Posts by Liam Redmond
UBS has cut 10,000 jobs since Credit Suisse takeover in 2023
UBS Group has cut more than 10,000 roles since it bought Credit Suisse, marking a milestone in the lender’s efforts to integrate its former rival. Global headcount stood at 108,648 at the end of last year, UBS said on Tuesday (Feb 4). That’s down from a peak of 119,100 at the end of June 2023,…
Read MoreTariffs could deal US$200 million blow to Guinness-owner Diageo in second half
GUINNESS-owner Diageo estimates its operating profit could be dented by roughly US$200 million if US tariffs on Mexico and Canada are implemented in March, its finance chief Nik Jhangiani said on Tuesday (Feb 4), adding it had strategies to offset the impact. The world’s leading spirits maker generates around 45 per cent of sales in…
Read MoreGuinness-owner Diageo scraps medium-term goals as tariffs cloud outlook
GUINNESS-owner Diageo withdrew its ambitious sales growth target on Tuesday (Feb 4), in an acknowledgement a prolonged downturn in demand and uncertainty over US President Donald Trump’s tariffs require the spirits sector to make big adjustments. While investors welcomed the removal of targets they regarded as increasingly unrealistic, shares in the world’s largest spirits maker…
Read MoreNintendo cuts outlook for final months before Switch 2 debut
Nintendo revised its full-year forecast down after profit and revenue plummeted over the holiday period, with gamers increasingly looking forward to the release of its next-generation console. The Kyoto-based company now expects 280 billion yen (S$2.44 billion) in operating income in the fiscal year to March, slashing more than a fifth from its prior forecast.…
Read MoreRussian attacks near Ukrainian nuclear infrastructure heighten scrutiny of Kyiv’s preparedness
Moscow’s renewed attacks on Ukraine’s electricity infrastructure this winter have heightened scrutiny over the Ukrainian Energy Ministry’s failure to protect the country’s most critical energy facilities near nuclear power sites. Despite more than a year of warnings that the sites were vulnerable to potential Russian attacks, the Energy Ministry failed to act swiftly, current and former Ukrainian…
Read MoreTemasek and CenterSquare launch US$100 million commercial real estate debt co-investment vehicle
The portfolio continues a strategy across the global real state investment manager’s debt fund series TEMASEK and CenterSquare Investment Management have launched a US$100 million commercial real estate debt co-investment vehicle that will invest in commercial real estate loans. Once fully funded, the vehicle will have US$200 million to deploy and will invest in high-quality…
Read MoreDear Abby: My son beat addiction and now behaves like a pompous jerk
DEAR ABBY: I received a Facebook message from my first cousin. In it, she apologized for not communicating for the past 10 months. It ended with, “Send me your address so I can send you a birth announcement.” Abby, I wasn’t even aware that she had been pregnant. I contacted her father, who said the…
Read MoreGIC makes senior leadership changes, appoints new CIO
Bryan Yeo succeeds Jeffrey Jaensubhakij, who is stepping down after almost three decades at the firm Source link
Read MoreGIC makes senior leadership changes, appoints new group CIO
Bryan Yeo succeeds Jeffrey Jaensubhakij, who is stepping down after almost three decades at the firm GIC’S deputy group chief investment officer (CIO) Bryan Yeo will ascend to the role of group CIO on Apr 1, following the retirement of Jeffrey Jaensubhakij. Jaensubhakij steps down after almost three decades at the firm to take on…
Read MoreUBS quarterly profit smashes expectations, US$3 billion buyback unveiled
UBS Group, Switzerland’s largest bank, on Tuesday (Feb 4) posted net income of US$770 million for the fourth quarter of 2024, trouncing forecasts. The net profit attributable to shareholders compared with an average estimate of US$483 million in a company-provided poll of analysts. The lender also announced a share buyback programme of up to US$3…
Read MoreKnicks’ Precious Achiuwa fills in valiantly for injured OG Anunoby
No, Precious Achiuwa is not OG Anunoby. Nobody expects him to replicate what Anunoby contributes to the team. But he filled in valiantly, replacing Anunoby in the starting lineup for the Knicks’ 124-118 win over the Rockets on Monday night at Madison Square Garden. It marked the Knicks’ first game this season without Anunoby, who…
Read MoreChiefs’ Harrison Butker stands by controversial commencement speech: ‘Nothing to apologize for’
NEW ORLEANS — Harrison Butker knows that you might not agree with his core beliefs, because some of his own teammates don’t. A season that will end with Butker kicking field goals in Super Bowl 2025 for the Chiefs began with him in the national spotlight for a very different reason. While delivering the commencement…
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