The UK Supreme Court has unanimously rejected Anna Standish’s appeal for a larger share of the £133 million estate she amassed with former UBS chief financial officer Clive Standish, confirming that most of the couple’s wealth is not subject to the divorce ‘sharing principle’.

Five justices agreed that the £80 million in investments Mr Standish moved into his wife’s name in 2017 was transferred solely to mitigate inheritance tax and for the benefit of their children, not to place it in common ownership. Because the funds were largely derived from wealth he earned before the couple married in 2005, the Court ruled they remained his non-matrimonial property.

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Standard Chartered Bank is facing a $2.7 billion lawsuit filed by liquidators in Singapore over its alleged role in enabling fraud related to Malaysia's sovereign wealth fund, 1MDB. The legal proceedings seek to recover funds misappropriated more than a decade ago, which resulted in financial losses exceeding $2.7 billion. The case highlights ongoing efforts to address the 1MDB scandal through litigation against financial institutions accused of facilitating money laundering and fraud. Separately, Singapore authorities have imposed $21.5 million in penalties on nine financial firms, including UBS, Citi, and Julius Baer, for lapses connected to the city-state’s largest money laundering case, underscoring Singapore’s stringent regulatory stance on financial crimes.

UBS Group has initiated a share repurchase program with plans to buy back up to $2 billion of its own shares. This move was announced on June 30, 2025, and has been confirmed by multiple financial news sources. Subsequently, on July 8, 2025, UBS reportedly provided 'goodwill payments' to clients who incurred trading losses related to former President Donald Trump's market activities. These payments were disclosed by the Financial Times and indicate UBS's efforts to address client losses stemming from Trump-associated trades.

UBS Group has initiated a share buyback program authorizing the repurchase of up to $2 billion worth of its own shares. This move reflects the bank's strategy to return capital to shareholders and potentially enhance shareholder value. The announcement was confirmed by multiple sources on June 30, 2025. In related financial news, Aegean Airlines is set to launch a public offering for a seven-year bond issuance of up to 250 million euros starting Monday. Additionally, Eurobank plans to issue a three-year bond valued at 500 million euros, and Alpha Bank's share capital has increased to approximately 671.38 million euros following the absorption of Alpha Services and Holdings.

UBS Group AG said it will begin a share-repurchase programme of up to $2 billion on 1 July, executing a plan endorsed by shareholders at the bank’s annual general meeting in April.

The Swiss lender intends to complete the buyback during the second half of 2025 and will detail its 2026 capital-return objectives when it reports full-year 2025 earnings early next year.

The Swiss women’s national football team were beaten 7–1 by FC Luzern’s under-15 boys in a closed-door friendly held as part of their final preparations for the UEFA Women’s Euro 2025, which starts on 2 July. The match, played without media or spectators, was scheduled to give the squad additional high-intensity minutes before they face Norway in Basel next week.

The Swiss Football Association had not planned to release the result, but images posted by one of the teenage players on social media leaked the score on 25 June, prompting widespread coverage in domestic and international outlets. The defeat came despite the presence of high-profile forward Alisha Lehmann and added to scrutiny of a side that has yet to win in six competitive fixtures this year.

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According to UBS's 2025 Global Wealth Report, the United States added more than 379,000 new millionaires in 2024, averaging over 1,000 new millionaires per day. This increase marks the largest growth of millionaire ranks in any country worldwide. The U.S. now has the highest number of millionaires globally, totaling approximately 23.8 to 24 million individuals, which accounts for about 40% of the world's estimated 60 million millionaires.

The surge in millionaire numbers was driven by a strong U.S. dollar and a 23.3% rally in the S&P 500, contributing to an 11% increase in private wealth in the Americas. Globally, private net worth rose by 4.6%, with wealth growth disproportionately concentrated in the U.S. Mainland China ranks second with around 6.8 million millionaires and added roughly 380 new millionaires daily. The report also highlights the growing significance of "everyday millionaires" or "EMILLIs," defined as individuals with assets between $1 million and $5 million. Despite this growth, over 80% of adults worldwide have a net worth under $100,000. The data underscores the concentration of wealth in the U.S., particularly in states like California, where owning a second mortgage-free home can classify someone as a millionaire.

