UBS and the Swiss government sign loss protection agreement over Credit Suisse takeover
UBS and the Swiss government announced Friday that they had signed a loss protection agreement which will come into effect once the takeover of Credit Suisse is completed.
Gold heads for best week in five on Fed rate pause bets
Gold is set for its best week since early May after weaker jobs data bolstered bets for the Federal Reserve to hold pat on interest rates next week.
Dollar gains before Fed meeting, inflation data
The dollar bounced off two-week lows on Friday as investors awaited inflation data and the Federal Reserve’s interest rate decision next week.
Tech leaders are calling for an A.I. pause because they have no product ready, Palantir CEO says
Palantir CEO Alex Karp said that to pause research and study A.I. will only give the lead to adversaries.
China can’t rely on Southeast Asian exports to offset a U.S. slowdown
China’s exports to the U.S. and Southeast Asian countries fell sharply in May.
Banks are cutting off Binance’s access to U.S. banking system, exchange says
Binance’s banking partners will “pause” Binance.US’ access to US dollar deposits as soon as next week, after the SEC filed charges against the exchange.
China’s producer prices plunge the most in seven years as deflation hangs over economy
Deflation seen in China’s producer prices are in contrast to the high levels of inflation that global central banks have been fighting to bring down for more than a year.
India predicted to outshine China as Asia remains a bright spot for global growth
In its latest global economic outlook report, the OECD predicted India, China and Indonesia would top gross domestic product projections for 2023 and 2024.
Train review: What it’s like to ride the Venice Simplon-Orient-Express
Paying $2,000 for a hotel room is pricey, but an overnight ride on the historic Venice Simplon-Orient-Express trains costs about as much — per square meter.
UBS strategist: There’s too much risk in Big Tech right now — here’s where to invest instead
Big Tech valuations have been on the up. But UBS’ head of European equity strategy believes there’s another sector offering similar returns with less risk.
