UBS shares rose as much as 3% on Wednesday morning in Europe, topping as the best-performing stock in the STOXX 600 Financial Services Index, after second-quarter profit at the Swiss lender beat expectations. The Zurich-based bank said net income was $1.1 billion, about double analyst estimates. Growth in deal-making revenue at the investment bank beat many Wall Street peers, while a lower than expected loss at the unit dedicated to winding down Credit Suisse legacy assets helped offset a miss in the wealth management division. CEO Sergio Ermotti said the bank has entered technical discussions with the government and regulators over plans to overhaul Switzerland’s rules around bank capital and liquidity. The revamp is one of the political consequences of the Credit Suisse collapse last year.
Today’s guests: Charlotte Ryland, CCLA Investment Mgmt; Sanam Vakil, Chatham House
Chapters:
00:00:00 – The Pulse with Francine Lacqua
00:02:04 – Ermotti: On Track for 2026 Targets
00:07:41 – Charlotte Ryland, CCLA Investment Mgmt
00:13:54 – Sanam Vakil, Chatham House
00:21:12 – Headlines
00:21:56 – UBS CEO Sergio Ermotti on Markets Volatility
00:26:12 – Blomberg Team Breaks Down UBS 2Q Earnings Report
00:35:59 – Japan Set for a New Leader as Premier Kishida to Step Aside
00:40:11 – Thai Court Ousts PM After Finding Him Guilty in Ethics Case
00:41:02 – DOJ Mulls Google Breakup Push After Landmark Antitrust Win
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