UBS and Banco do Brasil to launch new investment bank in South America
(Reuters) - UBS Group AG and Brazilian state-controlled lender Banco do Brasil SA are set to launch an investment bank in South America, UBS said on Wednesday. UBS will hold a 50.01% stake and Banco Do Brasil will own a 49.99% stake in the new investment bank, according to UBS. Both companies will appoint three members each to the board of the new investment bank, the statement said
(Reuters) - UBS Group AG
UBS will hold a 50.01% stake and Banco Do Brasil will own a 49.99% stake in the new investment bank, according to UBS.
Both companies will appoint three members each to the board of the new investment bank, the statement said.
UBS added that the investment bank's chairperson will be appointed by Banco Do Brasil, while UBS will appoint the Vice Chairperson and Chief Executive Officer.
Reuters reported in September that the two companies were in advanced talks for an investment banking joint venture.
(Reporting by Dominic Roshan K.L. in Bengaluru; Editing by Sonya Hepinstall)
This story has not been edited by Firstpost staff and is generated by auto-feed.
Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.
(Reuters) - The U.S. Centers for Disease Control and Prevention (CDC) on Wednesday reported 10,170,846 cases of the novel coronavirus, an increase of 134,383 cases from its previous count, and said that the number of deaths had risen by 1,859 to 239,590. The CDC reported its tally of cases of the respiratory illness known as COVID-19 as of 4 p.m.
By Jason Lange and Julia Harte WASHINGTON (Reuters) - Georgia will re-count all paper ballots cast in the Nov. 3 presidential election by hand, the state's top election official said on Wednesday, a mammoth task that must be completed by Nov. 20
By Manas Mishra and Dania Nadeem (Reuters) - Moderna Inc could have data from a large trial of its experimental COVID-19 vaccine anywhere between "a couple of days" to "a little more than a week", the top U.S.