ubs is that is been _ fascinating outcome. ubs is that is been ordered - fascinating outcome.s been ordered to - fascinating outcome. ubs is that is been ordered to pay| that is been ordered to pay this to the american and british regulators of her credit with private investment firms. it took over the troubled bank inheriting its legal issues and creditors lost over $5 billion in the defaulted back in 2021. south korea's economy growth goes up beating expectations and gdp grew about half a percent on a quarterly basis and that data could have an impact on how the bank of korea moves next month. it was one of those nations who have high borrowing costs from 2021 and earlier, he spoke to explain how the latest data could influence essential banks. it could influence essential banks. ., , , banks. it would be the first, vietnam _ banks. it would be the first, vietnam is _ banks. it would be the first, vietnam is been _ banks. it would be the first, vietnam is been cutting - banks. it would be the first, vietnam is been cutting and banks. it would be the first, i vietnam is been

ubs, the value for the yen over the next 12 months is around 124 mark. fate of the yen depending on what the boj will do in the next few months? economists surveyed by bloomberg do not expect boj to do anything for the rest of the year. ruth: absolutely. it's a tug-of-war for the yen, between the yen bears and bulls, who is right. we think about it it's been interesting to watch the yen's moves in the last few trading sessions. normally when the central bank tightens monetary policy the currency tends to strengthen as we have seen in the dollar reaching a record high last year for example. the yen has been different. we saw it on friday and at 142, it's trading weaker than this time last week before the weekend. this just goes to show how investors are really trying to digest a lot of what the boj is doing it is going to do. are they really tightening? how higher they willing to go when it comes to intervening in markets and until the uncertainty abets you could see weakness before potentially strengthening. shery: senior fx and rates reporter ruth carso

sources tell bloomberg that ubs wants to neutralize the risk to its profitability and be patient.scrutinizing the approximately $86 billion book of loans made to rich clients globally. sources say they have keyed in on these loans to the aipac clients. they say the bank intends to wind down or selloff most of the credit cease -- credit suisse structured loans in that region. and they say these riskier assets are to be placed in a so-called non-core unit for businesses that ubs, according to the sources, no longer want. about a quarter of credit suisse's's lending portfolio is in its global wealth business structure in nature. half of it consists of lower risks playing lumbar loans. it is important to point out that prior to the ubs takeover, credit suisse had pursued a decade-long push into southeast asia where it lend to billionaire business families, and that help make credit suites the -- make credit suites the bank they went to. sources tell us the client list and the asia-pacific region also includes some clients and structures of loans which include both individuals and the

this is from the ubs lab that looks at qualitative data and quantitative around hokas.irst quarter searches rose 64% on a two-year average and 68% year over year in june. >> it's kind of -- ubs's big data quaunt model. that price target, equivalent to 23 times fiscal 2026 earnings. what they're implicitly saying is deckers deserves one of the elite valuation premiums in footwear that's not too far short of where nike trades on a distant forecast like that what's fascinating to me is how hoka has exploded as a brand almost out of nowhere. the company, deckers, has owned it for a decade. in the last few years it's been everywhere i guess the question is, you know, is that sustainable, but they think so. >> because we've seen these trends come and go, especially with other footwear brands on is also having a big moment and that stock went public staying in the shoe space, baird calling crocs a fresh pick ahead of earnings, maintaining outperform, $185 price target. the firm sees a beat and raise for the second quarter expecting the report to show continued strength for cro

ubs officially took over the troubled swiss bank last year inheriting its legal issues.er $5 billion when the investments i'm defaulted in 2021. gdp in south korea grew half a percent on a quarterly basis last year and that could have an impact on how the bank of korea moves when it meets next month. it was one of those in asia who aggressively hike to borrowing costs starting from 2021. earlier, i spoke to an oxford economist to explain how the latest data could influence the central bank. it is possible the bank of korea will be one of those that aggressively raised interest rates and cuts back, but we don't think it's going to be just yet, especially given they are an inflation targeting back, and even though inflation has been coming off, it is still above the 2% target, and i think the last one was 2.7%, but it has been declining... figs but it has been declining... as ou but it has been declining... as you mentioned, inflation still at 2.7%, close to the 2% target but still not there yet, so why not wait until they actually managed to hit the 2% target? it's a trick

gareth mccartney from ubs global, cohead of equity capital markets is joining us to discuss this. tis bloomberg. ♪ >> there are global challenges that we will not be able to meet without china. climate change is the most important one. we are in dialogue that is very open with china on trade. we want leverage and equal footing for everything concerning trade. alix: -- guy: that was the spanish foreign minister speaking to bloomberg yesterday with maria tadeo in an exclusive interview. taking us back to our question, when does china go from a headwind, that none of us expected, to a tailwind? gareth mccartney from ubs, global cohead of equity markets, joins us on set. >> the surprise today as we have equity markets up and volatility at a five-year low. we have not seen this transition to a capital markets issuance and it has been a really tight start to the year. guy: everyone thought it would be at a when. we got the opposite of that. equity markets in the u.s. have sought up, particularly the nasdaq. >> the playbook was right. china was going to reopen and the rest of the world w

