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UBS blames Credit Suisse acquisition as it delays climate targets by a decade

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UBS blames Credit Suisse acquisition as it delays climate targets by a decade

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UBS has pushed back a target to cut its greenhouse emissions to net zero by a decade, blaming its acquisition of crosstown rival Credit Suisse for the delay.

The Swiss bank revised its target to decarbonise its own operations from 2025 to 2035, according to a disclosure in its latest sustainability report published on Monday.

UBS said the delay reflected its “enlarged corporate real estate portfolio” following the state-orchestrated takeover of Credit Suisse in 2023. The bank previously said it would take a $400mn hit from real estate costs tied to its acquisition of its defunct rival.

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The move comes after HSBC also pushed back its timeline to decarbonise its own operations last month, delaying its own target by 20 years to 2050.

Banks and other large companies have been reassessing their commitment to climate goals following Donald Trump’s election as US president in November.

Several Wall Street lenders, including JPMorgan, Goldman Sachs and Citigroup, have quit the world’s largest climate alliance for banks in recent months.

UBS remains a member of the Net-Zero Banking Alliance, whose members must commit to setting goals that align with a target to limit global warming to 1.5C above pre-industrial levels.

However, members of the group are set to vote in the coming weeks on whether to ditch the pledge and instead align with warming of up to 2C.

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UBS said in its latest sustainability report that its target for cutting emissions from mortgage lending to Swiss residential and commercial real estate was based on a global scenario in which the long-term average temperature could rise up to 2C from pre-industrial levels.

Sergio Ermotti, UBS’s chief executive, had previously said the Swiss lender was weighing up whether to follow US peers and leave the NZBA.

“It’s not credible to think that you can do it at the same pace and the same extent in every single country and region in the world,” Ermotti said at the World Economic Forum in Davos in January.

In its latest sustainability report, UBS removed a section on the “environmental, social and governance objectives in the compensation process” that appeared in the report in previous years. The bank also said there was “no direct link between senior management compensation and specific climate goals”.

However, executives still have an “environmental and sustainability” objective as part of their non-financial performance assessment, which includes “supporting clients’ activities related to the environment and sustainability”.

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The bank said the delay to its net zero target also reflected the “latest regulatory guidance”.

UBS is in the middle of a three-year integration of Credit Suisse, which involves migrating clients and integrating IT systems, a process that the bank expects will be completed in 2026.

UBS declined to comment.

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Woman killed in Atlanta Beltline stabbing identified

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Woman killed in Atlanta Beltline stabbing identified

Crime scene tape surrounds a bicycle in front of St. Lukes Episcopal Church in Atlanta on May 14, 2026. (SKYFOX 5)

The woman stabbed to death on the Beltline has been identified as 23-year-old Alyssa Paige, according to the Fulton County Medical Examiner.

The backstory:

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Paige was killed by a 21-year-old man Thursday afternoon while she was on the Beltline. Officials confirmed to FOX 5 that the stabbing happened near the 1700 block of Flagler Avenue NE.

Atlanta Police Chief Darin Schierbaum said the department was alerted around 12:10 p.m. that a woman had been stabbed just north of the Montgomery Ferry Drive overpass. She was rushed to Grady Memorial Hospital where she later died. Another person was also stabbed during the incident, but their condition remains unknown.

According to officers, the man responsible attacked a U.S. Postal worker prior to the stabbing before getting away on a bike. He then used that bike to flee the scene of the stabbing as well.

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The suspect was arrested near St. Luke’s Episcopal Church on Peachtree Street in Midtown around 5:25 p.m. 

What we don’t know:

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While officials haven’t released an official motive, they noted the man may have been suffering a mental health crisis.

The Source: Information in this article came from the Fulton County Medical Examiner’s Office and previous FOX 5 reporting. 

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Man Charged With Posting Bomb Instructions Used in New Orleans Attack

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Man Charged With Posting Bomb Instructions Used in New Orleans Attack

Federal prosecutors have filed charges against a former Army serviceman they accused of distributing instructions on how to build explosives that were used by a man who conducted a deadly attack in New Orleans on New Year’s Day last year.

The former serviceman, Jordan A. Derrick, a 40-year-old from Missouri, was charged with one count of engaging in the business of manufacturing explosive materials without a license; one count of unlawful possession of an unregistered destructive device; and one count of distributing information relating to manufacturing explosives, according to a criminal complaint unsealed on Wednesday. The three charges together carry a maximum sentence of 40 years in federal prison.

Starting in September 2023, the authorities said, Mr. Derrick was using various social media sites to share videos of himself making explosive materials, including detonators. His videos provided step-by-step instructions, and he often engaged with viewers in comments, sometimes answering their questions about the chemistry behind the explosives.

The authorities said that Mr. Derrick’s videos were downloaded by Shamsud-Din Bahar Jabbar, 42, who was accused of ramming a pickup truck into a crowd on Bourbon Street in New Orleans on Jan. 1, 2025, in a terrorist attack that killed 14 people and injured dozens. Mr. Jabbar was killed in a shootout with the police. Before the attack, Mr. Jabbar had placed two explosives on Bourbon Street, the authorities said, but they did not detonate.

The authorities later recovered two laptops and a USB drive in a house that Mr. Jabbar had rented. The USB drive contained several videos created by Mr. Derrick that provided instructions on making explosives. The authorities said the explosives they recovered were consistent with the ones Mr. Derrick had posted about.

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Mr. Derrick’s lawyers did not respond to requests for comment.

Mr. Derrick was a combat engineer in the Army, where he provided personnel and vehicle support, the authorities said. He also helped supervise safety personnel during demolitions and various operations. He was honorably discharged in February 2013.

The authorities did not say whether Mr. Derrick had any communication with Mr. Jabbar, or whether the men had known each other. In some of Mr. Derrick’s videos and comments, he indicated that he was aware that his videos could be misused.

“There are a plethora of uh, moral, you know, entanglements with topics, any topic of teaching explosives, right?” he asked in one video, according to the affidavit. “Of course, the wrong people could get it.”

The authorities also said that an explosion occurred at a private residence in Odessa, Mo., on May 4, and the occupant of the residence told investigators that he had manufactured explosives after watching online tutorials from Mr. Derrick.

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Mr. Derrick’s YouTube account had more than 15,000 subscribers and 20 published videos, the affidavit said. He had also posted content on other platforms, including Odysee and Patreon. Some videos were accessible to the public for free, while others required a paid subscription to view.

“My responsibility to my countrymen is to make sure that I serve the function of the Second Amendment to strengthen it,” Mr. Derrick said in one of his videos, according to the affidavit. “This is how I serve my country for real.”

Outside of the income he received through content creation, Mr. Derrick did not have any known employment. He did receive a monthly disability check from Veterans Affairs, the affidavit stated.

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The Girls: “This isn’t ringing alarms to y’all?” : Embedded

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The Girls: “This isn’t ringing alarms to y’all?” : Embedded
Allegations pile up, but Child Protective Services declines to investigate and the school district continues to promote Ronnie Stoner. We include an update at the end of the episode. “The Girls” is a 4-part series from the Louisville Public Media’s investigative podcast, Dig.
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