Switzerland is accelerating efforts to reform its banking regulations a year after the collapse of Credit Suisse — and handing more power to those who will enforce them. The government is due to unveil long-awaited proposals for legislation in the coming days that are likely to touch on all of the main pillars of bank
UBS Group AG is planning to cut about 90 jobs in Asia private wealth and investment banking in March as China’s stock market rout and a slump in dealmaking have eroded revenue, people familiar with the matter said as quoted by Bloomberg. The Zurich-based lender is weighing a plan to cut about 70 jobs at
The worst may be over for Chinese stocks after three straight years of losses dealt a US$1.4 trillion wipeout, as a recovery in corporate earnings takes hold amid a ramp-up in policy support in the world’s second largest economy, according to Swiss bank UBS Group. An uptick in profits for industrial companies, which largely move
When ChatGPT burst into the public consciousness in early 2023, financial services firms initially reacted by banning their employees from using it. A year later, many executives are heralding generative AI as transformative for their business. AI as a key theme for 2024 may seem obvious. But what are the other trends that will affect
“A more favourable interest rate environment in 2024 can be conducive to increased issuance of green bonds or sustainability-linked bonds,” said Tu. “But we need to find a variety of transition financing to support companies’ decarbonisation initiatives.” A photovoltaic power generation base in Taizhou, Jiangsu province, China. Photo: Getty Images Sustainable debt is tied to