now we speak with nadia lovell ubs financial services senior u.s. equity strategist.t do you think? nadia: i think the expectations are for the pace too slow. you heard that from the banks with the earnings call this morning despite the strong resilience we saw out of jp morgan. they point to signs of caution ahead around the consumer. and the consumer remains strong yesterday. in terms of the earnings season, it is -- about what you pay for those. yes, companies will likely be lower expectation and the consensus is looking for a decline in earnings given the fact we have a positive economic surprise. but a lot of this is priced in that we think the -- set up coming into earnings as one of the strongest pre-earnings rally in about two years. sentiment has improved even as we saw as you mentioned this morning and position has improved as well. the tailwinds have made it. dani: it is consumed -- confusing consumers or more -- are more confident. in jp morgan is slowing the spending it into the cash buffers. how much would it need to slow to hurt equities? how painful do

shamaila khan from ubs asset management americas. to have you joining us today. i have to ask you, this looks like a significant step. what has changed? what is driving these countries that have had these debt problems for years to make very significant changes? >> you said it spot on. many emerging market countries are using this crisis as an opportunity and bear using it to pass structural reforms to have more fiscal discipline and many countries, especially in the frontier space, have undertaken very difficult currency adjustments. to basically balance the supply and demand of their countries at the high cost of inflation. those are the reasons why the news on emerging markets has been quite positive and leading to a significant rally across the board. kathleen: let's look at a couple of countries. let's start with egypt. they have been a distressed country for a long time. they are selling state firms. they are privatizing. how convincing is this? are investors buying it? >> they should be buying it in our opinion. they are serio

is ubs having to compete to retain?ut the door so those prized workers, the ones that have the relationship with the richest clients, i suspect a big chunk have moved. this particular initiative is focused with more of those looking for the lower right leadership -- lower ranked field -- leadership positions. a few household names that shows the rank and file is still -- there is still appetite for ubs to keep these credit suisse managers. guy: nigel faraj of brexit fame now having issues with the availability of bank account stop i see the front part -- the front page of the guardian, -- what do we know about this, he has claimed there is political interference. what is going on? >> not faraj using its platform to complain about his treatment and we know the bank was -- what he has said it is he has been discriminated events and being booted out for no reason other than political views and he has been able to find a bank to replace him and he is -- he said he is in a banks in the u.k.. that was his side of the story an

we talk about people in the ub,? ., ~' ., , ., ., , the pub,?eole the pub,? talking millions, how many people actually _ the pub,? talking millions, how many people actually have _ the pub,? talking millions, how many people actually have televisions? - people actually have televisions? most _ people actually have televisions? most people, and it goes from 3.5 million to 5 million in the course of six weeks, which when you consider how many people had televisions, and about 11 million were watching cueto mass and the pit by were watching cueto mass and the pit by the end of the decade. . but it was talked about in the papers, it was talked about in the papers, it was talked about with the not suitable for children and the nervous disposition... but what about the _ nervous disposition... but what about the legacy _ nervous disposition... but what about the legacy of _ nervous disposition... but what. about the legacy of quatermass, if you look at what happened afterwards? i you look at what happened afterwards?— you look at what happened afterwa

ubs saying it's limited up side risk because strong execution is being limited. shares of tesla down more than 1% >>> and time now for your global briefing we begin with china's economy facing new challenges. the recovery will be, quote, torturous. citing the top decision making body of the ruling communist party. the report adds it will roll out the macro adjustments as it sticks with a cautious monetary policy >>> inconclusive results with the right and left failing to secure a clear path forming a government despite the opposition people's party winning the most seats of parliament the deadlock leaves it in limbo. in 2015 and 2019 bain capital says it's entered into an agreement to buy out all of the adani family's investments in the company they will keep the 10% stake. >>> the one word that every investor needs to know today plus a critical week for investors. earnings set among the key drivers. we lay out the moves to make with your money coming up next. >>> then tomorrow, "worldwide exchange," the co-ceo of oak dlgs tree capital management, armen passn.noi

haidi: bankers at credit suisse are being told to dust off the resumes ahead of the takeover by ubs.ter joins us now. good news? >> yes. the top ranks will be dominated by ubs people but this is signal to credit suisse step they can get some of those management roles. this is just saying to them dust off your resumes and as we go through the selection process we want to make sure you are updating your resumes, highlighting skills, and how open you are to mobility. they have been asked to do that by july 13, but more than half of the workforce will be cut of credit suisse. haidi: how does that play out in asia. >> asia is one area that will be spared from deep cuts in private wealth. credit suisse will retain a few hundred of their private wealth bankers in this merged entity putting ubs ahead of their big rivals in the area. in australia and india, it will give the bank a presence that they did not have before. rishaad: ok you know i mean we have the announcement of huge numbers of staff cuts. do you know what is likely to be announced in the days and weeks ahead? >> in the next week

