An hour ago Sergio Ermotti returns as CEO of UBS to oversee the takeover of Credit Suisse CNBC’s Joumanna Bercetche and Geoff Cutmore discuss the news that Sergio Ermotti will replace current UBS CEO Ralph Hamers. 2 hours ago Appointment of Ermotti UBS CEO calms nerves and builds confidence in Swiss banks: analyst Porta Advisors … Read more
2 hours ago Alibaba’s reform could be followed by technology partners: KraneShares According to KraneShares CIO Brendan Ahern, Alibaba’s big change could be followed by its Chinese technology partners. “I think investors will say what we saw in Alibaba, which is really the technology leader in China, that others can take advantage of their plans,” … Read more
Israel is cooling down after weeks of intense protests. Prime Minister Benjamin Netanyahu said Monday he would delay legislation that critics say would weaken the judiciary. Some CEOs are seriously worried about what the turmoil will mean for businesses in Israel. Protesters gather in front of Israel’s parliament in Jerusalem on March 27, 2023, calling … Read more
UBS appointed Sergio P. Ermot as Group CEO following the Credit Suisse acquisition agreement. Harold Cunningham | Getty Images News | Getty Images UBS appointed Sergio Ermot as its new group CEO on Wednesday following its recent acquisition of Credit Suisse. The move will take effect on April 5, UBS said in a statement. Ermotti … Read more
Sen. Tim Scott, RS.C., right, greets Michael Barr, off camera, vice chairman for oversight of the Board of Governors of the Federal Reserve System, in the Dirksen Building on Tuesday, March 28, 2023. Tom Williams | Cq-roll Call, Inc. | Getty Images This report is from today’s CNBC Daily Open, our new international markets newsletter. … Read more
Japan is this year’s most popular destination for gastronomes in Asia, according to a new ranking published by the 50 Best organization. The country is home to 17 of the region’s “best” 100 restaurants, which were released in two parts in March. Singapore and Thailand ranked second, each with 15 restaurants on the list. Hong … Read more
Alibaba’s Hong Kong-listed shares rose at the open on Wednesday after the company announced a major overhaul to split the company into six business groups. The company said in a release that the change is intended to “unleash shareholder value.” Signs at Alibaba Group Holding Ltd offices in Beijing, China, Tuesday, January 17, 2023. Bloomberg … Read more
Jamie Dimon, the veteran CEO and chairman of JPMorgan Chase, is being ousted over his bank’s ties to disgraced former financier Jeffrey Epstein, according to a person with knowledge of the matter. Dimon agreed to be interviewed under oath, at an unspecified time in the future, in two civil lawsuits involving convicted sex offender Epstein, … Read more
The exterior of a Dollar General convenience store is seen on March 16, 2023 in Austin, Texas. Brandon Bell | Getty Images Dollar General is in settlement talks with federal regulators after the discount retailer was labeled a “serious violator” of workplace safety rules, according to a spokeswoman for the Occupational Safety and Health Administration. … Read more
Google “adopted a ‘don’t ask, don’t tell’ approach to retaining messages at the expense of its retention obligations,” a federal judge said. The court ordered Google to pay legal fees related to the dispute, but is still deciding on remedies. A Google sign is pictured as the company presented Germany’s detailed investment plan outside Google’s … Read more