Latest news with #UBSAG
Yahoo
14-07-2025
- Business
- Yahoo
Oil Rises on Strong Chinese Data, US Moves on War in Ukraine
(Bloomberg) -- Oil rose after China's economy showed signs of strength, while traders await US President Donald Trump's next steps on the war in Ukraine. Why Did Cars Get So Hard to See Out Of? How German Cities Are Rethinking Women's Safety — With Taxis Philadelphia Reaches Pact With Workers to End Garbage Strike Advocates Fear US Agents Are Using 'Wellness Checks' on Children as a Prelude to Arrests Global benchmark Brent rose above $71 a barrel, after gaining 3% last week. China ended the first half of the year with a record trade surplus, with factories riding out the tariff roller-coaster that upended global commerce. Trump promised a 'major statement' later on Monday that could see him outline measures to address the war in Ukraine, including potential updates to US sanctions policy. Ahead of that, the president told reporters in the US on Sunday that Washington would send Kyiv more weapons. Meanwhile, official Chinese trade data showed crude imports have risen so far this year. The country's purchases of Iranian barrels jumped in June, according to data from Vortexa. 'Chinese crude imports were very solid, so it seems there is a demand for barrels,' said Giovanni Staunovo, an analyst at UBS AG in Zurich. 'Secondly, everyone is awaiting Trump's announcement on Russia.' Still, concerns over impediments to global growth may be tempering gains. Trump threatened 30% tariffs on goods from the European Union and Mexico hurting appetite for risk and the outlook for energy demand. Oil is still almost 5% lower this year as traders and investors balance geopolitical tensions in the Middle East, which stoked concern over supplies, with the US-led trade war threating to crimp global demand. OPEC+ is relaxing supply curbs, which could lead to a crude glut in the second half of the year. --With assistance from Sarah Chen. 'Our Goal Is to Get Their Money': Inside a Firm Charged With Scamming Writers for Millions Trump's Cuts Are Making Federal Data Disappear Trade War? No Problem—If You Run a Trade School Thailand's Changing Cannabis Rules Leave Farmers in a Tough Spot Will Trade War Make South India the Next Manufacturing Hub? ©2025 Bloomberg L.P. Sign in to access your portfolio
Mint
14-07-2025
- Business
- Mint
Oil Rises on Strong Chinese Data, US Moves on War in Ukraine
Oil rose after China's economy showed signs of strength, while traders await US President Donald Trump's next steps on the war in Ukraine. Global benchmark Brent rose above $71 a barrel, after gaining 3% last week. China ended the first half of the year with a record trade surplus, with factories riding out the tariff roller-coaster that upended global commerce. Trump promised a 'major statement' later on Monday that could see him outline measures to address the war in Ukraine, including potential updates to US sanctions policy. Ahead of that, the president told reporters in the US on Sunday that Washington would send Kyiv more weapons. Meanwhile, official Chinese trade data showed crude imports have risen so far this year. The country's purchases of Iranian barrels jumped in June, according to data from Vortexa. 'Chinese crude imports were very solid, so it seems there is a demand for barrels,' said Giovanni Staunovo, an analyst at UBS AG in Zurich. 'Secondly, everyone is awaiting Trump's announcement on Russia.' Still, concerns over impediments to global growth may be tempering gains. Trump threatened 30% tariffs on goods from the European Union and Mexico hurting appetite for risk and the outlook for energy demand. Oil is still almost 5% lower this year as traders and investors balance geopolitical tensions in the Middle East, which stoked concern over supplies, with the US-led trade war threating to crimp global demand. OPEC is relaxing supply curbs, which could lead to a crude glut in the second half of the year. To get Bloomberg's Energy Daily newsletter in your inbox, click here. With assistance from Sarah Chen. This article was generated from an automated news agency feed without modifications to text.
