HomeFinancial MarketsUBS Looks to Delay Quarterly Results Following Credit Suisse Takeover

UBS Looks to Delay Quarterly Results Following Credit Suisse Takeover

UBS is considering delaying the release of its quarterly results until the end of August, citing the complexities of integrating the newly-acquired Credit Suisse into its organization. The Swiss banking giant is currently set to report its April-June results on July 25.

A notice on the bank’s website stipulated that a change in the release date of the bank’s quarterly results is expected. Publication date may change depending on the timing of the closing of the anticipated acquisition of Credit Suisse,” the notice reads.

The Financial Times reported that UBS executives have decided that a delay in the reporting of Q2 results may be necessary as the bank continues to develop its plan concerning Credit Suisse’s domestic business.

Chief Executive Sergio Ermotti spoke last week of the challenge that the bank faces in determining whether job cuts will be necessary as the takeover deal continues to be formalized.

Consumer Price Index Comes in Hotter in March

The US Bureau of Labor Statistics released the Consumer Price Index report for March, with inflation appearing to be back on the rise. The...

Futures Stall as Markets Await Fresh Inflation Data

Futures on the New York Stock Exchange remained stagnant during early trading on Monday as investors cautiously await inflation data to be released later...

Positive Jobs Report Lifts U.S. Stocks

Stocks listed on the New York Stock Exchange continued their recovery on Friday following the March jobs report from the US Bureau of Labor...