The Swiss National Bank warned in its 2025 Financial Stability Report that economic and financial conditions have deteriorated since its previous assessment, heightening the vulnerability of the global system to adverse shocks. The central bank highlighted elevated public-sector debt, stretched valuations in residential real estate worldwide, tight spreads on global corporate bonds and high levels in the U.S. equity market as key risk factors.

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Swiss banks UBS and Pictet have reported data leaks following a cyberattack on their shared procurement provider, Chain IQ. The attack compromised information related to more than 130,000 UBS employees, including sensitive details such as the direct phone number of UBS's CEO. Despite the breach affecting employee data, both banks have confirmed that client information remains unaffected. Chain IQ disclosed that it and 19 other companies were targeted in the cyberattack.

The incident highlights ongoing cybersecurity challenges faced by financial institutions. Separately, U.S. companies including insurance giant Aflac and steelmaker Nucor have also reported recent cyberattacks resulting in data theft, indicating a broader trend of increasing cyber threats across industries.

Swiss banks UBS and Pictet have confirmed a data leak following a cyberattack on their shared procurement service provider, Chain IQ. The breach reportedly exposed information related to over 130,000 UBS employees, including the direct phone number of UBS CEO. Despite the extent of the employee data affected, both banks stated that client data remained unaffected by the incident. Chain IQ and 19 other companies were targeted in the attack, according to reports. The cyberattack has prompted warnings from regulatory authorities such as the European Central Bank. UBS and Pictet continue to assess the impact of the breach and have not reported any compromise of client information.

Swiss banks UBS and Pictet have reported a data leak following a cyberattack on their shared supplier, the Zug-based procurement service provider Chain IQ. The breach, which occurred last week, involved the theft of information related to more than 130,000 UBS employees, including sensitive details such as direct telephone numbers. Despite the exposure of employee data, both banks confirmed that client information remains unaffected. The cyberattack also targeted 19 other companies, according to Chain IQ.

Access to the compromised data has since been stopped. The incident has drawn warnings from regulatory bodies including the European Central Bank. UBS and Pictet continue to investigate the scope and impact of the attack as they work to enhance their cybersecurity measures.

The Swiss government has proposed new banking regulations requiring UBS to raise an additional $26 billion in capital. The measures, announced by the Swiss Federal Council and presented by Finance Minister Karin Keller-Sutter, are designed for systemically important banks and follow the 2023 takeover of Credit Suisse by UBS.

UBS shares initially rose after the announcement but then fell by 7% to 26 francs, marking their largest decline in two months. The stock has lost nearly 9% so far this year. Analysts have raised concerns that the increased capital requirements could limit UBS's competitiveness and its ability to return capital to shareholders through buybacks and dividends.

The proposal includes replacing AT1 bonds with hard equity capital, which would raise UBS's hard core capital ratio from 14.3% to a range of 15-17%. UBS is expected to have six to eight years to meet the new requirements, and the regulations are subject to consultation and legislative processes before becoming law.

The Swiss government has proposed new banking regulations that would require UBS to increase its capital by up to $26 billion, a move aimed at preventing another financial crisis similar to the collapse of Credit Suisse in 2023. The proposal includes a full deduction of the carrying value of foreign subsidiaries from the parent bank's Common Equity Tier 1 (CET1) capital, which could add up to $18 billion to UBS's capital requirements. These changes are expected to be implemented in 2027.

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NHL Commissioner Gary Bettman announced that the league will hold an All-Star style event at UBS Arena on Long Island in 2027. This event will replace the traditional 2026 NHL All-Star Game, which is being deferred to respect the players' focus on the 2026 Winter Olympics in Milan. While the exact format of the 2027 event is still to be determined, the NHL and NHL Players' Association are collaborating on a send-off event for players before they depart for the Olympics. The announcement was made ahead of Game 1 of the 2025 Stanley Cup Final by Bettman and NHL Deputy Commissioner Bill Daly.

