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ZURICH: UBS Group AG posted better-than-expected third-quarter profit and set aside US$1.5bil for share buybacks next year as chief executive officer Sergio Ermotti prepares to hand over to Ralph Hamers.
NEW YORK/LONDON: Global shares closed lower on Thursday as investors shied from risk and sought safe havens such as the U.S. dollar on fears that a resurgence in coronavirus cases and a lack of more U.S. fiscal stimulus would hobble the world economy.
BERLIN, Oct. 15 (Xinhua) -- Private banks in Germany expect the COVID-19 crisis to lower global economic output by around 4 percent this year, the Association of German Banks (BdB) said on Thursday.
Financial leaders of the world's seven biggest economies will say on Oct 13 that they oppose the launch of Facebook's Libra stablecoin until it is properly regulated, a draft G7 statement showed.
A rare regime-change in economic policy is under way that’s edging central bankers out of the pivotal role they have played for decades.
Japan must swiftly revise laws to allow the central bank to issue a digital currency, a move that could provide a chance to reform the Bank of Japan's existing mandates and enshrine its inflation target, a senior ruling party official said on Oct 12.
CALIFORNIA: The guardians of the global economy will gather this week under the cloud of the worst recession since the Great Depression, and a recovery dependent on scientists finding a coronavirus vaccine.
THE dollar continued to decline for the second consecutive week, down 0.25% w/w to 93.61, underpinned by persistent upbeat sentiment in global markets, supporting investors’ risk appetite as investors continue to bet on some form of fiscal aid emerging ahead of the US elections.