and Asia. Reporting by Noele Illien Editing by Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.

☆ UBS holds first shareholder meeting since controversial Credit Suisse takeover
▼ + stars: | 2023-04-05 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

Newly appointed UBS CEO Sergio Ermotti (R) speaks with UBS Chairman Colm Kelleher during a press conference in Zurich on March 29, 2023. UBS will hold its annual general meeting on Wednesday morning against a fraught political backdrop, following its takeover of fallen rival Credit Suisse last month. New CEO Sergio Ermotti will take the reins on Wednesday after his shock reappointment last week, as UBS takes on the mammoth task of integrating its fallen compatriot's business. Ermotti's return was seen by many commentators as an attempt to restore calm, as the country's long-established reputation for financial stability teeters on the line. Credit Suisse held the final independent AGM in its 167-year history in Zurich on Tuesday, after Swiss authorities brokered an "emergency rescue" in late March, when the bank's share price tumbled and depositors fled en masse.

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