Swiss private bank Julius Baer has announced plans to reduce costs by an additional $159 million by 2028 as part of a new savings program following recent challenges. The bank will close its office in Qatar and is preparing to launch operations in Abu Dhabi. This move aligns with a broader trend of financial firms expanding into the United Arab Emirates. Separately, former Credit Suisse trader Hamza Lemssouguer is also preparing to expand his hedge fund operations to Abu Dhabi, joining a growing number of investment firms relocating to the region.

Authorities in France have discovered a body believed to be Esteve Carbonell, a 47-year-old Catalan mountaineer who went missing near the peak of Rulhe in Ariège on 7 December 2024. The body was found by a group of Spanish hikers about 200 meters from the summit, partially uncovered due to melting snow. Official identification is pending an autopsy in Toulouse, but clothing and equipment found with the body match those of Carbonell. Carbonell's car was previously found at Pla de Peyres, with a stray dog inside. The search for the second missing mountaineer, Txell Fusté, aged 52, has resumed but was temporarily suspended due to adverse weather conditions.

Read more

A massive landslide caused by the collapse of a glacier in the Swiss Alps has destroyed the village of Blatten in the Lötschental valley. The disaster buried the area under approximately nine million cubic meters of rock and ice, erasing homes, infrastructure, and livelihoods. The mayor, Matthias Bellwald, stated that the history of Blatten has been 'wiped out.'

An extensive warning and evacuation system enabled the evacuation of most of Blatten's roughly 300 residents before the landslide, preventing further casualties. However, a 64-year-old local resident remains missing, and search efforts have been suspended due to ongoing rockfall risks. The area remains inaccessible, and the risk of additional landslides and flooding persists, though authorities report that the immediate danger of a catastrophic flood has diminished as the dammed Lonza river has begun to flow again.

Read more

Swiss lender UBS has agreed to sell its hedge fund unit O’Connor to U.S. brokerage firm Cantor Fitzgerald. The transaction involves UBS's asset management division and reflects UBS's strategy to divest non-core businesses. Cantor Fitzgerald will acquire the O’Connor business as part of this deal announced on May 28, 2025.

A recent UBS survey of 317 global family offices reveals that many of the world's wealthiest families plan to increase their investments in China despite concerns over a global trade war. The survey highlights that ultra-rich American family offices remain confident in the U.S. economy and stocks for 2025. Allocation to commodities, emerging market equities, and gold/precious metals currently stands at less than 1%, 1%, and 2% respectively, with expectations for these allocations to grow by the end of the decade.

Additionally, 70% of family offices identify the ongoing trade war as their primary concern. In corporate news from Chile, RedSalud has completed the acquisition of Clínica Sanatorio Alemán de Concepción, the largest private clinic in southern Chile. This acquisition was announced alongside updates on the BICE-Security merger, supported by Boston Consulting Group. Rosanna Costa, president of the Central Bank of Chile, stated that the banking sector is solid and well-prepared to face potentially adverse economic scenarios.

UBS Group AG is facing a setback in its efforts to reduce the impact of a Swiss government law that could require the bank to hold up to $25 billion in additional capital, according to Bloomberg reports. The proposed regulation would mandate UBS to increase its ability to cover losses at foreign subsidiaries to 100% of the capital.

Following the reports, UBS shares experienced a 3.3% drop, reflecting investor concerns over the impending defeat in the first round of its battle against the capital increase. UBS CEO Sergio Ermotti has criticized the stricter regulations, warning that they would disadvantage the bank and the Swiss financial center.

In response to the potential capital requirements, UBS has threatened to relocate its headquarters abroad if the Swiss government insists on the increase in regulatory capital reserves.

