Hunt Plots Overhaul Of Pensions Tax To Spice Up Funding
UBS posts first quarterly loss since 2017 on Credit Suisse costsUBS, Switzerland’s largest bank, reported a larger-than-expected loss of $785 million in the third quarter, its first quarterly drop since 2017. However, the financial institution said that it had stabilized Credit Suisse, which it acquired earlier this year, and generated $22 billion in net new cash in its wealth administration business. UBS shares rose more than three p.c following the announcement. UBS plans to absorb Credit Suisse’s Swiss division and minimize three,000 jobs by the top of 2026.
- “Given the softness in air cargo demand across the industry and present