regulators have find ubs a record penalty of $112 million. learned apple is asking suppliers to produce around 85 million units of the iphone 15 this year, roughly in line with reduction orders in 2022. the company will hold shipments steady despite projections of a decline in the overall smartphone market. the tech giant is considering raising the price of its pro models, which will likely increase overall revenue. elon musk has pushed through without change of twitter's, replacing the blue bird with a stylized x. he invited his followers to suggest the next logo and proceeded to choose one of the designs, replacing the bird within 24 hours. elon musk plans to adopt it as an interim design and the logo will be refined later. the move is part of the billionaire's vision of chance forming the 17-year-old service into an everything app. shery: take a look at the asian session. mixed picture when it comes to futures pricing and kiwi stocks trading at the moment because we are seeing kiwi stocks down for the first time in three sessions, down 3/1

regulators have also find ubs a record penalty of $112 million.shed through with a change of twitter logo, replacing the blue bird with a stylized x. he invited his followers to suggest the next logo and proceeded to choose one of the does signs, replacing the bird within 24 hours. elon musk says he intends to adopt it as an interim design and the logo will be refined later. the move is part of the billionaires vision of transforming the 17-year-old service into and everything app. haidi: take a look at how fx is trading across the board, of course a little bit of sideways price action, given that we have momentous central bank decisions from the fed to the ecb and rounding out the week with w. this is what we are seeing when it comes to the broader dollar index and of course we had a study session for the dollar. a move when it comes to the euro, falling to a two-week low after the paying line numbers came out. aussie dollar holding steady at 67.38. futures in sydney are's extensive a percent higher. dollar-yen seeing more of a move as speculatio

katie: what is the base case at ubs?> we are still in the camp that we have three recession models where the modal outcome is a downturn of mild recession. unfortunately for the market, people got too excited and calling for the turn and starting middle and second half of last year so a lot of clients are once bitten twice shy but we ultimately think the yield curve murder model, is very consistent with the recession that's coming. we think the leg of credit tightening clearly plays out four-six quarters after the start. that started really in the third quarter of last year and combined with that, you hear from a number of early earnings reports that the consumer strength is fading or at least shifting so we think christmas saving slow down and ultimately credit tightening hits the economy. we are not overly negative in terms of our spread targets relative to a typical recession but we are basically looking for peak spreads of 30-40 basis points wider than ig and at high yield, one hundred 50-200 basis points wider for t

that comes moments ago after the fed found ubs --fined ubs.iting that credit suisse had a seriously and systematically violated financial market law in the context of its business relationship with the archegos family office. this is bloomberg. ♪ g healthieracti ons. because they know health isn't just a future state. health happens now. start your dna-powered health journey today with personalized insights from 23andme. i don't want you to move. i'm gonna miss you so much. you realize we'll have internet waiting for us at the new place, right? oh, we know. we just like making a scene. transferring your services has never been easier. get connected on the day of your move with the xfinity app. can i sleep over at your new place? can katie sleep over tonight? sure, honey! this generation is so dramatic! move with the xfinity 10g network. caroline: this is a coming up, put becomes x, willem marx next some changes to the social network, what is the vision for the company -- elon musk make some changes to the social network and what is the next vi

manufacturing is bouncing back, ubs is the trend could last through the end of this decade in the nextod news to stocks who are ubs construction like rockwell automation, eaton, emerson electric and train technology. >> on ambiguous good news. let's go to actionable news, what is yours carlton's pemmican might be a little ambiguous i'm taking a look at goldman sachs the bank has had a tough time and serious write-downs with quarter missed on earnings i don't want to say all of the bad news is behind but it's trading at book value which has historically been a good spot to get in, the bank does not have to do much more to improve just the pickup and dealmaking in a good entry point right now. >> people with bad knees you have an actionable idea. >> med tronic in the device space but the whole group is starting to pick up his people are finally getting these procedures, here is a stock that bottomed in march and it's been rallying since then but at the highest level since may it if it can break above 92 there's a lot of good upside one of the last reporters and we will get the results un

i tout-ub— come from quite a privileged. i tom-t-ub m— come from quite a privileged.his pressure, which this area of low pressure, which is really going very is not really going to go very far over next few days. and far over the next few days. and note that the tightly packed isobars indicate that it's going to fairly blustery 24 to be a fairly blustery 24 hours. end saturday, hours. so as we end saturday, fairly quiet end to the day across southern but across many southern areas, but across many southern areas, but across further across the north, further showers on a fairly showers moving in on a fairly keen . some persistent rain keen wind. some persistent rain continuing shetland and continuing across shetland and orkney and here actually the winds will strengthen further as the night goes on. certainly the risk gales as we start risk of some gales as we start sunday morning. all of sunday morning. but for all of us, temperatures generally staying . so staying in double figures. so sunday starts off with plenty of sunshine across the south and it really remains t

