Ubs Ag Stock News

New Zealand Superannuation Fund hired UBS Asset Management to manage A$4.9 billion ($3.5 billion) in ESG-focused passive equity funds, a spokesman for the NZ$60 billion ($40.8 billion) Auckland-based sovereign wealth fund confirmed. A UBS news release said the firm "has implemented two bespoke ESG index equity funds tailored to NZ Super Fund''s performance and responsible investment requirements." The NZ Super Fund spokesman didn''t immediately respond to queries regarding the funding source for the new mandates. Meanwhile, neither the UBS nor the NZ Super said why the allocations were denominated in Australian dollars. The annual report for NZ Super''s fiscal year ended June 30, released in October, showed the fund awarding UBS a segregated mandate of NZ$2.38 billion for passive global equities during the period. UBS joined Northern Trust, with roughly NZ$8 billion, or 13.6% of the fund''s portfolio as of June 30, and State Street Global Advisors, with NZ$8.34 billion, or 14.1% of the portfolio, as leading passive managers for the fund.

ZURICH (Reuters) UBS will retain a significant onshore presence in India, the Swiss bank said on Wednesday after Bloomberg reported that it planned to move investment banking advisory services out of the country.

Financial companies, the government and regulators face a sizeable task in turning Switzerland into a sustainable finance hub, amid mounting scepticism from pressure groups. The worlds leading wealth management centre has ambitions to replicate this status in green finance channeling investments into climate-friendly projects via bonds, funds and other financial instruments. A flurry of new initiatives has emerged in the wake of the COP26 climate summit. The organisation Swiss Sustainable Finance, comprising private and public sector actors, as well as academia and investors, has submitted a roadmap to reach the sustainable finance hub destination. This follows a set of recommendations from the Asset Management Association Switzerland. On December 1, the Swiss government, along with UBS and Credit Suisse banks, launched a CHF1 billion ($1.08 billion) fund to invest in social and environmental projects in developing countries. The government also wants to issue green bonds by

A French appeals court cut a 2019 fine by more than half on Monday but still left Swiss bank UBS with a $2 billion penalty for helping rich clients evade taxes through what prosecutors called a long-running scheme that featured cloak-and-dagger tactics... By: Robins Kaplan LLP

Uber said on Tuesday that it is looking to sell some of its stake in Chinese ride-hailing company Didi Global, since it is a non-strategic investment, according to Reuters. During a virtual fireside discussion with a UBS analyst, Uber CEO Dara Khosrowshahi said, "Our Didi stake we don''t believe is strategic. They''re a competitor, China is a pretty difficult environment with very little transparency". The CEO revealed that aside from Didi, the company was considering selling its stakes in what it considers non-strategic investments in other companies. Many of its shares in these companies will be sold, but for strategic reasons, it would continue to hold some shares, the CEO explained. Khosrowshahi said the company was in no rush to sell the shares. "Those kinds of stakes we look to monetize smartly over time," he said. Uber owns about 12% of Didi, making it the second-largest investor behind SoftBank. The US ride-hailing giant obtained its stake in 2016 after selling its Chinese business to Didi in exchange for equity in its rival.

Uber looks to sell Didi, other non-strategic stakes - Uber CEO at UBS conference

Futures Reverse Lower As Fed Meeting Looms US stock futures fell on Tuesday, reversing an earlier gain, as traders prepared for this year’s barrage of final central bank meetings this week. Treasury yields advanced and the dollar slipped. European stocks were little changed while Asian stocks dropped led by Japan whose Prime Minister Fumio Kishida hinted the government may consider guidelines for share buybacks (a tapering of stock buybacks in the US would lead to an instant market crash). At 745am, S&P futures were down 0.17% or 8 points to 4,651; Nasdaq futures were down 0.5% erasing earlier gains of as much as 0.3% as traders assessed the impact of a less accomodative monetary setting amid coronavirus challenges and high valuations. Investors focused on central bank meetings this week and kept a wary eye on developments around the Omicron coronavirus variant. The Fed is expected to signal a faster pullback of asset purchases at the end of its two-day meeting on Wednesday, a move which Morgan Stanley believes will lead to market tremors in the next 3- 4 months, while the European Central Bank and the Bank of England will meet on Thursday to determine the course for their monetary policies into 2022. "Equity markets will stay skittish as there is tension between Omicron and newsflow on one side, and a busy calendar for central banks on the other, while we stand between two earnings seasons," said Nick Nelson, head of European equity strategy at UBS. "But we''re no longer talking about the same restrictions we had in Q1 2021 or 2020, so in the near term, restrictions across Europe will only be a modest drag on growth." Here are some of the biggest U.S. movers today: Shares in U.S.-listed Chinese firms decline anew in U.S. premarket trading as a selloff in the stocks and bonds of Chinese property firm Shimao hits sentiment.

PHILADELPHIA, Dec. 14, 2021 /PRNewswire/ -- BizEquity, the largest provider of online business valuations, announced today that it will renew its successful two-year partnership with UBS Wealth Management USA for another two years. BizEquity offers its cloud-based valuation platform and…

But bank considers fighting on

The French court''s ruling over money laundering in France puts UBS in front of a fundamental decision.

The appeals ruling cut a hefty fine but upheld a lower court’s decision that the Swiss bank had used cloak-and-dagger techniques to evade French law.

The Swiss banking giant has an affordable opportunity to draw a line under its French tax evasion case. It should take it.

Regulatory News: Ad hoc announcement pursuant to Article 53 of the SIX Exchange Regulation Listing Rules UBS (NYSE:UBS) (SWX:UBSN) takes note of the French Court of Appeal''s decision. UBS AG was f…