Raiffeisen Bank International (RBI) has finalized the sale of its Belarusian subsidiary, Priorbank JSC, to Emirati Soven 1 Holding, marking its complete exit from the Belarusian market. The transaction, which received the necessary official approvals, will impact this year's consolidated results by approximately EUR 830 million. No purchase price has been disclosed.
DS Smith PLC has seen a shift in its shareholder structure as UBS Group AG has increased its stake to 6.02% of the company's voting rights. This change results from a combination of direct shareholding and financial instruments, indicating UBS's growing influence in the company's governance. Investors may find this development noteworthy as it underscores UBS's strategic positioning within DS Smith.
UBS has raised its target price for British American Tobacco (BAT) from 2800 to 3000 pence while maintaining a "Neutral" rating. Analyst Faham Baig noted the positive impact of recent investments showcased at the company's capital markets day, although the dynamic market environment may prompt discussions about reducing its stake in ITC.
UBS has raised its target price for British American Tobacco (BAT) to 3000 pence, maintaining a 'Neutral' rating. Investors are cautioned about the significant risks associated with trading financial instruments and cryptocurrencies, which can lead to substantial losses. It is advisable to seek independent financial advice before engaging in such trading activities.
Eevia Health, a Finnish herbal extract company, has unveiled a new strategic plan that includes a turnaround program and revised financial targets. The company aims for sales of 3 million euros and an EBITDA of 0.1 million euros in 2025, increasing to 5 million euros in sales and 1 million euros in EBITDA by 2026.
Lion Electric Co., the Canadian electric truck and bus manufacturer, faces a critical deadline this weekend to secure new investors amid a cash shortage and a challenging EV market. The company has received a two-week extension on its credit agreement with three lenders and temporary relief on loan conditions from the Caisse de Depot et Placement du Quebec and Finalta Capital Inc.
Mexico’s President Claudia Sheinbaum is optimistic about avoiding the 25% tariffs threatened by US President-elect Donald Trump. After a phone conversation with Trump, she expressed confidence in reaching a collaborative agreement to address concerns over migration and drug trafficking, asserting that Mexico will not subordinate itself to the US.
UBS is navigating a dual role in the Swiss equity market by first facilitating activist investor Cevian and now advising Baloise, which is facing pressure from this activist. The bank's significant fund holdings position it uniquely within the ongoing developments.
UBS has increased its target price for British American Tobacco (BAT) from 2800 to 3000 pence while maintaining a "Neutral" rating. Analyst Faham Baig noted the positive impact of recent investments showcased at the company's capital markets day, although the dynamic market environment may reignite discussions about reducing its stake in ITC.
The Bank of Russia announced that no emergency measures are necessary to stabilize the ruble, as existing policies are sufficient. The currency experienced a decline following US sanctions on over 50 lenders, including Gazprombank, which led to the central bank suspending foreign currency purchases under the budget rule, allowing the ruble to recover some losses amid speculation of a potential key rate increase.