ubs officially took over the troubled swiss bank last month, inheriting its legal issues.when archegos defaulted back in 2021. around the world and across the uk, this is bbc news. bbc news, bringing you different stories from across the uk. all the plastic that's ever been created still exists in some form, because it takes so long to break down — leading to pollution like this. but a new invention might be able to help. this may look like a normal plastic bag but there's something quite different about it. it dissolves in water. in boiling water this process takes about a minute. i caught up with the australian company's co—founder at the bupa eco—disruptive live event for start—ups to find out more. so these bags look like plastic, but they're not. what's the magic ingredient here? 0ur magic ingredient is the cassava plant and more specifically, we use lots of starches. what's the advantage of these over say plastic bags in terms of sustainability? there's no micro plastics when it breaks down - and there's no toxins as well. it can dissolve in hot - water in under 60 s

stuart: ubs, a week away from a possible strike. >> the plan to meet today, i here they are close tomade concessions on the air conditioning. look at this heat wave i get that but still more to be done for part-time employees. we are not talking about this, the average salary is $80000 not including benefits fired at $50 billion. stuart: average earnings between 95000 a year plus benefits. >> but a lot of labor unrest and better scheduling, i spoke to patrick anderson of anderson economic group calling this labor militancy says ten day strike if that happens, could cost $7 billion in the consumer would almost immediately feel that because of the heavy value and tens of millions of packages ubs loses a day. stuart: somebody's got to be bullish, up .25%. >> most people, a lot of people do grocery shopping at walmart now because they have better prices so diverse and there is saying using costs for walmart will mean even better prices for you and walmart is gaining market share so they upgraded to apply. walmart is the biggest grocery store chain nationwide, 25% of the market ended last

and darren and i burned ub— unlawful. and darren and i burned ub ro— unlawful.ver? and— are you trans, are you whatever? and rr-s— are you trans, are you whatever? and us for— are you trans, are you whatever? and it's for goodness sake, do we ready— and it's for goodness sake, do we really need— and it's for goodness sake, do we really need this in britain in we really need this in britain n 2023,— we really need this in britain n 2023, we— we really need this in britain in 2023, we have— we really need this in britain in 2023, we have a multi—ethnic counrry— in 2023, we have a multi—ethnic counrry now— in 2023, we have a multi—ethnic counrry .— in 2023, we have a multi—ethnic counrry . we— in 2023, we have a multi—ethnic country now . we have a country country now. we have a country wrrb— country now. we have a country wrrb robs— country now. we have a country wrrb rors or— country now. we have a country with lots of different religions. _ with lots of different religions. there are very many erbnrc— religions. there are very many erbnrc groups— religions. ther

ubs says electric grid investment is entering a new phase of growth.e abb and siemens work on power distribution there are companies which make software solutions, frank, specifically for utility companies. >> really interesting stuff here, pippa, especially with the heat wave. you said it was too hot to leave the house this weekend apart from commitment upgrades, what are longer-term solutions for grid stability >> one is that sophisticated software companies have to understand the balance with supply and demand when it was fossil fuel generated, it was easier you can ramp up the coal power plant. that is not the case of they have to understand how the overall picture looks. the other is transmission lines. we have to have the transmission infrastructure to carry it from arizona to the city distribution centers. >> i thought you were going to say a.i. pippa, great reporting thank you. >>> let's talk about extreme weather. let's get a check of the headlines with frances rivera in new york frances, did you leave the house? was it too hot >> and the rain

apac ahead of multi-asset portfolio management and ubs asset management.ina does stimulate, and the dollar has been weakening of late, what do you think is behind the weak dollar and can that continue if and when china continues to do something special? >> you were talking about dollar-yen. there are rumors in the market that yield curve control adjustments to that may be coming earlier than the market expected. i think that's the move we see in dollar-yen at the moment. sitting at seven and a quarter essentially, we start to stabilize that, we probably don't want to see that go too much further than 747 50, but they need that to boost exports at the moment. i think chills touched on some interesting things around the banking sector. what we are observing is the government's cutting rates, expanding credit, but what's happening is it's staying in the banking sector. you think back to when shadow banking was reduced or put regulations around it, we think we need to get it back on. that's how it gets into the real economy really quickly. and what we are obse

ubs citing stabilization and cloud spending and a.i.-term catalyst shares of microsoft up 1% this morning. and morgan stanley names sands the top pick in gaming the stock is the best way to play the macao trade shares up 1% >>> time for the "global briefing." conversations dominating trading desks around the world australian appointing the first central bank governor. bloomberg reporting francois-henri pinault is in talks to buy caa talent agency it could fetch a valuation of $7 bil billion. and a boost of trading on the back of beijing a.i. regulations. rules stress the network security and data regulation as the a.i. industry grows. >>> let's stick with china wall street changing its tune despite the weak economic data credit suisse saying it is oversold and adding it is opt mission -- optimistic on the trade. we saw speculation that beijing sector crackdown is nearing the end. yesterday, secretary of state blinken met with another top chinese diplomat in indonesia. another sign of thawing relations. joining me on the cnbc news line i

