ZURICH (Reuters) -UBS’s flagship global wealth management business on Thursday announced a raft of management changes triggered by the Swiss bank’s takeover of Credit Suisse. Several former Credit Suisse managers have got jobs in the changes which affect roughly 180 executives and mainly take effect from July 17. Former Credit Suisse executive Michael Marr will…
By David Milliken and Andy Bruce LONDON (Reuters) -British house building fell in June at the sharpest pace in more than 14 years, apart from two months early in the COVID-19 pandemic, as higher borrowing costs dampened demand and weighed on the broader construction sector, a survey showed on Thursday. The S&P Global/CIPS construction Purchasing…
By Milounee Purohit BENGALURU (Reuters) – The Bank of Canada will raise interest rates by a quarter-point for a second straight meeting to 5.00% on July 12 following a five-month pause earlier this year and then hold well into 2024, according to a majority of economists polled by Reuters. While that is the new expected…
By Ananta agarwal (Reuters) – Small U.S. homebuilders are backing off from bringing more houses to the market, discouraged by a banking crisis-led credit squeeze and rising borrowing costs, industry experts said, exacerbating the shortage of new homes. The housing market, which is one of the biggest casualties of the fastest rate-hike cycle in the…
(Reuters) – Pfizer has invested $25 million to buy a minority stake in Caribou Biosciences, making it the latest small biotechnology firm to attract the pharmaceutical giant’s interest. The news lifted shares of Caribou more than 61% in early trade. Pfizer purchased nearly 4.7 million Caribou shares at $5.33 per share, Caribou said on Thursday,…
By Lucia Mutikani WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment benefits increased moderately last week, while private payrolls surged in June, suggesting that the labor market remained on solid ground despite growing risks of a recession. The reports on Thursday, which also suggested that laid-off workers were experiencing shorter spells…
(Reuters) – Goldman Sachs said rising usage of electric vehicles (EV) was a “key pillar of copper’s bullish story”, forecasting copper demand from the sector to amount to 1 million tonnes (mt) this year, rising to 1.5 mt in 2025. “Due to copper’s highly conductive and ductile nature, it is an ideal candidate for transformation…
By Emma Farge GENEVA (Reuters) – Nadine, a social robot powered by Artificial Intelligence (AI) with human-like gestures and expressions, could have an important future role to play in tending to the sick and elderly, according to a professor who helped invent it. Nadia Magnenat Thalmann, a robot expert from the University of Geneva, who…
(Reuters) – Dish Network Chairman Charlie Ergen is considering merging the two halves of his telecom empire, Dish and EchoStar, news publication Semafor reported on Thursday, citing people familiar with the matter. The companies have engaged advisors, according to the report, which did not offer details on the timeline for a deal or the size….
By Martin Coulter (Reuters) -Meta Platforms plans to launch a Twitter-rivalling microblogging app called Threads, days after Twitter boss Elon Musk attracted criticism by announcing a temporary cap on how many posts users can read on the social media site. Threads is expected to be released on Thursday and will allow users to retain followers…
