BLOOMBERG UBS Group AG will cut its workforce by between 20% and 30% after completing its takeover of Credit Suisse Group AG, slashing as many as 36,000 jobs worldwide,  SonntagsZeitung reported, citing a senior manager at UBS. As many as 11,000 employees will be laid off in Switzerland, the Swiss newspaper said. The two lenders together employed almost 125,000 people ...

BLOOMBERG Deposits at US banks fell sharply and lending declined by the most in nearly two years amid financial turmoil triggered by the collapse of several banks in March. Commercial bank deposits dropped by $125.7 billion in the week ended on March 22, marking the ninth-straight period of declines, according to data by the Federal Reserve. At domestically chartered banks, ...

BLOOMBERG Italian Finance Minister Giancarlo Giorgetti said monetary-policy measures alone can’t tame inflation. “Fighting inflation with monetary policy is not enough, and recession can’t be the price to pay for fighting inflation,” Giorgetti said at the Ambrosetti workshop in Cernobbio, Italy. Faced with the biggest cost-of-living crisis in a generation in the wake of Russia’s invasion of Ukraine, governments across ...