Bloomberg UBS Group AG Chief Executive Officer Ralph Hamers is creating a new bank-wide team to use more artificial intelligence (AI) and data analytics to drive the bank’s digitisation. The new team called AI, Data and Analytics, will be lead by the head of the investment bank Rob Karofsky and chief digital and information officer Mike Dargan, according to a ...

Bloomberg Chinese property developers are responsible for about half of the world’s distressed dollar bonds, a fresh indication of the magnitude and global nature of the industry’s woes. Of the $139 billion of dollar-denominated bonds trading at distressed prices, 46% were issued by companies in China’s real estate sector, according to data compiled by Bloomberg on October 12. That captured ...

Bloomberg The International Monetary Fund (IMF) warned of the risk of sudden and steep declines in global equity prices and home values as the Federal Reserve and other central banks withdraw the support they’ve provided during the pandemic. Ultra-easy monetary policy has led to “pockets of market exuberance and rising financial leverage” that could unwind in disorderly ways and put ...