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[ad_1] General view of the UBS building in Manhattan on June 5, 2023 in New York City. Eduardo Munoz Alvarez | View Press | Corbis News | Getty Images UBS on Thursday posted a second-quarter profit of $28.88 billion in its first quarterly earnings since Switzerland's largest bank completed its takeover of stricken rival Credit Suisse . Analysts had projected a net profit of $12.8 billion for the three months to the end of June, according to a Reuters poll. UBS said the result primarily reflected $28.93 billion in negative goodwill on the Credit Suisse acquisition. Underlying profit before tax, which excludes negative goodwill, integration-related expenses and acquisition costs, came in at $1.1 billion. Negative goodwill represents the fair value of assets acquired in a merger over and above the purchase price. UBS paid a discounted 3 billion Swiss francs ($3.4 billion) to acquire Credit Suisse in March. "Two and a half months since closing the Credit Suisse acquisition,

[ad_1] Drone warfare in Bakhmut An Ukrainian serviceman attaches a hand grenade to use in an attack, near Bachmut, in the region of Donbas. An Ukrainian serviceman attaches a hand grenade on a drone to use in an attack, near Bachmut, in the region of Donbas, on March 15, 2023.  Aris Messinis | AFP | Getty Images An Ukrainian serviceman attaches a hand grenade on a drone to use in an attack, near Bachmut, in the region of Donbas, on March 15, 2023.  Aris Messinis | AFP | Getty Images — Aris Messinis | AFP | Getty Images Russia ambassador says Moscow will "no longer allow anyone to break into its waters" Russia's Ambassador to the U.S. Anatoly Antonov appeared to blame the U.S. for the downing of a U.S. drone over the Black Sea on Tuesday that the U.S. military blamed on the "reckless" and "unsafe" behavior of Russian fighter jets. Mark Wilson | Getty Images News | Getty Images Russia's Ambassador Anatoly Antonov said that Moscow will "no l

[ad_1] Moscow's combat position in the war in Ukraine will not be impacted by the loss of troops belonging to Russian paramilitary group Wagner, according to a senior Russian defense official. Wagner forces were integral to Moscow's advance in Kyiv before the group staged an attempted insurrection at the end of last month, damaging relations with the Kremlin's top military brass irreconcilably. The failed rebellion propelled Wagner leader Yevgeny Prigozhin into exile in Belarus and the militia group said it has now suspended recruitment as it relocates to the country. Members of Wagner group looks from a military vehicle in Rostov-on-Don late on June 24, 2023.  Roman Romokhov | AFP | Getty Images Elsewhere, a new center for the prosecution of aggression in Ukraine opens on Monday, bolstering the capabilities of the Dutch-based International Criminal Court, which is limited in its mandate to pursue crimes of aggression. The ICC already has open warrants for Russian Pres

[ad_1] Ukrainian parliament member gives thanks after UK defense minister urges more gratitude from Kyiv Ukrainian parliament member Oleksiy Goncharenko on Twitter thanked British Defense Minister Ben Wallace, a day after the U.K. politician urged Kyiv to show more gratitude to invite further donations from Western politicians. "I want to say that we are really grateful to @BWallaceMP for everything he has done for Ukraine. The United Kingdom has always supported us, they are one of our most important allies. They helped us with weapons (a lot of weapons) and provided humanitarian aid. Unfortunately, such words were said yesterday. But Ben Wallace did a lot for our country," Goncharenko said. British Defence Secretary Ben Wallace. Ian Forsyth | Getty Images News | Getty Images The U.K. has been a steadfast supporter and aid supplier for Kyiv since Russia's full-fledged invasion of Ukraine last year. "Whether we like it or not, people want to see gratitude,&quo