. >> finally to corporate news a has -- hefty task for ubs to the tune of $387 million. winds related to misconduct by credit suisse in its dealings with our cake us. ubs has agreed to pay $268.5 million for the unsafe and unsound counterparty credit risk management practices at credit suisse in a consent order with the fed. let's not get a look ahead to some of the other developments that we are watching today, at 7 p.m. london time will get the lever earnings. all eyes will be on the consumer side and new ceo in his initial views after taking over this month. the main question is can unilever pass through inflation to the consumer and also, are we going to see slower growth a rebound or sold? we will bring you that in at 9 a.m. london time we have the german those expectations survey , this is usually one of the best indicators of germany's growth and especially the business expectations. i will be particularly interested in this release after the survey from amplified, those concerned about germany's recovery. at 9 a.m. we will also get the euro area bank lending surv

are there changes when it comes to the trading desks paying off with ubs and credit suisse emerging?clays and deutsche bank could be taking? there's a lot of dynamic things happening this month and i cannot wait for ubs at the end of the month. guy: it's going to be fascinating to see the commentary that goes around that story, how much progress are they making, what are they doing in terms of headcount? it's been a fantastic week of coverage. thank you very much indeed. european stocks coming into the close up around .2%. euro-dollar is down on the week. we talked about it earlier on. as the buck stopped? we have a swedish steel company down 12%. ported takiactiealthier ons. because they know health isn't just a future state. health happens now. start your dna-powered health journey today with personalized insights from 23andme. - we're taking the family to cancun. - i'm off to iceland. - my husband and i are going to paris. - how are we getting there? - with going. - just sign up for free, and going finds amazing flight deals. - to places we've always wanted to see. - and some i ne

ubs what did they say about tesla. >> no immediate for the company, they cut the rating by one notche target to $2070, they are saying you cannot deny what tesla has done remarkable progress but that 30 price ten. the next catalyst. driving goes a long way out in cyber truck coming likely next year, ubs is saying wait until the second half until 2024 until they can be very confident on the stock again. i bring you this reuters is reporting tesla is talking about a factory plan in india with the india commerce minister to make and sell the car to 4000 u.s. dollars speaking of catalyst that'll be a major catalyst. stuart: got it. american airlines i believe they negotiated a new contract with the flight attendants union. have they sweetened their pilots? are they sweetening their offer to the flight attendant. >> they might have to, they have for the pilots by a billion dollars pre-were talking $9 billion over four years, that is the deal, it is more than money it is worklife balance. there is so much traffic and people are traveling. a pilot let's say there on assignment for three day

>> yes >> dates back to the ubs note a few weeks ago. >> sweeping the country, and a lot of people get and got to warm up >> can i just switch things for a second i want people to know who larry fink is. larry fink played a big role in exxon, buying denver now, that's an extenuated thing, but his view on climate risk as an actual risk to our economy has made a lot of people feel like, you know what? i don't know if i want -- i've got to be and pressure everybody, including fossil fuel companies, to please help this earth. and you know something he has a conscience. >> yeah. i still think -- and i tried to get an answer from him -- that the capital doesn't necessarily flow where it would be best used to decarbonize because of these no-go areas that don't make sense. >> it's true >> you don't go to -- you don't invest in a company that you think has a big carbon footprint, even though they may be trying to improve it. >> he does offer the choice for institutions to be able to say how you feel now, it's the first level of democracy i've ever seen in the institutional level because he has

kevin, three consumer phase names you bought, home depot, starbucks and ubs. talking about the impact to higher rates on the consumer as you're buying into consumer facing stocks. home depot, a name that is impacted by the housing market why did you want to buy now? shares are down actually 3% year to date? >> we want to look for things that may be out of favor, tons of free cash flow. any of us lucky enough to own a home, we realize we're constantly spending on it. and for me and we're always looking at dividends a very solid yield but, more importantly, getting incredible dividend growth. this is a stock that over the past five years has a compounding annual growth rate of 16.4% in 2018, five years ago, it paid $4.12 a share. today $7.60 a share. that's how you want to invest, get into companies that are increasing their dividends because they're increasing earnings >> i want to talk the dividend story. 2.75%. the lowest on any treasury today at least and for most of this year is the dividend story as viable now with yields on bonds so high? >> it's not as v

lizzy: the credit suisse takeover by ubs. how much are you benefiting in wealth management?had really good inflows of net new money the first half of the year and some of it came from credit suisse and some is the organic growth we have experienced for years now. wealth is rising across asia, middle east, and africa markets where we operate and i think we are picking up some market share. you have to see whether we are really picking up share but it feels like we are. the combination of some of the credit suisse money diversifying away from combined ed -- ubs, some combined chinese and other asian investors accumulating wealth wanting to invest it in high quality international product. the general underlying economic trends are all boding well for that business. haidi: bill winters they're speaking exclusively to bloomberg's lizzy burden. turn into bloomberg's bloomberg radio to get in-depth analysis from the daybreak team there broadcasting live from our studio in hong kong. much more ahead. this is bloomberg. grand canyon university's rn to bsn online degree program with l

