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Swiss bank UBS Group decided to make Frankfurt its base location in the European Union after Brexit, preparing for Britain's withdrawal from the bloc without any agreement, Bloomberg reports. In addition, UBS will retain offices in Milan, Paris, as well as in the Spanish capital. It is reported that the bank's expenses for the transfer of personnel from London and legal costs amount to more than 100 million francs. USB also seeks to consolidate its position in the Chinese market, as Asia remains the key region for the growth of its profitability. Currently, the bank reduces investments in emerging markets, and also considers options for small acquisitions.
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
Oil prices climbed on Wednesday after U.S. crude inventories fell against analysts’ expectations, prompting a boost in the market amid the coronavirus resurgence. Brent crude futures gained 0.3%, or 14 cents, at $43.36 per barrel. U.S. ...
On Monday, Deutsche Bundesbank’s President Jens Weidmann said in a newspaper interview that Germany would toughen its auditing and accounting regulations to prevent another scam like the Wirecard scandal. Wirecard AG (WDI), a financial ...
European shares fell earlier on Monday, weighed down by travel stocks after the U.K. placed a quarantine on travelers from Spain as the number of COVID-19 cases continue to surge. The pan-European STOXX index lost 0.5% at 0718 GMT. Meanwhile, ...
On Tuesday, Snap Inc.’s (SNAP.N) stock price declined by more than 11% in after-hours trading as investors digested the company’s user and revenue growth after its second-quarter earnings report. The social media company reported ...
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