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Yahoo
5 days ago
- Sport
- Yahoo
Family detail emerges after Queensland player banned for entire Origin series
AJ Brimson has opened up on his decision to switch allegiances from Australia to England - a call that has ended his State of Origin career and seen him banned from representing Queensland ever again. Last month, the International Rugby League (IRL) approved Brimson's application to make himself available for England. In a situation similar to that of Kalyn Ponga, Brimson had been bound to represent Australia at international level because he played on the Aussie team at the Rugby League World Cup 9s event in 2019. But the IRL ruled that the World Cup 9s is no longer relevant because it's effectively been discontinued, and was "unfairly" restricting players from featuring at Test level. With Brimson's chances of playing for the Kangaroos an extreme long shot, he decided to switch allegiances to England due to his mother's heritage. But it means his State of Origin career is over because England is a Tier-1 nation. Anyone who represents England or New Zealand is banned from playing Origin, meaning Brimson won't be adding to his four career games for the Maroons. With Kalyn Ponga, Reece Walsh and Hamiso Tabuai-Fidow ahead of him in the pecking order, Brimson probably thought his Origin career was over anyway. But the axing of Daly Cherry-Evans as halfback opened up a spot on the bench when Tom Dearden was promoted to the starting side for Game 2. Whether or not Brimson would have been a shot for that bench role remains to be seen, but some had speculated he could have been in contention had he not switched allegiances to England. RELATED: NRL world sends flood of messages over news about Yvonne Sampson Panthers cops unwanted blow as NSW forced into late Origin change But speaking over the weekend, the 26-year-old said he has no regrets and wants to make his mother and family proud. "I am obviously a very proud Queenslander. I grew up in Brisbane and my dream was to play Origin but I also grew up with a mum and family from England," said Brimson, whose mother Vanessa is English. "I always thought it would be great if I could get the chance to represent both sides of the family because I am very proud of my English heritage as well. I am 27 (in September) ... I am getting on. It is something I've wanted to do for a while, play for England, so I will be putting my hand up to try to play for them this year and going forward." Brimson said he and partner Brooklen want their young son Beckham to understand his heritage. "My son is called Beckham so he has got a bit of English heritage as well," Brimson said. "It would be cool for my son to see me play for England. I want him to know his heritage as well. It's always hard when you say you can't be eligible for Origin being a Queenslander but the opportunity to play for England is something I couldn't pass up. "It's a big decision to make. You don't take it lightly. Origin is something that is very important to me. I have got all my kit and have got my kid dressed in Queensland gear on Origin (night). Nothing is taking away my passion for Queensland but when you have got parents from different countries, you've got two heritages." View this post on Instagram A post shared by AJ Brimson (@brimmmo) With England and Australia set to battle in the revamped Ashes series later this year, Brimson said it was an opportunity he couldn't refuse. "(The Ashes) would be insane to be a part of, especially over there. I have family over there that would love to see me play," he said. "I will try and get picked and I will play any position that the coach wants me. I want to make my England debut and the World Cup is something that is on the cards as well." with AAP
Malaysian Reserve
11-06-2025
- Business
- Malaysian Reserve
Kenanga launches RM500m AT1 capital programme to support business growth
KENANGA Investment Bank Bhd has established an Additional Tier 1 Capital Securities (AT1CS) programme of up to RM500 million to strengthen its capital position and support future business needs. The perpetual securities issued under the programme may be called by the bank with Bank Negara Malaysia's approval and will qualify as Additional Tier 1 capital under the central bank's Capital Adequacy Framework. Proceeds from the issuance will be used for capital expenditure, working capital, refinancing of existing debt, or other general corporate purposes. –TMR
Yahoo
10-06-2025
- Business
- Yahoo
UBS Capital Requirements Rise Following Switzerland's Proposal