that is the thesis for ubs and alli mccartney she'll join us next. >>> graycroft founding partner dana settle on the firm's new partnership with coca-cola on a vc fund and the state of venture capital. >>> markets, meantime, benefiting somewhat from the financial reporting that came out earlier today. tech took a while. began to play along here nasdaq's up 33 nasdaq's first close yesterday above 14k since april of '22 just a sign of the week they put together, the bulls put together. >> it seems like the pain trade continues to be higher as we've seen pretty much all year long the news has come in on lighter inflation overall and better economy. that's been a good risk for stocks risks, the economy could be better than we expect or inflation is rearing its ugly head for now, the market is focused on the good news we have more with consumer confidence last hour. >> biggest increase in sentiment since '06 and the biggest increase in expectations in the last couple of years we'll get to retail sales and housing numbers. we'll get a better fikt of how the consumer is feeling. >> quiet peri

. >> remember ubs bought credit suisse when it had its struggles earlier on this year.d of overreliance on a defunct investment firm now that unfortunately began to fail in 2021. the feds saying credit suisse repeatedly failed to address its shortcomings. so total fine is around 387, $338 million. and that's because swiss and british authorities actually took action against the bank. the initial fine is $258.5 million. ubs will have to front it now having taken over all its up operations. >> adeedas received orders for over half a billion dollars for shoes it once stopped selling. we know who this is about. give us the details. >> yeah, so the yeezy brand is actually making adidas some money. so their losses are bound to be a little less here. they had 1.2, $1.3 billion worth of shoes still sitting in stock of these yeezy brands. and they decided we're going have to write them off or sell them again. so they tried to sell them, and actually there's been a huge, huge demand for this brand as well. so yeezys are selling off. in the initial sale more than $500 million as y

ub los demandantes son varias empresas, entre ellas estÁ uber technology, podrÍan decidir se le van aintelectual. esto tras el exitoso lanzamiento de la aplicaciÓn, segÚn elon musk, meta habrÍa robado secretos comerciales al contratar a empleados de twitter y los involucraron en el desarrollo de threads ya esta aplicaciÓn tiene 30 millones de usuarios. borja: la reina del pop tuvo que ser resucitada cuando estuvo en un hospital de nueva york por una infecciÓn bacteriana, le tuvieron que dar narcam para poder revivirla, ya saben, ese medicamento que funciona contra infecciones graves y comÚnmente lo usan para revertir sospechas de sobredosis de narcÓticos, es la Última informaciÓn que nos llega con respecto a la salud de la reina del pop, madonna. carolina: estamos escuchando pedacito de la famosa canciÓn del cantante colombiano carlos vibes. el creador de esta hermosa fusiÓn musical es hÉctor palacio, un colombiano que emigrÓ a china, hace 30 aÑos, y no solamente se llevÓ su equipaje, se llevÓ el folclor de su tierra, hoy es un gran embajador de la mÚsica colombiana latina, con su gru

a combination of some of the credit suisse money diversifying on the combined ubs.d other asian investors are argument letting wealth and they want to invest in high-quality international product. >> bill winters speaking exquisitely to bloomberg. we have much more ahead when it comes to those regional bank earnings. the bank of the philippine islands posting 4.5% profit increase for it second quarter. their president and coo will be joining us at 9:10 a.m. hong kong time. look at the european future setting up given the upbeat mood here. this follows a third straight weekly gray for european stocks. this is the longest ministry for april since those -- for those equity since april. a great deal of volatility. we had consensus for 25 basis points. not much is certain going into this week's decision. plenty more to come on daybreak asia. this is bloomberg. ♪ hi, i'm jason and i've lost 202 pounds on golo. so the first time i ever seen a golo advertisement, i said, "yeah, whatever. there's no way this works like this." and threw it to the side. a couple weeks later, i

two main reasons -- stuart: i love ubs. lauren: -- a.i.soft trying to buy activision, the u.k. regulators saying, no. moth seems to be -- microsoft seems to be ready to make some concessions to get this deal to go through across the pond, and the u.k. regulator extended the deal's deadline. for six weeks. stuart: investors clearly believe the deal will go through, otherwise activision blizzard would not be at $91 a share. there you go. all good stuff. meta's threads, i know they had a huge debut, 100 # million -- lauren: yeah. in four or five days. stuart: has the momentum continued? lauren: no. they say since the launch on thursday time spent on threads has cut in half to 10 minutes. okay? daily active users fell by 20%. so does that mean that the hype, that early hype wore off and wore off pretty fast? i'm not on threads, although i do have an instagram account and they're linked. it's described to me as being a big group chat. and that seems boring, right? [laughter] there are so many different social media platforms out there. why do w

