UBS chair says Swiss banking giant is not 'too big to fail'

CNBC— Colm Kelleher also said UBS was one of the best-capitalized banks in Europe at the UBS Annual General Meeting.

Fast Company—Big Six tech companies' profit momentum could 'collapse' in 2024, UBS says. Profit growth momentum of the so-called Big Six technology stocks could “collapse” over the next few quarters, UBS Global Research strategists said on Monday, downgrading its rating on the mega-cap companies. Growth in earnings per share (EPS) of the “Big 6 TECH+” stocks—Apple, Amazon.com, Alphabet, Meta, Microsoft, and Nvidia—was projected to decline to 15.5% by the first quarter of 2025, from 42.2% estimated for the same period this year, strategists led by Jonathan Golub said. “Our...

@cityam—Banks, retailers and tech giants dominate big blue-chip results week. A slew of blue-chip results on both sides of the Atlantic will dominate the corporate news agenda this week, alongside key US economic data set to bolster the case for higher-for-longer interest rates.

ETtech.com—Premji Invest in talks to pick up big stake in Bank of Baroda’s Nainital Bank. Premji Invest, the family office of Wipro founder Azim Premji, is in advanced talks to acquire a majority stake in Nainital Bank, which is a subsidiary of the publicly owned Bank of Baroda, three people aware of the discussions said. The proposed investment is likely to value the Uttarakhand-based lender at around Rs 800 crore, they added.“Premji Invest has signed a term sheet and the due diligence process is over. However, the final decision is yet to be made on the acquisition,” according to...