ELIZA BLEU AND THE PERPETUAL TRAUMA MACHINE—PART 2

UBS CEO Warns Swiss Population Cap Is An 'Extreme' Measure A proposal headed for a June 14 vote in Switzerland made headlines for seeking to place a hard cap on the country's permanent resident population at 10 million through 2050. The vote is also being watched as a referendum on immigration pressure in Europe more broadly. UBS CEO Sergio Ermotti has caught the vapors over the idea, describing it as an "extreme" measure that fails to address the country's underlying challenges. UBS CEO Sergio Ermotti (photo: Chiara Zocchetti ) "I do worry about these...

Tether's USDT Jumps To 8.5% Premium In India After Crypto Payment Crackdown Authored by Shaurya Malwa via CoinDesk.com, Raids on crypto payment firms in Bengaluru disrupted the pipeline that feeds dollar-pegged USDT to Indian platforms, pushing its local price more than 8.5% above the dollar, roughly double the usual gap. The price of Tether's USDT, the largest dollar-pegged stablecoin, has climbed to more than 8.5% above its dollar value on Indian platforms after a government crackdown on crypto payment firms choked off the token's supply into the country. USDT traded around 102.88 rupees over the...

UBS Warns America's Restaurants Locked In "Difficult Cycle" As Tax-Refund Sugar-High Fades There is certainly a growing consensus on Wall Street that the tax-refund sugar high is fading just as consumers' financial profiles deteriorate. The latest read-through comes from UBS analyst Dennis Geiger, the bank's U.S. restaurants equity research analyst, who warns that a toxic cocktail of macro pressures is likely to crimp restaurant spending in the second half of the year. Geiger warned in a note that elevated gas prices at the pump appear to be offsetting tax-rebate benefits, while...