The UK Supreme Court has unanimously rejected Anna Standish’s appeal for a larger share of the £133 million estate she amassed with former UBS chief financial officer Clive Standish, confirming that most of the couple’s wealth is not subject to the divorce ‘sharing principle’.

Five justices agreed that the £80 million in investments Mr Standish moved into his wife’s name in 2017 was transferred solely to mitigate inheritance tax and for the benefit of their children, not to place it in common ownership. Because the funds were largely derived from wealth he earned before the couple married in 2005, the Court ruled they remained his non-matrimonial property.

Read more

Standard Chartered Bank is facing a $2.7 billion lawsuit filed by liquidators in Singapore over its alleged role in enabling fraud related to Malaysia's sovereign wealth fund, 1MDB. The legal proceedings seek to recover funds misappropriated more than a decade ago, which resulted in financial losses exceeding $2.7 billion. The case highlights ongoing efforts to address the 1MDB scandal through litigation against financial institutions accused of facilitating money laundering and fraud. Separately, Singapore authorities have imposed $21.5 million in penalties on nine financial firms, including UBS, Citi, and Julius Baer, for lapses connected to the city-state’s largest money laundering case, underscoring Singapore’s stringent regulatory stance on financial crimes.

UBS Group has initiated a share repurchase program with plans to buy back up to $2 billion of its own shares. This move was announced on June 30, 2025, and has been confirmed by multiple financial news sources. Subsequently, on July 8, 2025, UBS reportedly provided 'goodwill payments' to clients who incurred trading losses related to former President Donald Trump's market activities. These payments were disclosed by the Financial Times and indicate UBS's efforts to address client losses stemming from Trump-associated trades.

UBS Group has initiated a share buyback program authorizing the repurchase of up to $2 billion worth of its own shares. This move reflects the bank's strategy to return capital to shareholders and potentially enhance shareholder value. The announcement was confirmed by multiple sources on June 30, 2025. In related financial news, Aegean Airlines is set to launch a public offering for a seven-year bond issuance of up to 250 million euros starting Monday. Additionally, Eurobank plans to issue a three-year bond valued at 500 million euros, and Alpha Bank's share capital has increased to approximately 671.38 million euros following the absorption of Alpha Services and Holdings.

UBS Group AG said it will begin a share-repurchase programme of up to $2 billion on 1 July, executing a plan endorsed by shareholders at the bank’s annual general meeting in April.

The Swiss lender intends to complete the buyback during the second half of 2025 and will detail its 2026 capital-return objectives when it reports full-year 2025 earnings early next year.

The Swiss women’s national football team were beaten 7–1 by FC Luzern’s under-15 boys in a closed-door friendly held as part of their final preparations for the UEFA Women’s Euro 2025, which starts on 2 July. The match, played without media or spectators, was scheduled to give the squad additional high-intensity minutes before they face Norway in Basel next week.

The Swiss Football Association had not planned to release the result, but images posted by one of the teenage players on social media leaked the score on 25 June, prompting widespread coverage in domestic and international outlets. The defeat came despite the presence of high-profile forward Alisha Lehmann and added to scrutiny of a side that has yet to win in six competitive fixtures this year.

Read more

According to UBS's 2025 Global Wealth Report, the United States added more than 379,000 new millionaires in 2024, averaging over 1,000 new millionaires per day. This increase marks the largest growth of millionaire ranks in any country worldwide. The U.S. now has the highest number of millionaires globally, totaling approximately 23.8 to 24 million individuals, which accounts for about 40% of the world's estimated 60 million millionaires.

The surge in millionaire numbers was driven by a strong U.S. dollar and a 23.3% rally in the S&P 500, contributing to an 11% increase in private wealth in the Americas. Globally, private net worth rose by 4.6%, with wealth growth disproportionately concentrated in the U.S. Mainland China ranks second with around 6.8 million millionaires and added roughly 380 new millionaires daily. The report also highlights the growing significance of "everyday millionaires" or "EMILLIs," defined as individuals with assets between $1 million and $5 million. Despite this growth, over 80% of adults worldwide have a net worth under $100,000. The data underscores the concentration of wealth in the U.S., particularly in states like California, where owning a second mortgage-free home can classify someone as a millionaire.

