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Yahoo
3 days ago
- Sport
- Yahoo
Wimbledon increases winning prize to Grand Slam record $4M
Spain's Carlos Alcaraz and other tennis stars will compete in Wimbledon 2025 from June 30 to July 13 in London. File Photo by Hugo Philpott/UPI June 12 (UPI) -- The men's and women's champions of Wimbledon 2025 will receive $4.07 million apiece, the most ever given to a winner of a Grand Slam, the All England Lawn Tennis Club announced Thursday. Wimbledon 2025 will be held from June 30 to July 13 in London. Advertisement All England Lawn Tennis Club chair Deborah Levans said at a news conference that the total prize will be $72.5 million, a 7% increase compared to last year. The $4.07 million first-place prize represents an 11.1% increase from last year. Players who participate in the main draw, but lose in the first round, will receive nearly $90,000, up 10% from 2024. "This year's round-by-round breakdown shows our focus on both the early and late rounds of the draw, rewarding the successes of our champions, but also continuing to support the lower-ranked players," Levans said. Officials also announced Thursday that no line judges will be involved at Wimbledon and will be replaced for the first time by electronic line calling. Advertisement They also said that the men's and women's singles finals will be held at 11 a.m. EDT, two hours later than their previous start times. "Adjusting the finals weekend schedule, with the doubles final starting at 1 p.m. and the singles final starting at 4 p.m. will provide a weekend of excitement where both days culminate with the singles champions being crowned in front of the largest possible worldwide audience," Wimbledon CEO Sally Bolton said.
UPI
3 days ago
- Business
- UPI
Wimbledon increases winning prize to Grand Slam record $4M
Spain's Carlos Alcaraz and other tennis stars will compete in Wimbledon 2025 from June 30 to July 13 in London. File Photo by Hugo Philpott/UPI | License Photo June 12 (UPI) -- The men's and women's champions of Wimbledon 2025 will receive $4.07 million apiece, the most ever given to a winner of a Grand Slam, the All England Lawn Tennis Club announced Thursday. Wimbledon 2025 will be held from June 30 to July 13 in London. All England Lawn Tennis Club chair Deborah Levans said at a news conference that the total prize will be $72.5 million, a 7% increase compared to last year. The $4.07 million first-place prize represents an 11.1% increase from last year. Players who participate in the main draw, but lose in the first round, will receive nearly $90,000, up 10% from 2024. "This year's round-by-round breakdown shows our focus on both the early and late rounds of the draw, rewarding the successes of our champions, but also continuing to support the lower-ranked players," Levans said. Officials also announced Thursday that no line judges will be involved at Wimbledon and will be replaced for the first time by electronic line calling. They also said that the men's and women's singles finals will be held at 11 a.m. EDT, two hours later than their previous start times. "Adjusting the finals weekend schedule, with the doubles final starting at 1 p.m. and the singles final starting at 4 p.m. will provide a weekend of excitement where both days culminate with the singles champions being crowned in front of the largest possible worldwide audience," Wimbledon CEO Sally Bolton said.
UPI
06-06-2025
- Business
- UPI
Swiss government proposes requiring banks to hold more capital
Switzerland's Federal Council Friday submitted new capital requirements for mega-banks like UBS in the wake of the Credit Suisse crisis. It requires UBS to hold $26 billion more in core capital. The Swiss National Bank and financial regulator FINMA both backed the proposed capital requirement changes. Photo by Hugo Philpott/UPI | License Photo June 6 (UPI) -- Switzerland's Federal Council Friday submitted new capital requirements for mega-banks like UBS in the wake of the Credit Suisse crisis. It requires UBS to hold $26 billion more in core capital. The Swiss Federal Council said in a statement that a review of the Credit Suisse crisis showed reforms are needed to reduce risks for the state, taxpayers and the economy. "These include stricter capital requirements for systemically important banks with foreign subsidiaries, additional requirements on the recovery and resolution of systemically important banks, the introduction of a senior managers regime for banks and additional powers for the Swiss Financial Market Supervisory Authority (FINMA)," the Federal Council statement said. The council is proposing amendments to the Banking Act in the wake of the Credit Suisse crisis that led to the UBS/CS merger. The Swiss National Bank supported the proposed amendments. "The Swiss National Bank supports the amendments at legislative and ordinance level planned by the Federal Council in the areas of capital and liquidity requirements for systemically important banks, early intervention, and recovery and resolution planning. The measures planned are key to strengthening banks' resilience and their resolvability in a crisis, and thus the stability of the financial system." "The crisis at Credit Suisse highlighted weaknesses in the regulatory framework. The regulatory adjustments now planned constitute a package of measures drawing the right lessons from this crisis." One major concern about UBS is its ability to cope with losses in its foreign units, and that's one of the reasons the Swiss government is increasing capital requirements. FINMA said it also backs the proposed changes ot the Banking Act. "FINMA welcomes the planned introduction of several preventive and disciplinary instruments that will set the right incentives for supervised institutions and thus make a decisive contribution to reducing the likelihood of crises and resolution occurring in the Swiss banking centre." FINMA said in particular, it supports, "the planned new statutory powers for FINMA in the areas of corporate governance, early intervention, recovery and resolution, as well as the introduction of higher capital requirements for systemically important banks with subsidiaries abroad." Morningstar senior equity analyst Johann Scholtz said in a note, "While winding down Credit Suisse's legacy businesses should free up capital and reduce costs for UBS, much of these gains could be absorbed by stricter regulatory demands." The new capital rules would require UBS to fully capitalize its foreign branches and do fewer stock buybacks. UBS took over Credit Suisse in 2023, with the government underwriting $10 billion in UBS losses created by the takeover.
