Stock Movers UBS Up, Asos Slumps, Close Brothers Slides
Sep 30, 2025
UBS raises alarms about upcoming banking regulations in Switzerland that could jeopardize its position in the country. Asos faces challenges, cutting its earnings outlook as it struggles with a complex turnaround amidst fierce competition. Close Brothers decides to streamline its operations by selling off its loss-making vehicle hire business, incurring significant costs. Each topic reveals the evolving landscape of finance and retail, highlighting the pressures companies face in today’s market.
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UBS Warns Of Existential Regulatory Risk
- UBS says proposed Swiss capital rules could threaten its future and competitiveness.
- The bank may consider moving HQ or other options if Parliament does not dilute the proposals.
ASOS Faces Sales Shortfall Amid Tough Turnaround
- ASOS says full-year earnings and sales will be at the lower end of expectations amid a slow turnaround.
- Competition from Shein and slow marketing traction have prevented sales recovery so far.
Close Brothers Sheds Vehicle Hire To Simplify Bank
- Close Brothers is exiting its loss-making vehicle hire unit and taking a £30m impairment charge.
- Management hopes the disposal and a favourable Supreme Court ruling will position the bank for simpler, future growth.