UBS to liquidate funds with substantial First Brands exposure
Swiss bank grapples with $500mn of exposure to First Brands across its investment arms
UK
Qatar to invest $30bn to build Egyptian beach resort
One of Egypt’s largest foreign investments comes as Cairo sells land to Gulf sovereign real estate developers
Crypto exchange Coinbase fined €21.5mn by Ireland’s central bank
Group failed to properly monitor trades potentially linked to child sex exploitation, drug trafficking and money laundering
JPMorgan hit with record fine from German finance watchdog
BaFin imposes its highest ever penalty of €45mn on European arm of Wall Street bank
Singapore bank sets aside record $470mn provision for Hong Kong property loans
United Overseas Bank’s move follows HSBC warning of ‘challenging’ conditions for city’s real estate
Diversity Leaders
800 companies make the seventh annual list; European companies walk a tightrope; GSK’s retreat on diversity targets; long-term focus delivering results for Zalando; investors stand firm against attack; US inclusion specialists face uncertain future; DEI not dead, just reincarnating
Santander to appoint insider as next UK boss
Shortlisting of two bank executives signals change of tack after series of external hires
Switzerland is crossing the crypto Rubicon
Can the country replicate its culture of trust in an era that thrives on code and decentralisation?
RedBird taps Apollo to fund £500mn Telegraph takeover
US buyer secures funding ahead of government decision on referring deal to regulators
Leverage creeps into gilts market as insurers seek to boost returns
Use of derivatives to enhance bets on UK government bonds raises parallels with strategies that fuelled 2022 meltdown
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