Sergio Ermotti, chief executive officer of UBS GroupStefan Wermuth | Bloomberg | Getty ImagesZURICH, Switzerland ꟷ UBS CEO Sergio Ermotti said Wednesday that market volatility could intensify in the second half of the year, but he does not believe the U.S. is heading into a recession.Global equities saw sharp...
It is a make-or-break moment for China's relationship with the European Union, as the bloc's trade chief asks for more openness and fairness from Beijing."We stand at a crossroads. We can choose a path towards mutually beneficial relations. One which is based on open, fair trade and investment, and...
A.P. Moller-Maersk, is one of the world's biggest container shippers with a market share of around 17%, and is widely seen as a barometer of global trade.Andia | UIG via Getty ImagesCopenhagen, DENMARK — Shipping giant Maersk on Thursday presented its first container vessel moved with green methanol, a...
European bank shares dropped significantly in August after a surprise announcement from the Italian government for a new tax.Stefano Montesi - Corbis | Corbis News | Getty ImagesItaly's shock tax on banks continues to prove controversial, even as the government insists it can improve it.Europe's main bank stock index...
The Bank of Japan headquarters in Tokyo.Bloomberg | Getty ImagesThe Bank of Japan announced Friday "greater flexibility" in its monetary policy — surprising global financial markets.The central bank loosened its yield curve control — or YCC — in an unexpected move with wide-ranging ramifications. It sent the yen whipsawing...
The European Central Bank announced a new rate decision Thursday.Daniel Roland | AFP | Getty ImagesThe European Central Bank on Thursday announced a new rate increase of a quarter percentage point, bringing its main rate to 3.75%.The latest move completes a full year of consecutive rate hikes in the...