The Swiss government is set to present softened bank capital rules later today, according to the news portal Tippinpoint, in a move that would reduce the expected impact for UBS Group AG . The so-called ordinance will allow UBS to continue counting deferred tax assets toward its regulatory capital, the report said citing unidentified sources. UBS will also be allowed to remove software from that m...
The Swiss government is set to present softened bank capital rules later today, according to the news portal Tippinpoint, in a move that would reduce the expected impact for UBS Group AG . The so-called ordinance will allow UBS to continue counting deferred tax assets toward its regulatory capital, the report said citing unidentified sources. UBS will also be allowed to remove software from that metric over a period of three years, it said. A spokesperson for the finance ministry, which leads preparations for the announcement, declined to comment to Bloomberg News. A UBS spokesperson declined as well. The two changes would substantially lower the impact on UBS’s capital buffer compared with the initial proposals. Those would have fully deducted software and DTAs from so-called CET1 capital right away. UBS has estimated that its CET1 capital would drop by roughly $11 billion in that scenario. UBS shares erased previous losses on the news and were up 0.9% at 10:26 a.m. The Swiss government, or Federal Council, is also set to present a draft law to determine how much in additional capital UBS needs to hold at home against activities abroad. Bern has publicly said it wants to see the lender back those up with 100% CET1 capital. The government will stick to that plan, Tippinpoint reported. Read More: UBS Set for Long-Awaited Clarity on Switzerland’s Capital Rules People familiar with the government’s thinking said earlier this year that the Federal Council will likely end up presenting a softened version of the ordinance, which would provide some relief to UBS. But they also said the government intends to keep the draft law on foreign subsidiaries as previously outlined, meaning it will probably submit a bill to parliament proposing full capital backing. The full capital backing of foreign units would lead to a fresh need of about $20 billion at UBS’s domestic entity UBS AG, according to the bank’s latest projections. The bill needs parliamentary approval, a process that...
US Federal Reserve chair nominee Kevin Warsh’s policy vision – outlined during his Senate confirmation hearing – signals an extension of “America First” into monetary policy, Chinese analysts said. “Warsh’s policy proposals … mark a shift from acting as a ‘global central bank’ supplying unlimited liquidity worldwide to a new approach focused on tightly controlling the overall monetary spigot, prio...
US Federal Reserve chair nominee Kevin Warsh’s policy vision – outlined during his Senate confirmation hearing – signals an extension of “America First” into monetary policy, Chinese analysts said. “Warsh’s policy proposals … mark a shift from acting as a ‘global central bank’ supplying unlimited liquidity worldwide to a new approach focused on tightly controlling the overall monetary spigot, prioritising domestic productivity and emphasising monetary sovereignty,” analysts at China...
In the spring of 2026, amid a fragile ceasefire in the Strait of Hormuz, President Donald Trump continues to insist that the United States is untouched by disruptions in the Persian Gulf. “We don’t use it”, he has claimed, echoing years of “energy dominance” rhetoric. The numbers tell a different story. The United States remains a net importer of crude oil. Its refineries are engineered for the me...
In the spring of 2026, amid a fragile ceasefire in the Strait of Hormuz, President Donald Trump continues to insist that the United States is untouched by disruptions in the Persian Gulf. “We don’t use it”, he has claimed, echoing years of “energy dominance” rhetoric. The numbers tell a different story. The United States remains a net importer of crude oil. Its refineries are engineered for the medium sour barrels that flow through the Hormuz Strait. And the global price shock triggered by the...
Artificial intelligence (AI) skeptics believe that spending on data center infrastructure is about to peak. More than $700 billion is expected to be spent on AI infrastructure this year, which is more than the gross domestic product of all but two dozen countries. That's a massive amount of money, but the companies leading the charge on this spending have shown no signs of letting up. Most have pu...
Artificial intelligence (AI) skeptics believe that spending on data center infrastructure is about to peak. More than $700 billion is expected to be spent on AI infrastructure this year, which is more than the gross domestic product of all but two dozen countries. That's a massive amount of money, but the companies leading the charge on this spending have shown no signs of letting up. Most have publicly said they see AI as a once-in-a-generation opportunity and would rather risk overspending than underspending. And while investors like Michael Burry have questioned their returns, top tech companies have all said the AI chips they are buying have longer useful lives than assumed and that they are getting strong returns on their investments. Image source: Getty Images. Continue reading
Valmont Industries is capitalizing on the AI boom through its infrastructure segment while its profitable agriculture division awaits the next farm supercycle.
Valmont Industries is capitalizing on the AI boom through its infrastructure segment while its profitable agriculture division awaits the next farm supercycle.
Ming Yang Smart Energy Group Ltd. is considering building a wind turbine factory in Spain after the UK blocked the Chinese company’s plans for a facility in Scotland, citing risks to national security. The wind turbine maker has been hiring in Europe in recent months to build up a local presence and secure orders in a market that’s set to grow rapidly in the coming decades. Manufacturing in the re...
Ming Yang Smart Energy Group Ltd. is considering building a wind turbine factory in Spain after the UK blocked the Chinese company’s plans for a facility in Scotland, citing risks to national security. The wind turbine maker has been hiring in Europe in recent months to build up a local presence and secure orders in a market that’s set to grow rapidly in the coming decades. Manufacturing in the region will be key to its ability to secure business there, according to Horatio Evers , chief executive officer of Ming Yang Europe. “We are talking to many project developers in the market. The request for additional competition in the market is there,” Evers said in an interview. “Localization is a key enabler for us to sell turbines in the European market.” The offshore wind market in Europe is primarily served by Denmark’s Vestas Wind Systems A/S and Germany’s Siemens Energy AG . Ming Yang’s entrance would boost competition and potentially bring down the cost of electricity. But it also threatens to shake up the one green power industry served by European firms while China has dominated technologies like batteries and solar panels. A Ming Yang factory in Spain would potentially produce blades for offshore wind turbines as well as equipment known as nacelles, which contain the main mechanical components of the turbine, Evers said. The company is scouting sites for a facility, but hasn’t finalized a location. Spain’s Prime Minister Pedro Sanchez met with Ming Yang Chairman Zhang Chuanwei on a recent trip to Beijing, signaling that the country would be receptive to the firm’s investment. But the nation isn’t a major market for offshore wind farms, with plenty of land to build cheaper onshore projects. That means the Chinese firm will need to secure orders elsewhere in Europe, which could prove difficult. Germany would be of interest for the company, but it isn’t being pursued currently, Evers added. With the UK, Europe’s biggest market for offshore wind, effectively shut of...