The Swiss National Bank warned in its 2025 Financial Stability Report that economic and financial conditions have deteriorated since its previous assessment, heightening the vulnerability of the global system to adverse shocks. The central bank highlighted elevated public-sector debt, stretched valuations in residential real estate worldwide, tight spreads on global corporate bonds and high levels in the U.S. equity market as key risk factors.

Read more

Swiss banks UBS and Pictet have reported data leaks following a cyberattack on their shared procurement provider, Chain IQ. The attack compromised information related to more than 130,000 UBS employees, including sensitive details such as the direct phone number of UBS's CEO. Despite the breach affecting employee data, both banks have confirmed that client information remains unaffected. Chain IQ disclosed that it and 19 other companies were targeted in the cyberattack.

The incident highlights ongoing cybersecurity challenges faced by financial institutions. Separately, U.S. companies including insurance giant Aflac and steelmaker Nucor have also reported recent cyberattacks resulting in data theft, indicating a broader trend of increasing cyber threats across industries.

Swiss banks UBS and Pictet have confirmed a data leak following a cyberattack on their shared procurement service provider, Chain IQ. The breach reportedly exposed information related to over 130,000 UBS employees, including the direct phone number of UBS CEO. Despite the extent of the employee data affected, both banks stated that client data remained unaffected by the incident. Chain IQ and 19 other companies were targeted in the attack, according to reports. The cyberattack has prompted warnings from regulatory authorities such as the European Central Bank. UBS and Pictet continue to assess the impact of the breach and have not reported any compromise of client information.

Swiss banks UBS and Pictet have reported a data leak following a cyberattack on their shared supplier, the Zug-based procurement service provider Chain IQ. The breach, which occurred last week, involved the theft of information related to more than 130,000 UBS employees, including sensitive details such as direct telephone numbers. Despite the exposure of employee data, both banks confirmed that client information remains unaffected. The cyberattack also targeted 19 other companies, according to Chain IQ.

Access to the compromised data has since been stopped. The incident has drawn warnings from regulatory bodies including the European Central Bank. UBS and Pictet continue to investigate the scope and impact of the attack as they work to enhance their cybersecurity measures.

The Swiss government has proposed new banking regulations requiring UBS to raise an additional $26 billion in capital. The measures, announced by the Swiss Federal Council and presented by Finance Minister Karin Keller-Sutter, are designed for systemically important banks and follow the 2023 takeover of Credit Suisse by UBS.

UBS shares initially rose after the announcement but then fell by 7% to 26 francs, marking their largest decline in two months. The stock has lost nearly 9% so far this year. Analysts have raised concerns that the increased capital requirements could limit UBS's competitiveness and its ability to return capital to shareholders through buybacks and dividends.

The proposal includes replacing AT1 bonds with hard equity capital, which would raise UBS's hard core capital ratio from 14.3% to a range of 15-17%. UBS is expected to have six to eight years to meet the new requirements, and the regulations are subject to consultation and legislative processes before becoming law.

The Swiss government has proposed new banking regulations that would require UBS to increase its capital by up to $26 billion, a move aimed at preventing another financial crisis similar to the collapse of Credit Suisse in 2023. The proposal includes a full deduction of the carrying value of foreign subsidiaries from the parent bank's Common Equity Tier 1 (CET1) capital, which could add up to $18 billion to UBS's capital requirements. These changes are expected to be implemented in 2027.