joining us is ubs managing director and private wealth investor, alley mccarthy. also with us, mark tepper. mark, i want to kick things off with you on the expectations of inflation. ppi important? >> it is important. when the ppi number is below the cpi number, that's good for businesses, good for margins, shows companies are able to pass through higher costs to consumers but it's not costing them as much to produce. that's certainly a big deal. when we look at the inflation picture overall, though, while things are getting a lot better, the war is not finished. we're not quite there yet. sticky inflation still remains too host you look at rents, you look at wages, that remains an issue. we have a lopsided labor market that exists to this day and i think a lot of those things will have to take care of themselves in order for us to get inflation under wraps but from a stock market standpoint it's really incredible what the market can has done this year. maria: it really is. >> up like 16% in the face of negative economic data, all year long. maria: 6500. >> negati

shares are up almost 2% today, the company pushing into the chinese market with mrna vaccines at ubs and we will talk about strike worries. right now those stocks are off 2%. of worse now we have been watching rivian shares today as the company making those electric man's for amazon for the first time getting into the european market with some encouraging analyst commentary helping the stock on an intraday basis right now, up about 2%. matt: rivian, firing on all cylinders, though i'm not sure what the flint phrase would be for ev. ed ludlow will be interviewing this eof rivian in a few hours. looks like the stars are aligning, finally, maybe again, for this company, finally delivering these vans outside the u.s. for the first time. how does it from your vantage point? ed: running on full charge, something like that? as they noted in their up great of the stock, all the headlines recently have been positive. i guess the question for later today is was there a turning wait for production? they did really ramp up production through expectations. it's a technology focused story. what th

25th to resolve the remaining open ubs is a mammoth in a shipping company.more than 300,000 union workers walk off the job, logistic experts say expect supply chain disruptions across the board health care with the delivery of critical medical supplies could be interrupted instruction, even the automotive industry, the consumer that needs parts replaced at the auto dealership. >> most of those parts get from wholesalers to the auto dealership by a parcel carrier like ups, rural areas and small businesses could be impacted. most. >> new data from the anderson economic group says a 10 day ups strike would cause 4 billion dollars in losses for consumers and small businesses. this happens. you're not only talking about one of the most expensive strikes history. you're also talking about the potential impact that it's going to have on consumers, businesses. it could be crippling. >> with just a peart say now is the time order to assess super some line before it's too late. also finding both my god. i need up accounts with beckstead of accounts with u.s. postal se

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. >> the other thing that rumbled your sector was a credit suisse takeover by ubs.benefiting in terms of wealth management? bill: we had really good inflows with net new money in the first half of the year. some of that came from credit suisse and some as organic growth we have in expensing for years now. wealth is rising across the asia, middle east, and african markets where we operate. we are picking up a bit of market share. we have to see how everything will settle out but it feels like we are picking up share. some of the credit suisse money diversifying away from ubs and some ongoing chinese and other asian investors are accumulating wealth and wanting to invest it in high quality international product. and then the general underlying economic trends are boding well for that is. david: bill winters, ceo of standard chartered speaking exclusively with lizzy burden, our colleague in london. there is plenty more ahead. lots of stories to tell you about as we get fresh trading week and the markets are on a front footing as they say. there we go. 3.5% on the hstec

25th to resolve the remaining open ubs is a mammoth of a shipping company.n workers walk off the job, logistic experts say expect supply chain disruptions across the board health care with the delivery of critical medical supplies could be interrupted construction, even the automotive industry, the consumer that needs parts replaced at the auto dealership. >> most of those parts get from wholesalers to the auto dealership by a parcel carrier like eps rural areas and small businesses could be impacted. most. >> new data from the anderson economic group says a 10 day ups strike would cause 4 billion dollars in losses for consumers and small businesses. this happens. you're not only talking about one of the most expensive strikes history. you're also talking about the potential impact that it's going to have on consumers, businesses. it could be crippling. >> with just to spurts say now is the time order to assess super some line before it's too late. also finding both my god. i need to >> up accounts with beckstead of accounts with u.s. postal service set up a

in a club, a member's ub not far from here, a year or so ago, there were a couple of occasions when other -- he groped them, on their bottoms, those men found themselves being touched while they were there in a social event with other people around, and so they found it extremely uncomfortable, extremely unnerving, and they found themselves in a difficult position because of mr. pincher 's role. so that was the reason that this committee said that he had. his actions were unacceptable and brought parliament into disrepute. he said the actions of a senior mp like that caused anyone in parliament to -- >> the reason this might stick in people's minds is because towards the end of boris johnson's reign in number 10 he was asked about what he knew about pincher's behavior. what does this judgment today say about what boris johnson new and perhaps did not? >> you are right. this particular incident was the final trigger for the downfall of boris johnson, because when he was questioned about it, he had said that he had not been warned that mr. pincher had behaved like this or there were questio