Switzerland's Federal Department of Finance ('FDF') has proposed stricter rules for UBS Group AG UBS following its takeover of Credit Suisse. The move has been attempted to reduce the risks of another Credit Suisse-style Swiss government has proposed that UBS should fully capitalize its foreign subsidiaries, up from the current 60% threshold. This will require UBS to increase its common equity tier-one capital by up to $26 bank will be allowed to reduce its Additional Tier 1 (AT1) bond holdings by $8 billion. Still, this will result in a net increase of $18 billion in FDF stated, 'The Credit Suisse crisis made it clear that the Swiss parent bank's capital base was insufficient. The implementation of the package of measures is intended to substantially reduce the likelihood that another systemically important bank in Switzerland will get into a severe crisis, and that emergency measures by the state will be required.'Per the FDF, this estimate assumed no change in UBS's balance sheet size, risk-weighted assets or its potential use of mitigation said it 'strongly disagrees with the extreme increase in capital requirements that has been proposed. These changes would result in capital requirements that are neither proportionate nor internationally aligned.'Notably, the 'too big to fail' proposals (still subject to parliamentary approval) have come after the Swiss financial regulator granted capital relief to Credit Suisse in 2017, allowing the bank to inflate the value of its foreign the new capital proposals will be put out for consultation before being submitted to the the FDF, the proposed reforms will not become law before 2028, and UBS will be given a six to eight-year transition period to implement the changes once the legislation comes into force. UBS took over its rival Credit Suisse in a state-sponsored rescue in then, UBS has been facing challenges and legal claims, which is increasing costs. Last month, UBS agreed to pay $511 million to resolve a tax probe by the U.S. Department of Justice against Credit Suisse for preparing false income tax returns and tax UBS is on track to substantially complete the integration of Credit Suisse by the end of 2026 and, hence, achieve the targeted cost the first quarter of 2025, UBS completed consolidating its branch network in Switzerland, merging 95 branches since the July 2024 merger with Credit Suisse. The company is initiating its Swiss business migrations and aims to complete the migrations by the first quarter of the first quarter of 2025, UBS realized an additional $0.9 billion in gross cost savings. Cumulative gross cost savings at the end of the first quarter of 2025 amounted to $8.4 billion compared with the 2022 combined cost base of UBS and Credit Suisse. This represents around 65% of its ambition to deliver $13 billion in annualized exit rate gross cost savings by the end of 2026. Over the past six months, UBS shares have gained 6.1% compared with the industry's growth of 23.1%. Image Source: Zacks Investment Research Currently, UBS carries a Zacks Rank #3 (Hold). A couple of better-ranked peer stocks are Deutsche Bank Aktiengesellschaft DB and Mitsubishi UFJ Financial Group, Inc. MUFG, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today's Zacks #1 Rank stocks estimates for DB for the current year have been revised 4.2% upward over the past 60 days. Over the past six months, DB shares have soared 57.7%.MUFG's current fiscal-year earnings estimates have been revised 4.6% higher over the past 60 days. MUFG shares have gained 16.5% over the past six months. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Deutsche Bank Aktiengesellschaft (DB) : Free Stock Analysis Report UBS Group AG (UBS) : Free Stock Analysis Report Mitsubishi UFJ Financial Group, Inc. (MUFG) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Yahoo
09-06-2025
- Business
- Yahoo
Swiss proposal mandates UBS to boost capital by $26bn
The Swiss government has proposed new capital norms, requiring UBS to increase its core capital by $26bn following its acquisition of Credit Suisse. This move aims to enhance financial stability and prevent future banking crises. The proposed regulations would mandate UBS to fully capitalise its foreign subsidiaries, reported Reuters. UBS has been given a timeframe of six to eight years to comply once the legislation is enacted. However, UBS has expressed strong opposition to the capital requirement, labelling it "extreme" and misaligned with international standards. The government indicated that the new capital requirements would allow UBS to reduce its Additional Tier 1 (AT1) bond holdings by $8bn. Currently, UBS is only required to capitalise 60% of its foreign units, with the option to use AT1 debt to meet some of its capital needs. UBS executives have raised concerns that the additional capital requirements could hinder the bank's competitiveness and impact Switzerland's status as a financial hub. The proposal follows the collapse of Credit Suisse in 2023, which prompted Swiss officials, including Finance Minister Karin Keller-Sutter, to advocate for stricter regulations to safeguard taxpayers and the economy. Keller-Sutter, who currently holds Switzerland's rotating presidency, stated that the measures are essential for the stability of the financial sector. The federal council plans to present draft proposals for stakeholder consultations in the latter half of 2025, with parliamentary approval required before the laws can take effect in 2028. However, separate ordinances could be implemented as early as 2027. UBS's Common Equity Tier 1 (CET1) capital ratio may need to rise from 14.3% to as high as 17%, surpassing that of major global competitors. UBS has indicated that it disagrees with the proposed capital increase, which it claims would necessitate holding approximately $24bn in additional CET1 capital. The Swiss government has also proposed reforms to strengthen the market regulator FINMA and improve banks' access to liquidity from the Swiss National Bank. Last month, UBS Group agreed to pay $511m to settle a US investigation into its subsidiary, Credit Suisse Group, for facilitating tax evasion among wealthy Americans. "Swiss proposal mandates UBS to boost capital by $26bn" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
02-06-2025
- Business
- Yahoo
Royal Bank of Canada Q2 Earnings Improve Y/Y on Higher Revenues
Royal Bank of Canada's RY second-quarter fiscal 2025 (ended April 30) adjusted net income available to common shareholders was C$4.41 billion ($3.10 billion), up 6.9% from the prior-year reflected the impacts of the specified items relating to the HSBC Canada transaction and integration costs, along with the amortization of acquisition-related intangibles. RY's quarterly results were aided by higher revenues, and marginal growth in loans and deposit balances. However, an increase in expenses and provisions were major headwinds. Probably because of the negatives, RY shares have lost 1.8% since the release of its results. Total revenues were C$15.67 billion ($11.03 billion), up 10.7% year over interest income was C$8.06 billion ($5.67 billion), growing 21.6% from the prior-year quarter. Non-interest income was C$7.62 billion ($5.36 billion), up 1.1% year over expenses were C$8.73 billion ($6.14 billion), up 5.1% from the prior-year company's provision for credit losses was C$1.42 billion ($999.1 million), soaring 54.8% year over year. As of April 30, 2025, Royal Bank of Canada's total loans were C$1.01 trillion ($730.8 billion), up marginally from the prior quarter. Deposits totaled C$1.45 trillion ($1.05 trillion), rising marginally from the previous quarter end. Total assets were C$2.24 trillion ($1.62 trillion), up 2.3% from the previous quarter. As of April 30, 2025, the company's Tier 1 capital ratio was 14.7%, up from the prior-year quarter's 14.1%. The total capital ratio was 16.5%, up from 16.1% in the prior-year Common Equity Tier 1 ratio was 13.2%, up from 12.8% in the prior-year quarter. Solid loan balances and a diversified product mix will likely keep driving Royal Bank of Canada's financials. However, higher provisions on the uncertain economic outlook remains a near-term concern. Royal Bank Of Canada price-consensus-eps-surprise-chart | Royal Bank Of Canada Quote Currently, Royal Bank of Canada carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. HSBC Holdings HSBC reported a first-quarter 2025 (ended March 31) pre-tax profit of $9.48 billion, which declined 25% from the prior-year quarter. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)HSBC's results were affected by a year-over-year fall in revenues, higher expected credit losses and other credit impairment charges, partially offset by a fall in Bank DB reported first-quarter 2025 earnings attributable to its shareholders of €1.78 billion ($2.01 billion), up 39.2% year over results were aided by a rise in revenues and lower expenses. However, higher provision for credit losses was a spoilsport. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Deutsche Bank Aktiengesellschaft (DB) : Free Stock Analysis Report Royal Bank Of Canada (RY) : Free Stock Analysis Report HSBC Holdings plc (HSBC) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
