Hunt Plots Overhaul Of Pensions Tax To Boost Funding
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- We are told by specialists to anticipate ongoing inflation and subdued financial development.
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UBS posts first quarterly loss since 2017 on Credit Suisse costsUBS, Switzerland’s largest financial institution, reported a larger-than-expected loss of $785 million within the third quarter, its first quarterly drop since 2017. However, the bank stated that it had stabilized Credit Suisse, which it acquired earlier this year, and generated $22 billion in internet new money in its wealth management business. UBS shares rose greater than three p.c following the announcement. UBS plans to absorb Credit Suisse’s Swiss division and cut three,000 jobs by the end of 2026.
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