Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 
India–U.S. Interim Trade Pact Cuts Auto Tariffs but Leaves Tesla Out 
Oil Prices Slide on US-Iran Talks, Dollar Strength and Profit-Taking Pressure 
Ford and Geely Explore Strategic Manufacturing Partnership in Europe 
Russian Stocks End Mixed as MOEX Index Closes Flat Amid Commodity Strength 
Washington Post Publisher Will Lewis Steps Down After Layoffs 
Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility 
UBS posted a fourth-quarter net profit of $1.708 billion, representing a 137 percent increase, as high levels of client activity helped the world’s largest wealth manager end 2020 on a strong note.
Consequently, it far outstripped median expectations for $966 million in a poll of 20 analysts compiled by the bank.
UBS also boosted profits by 54 percent for the full year, due to strong lending and trading among its wealthy and ultra-wealthy clients, coupled with a surge in investment banking activity.
According to CEO Ralph Hamers, their strong 2020 results clearly demonstrate the true strength of their franchise.
The board of Switzerland’s biggest bank intends to propose a dividend of $0.37 per share to shareholders while buying back around $1.1 billion of shares this quarter.
UBS will be launching a new three-year buyback program of up to $4.50 billion, as well as wrap up an existing one.
