Rachel Reeves’ Tax-Raising UK Budget, UBS Posts Q3 Profit Surge | The Opening Trade 10/30 (Correct)

UK Chancellor of the Exchequer Rachel Reeves has set the stage for one of the UK’s biggest-ever tax-raising events — adding to an already elevated tax burden which her Conservative predecessors took to the highest level as a share of economic output since World War II.  UBS posted a surge in profit for the third quarter, adding to evidence that the bank’s integration of Credit Suisse is on track. The bank warned that geopolitical risks, the Nov. 5 US election and declining global interest rates would make the final quarter of the year hard to predict. The Opening Trade has everything you need to know as markets open across Europe. With analysis you won’t find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Anna Edwards and Tom Mackenzie. (Corrects VW segment to remove erroneous margin comparison.)

Chapters:
00:00:00 – Intro
00:01:20 – The Agenda: UBS Earnings, UK Budget, Google/US Tech
00:03:47 – UBS CEO Ermotti on US Election
00:15:38 – UK Budget: Tax Burden Headed for Postwar High
00:26:34 – Pell Hunt CEO on Rachel Reeves’ Tax Hikes, Borrowing Costs
00:36:06 – Stocks to Watch: UBS, VW, Chip Stocks
00:48:39 – European Market Open
01:05:54 – Volkswagen Earnings, EU EV Tariffs in Focus
01:14:42 – Former UK Chancellor Phillip Hammond on UK Budget
01:26:08 – Fincantiori CEO Says NATO Will Withstand Donald Trump
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