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Odds shift for global banks' Asia wealth bets in China's slower-growth reality

By Selena Li and Anshuman Daga HONG KONG/SINGAPORE, April 29 (Reuters) - Wealth managers at the big global banks are tempering their expectations for Asia, their fastest growing market, after China's regulatory crackdown and COVID-driven slowdown helped to push clients to the sidelines, bankers and analysts said. Some wealth managers have cut the c
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Credit Suisse to rely on existing capital as further loss triggers reshuffle

* First-quarter net revenue down 42% * Wealth management and investment bank behind decline * Bank adds $725 mln to legal provisions, leading to loss * Core capital ratio weakens to 13.8% from 14.4% * Bank has no plans for capital increase - source (Recasts with new comments) By Brenna Hughes Neghaiwi ZURICH, April 27 (Reuters) - Credit Suisse plan
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European shares close down, Wall Street falls on earnings anxiety

(New throughout with updated comment, prices) * Nasdaq drops 3% as investors await earnings * World, European shares give back earlier gains * China stocks fall further as Beijing races to battle COVID * Dollar hits fresh 2-year peak on China COVID fears, Fed bets * Graphic: Global asset performance Link * Graphic: World FX rates Link By Chris Pren
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Shares fragile, dollar soars on growth scare and Fed bets

* World shares steady, earnings prop up Europe, U.S futures dip * China stocks fall further as Beijing races to battle COVID * Dollar hits fresh 2-year peak on China COVID fears, Fed bets * Yuan above 1-year low after PBOC cuts FX reserve ratio * Graphic: Global asset performance Link * Graphic: World FX rates Link By Danilo Masoni MILAN, April 26
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Ease rules to make London more competitive, industry officials say

By Huw Jones and Carolyn Cohn LONDON, April 26 (Reuters) - Rules are becoming more flexible for financial firms after Brexit but more needs to be done to cut red tape and keep London globally competitive, senior industry officials said on Tuesday. Following its departure from the European Union, Britain faces industry and lawmaker calls to ease som
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Shares fragile, dollar soars on China growth fears

* World shares steady, solid earnings help European shares * China stocks fall further as Beijing races to battle COVID * Dollar hits fresh 2-year peak on China COVID fears, Fed bets * Yuan above 1-year low after PBOC cut FX reserve ratio * Graphic: Global asset performance Link * Graphic: World FX rates Link By Danilo Masoni and Xie Yu MILAN, Apri
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UBS posts best Q1 profit in 15 years, bolstered by trading growth

By Brenna Hughes Neghaiwi ZURICH, April 26 (Reuters) - UBS UBSG.S posted its best first-quarter net profit in 15 years on Tuesday with a 17% jump on the back of strong trading, upending expectations for a fall amidst uncertainties over the war in Ukraine. The $2.14 billion net profit for the March quarter outpaced average expectations for $1.79 bil
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UBS posts surprise 17% Q1 profit rise

ZURICH, April 26 (Reuters) - UBS UBSG.S posted a 17% rise in first-quarter net profit on Tuesday, upending expectations for a fall in profit amidst uncertainties over the war in Ukraine, thanks to strong trading. Net profit for the quarter ended in March of $2.136 billion outpaced average expectations for $1.79 billion in a poll of 21 analysts comp
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Inflation outlook may cloud resilient European earnings updates

* STOXX 600 Q1 earnings seen up around 25% * Focus on pricing power, margins, demand * Profit revisions have turned negative By Joice Alves and Danilo Masoni LONDON, April 20 (Reuters) - European companies are forecast to have coped with record inflation in the first quarter, but the big question for investors during the reporting season which begi
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UBS shareholders back bank's climate roadmap

By Brenna Hughes Neghaiwi ZURICH, April 6 (Reuters) - UBS UBSG.S shareholders on Wednesday approved the bank's climate roadmap, after its first-ever such vote faced pushback from several investors and climate campaigners as not going far enough. In all 77.74% of shareholder votes backed Switzerland's biggest bank's climate proposal -- presented to
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UBS shareholders back bank's climate roadmap

