Bloomberg UBS Group AG has abandoned its plan to acquire US robo-adviser Wealthfront, unwinding what would have been the Swiss bank’s first major acquisition under Chief Executive Officer Ralph Hamers. The companies together decided to terminate their January merger agreement, valued at $1.4 billion, according to statements from both of them that didn’t specify a reason. UBS will purchase a ...

  Bloomberg The world’s biggest banks are on track to make a killing in commodities this year, surpassing the record sums they made in the financial crisis. The 100 biggest banks by revenue are set to make $18 billion from commodities trading in 2022, according to data and estimates from Vali Analytics in London. That would be the highest in ...

  Bloomberg Investors are rushing out of US equities as the likelihood of an economic downturn increases amid a myriad of risks, according to Bank of America Corp (BofA) strategists. The nation’s stock funds had outflows of $10.9 billion in the week to September 7, according to EPFR Global data cited by the bank. The biggest exodus in 11 weeks ...