UBS chief on the markets’ AI error, M&A and that Credit Suisse rescue
The Swiss giant’s global CEO, Sergio Ermotti, says markets are overestimating the near-term impact of artificial intelligence – and underestimating geopolitics.
The Swiss giant’s global CEO, Sergio Ermotti, says markets are overestimating the near-term impact of artificial intelligence – and underestimating geopolitics.
The panellists charted the US Navy fate, took apart independent central banking, and wrote off a huge slice of the AI boom.
At UBS, Biddulph has been tasked with setting up a debt advisory practice, marking an entirely new division for the Zurich-headquartered bank.
The Swiss investment bank has been unmasked as one of two the data centre provider used for cash-settled capped call options, which appears to have backfired.
The bank upgraded the electric vehicle stock to buy from neutral.
UBS reported a pre-tax profit of almost $3.6 billion in the third quarter, up 27% year on year, largely in line with consensus forecasts.
Ross Stores is likely to become more productive under its new CEO, which should give its shares room to run, per UBS.