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UBS chair warns next crisis will be in private markets
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The next financial crisis is likely to be in the “shadow” non-bank lending sector, UBS chair Colm Kelleher has said, warning that the growth of lightly regulated private markets since the 2008 crisis is a “real cause…
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South Korea finance chief defends short-sell ban ahead of elections
SEOUL, Nov 7 (Reuters) – South Korea’s finance minister defended the government’s ban on short-selling of stocks, an announcement that comes ahead of general elections next year and has drawn criticism from market players who say the move could hurt the country’s global credibility.”Yes, it is rightfully done,” Choo Kyung-ho said on Tuesday, responding to…
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UBS posts $785mn quarterly loss due to Credit Suisse integration costs
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.UBS has posted its first quarterly loss in almost six years as the Swiss lender laid bare the costs of integrating Credit Suisse following the state-orchestrated rescue of its rival.The deal is expected to be a boon…
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Political finance with integrity: Beyond legal reform
The International Institute for Democracy and Electoral Assistance (IDEA) would like to invite those interested, on the occasion of International IDEA’s Secretary General, Kevin Casas-Zamora’s visit, to a discussion on Political Finance with Integrity: Beyond Legal Reform.Mongolia recently updated its political finance legislation to improve the disclosure of political party funding. The event will present…
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Audit Finds No Issues, Concerns with Finances at Center for Antiracist Research
University News Korn Ferry is hired to review management processes and recommended best practices Six weeks after a shakeup at Boston University’s Center for Antiracist Research (CAR), BU officials say a number of steps are either completed, or well underway, that will help the center successfully pivot toward its new direction. One key step that’s…
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Chelsea A. Vuong ’21: Pageants, Finance, and the Road to Miss America | Arts
Chelsea A. Vuong ’21 was crowned the 83rd Miss Massachusetts on June 24, thus qualifying her to compete for the title of Miss America next January. This achievement marks the most recent in a long history in pageantry, with Vuong competing in her first pageant at 12 years old and joining the Miss America organization…
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UBS chairman says regulators are ‘misguided’ on more scrutiny of capital
CompaniesUBS Group AGFollowDeutsche Bank AGFollowGoldman Sachs Group IncFollowShow more companiesHONG KONG, Nov 7 (Reuters) – Top global banking chiefs on Tuesday said they are concerned the financial sector’s next crisis may come from rising geopolitical uncertainty which could test financial market resiliency, while the industry remains vulnerable to regulatory tightening.The trigger for the next global…
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Pakistan third top recipient of Chinese finance: study
KARACHI: Pakistan is the third biggest recipient of Chinese development finance worldwide with a portfolio of $70.3 billion, according to a report released on Monday by AidData, a US-based international development research lab.Only two per cent of China’s portfolio in Pakistan between 2000 and 2021 consisted of grants while the rest was in the form…
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Dish Chairman Charlie Ergen Admits Company Must Walk “A Narrow Path” Toward Financial Stability; DirecTV Merger Pursuit Is Paused As Stock Crashes To 25-Year Low
With its shares in free fall after a dismal third-quarter earnings report, Dish Network executives faced the music with Wall Street, conceding in an earnings call that they face an array of intensifying challenges. “We have a narrow path, but there is a path, to achieve financial stability and make sure we meet our commitments,”…
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Gartner Says Finance Orgs Lag Other Functions in AI Implementations
Gartner research shows that four out of five finance leaders anticipate the cost and effort they allocate to deploying AI within finance will increase over the next two years, with 52% of finance leaders expecting cost and effort to increase by more than 10%. However, finance is currently well behind most other business functions when…