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UBS CEO warns of painful jobs decisions after Credit Suisse takeover

RTE 02 Jun 2023
UBS chief executive Sergio Ermotti has warned of painful decisions about job cuts following the takeover of Credit Suisse, which he said he hoped would be formalised in coming days. "We won't be able to create, short term, job opportunities for everybody ... That management reshuffle only saw Credit Suisse CEO Ulrich Koerner joining the top leadership.
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Fed's Powell spoke with UBS CEO amid meetings flurry during March banking crisis

Reuters 02 Jun 2023
... to buy smaller rival Credit Suisse, just one of the dozens of calls and meetings Powell held from mid-March onward as a banking crisis unfolded ... MarketscategoryUBS CEO warns of painful jobs decisions after Credit Suisse takeover4.00 PM UTC.
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Mike Ashley's Frasers to lay off up to 200 workers to streamline business

Reuters 02 Jun 2023
The job cuts were first reported by the Sun last week ... Our Standards. The Thomson Reuters Trust Principles. Read Next ... Updated undefined ago. MarketscategoryExclusive ... European MarketscategoryUBS CEO warns of painful jobs decisions after Credit Suisse takeover11.51 AM UTC. article with gallery ... ....
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Banks stocks gain after US Congress averts historic debt default

Reuters 02 Jun 2023
June 2 (Reuters) - Shares of U.S ... Meanwhile, a key jobs data on Friday highlighted a cooling in wage inflation that reinforced bets that the central bank will steer clear of a rate hike this month ... Our Standards ... Read Next. MarketscategoryUBS CEO warns of painful jobs decisions after Credit Suisse takeover4.00 PM UTC ... Macro MatterscategoryAnalysis ... ....
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Biden lauds U.S. job growth, says debt ceiling bill to also boost economy

Reuters 02 Jun 2023
WASHINGTON, June 2 (Reuters) - U.S ... employment for May ... Our Standards ... Read Next ... European MarketscategoryUBS CEO warns of painful jobs decisions after Credit Suisse takeover11.51 AM UTC. MarketscategoryExclusive ... ....
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Russian-backed official says Ukraine shelled port of Berdyansk

Reuters 02 Jun 2023
"Information on the fatalities is being clarified," Vladimir Rogov said on the Telegram messaging app ... Our Standards. The Thomson Reuters Trust Principles. Read Next ... MarketscategoryExclusive ... MarketscategoryUBS CEO warns of painful jobs decisions after Credit Suisse takeover11.51 AM UTC ....
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Ukraine's Zelenskiy: NATO membership 'impossible' until Russia war ends

Reuters 02 Jun 2023
KYIV, June 2 (Reuters) - President Volodymyr Zelenskiy said on Friday he knew it would be "impossible" for Ukraine to join NATO while Russia was waging war on his country ... Our Standards ... Read Next ... MarketscategoryExclusive ... MarketscategoryUBS CEO warns of painful jobs decisions after Credit Suisse takeover11.51 AM UTC ....
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Co-head of electronic equities at BNP Paribas leaving for a rival

Reuters 02 Jun 2023
Schoeneborn did not immediately respond to a request for comment on LinkedIn. Reuters was not immediately able to confirm where he is moving to ... Our Standards. The Thomson Reuters Trust Principles. Read Next ... MarketscategoryExclusive ... European MarketscategoryUBS CEO warns of painful jobs decisions after Credit Suisse takeover11.51 AM UTC ... ....
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Russia: Chechen special forces waging offensive in east Ukraine

Reuters 02 Jun 2023
June 2 (Reuters) - Russia's Defence Ministry said on Friday that the "Akhmat" group of Chechen special forces were waging an offensive near the town of Mariinka, in the eastern Ukrainian region of Donetsk ... MarketscategoryExclusive ... MarketscategoryUBS CEO warns of painful jobs decisions after Credit Suisse takeover11.51 AM UTC ....
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French minister Dussopt to face court over favouritism charge

Reuters 02 Jun 2023
Officials at Dussopt's office could not be reached for comment, while an official at Prime Minister Elisabeth Borne's office said Dussopt continued to have her backing ... Our Standards. The Thomson Reuters Trust Principles ... MarketscategoryExclusive ... MarketscategoryUBS CEO warns of painful jobs decisions after Credit Suisse takeover11.51 AM UTC.
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Canada's OSFI releases draft frameworks to double down on big banks, insurance regulation

Reuters 02 Jun 2023
The draft guidelines from the Office of the Superintendent of Financial Institutions (OSFI) would apply to banks and life insurers that operate internationally but have their parent firms based in Canada ... Our Standards ... Read Next. MarketscategoryExclusive ... MarketscategoryUBS CEO warns of painful jobs decisions after Credit Suisse takeover11.51 AM UTC.
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German finance ministry steps up 2024 budget pressure on ministries

Reuters 02 Jun 2023
Chancellor Olaf Scholz and Economy Minister Robert Habeck agreed the budget procedure in advance, said the ministry. The ministries must now determine how to structure their funds under the given ceiling, it added ... Our Standards ... Read Next ... European MarketscategoryUBS CEO warns of painful jobs decisions after Credit Suisse takeover11.51 AM UTC ... ....
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Putin says 'ill-wishers' are trying to destabilise Russia

Reuters 02 Jun 2023
June 2 (Reuters) - President Vladimir Putin said on Friday that certain "ill-wishers" were stepping up efforts to destabilise Russia and urged members of his cabinet not to allow this "under any circumstances" ... Our Standards ... Read Next ... MarketscategoryUBS CEO warns of painful jobs decisions after Credit Suisse takeover11.51 AM UTC.
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Hungary cbank chief sees chance for euro adoption only after 2030

Reuters 02 Jun 2023
BUDAPEST, June 2 (Reuters) - Hungary should not consider adopting the euro before 2030 as joining the single currency zone before its economy is duly prepared would backfire, central bank governor Gyorgy Matolcsy said on Friday ... Our Standards ... European MarketscategoryUBS CEO warns of painful jobs decisions after Credit Suisse takeover11.51 AM UTC.
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Spain's Catholic Church finds hundreds of alleged child abusers over eight decades

Reuters 02 Jun 2023
MADRID, June 2 (Reuters) - An investigation by the Spanish Catholic Church into child sexual abuse by members of the clergy and non-clerical staff has so far identified 728 alleged abusers and 927 victims since the 1940s, according to its first report ... MarketscategoryUBS CEO warns of painful jobs decisions after Credit Suisse takeover11.51 AM UTC.

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