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NetSuite by Oracle. Go to NetSuite.com slash Wall Street. That's NetSuite.com slash Wall Street.

UBS hires a former CEO to steer the credit suites takeover. Plus Lockheed Martin bets on the

stars and Beijing takes a new tact on tech. Top officials have been quite busy sending messages

to reassure private firms, both Chinese and multinationals. That China is open to business,

it is supporting to private sector. It's Wednesday, March 29th. I'm Luke Vargas with the Wall Street

Journal and here is the AM edition of What's News, the top headlines and business stories moving

your world today. UBS is bringing on a former CEO to head up the bank. The Swiss banking

giant is tapping former leader Sergio Armardi to return as CEO and replace current chief Ralph

Armardi will have a lot on his plate after UBS agreed to take over longtime rival credit

Swiss earlier this month, a deal that will require it to integrate its operations and decide which

divisions to downsize on top of reassuring clients, employees, and investors. Armardi who

previously ran UBS for nine years described that task as urgent and challenging. He'll take over

April 5th. Crypto Exchange Binance is shedding deposits by the billions. According to crypto data

provider Nansen, as of Monday evening, traders had pulled $2.1 billion from Binance's Ethereum

blockchain over the preceding week. Nansen said that Binance still has more than $63 billion in

publicly disclosed wallets. However, journal reporter Julie Steinberg says those withdrawals come

as Binance deals with the host of other issues. This is happening after the commodity futures

trading commission sued Binance on Monday, alleging it operated illegally in the U.S. and violated

rules designed to prevent illicit financial activity. Investors and analysts are also monitoring

for more regulatory action against Binance in the coming months. From the U.S. or perhaps elsewhere,

...