Richard Yu, CEO of Huawei's consumer business, said Huawei's own operating system for smartphones and laptops could be ready for use in China by fall this year.Technologyread more
After holding parliamentary elections over seven phases, India started counting the votes on Thursday — and Prime Minister Narendra Modi's Bharatiya Janata Party-led coalition...Electionsread more
Among the many ways Trump has shattered White House norms, his impulsive public communications rank among the most consequential. By inspiring investors or spooking them, his...Politicsread more
A federal judge in New York City on Wednesday said Deutsche Bank and Capital One can turn over financial documents related to President Donald Trump and his businesses in...Politicsread more
China accounted for 40% to 60% of the global increase in trichlorofluoromethane, or CFC-11, emissions between 2014 and 2017, a study found.Scienceread more
CNEX, backed by Microsoft and Dell, filed new allegations in a Texas suit accusing China's Huawei and an executive of trade secrets theft.Technologyread more
With Amazon and Walmart facing regulatory hurdles in India, Reliance's Mukesh Ambani isTechnologyread more
Tech usage and addiction inspires a billion-dollar mindfulness industry. CNBC's Uptin Saiidi attempts three days without any digital gadgets.Technologyread more
Japan's Panasonic said on Thursday it has stopped shipments of certain components to Huawei Technologies to comply with U.S. restrictions on the Chinese company.Technologyread more
Treasury Secretary Steven Mnuchin told CNBC on Wednesday that a trip to Beijing to resume trade negotiations has not been scheduled yet, reducing hopes of a speedy resolution...Asia Marketsread more
Research analyst Adam Jonas, a long-time Tesla bull, said it's extremely unlikely that big tech firms like Apple or Amazon would buy it.Technologyread more
Swiss banking giant UBS reported a surge in profit on Tuesday, beating analysts' forecasts, as market volatility and strong client activity boosted earnings in the first quarter of 2015.
The lender said it had navigated the extraordinary challenges of the period, which included the Swiss National Bank's shock decision to unpeg its currency from the euro.
Net profit came in at 1.98 billion Swiss francs ($2.12 billion), up from 1.05 billion francs from the year-ago period, and nearly double a Reuters forecast of 1.1 billion francs. Shares were trading higher by 6 percent during the morning session on Tuesday.
Tom Naratil, the bank's chief financial officer, told CNBC Tuesday that it was hard to analyze whether the strong first quarter would continue throughout the year, but said that it was a "really good start."
"It's a solid start, a strong quarter. We're pleased to see all of our businesses performing well in the quarter," he said.
"I think this really highlights the advantages of defining your strategy early, of having a clear strategy and also of executing with discipline across all of our business lines."
UBS' wealth management business delivered its highest profits since 2008, the bank said in the release Tuesday morning, and the global asset management division posted its best quarter since 2009.
UBS warned that many of the underlying macroeconomic challenges seen in the first quarter of 2015 were still present and were unlikely to be resolved in the foreseeable future.
However, it said that it expected its wealth management businesses to continue to attract new deposits in the second quarter.
"Despite ongoing and new challenges, we continue to be committed to the disciplined execution of our strategy in order to ensure the firm's long-term success and to deliver sustainable returns for our shareholders," the bank said in a press release.
UBS also said that it was still involved in various disputes and legal proceedings, including regulatory and criminal investigations.
It highlighted that it could also be subject to further fines due to the possible manipulation of the foreign exchange markets. The bank added that it was in discussions with several investigating authorities about possible terms of a resolution for their investigations, and that talks with the U.S. Department of Justice had reached an "advanced stage."
"Other investigating authorities may seek to conclude potential resolutions in the near future," UBS said on the alleged forex manipulation. "We believe that our provisions in relation to these matters are adequate to meet the anticipated financial terms of such resolutions."
UBS has already paid a total of approximately 774 million Swiss francs to authorities in connection with foreign exchange investigations.
The bank also said its capital strength was a key element to its success, and that it had a Basel III common equity tier 1 ratio - how much money the bank holds compared to its assets - of 13.7 percent at the end of March.
—CNBC's Carolin Roth contributed to this article.