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Bloomberg
Financial

UBS CEO Ermotti Says Proposed Capital Compromise 'Bearable'

UBS Chief Executive Officer Sergio Ermotti said the idea to let the lender use a form of debt known as AT1 bonds to meet some of the capital requirements being proposed by Swiss lawmakers would be "bearable." Ermotti made the comments in an interview in Neue Zuercher Zeitung published Sunday. Bloomberg's Tom Metcalf reports.

Leia mais: UBS CEO Ermotti Says Proposed Capital Compromise 'Bearable'
Bloomberg
Financial

SocGen Lifts Profitability Target in New Plan

Societe Generale lifted its profitability target as CEO Slawomir Krupa aims to cut costs and boost investor payouts with a new strategy. The French lender increased the goal for its return on tangible equity to between 13% and 14% in 2029 and to more than 15% after that, according to a statement Monday. Bloomberg's Tom Metcalf reports.

Leia mais: SocGen Lifts Profitability Target in New Plan
Bloomberg
Financial

Black Sea Impasse Adds to Global Economic Damage

The impasse in the Black Sea following a summer escalation in Russia's war with Ukraine is compounding the economic damage from the conflict in the Middle East by threatening to drive inflation even higher. Connecting Europe and Asia, the Black Sea is a critical conduit for global crop shipments to some of the world's most populous nations. Bloomberg's Pyotr Kozlov reports.

Leia mais: Black Sea Impasse Adds to Global Economic Damage