Aster DM Healthcare Ltd. is close to finalizing a deal to merge with Quality Care India Ltd., backed by Blackstone Inc., creating one of India's largest hospital chains. Shareholders of Aster are expected to own approximately 57% of the new entity, while Quality Care investors will hold 43%. An announcement could come as soon as Friday.
UBS shares rose 1.3% to CHF 28.04, trading 5.17% below their 52-week high of CHF 29.57. The company reported a quarterly EPS of CHF 0.39, a significant improvement from CHF -0.21 a year prior, despite a slight sales decline to CHF 18.86 billion. Analysts anticipate a dividend increase to USD 0.819 for 2024.
President Volodymyr Zelenskiy has enacted Ukraine's first wartime tax increases as the conflict with Russia continues into its 34th month. This legislation marks a significant step in the country's economic response to the ongoing war.
Renault SA is expanding its electric vehicle operations in China, a market where it currently does not sell cars, to enhance its EV technology and production speed. The French automaker has hired around 200 employees in Shanghai, primarily hardware engineers, to develop a sub-€20,000 electric Twingo, with plans to recruit software engineers as well.
R2, a Latin American startup focused on lending tools for tech companies, has secured $59 million in equity and debt to expand its operations, particularly in Chile. The funding includes a $9 million Series A extension led by Hi Ventures and Cometa, with participation from Y Combinator and Google’s Gradient Ventures. Additionally, a credit line of up to $50 million has been obtained from Community Investment Management for lending activities in Chile.
Läderach is enhancing its brand identity with redesigned packaging and a new store concept being tested in Zurich, Miami, and Shanghai, aiming to solidify its premium status. The company recently opened its 200th chocolaterie in London and is forecasting over 15% sales growth for 2024, driven by international expansion and a new production facility set to launch in summer 2025.
Thomas Stucki, Head of Investment at St.Galler Kantonalbank, remains optimistic about the US economy and equities, while expressing concerns about Germany's economic outlook. He anticipates no recession, low interest rates, and a gradual recovery in Europe, driven by Spain's economy. Stucki advises caution with emerging markets and suggests a small allocation to gold for security.
Since May 28, US stock trades have shifted to a one-day settlement period, enhancing the speed of ownership transfer and payment. This change has prompted global banks and investors to adapt their post-trade systems, particularly challenging for those in markets still adhering to a two-day standard. Historically, the transition from physical stock certificates to automated transactions was driven by a surge in trading volume in the late 1960s, leading to the establishment of a central clearinghouse by the New York Stock Exchange.
Mexican President Claudia Sheinbaum warned that proposed U.S. tariffs could lead to significant job losses in the U.S. and retaliatory measures from Mexico. Economy Minister Marcelo Ebrard emphasized the need for regional cooperation, stating that tariffs would harm both economies, particularly the automotive sector, which heavily relies on cross-border trade. Analysts view the tariff threats as a negotiating tactic rather than a firm trade policy.
Norsk Hydro shares rose over 3% in London following the company's 2024 Capital Markets Day, where UBS reaffirmed its Buy recommendation with a target price of NOK 85. While the event delivered mixed news, it provided encouraging insights on capital allocation and minority dividends.