SQUAWK BOX, TUESDAY 25TH OCTOBER, 2022

UBS suffers a 24 per cent drop in net profit but an improvement in net interest income as the bank navigates macro-economic headwinds going into the fourth quarter. HSBC posts a better-than-expected Q3 earnings despite rising impairments. Rishi Sunak becomes UK prime minister urging the Conservative party to ‘unite or die’. In tech news, Chinese tech loses $55bn on a single day on Wall Street as investors signal concerns about President Xi Jinping’s unprecedented third term.