UBS CEO says the AI pullback is healthy — but there’s a bigger risk investors should watch

UBS reported a profit rise in its second-quarter earnings Wednesday, as CEO Sergio Ermotti warned that geopolitical volatility could create fresh headwinds up ahead. The Swiss banking and wealth management giant’s net profit attributable to shareholders came in at $2.8 billion for the three-month period, in line with forecasts by analysts in an LSEG-compiled consensus…

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Ukraine attacks pressure point in Russia’s economy

A large plume of smoke rises over St. Petersburg following a Ukrainian drone strike targeting logistics facilities operated by Wildberries, Russia’s largest online retailer, on July 24, 2026 in St. Petersburg, Russia. Anadolu | Anadolu | Getty Images Ukraine’s drone attacks on Russia’s biggest online retailer Wildberries have ratcheted up the pressure on Moscow’s wartime…

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Oil jumps as U.S.-Iran resume strikes after a brief pause

Anton Petrus | Moment | Getty Images Oil rose sharply in Asia trading, following renewed tensions in the Middle East after Iran launched an attack on U.S. forces using ballistic missiles. Futures for international benchmark Brent crude for September delivery gained 3.42% to $86.97 a barrel. U.S. West Texas Intermediate futures for June advanced 3.58% at $82.09 per…

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SK Hynix, Samsung Electronics, SoftBank

A semiconductor wafer is on display at Touch Taiwan, an annual display exhibition in Taipei, Taiwan April 16, 2025. Ann Wang | Reuters Asian technology stocks extended their sell-off on Wednesday, with semiconductor names leading declines after another weak session in the U.S. In South Korea, SK Hynix slid more than 10% after the chip…

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