UBS expects $17 billion hit from Credit Suisse rescue, flags hasty due diligence
UBS estimates a financial hit of around $17 billion from its emergency takeover of Credit Suisse, according to a regulatory filing.
CNBC Daily Open: Inflation weighed on consumer spending
Any positive momentum stocks had on Monday dissipated yesterday, as downbeat economic signs weighed on indexes.
Sudan one month on: Why cease-fires are failing, and what global leaders are missing
One month after fighting between Sudan’s two military factions broke out, internationally-brokered peace talks in Saudi Arabia have yielded no solution.
Siemens raises full-year outlook after second-quarter sales beats forecasts
Siemens raised its full year sales and profit guidance on Wednesday after the German engineering and technology group beat sales forecasts during its second quarter.
JPMorgan and Barclays back $4.5 billion insurance tech giant Wefox
Wefox maintained its $4.5 billion valuation from its previous round of funding, the company said.
‘Foreign investors are back’: Japan stocks surge to their highest since 1990
Japan’s Topix marked a 33-year high on revived hopes for Japanese equities, with the index outperforming its regional peers year-to-date.
Temu accused of data risks after sister app was suspended for malware
The U.S. has accused Temu of data risks following the Google suspension of its sister app, but analysts are not too bothered.
China’s Baidu beats earnings estimates as chatbot awaits government approval
Business momentum in China is building after it dropped most of its strict Covid-19 curbs late last year, with consumers and companies reviving spending.
Tesla and more: Morgan Stanley names EV stocks set to benefit as supply chains move West
Tesla is among the EV stocks that rank highly when it comes to geopolitical, environmental, and economic challenges, according to Morgan Stanley.
Citi names its top biotech and pharma stock picks, giving one nearly 90% upside
The healthcare sector outperformed in Europe, India and China last month, according to Citi, which named its top picks worldwide.
