NEW YORK (Reuters) -UBS Group AG, the world’s biggest wealth manager, on Monday named Iqbal Khan the sole head of the Swiss bank’s global wealth management division in an executive board reshuffle. Khan will take over in October when Tom Naratil, who had been Khan’s co-president of global wealth management and president of UBS Americas,…
By David Lawder WASHINGTON (Reuters) -The nominee for the U.S. Treasury’s top economic diplomacy job said on Tuesday he wants to limit China’s growing global lending influence by working with international financial institutions and development banks to give countries borrowing alternatives. Jay Shambaugh is President Joe Biden’s choice for Treasury undersecretary for international affairs. If…
By Jonathan Stempel NEW YORK (Reuters) – Wells Fargo & Co on Tuesday won the dismissal of one lawsuit and much of a second accusing the fourth-largest bank of failing to monitor toxic mortgage-backed securities that were a major cause of the 2008 global financial crisis. In a 68-page decision, U.S. District Judge Katherine Polk…
By Tom Hals WILMINGTON, Del. (Reuters) – Twitter Inc sued Elon Musk on Tuesday for violating the $44 billion deal to buy the social media platform and asked a Delaware court to order the world’s richest person to complete the merger at the agreed $54.20 per Twitter share, according to a court filing. “Musk apparently…
NEW YORK (Reuters) – UBS Group AG on Monday named Iqbal Khan the sole head of its global wealth management division, amid a flurry of changes to the Swiss bank’s executive board. Tom Naratil, who had been Khan’s co-president of global wealth management and president of UBS Americas, will step down from those roles in…
By Karen Brettell and Sujata Rao NEW YORK (Reuters) – The euro rebounded on Tuesday after sliding to a 20-year low and nearing parity against the U.S. dollar as investors worried that an energy crisis in the region would bring on a recession. The single currency reached $1.00005 against the greenback, the lowest since December…
OTTAWA (Reuters) – Canada’s telecoms regulator said on Tuesday it has ordered Rogers Communications to respond to questions about last week’s network outage that impacted millions of Canadians. Rogers needs to provide a detailed account as to “why” and “how” the outage happened, and what measures the company is putting in place to prevent future outages,…
MADRID (AP) — Spain’s second heat wave in less than a month and the year’s first for neighboring Portugal is expected to last at least until the weekend, weather forecasters said Tuesday. With temperatures in both countries already elevated, the outlook magnified wildfire worries. Portugal could get the highest temperatures. The central Alentejo region is…
A Moscow court on Tuesday fined Apple 2 million rubles (about $34,000) for refusing to store the personal data of Russian users on servers in Russia, part of government efforts to control online activity. Zoom Video Communications and Ookla, which runs the internet tool Speedtest, were both fined 1 million rubles under the same law….
By Paul Lienert (Reuters) – Electric truck maker Rivian Automotive will brief employees on Friday on potential layoffs and plans to suspend some programs as part of a broader restructuring, Chief Executive R.J. Scaringe said in an email sent to employees on Monday evening. The company has struggled this year to ramp up production at…