ZURICH, April 6 (Reuters) - UBS UBSG.S shareholders on Wednesday approved the bank's climate roadmap, after its first-ever such vote faced pushback from several investors and climate campaigners as not going far enough. In all 77.74% of shareholder votes backed Switzerland's biggest bank's climate proposal setting interim targets to progress toward
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Brazil's Votorantim to sell 34 mln shares in aluminum producer CBA

SAO PAULO, April 4 (Reuters) - Brazilian aluminum producer Companhia Brasileira de Aluminio (CBA) CBAV3.SA said late on Sunday its controlling shareholder, conglomerate Votorantim SA, will conduct a follow-on offering to sell 34 million shares in the company. The firm had announced last week it was mulling the secondary offering to improve the liqu
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London court blocks planned forex class action against big banks

By Kirstin Ridley LONDON, March 31 (Reuters) - A proposed multi-billion pound claim brought by thousands of asset managers, pension funds and financial institutions against major banks over alleged foreign exchange (forex) rigging has been blocked by a London court. London's Competition Appeal Tribunal (CAT), which had been considering the case aga
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London court blocks planned forex class action against big banks

By Kirstin Ridley LONDON, March 31 (Reuters) - A proposed multi-billion pound claim brought by thousands of asset managers, pension funds and financial institutions against major banks over alleged foreign exchange (forex) rigging has been blocked by a London court. London's Competition Appeal Tribunal (CAT), which had been considering the case aga
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UBS announces result of 2021 share buyback

ZURICH, March 30 (Reuters) - UBS UBSG.S spent 3.81 billion Swiss francs ($4.10 billion) repurchasing its shares equivalent to 6.49% of its share capital in its 2021 buyback, the Swiss bank said on Wednesday. The cancellation of most of the repurchased shares will be proposed at the bank's upcoming shareholder meeting on April 6. The lender plans to
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Swiss National Bank says it has sold most of its Russia-related assets

ZURICH, March 24 (Reuters) - The Swiss National Bank (SNB) has sold most of its Russia-related assets and sees only limited risk for the Swiss financial sector from the war in Ukraine, its chairman said on Thursday. "We had a very small amount of assets related to Russia. In the meantime, we could sell most of those assets so that the exposure to R
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UBS, China Life asset management venture plan in limbo as talks stall - sources

By Samuel Shen and Selena Li SHANGHAI/HONG KONG, March 24 (Reuters) - A plan by UBS UBSG.S and China Life Insurance Group to set up an asset management joint venture in China faces uncertainty as talks have stalled due to a corruption investigation at the insurer and curbs set on the scope of the business, two sources said. China Life's asset manag
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Philippines returns to offshore bond market with three-tranche offer

* Philippines sets initial price guidance * Offer includes 25-year green bonds MANILA, March 21 (Reuters) - The Philippine government is looking to raise funds via a benchmark-sized U.S. dollar-denominated bond issue with tenures of five, 10.5 and 25 years, according to a government document seen by reporters on Monday. The borrower has opened orde
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Russians have up to $213 billion stashed offshore in Swiss banks

By Oliver Hirt and Brenna Hughes Neghaiwi ZURICH, March 17 (Reuters) - Switzerland's secretive banks hold up to $213 billion of Russian wealth, the country's financial industry association estimates, as sanctions on Russia give a rare glimpse inside Swiss vaults. The Swiss Bankers Association (SBA) estimated that the banks hold between 150 billion
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All Russians "semi-sanctioned" as UBS takes conservative approach-CEO

By Brenna Hughes Neghaiwi ZURICH, March 16 (Reuters) - UBS UBSG.S has been taking a conservative approach in dealing with fast-evolving sanctions imposed against Russian businesses and individuals over the invasion of Ukraine, Chief Executive Ralph Hamers said on Wednesday, saying all Russians were effectively "semi-sanctioned". "We are working wit
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