UPI
24-05-2025
- Business
- UPI
Record number of Americans apply to become British citizens after Trump took office
A London bus drives past the Bank of England after global stock markets collapse following market reactions to President Trump's tariffs on global goods and services in London on April 7. A record number of Americans want to become British citizens since Trump became president Photo by Hugo Philpott/UPI | License Photo May 24 (UPI) -- A record number of Americans applied to become British citizens during the first three months of this year after Donald Trump re-took office as president, according to official data. The last time American applications for British citizenship spiked was in 2020 during Trump's first presidential term early in the COVID-19 pandemic. This comes as the British government is toughening requirements for legal migrants and extending the wait for newcomers to claim citizenship. Britain's Home Office on Thursday reported 6,618 U.S. citizens applied for British citizenship over the past 12 months through March, the highest annual figure since records began in 2004. That includes 1,931 applications between January and March -- the highest number for any quarter on record. There also is a record number of Americans seeking to live and work indefinitely in the country as a necessary precursor to citizenship. Of the 5,521 settlement applications granted last year, most were for people eligible because of their spouses, parents and other family links. And a substantial portion had originally arrived in Britain on temporary visas for "skilled workers" and want to remain. For the year through March, there were 238,690 applications worldwide, an increase of 238,690 for the same period last year. Some people might qualify "more swiftly" for permanent settlement in Britain depending on the "contribution" they made, Yvette Cooper, the home secretary, said in Parliament on May 12. Since Trump was elected president again, immigration lawyers told The New York Times they had received an increased number of inquiries from people in the United States about possibly relocating to Britain. "People who were already here may have been thinking, 'I want the option of dual citizenship in the event that I don't want to go back to the U.S,'" Muhunthan Paramesvaran, a senior immigration lawyer at Wilsons Solicitors in London, said. There also have been increased applications from non-U.S. citizens living there seeking to go to Britain. "We've seen increases in inquiries and applications not just for U.S. nationals, but for U.S. residents of other nationalities who are currently in the U.S. but looking at plans to settle in the U.K.," Zeena Luchowa, a partner at Laura Devine Immigration, a law firm that specializes in American migration to Britain, said. "The queries we're seeing are not necessarily about British citizenship - it's more about seeking to relocate." This comes as British authorities under a Labor government are trying to reduce immigration. Prime Minister Keir Starmer said Britain has to take "back control of our borders" and warned uncontrolled immigration could result in "becoming an island of strangers, not a nation that walks forward together." British figures show net migration dropped by almost half in 2024 to 431,000 compared with 2023. The British government had extended the qualification period from five years to 10 before they could apply for settlement. Also, the government wants to raise English language requirements across every immigration route. In 2021, nine out of 10 migrants reported speaking English well, according to analysis by the Oxford University Migration Observatory. On May 5, European Union nations announced they would spend $566 million from 2025 to 2027 to attract foreign researchers after the Trump administration cut funding to universities in the United States. Britain left EU in 2020. Under Trump's direction, there will be a "gold card" at a cost of $5 million, as an extension of the EB-5 program that extends green cards to foreign investors and their families. "We're going to be selling a gold card," Trump told reporters on Feb. 5 in the Oval Office, which is adorned by items in gold. The current program grants green cards to immigrants who make a minimum investment of at least $1.050 million or $800,000 in economically distressed areas. Commerce Secretary Howard Lutnick said Wednesday: "I expect there will be a website up called 'Trump card dot gov' in about a week. The details of that will come soon after, but people can start to register."
