U.S. Treasury yields increased as investors reacted to a weaker-than-expected jobs report, with the 10-year yield rising to 4.2090% and the 2-year yield to 4.1502%. Attention is now on the upcoming initial jobless claims data and November's nonfarm payrolls report, following an ADP report indicating private payrolls grew by only 146,000, below the anticipated 163,000.
The Friedkin Group is negotiating with JPMorgan Chase & Co. to raise debt aimed at restructuring Everton FC's significant loans, which exceed £660 million ($840 million). This move is expected to alleviate interest payments and extend the repayment period, improving the club's financial stability.
The luxury goods industry is experiencing a significant slowdown, largely due to weakened consumption in China. A UBS study reveals that the contribution of Chinese consumers to the sector's growth has dwindled, accounting for only 10% from 2019 to 2023, compared to 44% from 2008 to 2015.
11:13 05.12.2024
In a volatile session on December 5, the Indian equity market closed higher, with Nifty surpassing 24,700 for the fifth consecutive session, driven by broad-based buying except in the realty sector. The Sensex rose by 809.53 points to 81,765.86, while Nifty gained 240.95 points to close at 24,708.40. Key gainers included TCS, Infosys, and Titan Company, while SBI Life Insurance and Bajaj Auto were among the notable losers, as investors remained cautious ahead of the Reserve Bank of India's policy announcement.
Banque Heritage has appointed three new relationship managers in Geneva and Zurich to enhance customer relations. Ksenija Benaroche brings over 15 years of private banking experience, while Marija Sarenac has nearly 20 years in wealth management with notable firms. Clara Bulgheroni offers expertise in family office and private banking, having worked with Falcon Group and Credit Suisse.
11:12 05.12.2024
A UBS study reveals that the number of billionaires surged by 50% over the past decade, reaching 2,682 in April 2024, with their total wealth more than doubling to $14 trillion. Tech billionaires led this growth, tripling their wealth to $2.4 trillion, driven by advancements in industries like AI and robotics. Looking ahead, 40% of billionaires plan to invest more in real estate and equities, while others are considering safe havens like gold amid rising geopolitical risks.
The National Council has approved the federal budget for 2025 with a vote of 120 to 73 after extensive debate. The budget includes significant increases for the armed forces, funded by cuts of CHF 250 million in foreign aid, which faced opposition from left-wing parties. The Council of States will review the budget next, proposing a different approach to military spending.
Germany's decision to phase out nuclear power in April 2023 coincided with a severe energy crisis exacerbated by Russia's invasion of Ukraine, which significantly increased energy prices. Despite the challenges, a new analysis indicates that a return to nuclear power could be financially viable for the country.
Indian equity markets rebounded on December 5, with the Sensex rising 809.53 points to 81,765.86 and the Nifty up 240.95 points to 24,708.40, driven by strong FII inflows and positive global sentiment following comments from US Federal Reserve Chairman Jerome Powell.Central Depository Services (CDSL) shares hit an all-time high, gaining 8%, while the Nifty IT index rose 2% amid optimism for US tech stocks. In contrast, Genus Power fell 5% after a search by enforcement officials, and Divi's Laboratories dropped 3% due to patent issues affecting a key drug.
NBCC Ltd's subsidiary, HSCC (India) Ltd, has secured work orders totaling Rs 599.35 crore from the National Health Mission in Maharashtra. The first order, valued at Rs 259.35 crore, involves establishing and operating the Hinduhridaysamrat Balasaheb Thackery Aapla Dawakhana, while the second contract, worth Rs 340 crore, focuses on setting up Radiation Oncology Units in various districts.
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