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UBS posts 74% jump in third-quarter profit, beating expectations

UBS posts 74% jump in third-quarter profit, beating expectations

The UBS Group AG headquarters in Zurich, Switzerland, on Wednesday, July 30, 2025. Bloomberg | Bloomberg | Getty Images Swiss banking giant UBS on Wednesday reported stronger-than-expected third-quarter net profit, driven by solid investment banking performance and the release of legal provisions. Net profit attributable to shareholders came in at $2.5 billion for the three-month…

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Wells Fargo tells investors to get very long utility stocks on AI power demand

Wells Fargo tells investors to get very long utility stocks on AI power demand

Investors ought to increase their exposure to utility stocks as companies build out energy-guzzling data centers to power an artificial intelligence boom, Wells Fargo advised clients. The bank initiated coverage of 33 companies across the utilities and power space, assigning a raft of stocks overweight ratings. “Power demand and tailwinds are structural, not cyclical, driving…

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China buys three U.S. soybean cargoes ahead of Trump-Xi meeting, Reuters reports

China buys three U.S. soybean cargoes ahead of Trump-Xi meeting, Reuters reports

China’s state-owned COFCO bought three U.S. soybean cargoes this week, two trade sources said. Bloomberg | Bloomberg | Getty Images China’s state-owned COFCO bought three U.S. soybean cargoes this week, two trade sources said, the country’s first purchases from this year’s U.S. harvest ahead of this week’s summit of leaders Donald Trump and Xi Jinping. COFCO purchased about 180,000 metric tons of soybeans for December and January shipment through…

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