UBS has limited Russia exposure, but sees risks of unexpected increases
UBS’s (UBSG.S) direct exposure to Russia made up $634 million of the Swiss bank’s total emerging market exposure of $20.9 billion at the end of 2021, the bank said in its annual report.
UBS books best annual profit since 2006, sets loftier goals
UBS (UBSG.S) on Tuesday reported its best annual profit since the global financial crisis, emboldening it to hike share buybacks and set more ambitious profit goals as it banks that more digital products will result in hefty cost-savings.
Swiss National Bank sticks to loose policy, diverging from Fed and others
The Swiss National Bank stuck to its ultra-loose monetary policy on Thursday, diverging from the tightening path being taken by a growing number of central banks and despite higher inflation and a surge in the value of the safe-haven Swiss franc.
Credit Suisse Chairman Horta-Osorio says big investors back overhaul
Credit Suisse’s (CSGN.S) big shareholders back the scandal-hit bank’s new strategy, Chairman Antonio Horta-Osorio told Swiss newspaper NZZ am Sonntag, adding the group would also overhaul its pay system for executives to reduce risk.
Marketmind: Watch those spiralling gas prices
A massive week in monetary policy, with some 16 central banks holding meetings and possibly the first rate hike from a developed nation — Norway. Not to say others will follow any time soon; the Federal Reserve for instance may strees its own rate rises remain distant. Others such as Switzerland and Japan are likely to stay resolutely dovish.
The great exit: central banks line up to dial back emergency stimulus
The U.S. Federal Reserve is projecting a faster timetable for interest rate rises and Norway’s central bank is preparing markets for four rate hikes by mid-2022, the latest signs policymakers are preparing to exit pandemic-driven stimulus.
