A surprise appointment at the head of ubs. The ceo of ing to take over from Sergio Ermotti. He is known for the Digital Transformation at ing and a eran of the dutch banking banking a comparison to whats been happening here, hamers is a relative outsider to the rarefied world of swiss management. He has climbed the ranks. He was the head of the dutch and belgium banking units. He has been ceo since 2013. What he is known for is leading the Digital Banking push in an effort to win customers and he is also known for cost cutting, and thats what he has been doing, bringing ing back to profitability by reducing costs. Sergio ermotti recently cut the banks financial targets for the second time in as many years. We were reporting that the search for a successor was starting on friday. That news came through. The International Wealth management cohead was widely seen as an eventual contender for the top rule. His run in with his former boss, Tidjane Thiam, apparently dimmed his standings with
The road to hold. Fatah minutes is suggested the central bank will keep rates suggestd fed minutes the central bank will keep rates unchanged. Ubs names its new boss. The worlds biggest wealth manager pouches ings ralph hamers to succeed Sergio Ermotti as ceo. Just under an hour away from the start of cash equity trading in europe. I want to take a quick look first off that ap mollermaersk coming out with earnings this morning. We are looking at a shipping company that posted earnings a little bit ahead of schedule. Let me just pull up the ticker here. Inmollermaersk in denmark, copenhagen of course, right now putting at earnings out earnings. Tda at about 5. 5 million. 5. 5 billion. Ap mollermaersk missing with da. Forecast for 2020 ebit we see the previous years earnings. Previous year and a on the forecast as well. We are getting a lot more here across the wire. Anglo american coming out with earnings. That may go ahead and pull those up as well. Angloamerican fullyear adjusted eps,
Surveillance, im Francine Lacqua in london. She targeted bloomberg, but she said about this appointment . Have they been for it or have a lot of the focus who know the had punches for pete and for amy. They had questions . Axel first, you can see the markets will be no the banks. Surveillance. But the question is, bloomberg was surging and biden was a joining as now, Ebrahim Rahbari. Reaction of the stock has been on the markets will be in positive. Distressed candidate. I ways think it is very does this shift the narrative, important when there are some polling . The banks. Conventional wisdom tells you changes, the market has the debates do not tend to move stocks down some 0. 2 . First reaction which was in voters opinions, but this one general positive. Clients have questions around was very fractious, very we did have corporate warnings. The process but i have not passionate. Tom what is so important here, what does wiki yen indicate to received feedback that was we are looking at
S p indicated down about 4. 5 looks like the 10year is yielding below 1. 6 . 1. 549 well talk about what china did. Loan rates there dropping as the company tries to take on the impact of the coronavirus. Lets get an update now on the coronavirus. The people on the ship, a couple of people did die from the coronavirus. China as we heard cutting its benchmark lending rate that was expected. Authorities looking to boost the market unfortunately, two passengers from the diamond princess cruise have died. The first reported deaths in connection with the ship which was quarantined off the coast of japan nearly two weeks china is again, changing the criteria of confirmed cases adding confusion to tracking going up or down and whether weve seen a peak or close to a peak l brands reportedly selling shares of victorias sek receipt valuing that brand just over 1 billion. This had been expected that theyd pay for it. L brands chairman and ceo will step down as part of the deal but remain on the b
Tenyear. But get you up to speed on top stories. Is taylor riggs. Federal reserve policymakers signaling there will likely be an increase next month. Their most recent meeting shows that officials are looking for stronger science of their rights. Want people want to see inflation on an upward path before another rate hike. Tomorrow, zimbabwe gets the first their first new president for a few decades. The the new could country as a democracy. He had fled after being president bite fired fired by president robert who got a, who will not face prosecution. In the u. K. , conservative party makers are delighted with a by hammond, who targeted Younger Voters with tax biggestand promised the Homebuilding Program in almost five decades. Conservatives lost over brexit. In germany, chancellor Angela Merkel make it a partial lifeline from democrats. Social democrat leader Martin Schultz is prepared to offer a limited support for a fourth term. According to people familiar with this plan, schultz