India Gazette
09-07-2025
- Business
- India Gazette
360 ONE gets CCI approval to acquire UBS India's wealth and lending businesses
ANI 09 Jul 2025, 11:01 GMT+10 New Delhi [India], July 9 (ANI): The Competition Commission of India (CCI) approved the acquisition of wealth and lending units of UBS AG by 360 ONE Group entities. According to the Competition Commission of India, the transaction involves the transfer of key financial services operations, including portfolio management, stock broking, distribution, and lending from UBS AG to the 360 ONE proposal approved by the Competition Commission suggests that 360 ONE Portfolio Managers Limited will acquire the portfolio management services business of Credit Suisse Securities (India) Private Limited. Simultaneously, 360 ONE Distribution Services Limited will take over the stock broking and financial product distribution services of the same entity. Additionally, 360 ONE Prime Limited will acquire the loan portfolio and financing business of UBS Finance India Private Limited, a non-banking financial company classified as systemically important. As part of the broader transaction, UBS AG will also subscribe to warrants of 360 ONE WAM Limited, securing a stake of approximately 4.95 per cent in the company's paid-up share AG is a direct 100 per cent subsidiary of UBS Group AG (UBS) and together with its subsidiaries, UBS AG is the operating entity of the UBS is a multinational investment bank and financial services company founded and based in Switzerland, and active globally.360 OWL is the ultimate parent entity of the 360 ONE Group. It is a wealth and asset management firm in India and serves high net-worth and ultra-high net worth individuals, institutional clients, etc., through tailored wealth management subsidiaries, 360 Prime, 360 Portfolio, and 360 Distribution, are involved in lending, asset management, and financial product distribution.360 Prime provides a range of financial services, including loans against securities and property for corporates and affluent individuals. 360 Portfolio manages various investment services, while 360 Distribution is registered with the Association of Mutual Funds in India and the Securities and Exchange Board of India, both as a stockbroker and a depository participant. (ANI)
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Business Standard
08-07-2025
- Business
- Business Standard
360 One group gets CCI nod to acquire UBS India wealth and lending units
Fair trade regulator CCI on Tuesday approved 360 ONE group's proposal to acquire certain businesses of Switzerland-based multinational investment bank UBS AG. "The proposed combination comprises acquisition of portfolio management services business of Credit Suisse Securities (India) Pvt Ltd in India by 360 ONE Portfolio Managers Ltd and stock broking services and financial product distribution services of CS Securities by 360 ONE Distribution Services Ltd (360 Distribution)," the Competition Commission of India (CCI) said in a release. Credit Suisse Securities (India) is a step-down wholly-owned subsidiary of UBS AG. CCI said it has also cleared a loan portfolio which forms part of lending and financing business of UBS Finance India Pvt Ltd, undertaken as a systematically important non-deposit taking non-banking financial company by 360 ONE Prime Ltd. Additionally, the competition watchdog approved UBS AG's subscription to warrants of 360 ONE WAM representing a 4.95 per cent of the paid up share capital. "CCI approves acquisition of certain businesses of UBS AG by 360 ONE entities," the regulator said in a post on X. In April this year, UBS announced that it entered into an exclusive strategic collaboration with 360 ONE WAM. As part of the collaboration, UBS will transfer its onshore wealth management business in India to 360 ONE. Further, UBS will acquire warrants for a 4.95 per cent stake in 360 ONE. "With this transaction, it opens the way for a global, personalised, and sophisticated wealth management experience for both sets of clients as well as significant value enhancement to our employees and shareholders," Akhil Gupta, Chairman of 360 ONE WAM, said. The deals beyond a certain threshold require approval from the regulator, which keeps a tab on unfair business practices as well as promotes fair competition in the marketplace. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Time of India
08-07-2025
- Business
- Time of India
360 ONE group gets CCI nod to acquire certain businesses of UBS
Fair trade regulator CCI on Tuesday approved 360 ONE group 's proposal to acquire certain businesses of Switzerland-based multinational investment bank UBS AG. "The proposed combination comprises acquisition of portfolio management services business of Credit Suisse Securities (India) Pvt Ltd in India by 360 ONE Portfolio Managers Ltd and stock broking services and financial product distribution services of CS Securities by 360 ONE Distribution Services Ltd (360 Distribution)," the Competition Commission of India (CCI) said in a release. Credit Suisse Securities (India) is a step-down wholly-owned subsidiary of UBS AG. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo CCI said it has also cleared a loan portfolio which forms part of lending and financing business of UBS Finance India Pvt Ltd, undertaken as a systematically important non-deposit taking non-banking financial company by 360 ONE Prime Ltd. Additionally, the competition watchdog approved UBS AG's subscription to warrants of 360 ONE WAM representing a 4.95 per cent of the paid up share capital. Live Events "CCI approves acquisition of certain businesses of UBS AG by 360 ONE entities," the regulator said in a post on X. In April this year, UBS announced that it entered into an exclusive strategic collaboration with 360 ONE WAM. As part of the collaboration, UBS will transfer its onshore wealth management business in India to 360 ONE. Further, UBS will acquire warrants for a 4.95 per cent stake in 360 ONE. "With this transaction, it opens the way for a global, personalised, and sophisticated wealth management experience for both sets of clients as well as significant value enhancement to our employees and shareholders," Akhil Gupta, Chairman of 360 ONE WAM, said. The deals beyond a certain threshold require approval from the regulator, which keeps a tab on unfair business practices as well as promotes fair competition in the marketplace.
