
Swiss Bourse Turns to Smaller UK Exchange for Trade Tech Revamp
The group has been studying whether Aquis's matching engine — the software component that pairs orders and processes transactions — can support trading in Swiss and Spanish stocks before the acquisition is expected to close this quarter, SIX Chief Executive Officer Bjørn Sibbern, said in an interview.

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CNBC
3 hours ago
- CNBC
CNBC Daily Open: Russian oil costs India big
India's set to face a 50% tariff after the White House announced an additional 25% levy on the South Asian country Wednesday over its purchases of Russian oil. That's now among the highest duties on any of the U.S.' trading partners. New Delhi responded swiftly in a statement Wednesday, describing the U.S.' decision to raise tariffs as "unfair, unjustified and unreasonable," and that the country's imports are based on market factors and to ensure energy security for its population. Earlier on Monday, India's Ministry of External Affairs called out what it says is selective enforcement in a statement, adding that "it is revealing that the very nations criticizing India are themselves indulging in trade with Russia." It cited data that showed the EU's trade was "significantly more" than India's total trade with Russia. And it seems that India isn't the only country on U.S. President Donald Trump's radar as he sets to punish countries that buy oil from Russia. His latest executive order also directs his administration to "determine whether any other country is directly or indirectly importing Russian Federation oil," and the actions, if any, that need to be taken on that country. — U.S to impose 50% tariff on India over Russian oil purchases. Trump announced in an executive order Wednesday that the new 25% duties will come into effect in 21 days, while the previously announced 25% rate will kick in Thursday. Semiconductor tariffs of 100%. Unless companies can manufacture in the U.S., Trump said Wednesday that he would impose that tariff rate on imports of semiconductors and chips into the country. U.S. stocks gain on Apple's investment. Markets gained Wednesday after Apple's shares climbed 5% on its increased U.S. manufacturing investment. The European Stoxx 600 was flat, while the Swiss Market Index fell 0.9% as Swiss officials met with their counterparts to continue tariff negotiations. Apple commits $100 billion to U.S. expansion. Apple CEO Tim Cook and President Donald Trump unveiled the manufacturing boost Wednesday. That's on top of the $500 billion that the iPhone maker announced in February, and brings its total U.S. investment to $600 billion over the next four years. [PRO] Chip stocks have been going through a rough ride this earnings season. Texas Instruments, ON Semiconductor, Qualcomm, and Arm posted earnings beats but were met with steep sell-offs as investors demand more than solid execution. Why India is in Trump's crosshairs when crude is not even sanctioned India was once encouraged to buy Russian crude by the United States. It is one of the biggest buyers of Russian oil, according to data from Kpler, which shows total Russian crude exports amount to around 3.35 million barrels per day, of which India takes about 1.7 million. Sara Vakhshouri, the founder and president of SVB Energy International, told CNBC the hefty duties announced by Trump are a "negotiation tactic," aimed at "reclaiming lost U.S. oil market share in India and oil export declines since 2022, and securing equivalent export of other commodity to India." —


Bloomberg
5 hours ago
- Bloomberg
China's Property Slump to Last Longer Than Expected, UBS Says
UBS Group AG, which had been among the few firms predicting a recovery in China's property sector, now expects a delay following a renewed sales slowdown in the second quarter. John Lam, head of China and Hong Kong property research at the Swiss bank, said in March that home prices in top-tier cities would 'turn stable' by early 2026. He now anticipates that to happen in mid-to-late 2026, unless Beijing introduces additional stimulus measures.


The Hill
7 hours ago
- The Hill
Meta bans millions of WhatsApp accounts linked to scam operations
Meta took down 6.8 million WhatsApp accounts tied to scam operations on Tuesday after victims reported financial fraud schemes. The company said many of the scam sources were based in Southeast Asia at criminal scam centers. 'Based on our investigative insights into the latest enforcement efforts, we proactively detected and took down accounts before scam centers were able to operationalize them,' Meta said in a Tuesday release. 'These scam centers typically run many scam campaigns at once — from cryptocurrency investments to pyramid schemes. There is always a catch and it should be a red flag for everyone: you have to pay upfront to get promised returns or earnings,' they wrote. In an effort to ensure users are protected, the company said it would flag when people were added to group messages by someone who isn't in their contact list and urge individuals to pause before engaging with unfamiliar messages where they're encouraged to communicate on other social platforms. 'Scams may start with a text message or on a dating app, then move to social media, private messaging apps and ultimately payment or crypto platforms,' Meta said. 'In the course of just one scam, they often try to cycle people through many different platforms to ensure that any one service has only a limited view into the entire scam, making it more challenging to detect,' the company added. The Tuesday release highlighted an incident with Cambodian users urging people to enlist in a rent a scooter pyramid scheme with an initial text message generated by ChatGPT. The message contained a link to a WhatsApp chat which redirected the target to Telegram where they were told to like TikTok videos. 'We banned ChatGPT accounts that were generating short recruitment-style messages in English, Spanish, Swahili, Kinyarwanda, German, and Haitian Creole. These messages offered recipients high salaries for trivial tasks — such as liking social media posts — and encouraged them to recruit others,' OpenAI wrote in their June report focused on disrupting malicious artificial intelligence efforts. 'The operation appeared highly centralized and likely originated from Cambodia. Using AI-powered translation tools, we were able to investigate and disrupt the campaign's use of OpenAI services swiftly,' the company added. The Federal Trade Commission has reported a steady increase in social media fraud. The agency said more money was reported lost to fraud originating on social media than any other method of contact from January 2021 to June 2023 — with losses totaling $2.7 billion.