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Westpac chief Peter King, ANZ chief Shayne Elliott and NAB chief Andrew Irvine will hand down their full-year results this week.

Banks tipped to rake in $30b as most borrowers weather interest rate storm

Customers who continued paying off home loans despite cost-of-living pressures are expected to support the profits of the majors, to be revealed this week.

  • Sumeyya Ilanbey

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Former US President Donald Trump and his running mate, J.D. Vance, appear on the first day of the Republican National Convention.

Trump’s shadow looms larger over China

The increased likelihood that Donald Trump will regain the US presidency is a threat to Xi Jinping’s factory-led strategy for restructuring China’s economy.

  • Stephen Bartholomeusz
A worker taps into the copper stream at BHP’s Olympic Dam.

Russia sanctions put a rocket under BHP’s copper outlook

Copper is shaping up as a star for the mining giant, as it edges closer to making a final call on its nickel business in West Australia.

  • Simon Johanson
Household spending data for May showed a dip in discretionary spending of 0.6 per cent compared with last year.

Clothes, home goods slip down the list as shoppers spend on essentials

The Australian economy continues to grapple with sustained inflation across a range of categories, with food prices tracking at 8 per cent in the March quarter.

  • Emma Koehn
Credit Suisse’s horror year has continued.

UBS preparing to cut over half of Credit Suisse workforce after takeover

Tens of thousands of jobs are at risk across the world, including in Australia, with the cuts set to start next month,

  • Marion Halftermeyer, Laura Benitez and Myriam Balezou
Shoppers have returned to bricks and mortar spending, meaning the enthusiasm for online-only retail has now worn off.

Shoppers spend in store but eat and drink at home as retail resets

On the whole, Australians are still bullish on spending. But retailers are being warned the game has changed.

  • Emma Koehn
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Sergio Ermotti is back in charge of UBS.

The banker Switzerland trusts to stop the bleeding

Sergio Ermotti fixed Switzerland’s biggest bank after it fell victim to the last financial crash. Now he is being asked to do it all over again.

  • John O'Donnell, John Revill and Stefania Spezzati
The collapse of Credit Suisse has raised some hairy questions.

Switzerland takes aim at Credit Suisse bonus payouts

Swiss authorities imposed curbs on bonus payments for Credit Suisse employees, a move that will penalise bankers after a multi-billion-franc state rescue of the bank.

  • Tom Sims, Noele Illien and Stefania Spezzati
The US Federal Reserve had set the cash rate at almost zero at the start of 2022.

Turbulence prompts Wall Street banks to trim hawkish Fed bets

Bets on a US Federal Reserve 50 basis point rate rise at the start of the month have been dramatically altered by the collapse of two mid-sized US banks and troubles at Credit Suisse.

  • Susan Mathew
Credit Suisse sent messages to customers on Monday saying the UBS “merger” would happen at the end of the year.

Credit Suisse fallout: CoCo bondholders go loco

A key element of Credit Suisse’s ‘rescue’ was a Swiss regulator’s decision to declare $26 billion of the bank’s bonds worthless. Other central banks are scrambling to distance themselves.

  • Stephen Bartholomeusz

Original URL: https://www.watoday.com.au/topic/ubs-group-ag-1mva