UBS (UBSG.S) on Tuesday posted a $690 million fourth-quarter pre-tax profit, hit by a slowdown in its flagship wealth management business and weaker earnings in its investment bank. On an adjusted basis, fourth-quarter pre-tax profit fell to $862 million, less than the $1.038 bilRead more »
The last financial crisis has left Europe with very few tools to address the next economic downturn, the chief executive officer of Dutch multinational DSM told CNBC Tuesday.
Without any direction offered from American markets that were shut for a holiday Monday, shares declined from Tokyo to Sydney to Shanghai to Seoul. News that the IMF was cutting its global growth forecast to the weakest in three years merely cemented an already downbeat mood. The offshore yuan weakened
Tesla Inc denied on Tuesday that it had signed a preliminary agreement with Tianjin Lishen to supply batteries for its new Shanghai car factory, saying it had received quotes from the Chinese battery maker but did not proceed further. "We have not signed any agreement of any kind with them,"
Shum Tin Ching and his wife Wang Xinmei sold 93.6 million shares of Jiayuan International Group Ltd. on Jan. 17 at an average of HK$2.7611 apiece -- about a 79 percent discount from the previous day’s close -- according to a Hong Kong exchange filing. Jiayuan tumbled as much as 24 percent before shares
SINGAPORE — Asian markets retreated Tuesday after the International Monetary Fund trimmed its global outlook for 2019 and 2020. The downgrade came after China said its economy grew at the slowest pace in 30 years in the last quarter of 2018. Wall Street was closed for a holiday on Monday.
By Colin Packham and Henning Gloystein SYDNEY/SINGAPORE (Reuters) - Oil prices fell by around one percent on Tuesday as signs of a spreading global economic slowdown stoked concerns over future fuel demand. International Brent crude oil futures were at $62.09 per barrel at 0601 GMT, down 65 cents, or
UBS on Tuesday posted a $862 million fourth-quarter pre-tax profit, hit by a slowdown in its flagship wealth management business and weaker earnings in its investment bank. On an adjusted basis, fourth-quarter pre-tax profit fell to $860 million, under conditions Chief Executive Sergio Ermotti described
China got the week off to a shaky start on Monday after Beijing reported 2018 growth in the world's second-largest economy slowed to its weakest pace in nearly 30 years. Adding to the air of caution, the International Monetary Fund trimmed its global growth forecasts and a survey showed increasing
Companies including Canada’s Kirkland Lake Gold Ltd. and Australia’s Northern Star Resources Ltd. have scope to extend gains and should be in focus for investors looking for a safe harbor, according to Joe Foster, New York-based portfolio manager for the $600 million Van Eck International Investors Gold
TOKYO — A Tokyo court has rejected former Nissan chairman Carlos Ghosn's latest request for bail, more than two months after his arrest, prolonging a detention that has drawn international scrutiny of Japan's justice system.The decision by the Tokyo District Court came a day after Ghosn promised
(Bloomberg) -- French Finance Minister Bruno Le Maire is heading to Davos with an ambitious mission statement for the world’s richest economies: rebuild capitalism.
Weakening consumer spending is an ominous sign for a government that’s looking for domestic demand to pick up the slack as it tries to wean the world’s second-largest economy off its dependence on export- and investment-led growth. While that remains below the global average of 62 percent, it’s the
At a meeting of euro-zone finance ministers on Monday, the Irish central-bank governor became the first nominee to replace Peter Praet on the ECB’s Executive Board in June. Heavyweight economies such as Germany -- which held the chief economist role from the euro’s foundation until Belgium’s Praet won
What if more emerging markets actively managed their currencies, like China does? Interrogating the data for answers, and using them to poke holes in the conventional playbooks for economic policy, was a hallmark of 47 year old Gopinath’s work at Harvard. Now she’ll be expected to recommend practical
Private equity firm Apollo Global Management LLC has had to fund the bulk of its possible offer for British packaging maker RPC Group Plc with euro and dollar loans, the people said, asking not to be identified because the details are private. Some auctions that have fallen through recently -- including
One year on, the U.S. government is partially shut and the market ebullience that greeted the president’s corporate tax overhaul is a distant memory. In the 12 months since he visited the World Economic Forum in the Swiss Alps, Trump has launched a trade war with China, slapped tariffs on Europe, weighed
The Tres Coracoes venture, owned jointly by Brazilian group Sao Miguel and Israel’s largest publicly traded food maker Strauss Group Ltd., is looking to buy coffee-roasting companies in Argentina, Chile, Uruguay, Paraguay and Bolivia, its president, Pedro Lima, said in an interview in Sao Paulo.
Visitors to HQ Trust in Bad Homburg are quickly introduced to the most famous family member, Harald Quandt. The wealth betrayed by the art throughout this otherwise inconspicuous ensemble of buildings has attracted some 100 families since the Quants in 2007 decided to offer other rich families the chance
The second- and third-largest shareholders of M1, Singapore’s smallest mobile-services provider, said in an exchange filing on Tuesday that they won’t increase their S$2.06 ($1.51) per share take-private offer price “under any circumstances whatsoever.” Instead, they’ve extended the closing date for
Weakness in the service and farm sectors slowed China's economic growth in the fourth quarter, despite a strong pickup in construction activity, official data showed on Tuesday. Services grew 7.4 percent from a year earlier, slowing from 7.9 percent in the third quarter, while growth in agriculture
(Bloomberg) -- Indian equities declined, halting a five-day rally, as shares from Tokyo to Sydney slipped on concerns about global economic growth after the IMF trimmed its global growth forecast to the weakest in three years.
It nudged its global economic projections lower, though the change is hardly dramatic. Lagarde even felt moved to parenthetically remind her audience of this at the World Economic Forum. “Does that mean that a global recession is around the corner?
A new report says Chinese users accounted for almost half of all 194 billion apps downloaded globally in 2018 despite a slowdown in China's smartphone market.
The companies had yet to reach a decision on how large an order the U.S. electric car company would place, and Lishen was still working out what battery cell size Tesla would require, one of the sources said. While Panasonic is currently Tesla's exclusive battery cell supplier, Tesla Chief Executive
SINGAPORE — Asian markets were mostly lower on Tuesday after the International Monetary Fund trimmed its global outlook for 2019 and 2020. The downgrade came after China said its economy grew at the slowest pace in 30 years in the last quarter of 2018. Wall Street was closed for a holiday on Monday.