ZURICH, May 9 Reuters UBS Group said on Tuesday that Credit Suisse CEO Ulrich Koerner will stay on after the takeover of its Swiss rival as part of a new leadership team of the combined group. Announcing its leadership reshuffle, UBS also promoted Todd Tuckner, now finance chief of its core wealth management business, to group […]

May 8 Reuters California39;s financial regulator failed to press leadership at Silicon Valley Bank to address known problems quickly enough before the lender imploded in March, according to a report released Monday in which the agency pledged to do better in the future. The postmortem by California39;s Department of Financial Protection and Innovation DFPI follows […]

May 9 Reuters Novavax said on Tuesday it will reduce its global workforce by 25 as the cashstrapped biotech pushes forward with its plans to slash expenses and navigate tepid demand for its COVID19 vaccines. The company, which had earlier flagged significant uncertainty around generating revenue for the year, said it expects total annual revenue between […]

DUBAI, May 9 Reuters Saudi oil giant Aramco39;s first quarter net profit dropped 19 from a year earlier to 119.54 billion riyals 31.88 billion, it said on Tuesday, due to lower crude prices. Profit still beat analysts39; median forecast of 30.8 billion, according to Refinitiv data, and Aramco said the decline was partially offset by lower […]