UBS Group AG

UBS Group AG will likely shrink Credit Suisse Group's $10 billion shipping portfolio that it inherited as part of its emergency takeover on Sunday, the Wall Street Journal reported on Wednesday.

UBS could also try to sell the portfolio, but doing so could prompt owners to move their accounts elsewhere, the WSJ reported, citing people familiar with the matter.

Swiss Finance Minister Karin Keller-Sutter said the government's decision to provide liquidity support to UBS Group AG and Credit Suisse was made with the aim of maintaining financial stability and not simply a desire to save a troubled institution.

Singapore has long been a draw for wealthy Chinese, Indonesians and Malaysians who would come for short trips to shop, play  at the casino or get medical check-ups at world-class clinics. Mount Elizabeth Hospital Orchard, just steps from the flagship stores of Gucci and Rolex, features a UOB Privilege Banking Centre in the lobby.

By Giles Broom

A Greek exit from the euro area would only bring a temporary halt to the rally in European equities and high-yielding credit, GAM Holding AG Chief Executive Officer Alexander Friedman said.

By Katie Linsell and Sally Bakewell

The battle between fear and greed in Europe?s credit markets is over as Mario Draghi?s quantitative easing ensures that not even the threat of a Greek exit from the euro is endangering risk appetite.