"Whilst there is a big dispute at the moment, I think there's also potential for resolution," UBS chairman Axel Weber says of the U.S.-China trade negotiations.World Economyread more
The Kingdom and oil and gas industry have been slow to shore up defenses, raising red flags about the possibility of longer term fall-out in the region.Technologyread more
Tensions between South Korea and Japan may ultimately disrupt the high-end tech sectors, says Heenam Choi, CEO at South Korea's sovereign wealth fund.Traderead more
On Sunday, the 71st Primetime Emmy Awards will honor the best comedies, dramas, limited and variety series from the last year.Entertainmentread more
Removing Neumann is a difficult decision for Son, who has long believed in WeWork and Neumann's vision to quickly expand the company.Technologyread more
Datadog went public on Thursday and instantly hit a $10 billion valuation, becoming the fourth cloud software debut to reach that level this year.Technologyread more
There are challenges with Iran, North Korea, the Afghan Taliban, Israel and the Palestinians — not to mention a number of trade pacts.Politicsread more
Blackstone Executive Vice Chairman Tony James says he's less optimistic now than before that the U.S.-China trade war could be resolved, but even a smaller deal could help...World Economyread more
In his new memoir, "The Ride of a Lifetime," Iger explains why he decided against the deal to buy Twitter.Technologyread more
In perhaps Buffett's first televised profile, he explained a method of investing that prioritizes bargains and makes use of an occasional baseball analogy.Marketsread more
Gluskin Sheff's David Rosenberg reinforces his recession forecast following the Federal Reserve's September meeting.Futures Nowread more
UBS, the Swiss bank, beat expectations Friday with a second-quarter net profit of 1.03 billion Swiss francs ($1.05 billion), higher than the 680 million Swiss francs forecast by analysts.
Sergio Ermotti, chief executive of the bank, warned CNBC: "There is very little visibility about the future on every front, both macro and geopolitical. I don't see any relief in the foreseeable future."
The Swiss lender said that volatility, uncertainty and geopolitical tensions were causing client "risk aversion" and depressing transaction volume, and that this was unlikely to change soon - echoing the other major European banks which have reported earnings this week. Profits are being dented by low or negative interest rates, and wealthy clients cutting their number of transactions as they are unwilling to take risks in choppy markets.
"We are not really pushing clients to execute trades because their risk aversion is so high," Ermotti told CNBC.
The bank's profits were down from 1.2 billion Swiss francs in the same period in 2015, when market conditions were much more favorable.
UBS's Swiss rival Credit Suisse reported a surprise profit for the second quarter of 2016 on Thursday.
Meanwhile, UBS may be on the verge of a rescue attempt for Monte dei Paschi di Siena, the struggling Italian bank. Italy's third-biggest lender, said in a statement on Thursday that it has received a last-minute rescue proposal from UBS, within hours of an expected bailout.
Monte dei Paschi di Siena, like many Italian banks, has been struggling with a high level of non-performing loans (NPLs) or bad debts.
Ermotti declined to comment on the potential deal but pointed reporters to the statement.
He confirmed that increased trading activity around the Brexit referendum had helped boost the bank's foreign exchange trading division.
One of the biggest questions around Brexit is whether the U.K.'s financial service industry will be able to continue at current levels. Ermotti said "we are flexible and ready to respond once the rules are determined" but added that there are plenty of places UBS could move business in Europe if the U.K. loses its important "passporting" rights for trading in Europe as part of its exit from the European Union.