Bloomberg The Swiss government said that existing liquidity requirements for the country’s systemically important banks, including UBS Group AG and Credit Suisse Group AG, are not enough. An analysis of the country’s most important banks revealed that the liquidity requirements currently imposed would probably not be enough to cover liquidity needs in an emergency or in a default event, the ...

Bloomberg HSBC Holdings Plc plans to split the job of overseeing its key Asian business as the bank’s regional boss Peter Wong prepares to step down from the role. Europe’s largest lender plans to appoint Wong’s protege, David Liao, and the chief executive of its Indian business, Surendra Rosha, as joint heads of its Asian arm this year, people familiar ...

Bloomberg DWS Group and Assicurazioni Generali SpA are among suitors that submitted initial bids this week for the asset management arm of NN Group NV. The unit, known as NN Investment Partners, has separately attracted early interest from UBS Group AG and Allianz SE, the people said. Several other international asset managers, including some US firms, are also pursuing a ...

Bloomberg Bank of England (BOE) Governor Andrew Bailey said that the central bank’s Monetary Policy Committee recently discussed the economics of climate change for the first time, underscoring the UK commitment to slashing emissions. “When it comes to climate change, we cannot stand still,” Bailey said in a speech to a Bank of International Settlements conference on the issue. “We ...

Bloomberg Apple Inc is working on a new iPad Pro with wireless charging and the first iPad mini redesign in six years, seeking to continue momentum for a category that saw rejuvenated sales during the pandemic. The Cupertino, California-based company is planning to release the new iPad Pro in 2022 and the iPad mini later this year, according to people ...

Bloomberg Facing pressure from its wireless competitors, Verizon Communications Inc is offering free Apple and Android phones to customers who sign up for unlimited plans on its faster 5G network. Once a holdout on giveaways to existing customers, the largest US wireless carrier is now matching similar trade-in offers from AT&T Inc and T-Mobile US Inc — part of an ...

Bloomberg Facebook Inc is facing its first in-depth probe by European regulators, the latest in a series of efforts to crack down on big tech market dominance across the continent. The European Commission said it will investigate whether Facebook misuses a trove of data gathered from advertisers to compete against them in classified ads. It will also check if the ...

Bloomberg Nissan Motor Co is pushing back the release of its flagship Ariya electric vehicle, highlighting the struggle automakers everywhere are facing in trying to launch new cars amid a persisting shortage of semiconductors. When the Ariya SUV was first unveiled in July last year, Nissan said it was scheduled to go on sale in mid-2021. The company said a ...

Bloomberg Oil extended gains amid signs of a recovery in demand in parts of the western world, and after Opec+ provided an upbeat assessment of the market’s outlook. Futures in New York rise 0.8% after closing at the highest since October 2018. Brent also climbed after settling above $70 a barrel. US gasoline demand was the highest since the pandemic ...

ABU DHABI / WAM As of June 15, the Ministry of Human Resources and Emiratisation (MoHRE) will begin implementing the ban on works performed under the sun and in open places from 12:30 pm to 3:00 pm until September 15. Under the decision, daily working hours, for morning, evening or both shifts, are not to exceed eight hours. If a ...