UBS CEO on private credit: 'The vast majority is of good quality'
Sergio Ermotti, CEO of UBS, discusses high market valuations and the resilience of private credit with CNBC’s Carolin Roth. <
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Norway $2 trillion sovereign wealth fund Q3 earnings
Norges Bank Kristian Helgesen/Bloomberg | Bloomberg | Getty Images Norway’s $2 trillion sovereign wealth fund — the largest of its kind in the world — on Wednesday reported a 5.8% return during the third quarter, powered by strong stock market gains and AI optimism. Norges Bank Investment Management (NBIM) manages the fund on behalf of the Norwegian…
From NEOM to AI and tourism, Saudi Arabia’s priorities are shifting
Digital render of NEOM’s The Line project in Saudi Arabia The Line, NEOM When Saudi Arabia first announced plans to reinvent its oil-based economy, huge infrastructure projects like the futuristic region NEOM and smart city The Line were championed as central to the transformation. Almost a decade on from the launch of its “Vision 2030”…
Trump announces trade breakthrough with South Korea on Asia trip
Donald Trump and South Korean President Lee Jae Myung finalized details of their fraught trade deal at a summit in South Korea on Wednesday, and the U.S. president also sounded an optimistic note about a looming summit with China’s Xi Jinping. “We made our deal, pretty much finalized it,” Trump said at a dinner with…
Mortgage rates drop to the lowest level in over a year, pushing refinancing 111% higher annually
A ‘For Sale’ sign is posted beside property for sale in Alhambra, California. Frederic J. Brown | AFP | Getty Images Mortgage interest rates dropped for the fourth straight week last week, spurring both current homeowners and potential homebuyers to call their lenders. Total mortgage application volume increased 7.1% compared with the previous week, according…
Stoxx 600, FTSE, CAC, DAX, Fed rate cut
Traders work, as a screen broadcasts a news conference by U.S. Federal Reserve Chair Jerome Powell following the Fed rate announcement, on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., Sept. 17, 2025. Brendan McDermid | Reuters LONDON — European stocks edged higher on Wednesday, with some stocks particularly…
Hurricane Melissa landfall in Cuba as a Category 3 storm
Residents ride motorcycles through flooded areas before Hurricane Melissa hits the city of Santiago de Cuba, Cuba on Oct. 28, 2025. Yamil Lage | AFP | Getty Images Hurricane Melissa made landfall in eastern Cuba near the city of Chivirico early Wednesday as a Category 3 storm after pummeling Jamaica as one of the strongest…
Nvidia CEO Jensen Huang South Korea trip: What to expect
Nvidia CEO Jensen Huang delivers remarks next to U.S. President Donald Trump at an ‘Investing in America’ event in Washington, D.C., on April 30, 2025. Leah Millis | Reuters Nvidia CEO Jensen Huang is headed to South Korea, one of the company’s most important markets, ahead of meeting there between U.S. President Donald Trump and…
Rallies and tech ‘revolution’ — all powered by AI
OpenAI CEO Sam Altman (L) shakes hands with Microsoft Chief Technology Officer and Executive VP of Artificial Intelligence Kevin Scott during the Microsoft Build conference at the Seattle Convention Center Summit Building in Seattle, Washington, U.S., on May 21, 2024. Jason Redmond | Afp | Getty Images Investors can’t get enough of artificial intelligence, despite…
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…