Read more

NHL Commissioner Gary Bettman announced that the league will hold an All-Star style event at UBS Arena on Long Island in 2027. This event will replace the traditional 2026 NHL All-Star Game, which is being deferred to respect the players' focus on the 2026 Winter Olympics in Milan. While the exact format of the 2027 event is still to be determined, the NHL and NHL Players' Association are collaborating on a send-off event for players before they depart for the Olympics. The announcement was made ahead of Game 1 of the 2025 Stanley Cup Final by Bettman and NHL Deputy Commissioner Bill Daly.

Swiss private bank Julius Baer has announced plans to reduce costs by an additional $159 million by 2028 as part of a new savings program following recent challenges. The bank will close its office in Qatar and is preparing to launch operations in Abu Dhabi. This move aligns with a broader trend of financial firms expanding into the United Arab Emirates. Separately, former Credit Suisse trader Hamza Lemssouguer is also preparing to expand his hedge fund operations to Abu Dhabi, joining a growing number of investment firms relocating to the region.

Authorities in France have discovered a body believed to be Esteve Carbonell, a 47-year-old Catalan mountaineer who went missing near the peak of Rulhe in Ariège on 7 December 2024. The body was found by a group of Spanish hikers about 200 meters from the summit, partially uncovered due to melting snow. Official identification is pending an autopsy in Toulouse, but clothing and equipment found with the body match those of Carbonell. Carbonell's car was previously found at Pla de Peyres, with a stray dog inside. The search for the second missing mountaineer, Txell Fusté, aged 52, has resumed but was temporarily suspended due to adverse weather conditions.

Read more

A massive landslide caused by the collapse of a glacier in the Swiss Alps has destroyed the village of Blatten in the Lötschental valley. The disaster buried the area under approximately nine million cubic meters of rock and ice, erasing homes, infrastructure, and livelihoods. The mayor, Matthias Bellwald, stated that the history of Blatten has been 'wiped out.'

An extensive warning and evacuation system enabled the evacuation of most of Blatten's roughly 300 residents before the landslide, preventing further casualties. However, a 64-year-old local resident remains missing, and search efforts have been suspended due to ongoing rockfall risks. The area remains inaccessible, and the risk of additional landslides and flooding persists, though authorities report that the immediate danger of a catastrophic flood has diminished as the dammed Lonza river has begun to flow again.

Read more

Swiss lender UBS has agreed to sell its hedge fund unit O’Connor to U.S. brokerage firm Cantor Fitzgerald. The transaction involves UBS's asset management division and reflects UBS's strategy to divest non-core businesses. Cantor Fitzgerald will acquire the O’Connor business as part of this deal announced on May 28, 2025.

A recent UBS survey of 317 global family offices reveals that many of the world's wealthiest families plan to increase their investments in China despite concerns over a global trade war. The survey highlights that ultra-rich American family offices remain confident in the U.S. economy and stocks for 2025. Allocation to commodities, emerging market equities, and gold/precious metals currently stands at less than 1%, 1%, and 2% respectively, with expectations for these allocations to grow by the end of the decade.

Additionally, 70% of family offices identify the ongoing trade war as their primary concern. In corporate news from Chile, RedSalud has completed the acquisition of Clínica Sanatorio Alemán de Concepción, the largest private clinic in southern Chile. This acquisition was announced alongside updates on the BICE-Security merger, supported by Boston Consulting Group. Rosanna Costa, president of the Central Bank of Chile, stated that the banking sector is solid and well-prepared to face potentially adverse economic scenarios.

UBS Group AG is facing a setback in its efforts to reduce the impact of a Swiss government law that could require the bank to hold up to $25 billion in additional capital, according to Bloomberg reports. The proposed regulation would mandate UBS to increase its ability to cover losses at foreign subsidiaries to 100% of the capital.

Following the reports, UBS shares experienced a 3.3% drop, reflecting investor concerns over the impending defeat in the first round of its battle against the capital increase. UBS CEO Sergio Ermotti has criticized the stricter regulations, warning that they would disadvantage the bank and the Swiss financial center.

In response to the potential capital requirements, UBS has threatened to relocate its headquarters abroad if the Swiss government insists on the increase in regulatory capital reserves.