President Vladimir Putin flew into the occupied Ukrainian city of Mariupol in Donetsk. The unannounced trip, which wasn’t planned in advance, came hours after he visited Crimea for “reunification” events marking the 9th anniversary of Russia’s annexation of the peninsula.
Bob Michele, the chief investment officer of fixed income at JP Morgan Asset Management, said he’s hopeful that UBS Group AG’s deal to buy its troubled Swiss rival Credit Suisse will be enough to stave off a wider selloff in European banks this week.
Milo Djukanovic, who’s seeking another term as Montenegro’s president, won the most votes in a Sunday ballot though he fell short of outright victory, state broadcaster RTCG reported, citing a local polling group.
Colony Capital founder Tom Barrack is taking a leading role in advising First Republic Bank on its options as the lender races to avoid a collapse after a $30 billion rescue last week failed to assuage investors, according to people familiar with the matter.
The government-backed deal to fold Credit Suisse Group AG into UBS Group AG has the support of regulators globally, though it may alter the enlarged group’s capital requirements down the line, according to Switzerland’s top markets supervisor.
First Republic Bank was downgraded again Sunday by S&P Global Inc., days after the ratings firm cut the lender to junk.
An emergency ordinance, a government backstop, and shareholders coming out better than some bondholders: UBS Group AG’s government-brokered deal to buy Credit Suisse Group AG is historic, complex and unique.
UBS Group AG’s rushed deal to buy beleaguered rival Credit Suisse Group AG wasn’t the best solution, but was the most reasonable of the options available, says Mohamed El-Erian.
UBS Group AG Chairman Colm Kelleher said he will manage down Credit Suisse Group AG’s investment bank, curtailing a source of losses in recent years in a move that potentially spells the end for plans to carve out parts of the unit under the CS First Boston brand.
John Lewis Partnership Plc is considering selling a minority stake, diluting its employee-owned structure, as the cost-of-living crisis puts pressure on the UK retailer to seek new investment.