outflow of funds and a decrease in liquidity, later the credit institution was sold to competitors from ubsas the news of the economy in short. now to the events in the kherson direction of the special operation, where combat missions are being carried out by the 8th artillery regiment , alexander lukyanov visited its location hold on tight all kinds of birds fly, they can throw something on their heads, the left bank, the enemy’s lie is about 15 kilometers away, his drones can see our movement in this area , direct artillery, so we move off-road at top speeds. in addition, one stuck on the sands can be deadly. now we are going to the positions of the 8th artillery regiment, which was created in 2014 for the negotiation defense of the crimea, but first of all, a special military operation performs a combat mission. here in kherson direction due to the arrival of ukrainian rockets. here the forests of the military are burning. sometimes you have to extinguish it yourself when the fire comes close to the settlements . further, only on foot, the car is too noticeable for enemy reconnaissance d

we see a rebound in the sf -- jonathan pingel at ubs.-- our bloomberg's economic correspondent michael mckee, which date it matters? if we have increasingly data-dependent and ecb, markets are not moving much on this? , when does it matter? mike: it will not matter in till we get into september. we have a lot of july data we start in on next week. we get the september jobs -- august jobs numbers in september. and we get more cpi numbers and pce numbers, the fed will have a lot of data between now and then that could change. right now, the situation looks pretty good and that is why i expect jay powell to be buying at the happy hour this afternoon, but when you look at the nation numbers, they are moving in the right direction which is what they want to see. but we will have to get a breakdown from jonathan ferro once the markets open up about goods whether we see consumer staples rise because good spending rose faster than services spending according to the government in the month of june. lisa: interesting. hermes came in better than ex

i cons-ub— come from quite a privileged. i uon-b-ub bn— come from quite a privileged. go very far over next few days. and far over the next few days. and note that the tightly packed isobars indicate that it's going to fairly blustery 24 to be a fairly blustery 24 hours. end saturday, hours. so as we end saturday, fairly quiet end to the day across southern but across many southern areas, but across many southern areas, but across further across the north, further showers on a fairly showers moving in on a fairly keen . some persistent rain keen wind. some persistent rain continuing shetland and continuing across shetland and orkney and here actually the winds will strengthen further as the night goes on. certainly the risk gales as we start risk of some gales as we start sunday morning. all of sunday morning. but for all of us, temperatures generally staying . so staying in double figures. so sunday starts off with plenty of sunshine across the south and it really remains that way for most of the day. some fair weather cloud bubbling up from time to time. northern are

however , this amount will have to be paid already, well, to the owner who bought the ubs bank that wentankrupt not so long ago. he will also have to create a unit to oversee the financial crisis, the us share of european airlines and tour operators are rapidly losing value. well, among them are the british carriers of the izijet british airways and the jettu tour operator and the german tui, the largest tourist concert in the region, the day before they announced suspension of flights to the island of rhodes as a result , due to interruptions in air traffic and the massive evacuation of people, securities. on the london stock exchange. they fell by an average of 5%, the fire in rhodes has been extinguishing for a week, i note. now there are more than 200,000 tourists on the island. and briefly the dollar exchange rate is 90 rubles. 48 kop. and euro 100 rubles. and 36 kop. artyom thanks to him, we continue. we now here are the promised footage from nigeria there are large-scale fires in the southwest of the country , a fuel truck exploded known, at least 15 dead, including pregnant women

were you looking at, was ubs modeling for at least two more raid hikes this year? >> no, so we think this is probably the last rate hike this year. fed funds futures pricing in on about 50-50. it wouldn't be september, it likely would be past that. a lot has to do exactly what you were talking about, what they were talking about coming into this show is this lag effect. we've been mentioning this. we've been mentioning this, saying this long and persistent lag, in sort of amorphous way. sew that lag is probably where between 12 and 15 months. we're about 15 months, right? so i think we're going to start to see that and we're definitely starting to see some prohibitive rates, whether it be credit cards, home equity loans. so i think the moderate, the modest to moderate was acknowledgement of some of the positive data we're seeing in the economy, resiliency of the consumer. we saw the conference board number came in today. it was the highest level of individual satisfaction and basically bullishness we've seen in two years. charles: right. >> the gd -- ims, increase

. >> will: last night i was doing the most ub healthy do, scrolling through my feed.r read about -- >> joey: i read that. >> will: the american flags, in the united states when you see american flags flying, it is normal. in the uk, when you see their flag flying, you are neo-nazi. in 1700, a select group of people got on a boat and went in search of a better life. 99% of the people said that is a crazy idea. that explains the difference in the u.s. and the uk and establishes the united states from everyone. they got on the boat. i'm going to risk it. at first people are like, i'm good -- >> joey: sorry, rachel, looking for a place to put my elbow. the biggest brands in uk are fashion and in the united states is tech. he is a proud brit, he spun that back to say we're poorly dressed. it came across gen wen. i saw that, too. today isn't about us versus them, although i don't like to talk about the royal family, i hold that. >> rachel: i like to dig on them. >> joey: we're proud to be in this country. >> will: proud to have you with us this morning. >> rachel: some peop