UBS said it will separate its business into three autonomous units to better manage its businesses after announcing a second quarter loss of SFr358m.

The Zurich-based bank said it will separate its wealth management business from investment banking, ending its once prized one-bank strategy.

UBS to split investment bank and wealth management, reports loss

Press Briefing

Morgan Stanley’s investment bank notches record quarter as stock trading surges

JPMorgan stock traders post record quarter as Trump policies prompt wild market swings

Big bonuses see women fall further behind men at Wall Street investment banks

Trading Places: Barclays hires new M&A boss, Julius Baer restructures again

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Find out who is on the move in the City and beyond this week

HSBC hands Blackburn top risk role as shake-up continues

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The UK lender has given the leading compliance job to a 20-year veteran

Barclays hires Centerview dealmaker Woeber to lead global M&A

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The UK lender has tapped a veteran dealmaker to head up a key area of growth

Wells Fargo booked a bigger profit in the first quarter, as lower expenses helped offset a decline in net interest income.

Wells Fargo Profit Rises, Boosted by Lower Expenses

Several big law firms are discussing $500 million in pro bono legal services with the White House to avert restrictions on their business, people familiar with the matter said.

By Emily Glazer, Josh Dawsey and C. Ryan Barber

Latham & Watkins, Simpson Thacher Near Deals With White House

Treasury Secretary Scott Bessent helped persuade the president to take some time and negotiate with trading partners in the face of pressure from business leaders.

By Annie Linskey, Josh Dawsey and Meridith McGraw

Why Trump Blinked on Tariffs Just Hours After They Went Into Effect

Generative AI is going to reinvent virtually every customer experience and enable entirely new ones that have only been dreamed about, Amazon.com Chief Executive Andy Jassy said.

Amazon CEO Says Generative AI Will Reinvent Every Customer Experience

Carney said the 90-day pause, and Trump’s pledge to negotiate new trading arrangements with dozens of countries, “will likely result in a fundamental restructuring of the global trading system.”

Trump’s Tariff Pause ‘Welcome Reprieve’ For Global Economy, Canada PM Carney Says

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