UBS's (UBSG.VX) chairman said a default by Greece is seen by the International Monetary Fund as "systemically controllable" and he believed it would have a negligible impact on the Swiss bank itself, according to a newspaper interview published on Saturday.
Europe
Pop Milano sits pretty as Italy cooperative banks brace for M&A
At least five investment banks are vying to win a mandate from Banca Popolare di Milano (BPM) (PMII.MI) and find it a partner as Italian cooperative lenders gear up for a wave of mergers following a landmark reform of the sector.
Nokia denies return to phone manufacturing
Finland's Nokia denied reports in Chinese media that it planned to return to manufacturing phones. "Nokia notes recent news reports claiming the company communicated an intention to manufacture consumer handsets out of a R&D facility in China. These reports are false," Nokia said in a statement posted on its website.
Lower Saxony premier says VW Chairman's exit was 'unavoidable'
The premier of the German state of Lower Saxony, which owns 20 percent of Volkswagen (VOWG_p.DE), said the resignation of VW Chairman Ferdinand Piech announced on Saturday was necessary to create clarity about the carmaker's leadership.
Orange boss sees end to French telecom price war
The chief executive of France's telecom leader Orange said on Saturday he believed the price war in the national telecoms sector was coming to a close.
Latest News
No decision has yet been taken on the future of France's suspended contract to deliver Mistral helicopter carriers to Russia, French President Francois Hollande said on Friday after meeting Russian President Vladimir Putin.
Foreigners are set to take over several French blue chip firms this year and will largely do what they want with their prizes - showing the limits of new laws passed in the name of "economic patriotism".
Greece offered some concessions on Friday on reforms demanded by international lenders in return for new funding before Athens runs out of money, but euro zone creditors said negotiations needed to speed up to get a deal by June.
The euro hit a two-week high against a soft dollar on Friday, supported by a rise in a key German business sentiment survey and hopes that cash-strapped Greece was making tentative progress toward securing fresh funding.
HSBC Holdings (HSBA.L), Europe's biggest bank, said it has started a review of whether to move its headquarters out of Britain following regulatory and structural changes in the industry.
Global equity markets rode to new all-time highs on Friday, with positive corporate updates in Europe and a post-dotcom-boom peak for the U.S. Nasdaq stoking investor optimism.
Greek Prime Minister Alexis Tsipras called for a speeding up of the process to conclude a reform-for-cash deal with euro zone creditors after talks with German Chancellor Angela Merkel on Thursday, a Greek official said.
Telecoms equipment maker Ericsson (ERICb.ST) reported a surprise fall in profits on Thursday as infrastructure spending by mobile network operators in its key North American market remained sluggish and fierce competition pressured margins elsewhere.
German carmaker Volkswagen (VOWG_p.DE) is considering cooperating with China's Great Wall (601633.SS) on a new budget model, Germany's Manager Magazin reported on Wednesday, citing company sources.
