Acquisition of Credit Suisse by UBS

Swiss banking giant UBS reported better-than-expected earnings on Wednesday as the integration of Credit Suisse led to lower costs.

The group reported a net profit of more than $1.1 billion for the quarter from April to June, well above the median analyst forecast of $608 million.

The fourteenth iteration of the "Global Wealth Report", published on Wednesday by Credit Suisse and UBS, illustrates that the European south has recovered from the effects of the pandemic.

The report also claims that there are 79,000 millionaires (in US dollars) in Greece.