HSBC Holdings Plc is scaling back its credit card operations in China after struggling to achieve profitability since launching the service eight years ago. The bank has ceased issuing new cards and plans to wind down services for many customers, particularly standalone credit card clients who do not utilize other HSBC banking services, who will not have their cards renewed upon expiry.
Stellaris, an investor in Mamaearth, has successfully raised $300 million for its third fund. The capital will be allocated to various strategic investments, enhancing the firm's portfolio and supporting growth initiatives.
Günther Felßner, President of the Bavarian Farmers' Association, advocates for a significant shift in Germany's agricultural policy, emphasizing the need to bolster domestic production and animal husbandry. He outlines four key pillars for future policy: food security, renewable energy supply, bioeconomy, and natural resource protection, while calling for fair trade agreements and reduced bureaucracy. Bavaria's Agriculture Minister Michaela Kaniber supports Felßner's vision, highlighting the importance of addressing farmers' concerns and fostering competitiveness within the agricultural sector.
08:11 29.11.2024
South Africa assumes the G20 presidency on Sunday, marking a historic first for an African nation. The leadership will prioritize inclusive growth and climate change, but faces challenges from ongoing trade wars and diplomatic tensions that could complicate these goals.
The Ministry of Finance is seeking comments on proposed amendments to key insurance laws, aiming to raise the foreign direct investment (FDI) cap in the sector from 74% to 100%. The draft bill, expected to be presented in the ongoing winter session of Parliament, also includes provisions for composite licenses for insurers and relaxed norms for foreign reinsurers. These changes are designed to enhance accessibility and affordability of insurance, supporting the government's goal of "Insurance for all by 2047."
UBS has maintained a "Neutral" rating for Apple, setting a price target of $236. Analyst David Vogt noted disappointing inventory sell-off rates for the new iPhone in October, suggesting that if sales do not improve significantly post-Thanksgiving, December quarter sales estimates may be overly optimistic by five percent.
08:09 29.11.2024
Zee Entertainment Enterprises Ltd. saw its shares rise by 7.8%, the highest increase in over five weeks, after shareholders voted against the re-appointment of Punit Goenka, the founder’s son and CEO, as a board director. The company reported that 50.46% of the votes cast were against Goenka's reappointment, reflecting investor sentiment.
UBS has maintained a "Neutral" rating for Rational, setting a target price of 890 euros. Analyst Olivier Calvet noted that it's premature to establish medium-term targets for the new iHexagon appliance, which combines features of a combi-steamer and high-speed oven, despite its advantages over the iCombi. Rational shares have risen 64% since their initial recommendation.
08:07 29.11.2024
Cipla has been upgraded to a 'Buy' rating with a target price of Rs 1,730, reflecting a valuation of 27x FY27E EPS. The recent VAI classification of its Goa facility by the USFDA is expected to facilitate the launch of gAbraxane, while the domestic market is set to recover despite a dip in US sales due to gLanreotide supply issues. Cipla's strong net cash position of $1 billion allows for strategic M&A opportunities, and the company is poised for several high-value launches in FY26E and FY27E.
UBS has maintained its "Buy" rating for Gerresheimer, setting a target price of 132 euros. Analyst Olivier Calvet noted that study data on Novo Nordisk's weight-loss drug CagriSema could significantly impact Gerresheimer, positioning it favorably against competitors like Ypsomed.
08:04 29.11.2024

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