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Wednesday, July 30, 2025, UBS Group AG headquarters in Zurich, Switzerland.Bloomberg | Bloomberg | Getty Imagesmajor swiss banks UBS on Wednesday reported better-than-expected third-quarter net income due to strong performance in its investment banking business and the release of legal provisions.Net income attributable to shareholders was $2.5 billion for the three-month period, an increase of 74% from $1.43 billion in the year-ago period. Analysts had expected third-quarter net income to be $1.85 billion, according to consensus compiled by LSEG.Switzerland’s largest bank said the net gain included a release from litigation reserves of $668 million, primarily from the resolution of legal…
Welcome to the third and final day of TechCrunch Disrupt 2025 at Moscone West in San Francisco! The excitement here is still at its peak and shows no signs of slowing down. If you thought it was too late to join, think again. There’s still time to sign up and get in on the action with a 50% discount. You don’t have to wait a year to join this year’s tech capital. Today’s agenda features some of the most anticipated on-stage sessions and highlights insights from pioneers such as Rohit Patel, director of the MetaSuperintelligence Institute. Kirsten Green, founding partner…
Sam Altman, CEO of OpenAI, attended the annual Allen & Company Sun Valley Media & Technology Conference held at Sun Valley Resort in Sun Valley, ID on July 8, 2025.David A. Grogan | CNBCOpenAI on Wednesday announced two inference models that developers can use to classify various online safety hazards on the platform. The artificial intelligence models are called gpt-oss-safeguard-120b and gpt-oss-safeguard-20b, and their names reflect their size. These are tweaked, or adapted, versions of OpenAI’s gpt-oss model, which the company announced in August. OpenAI introduces them as so-called open weight models. This means that its parameters, the factors that…
Iran appears to be ramping up its rebuilding of its ballistic missile program, despite last month reintroducing UN sanctions banning arms sales and ballistic missile activity to the country. European sources said that since the so-called “snapback” mechanism was activated at the end of September, several ships of sodium perchlorate, the main precursor for producing solid propellants that power Iran’s medium-range conventional missiles, have arrived from China at Iran’s Bandar Abbas port. The sources said the shipment, which began arriving on September 29, contains 2,000 tons of sodium perchlorate, which Iran purchased from a Chinese supplier following a 12-day conflict…
The US Federal Reserve is widely expected to cut interest rates at its meeting on Wednesday, leaving little to no room for surprise. The rest of the excitement centers on what the central bank signals about its balance sheet and future direction. Short-term interest rates have been particularly volatile in recent weeks, with the U.S. repo market trading within several basis points of the Fed’s limit and actually rising above the upper end of the range on Monday, suggesting a potential liquidity crunch. The repo market is considered the plumbing of the U.S. financial system, providing short-term collateralized overnight loans…
Etsy NYC headquarters building in New York City.Michael M. Santiago | Getty Images News | Getty ImagesEtsy Chief Executive Officer Josh Silverman will step down from his role and transition to the role of executive chairman at the end of the year, the online marketplace announced Wednesday.Kurti Patel Goyal, Etsy’s president and head of growth, who previously oversaw the Depop reseller app, will take the helm at Etsy starting January 1, 2026, the company announced. Etsy stock fell more than 5% in morning trading following the news, which was announced alongside its third-quarter earnings report. The company reported strong sales…
This report is from this week’s CNBC UK Exchange newsletter. See what you see? You can subscribe here.dispatchThe UK economy, like many of its continental European peers, faces well-established challenges. These include high debt-to-GDP ratios, high fiscal deficit-to-GDP ratios, and an aging population that places increasing demands on the state even as growth remains stagnant.But all is not lost, and last Thursday’s events highlighted that some regions are still expanding strongly and, crucially, attracting domestic investment into activities that will help Britain earn a living in the world for decades to come.Innovate Cambridge, an organization that aims to promote the…
When Phia founders Phoebe Gates and Sofia Chianni decided to launch an AI startup, they targeted an area they understood well: online shopping. The founders, who met at Stanford University when randomly paired as roommates, understood e-commerce because they had spent hours finding the right items to expand their wardrobes. And they realized that AI had the potential to help people discover, shop, and buy in new ways. They also realized that competency was a market opportunity. “It felt like there was a huge white space, like what to actually buy and why doesn’t everyone have a personal shopper in…
Nvidia Corp. Chief Executive Officer Jensen Huang speaks to Bloomberg TV at the Nvidia AI Summit on Tuesday, October 28, 2025 in Washington, DC, USA. Kent Nishimura | Bloomberg | Getty ImagesThis is CNBC’s Morning Squawk newsletter. Subscribe here to receive future editions in your inbox.Here are five important things investors need to know to start their trading day.1. Pass the fistNvidia It turned heads yesterday, both literally and figuratively. In addition to signing deals with several well-known companies, CEO Jensen Huang also made important announcements regarding domestic production at Chip Titan’s technology conference.Here’s the full overview:nokia Nvidia said it…
India reached 97-1 in 10 overs against hosts Australia when it rained in Canberra in the first T20 of the series.Published October 29, 2025October 29, 2025Click here to share on social mediaShare 2shareThe first Twenty20 between Australia and India was called off due to rain in Canberra, with the tourists playing less than half their allotted overs and ending with a total of 97-1.Shubman Gill was not out on 37 and skipper Suryakumar Yadav was unbeaten on 39 when the second and final match of the first match of the five-match series was called off after 9.4 overs on Wednesday.Recommended…