(Bloomberg) — Russia was judged to have breached the terms on a bond after missing a $1.9 million interest payment and triggering an insurance payout potentially worth billions of dollars. The Credit Derivatives Determinations Committee said a “failure-to-pay” event occurred on credit-default swaps because Russia didn’t include the additional interestContinue Reading

UBS has beat expectations for the first quarter of 2022 and said it has further reduced its exposure to Russia. The Swiss bank on Tuesday reported net profit attributable to shareholders of $2.136 billion, above forecasts compiled by the bank of $1.79 billion. It marks a 17% rise from the $1.82Continue Reading