UBS took over Credit Suisse in a government-backed rescue last year in what was the biggest merger of banks of systemic importance since the 2007-2009 financial crisis. Korner, who was appointed CEO of Credit Suisse during turbulent times in 2022, joined the board of UBS after the takeover. UBS is working to complete the merger of its legal entities with those of Credit Suisse by late May, the Financial Times said, citing people familiar with the plans.
U.S. and Philippine armed forces fired missiles and artillery to thwart a simulated invasion in the Philippines' northern waters facing Taiwan on Monday, in a show of military force and strengthening ties as regional tensions rise. The exercises have irked China, which has warned of destabilisation when countries outside the region "flex muscles and stoke confrontation".
WASHINGTON (AP) — President Joe Biden’s campaign and Democratic candidates are in a fevered race with Republicans over who can best exploit the potential of artificial intelligence, a technology that could transform American elections — and perhaps threaten democracy itself. Still smarting from being outmaneuvered on social media by Donald Trump and his allies in 2016, Democratic strategists said they are nevertheless treading carefully in embracing tools that trouble experts in disinformation.