UBS Group AG has adjusted its voting rights in DS Smith PLC, now holding 5.92% of the total voting rights, indicating a slight reduction from their previous stake. This strategic shift may influence DS Smith’s stock performance, warranting close attention from investors.
13:32 28.11.2024
Australia has enacted a groundbreaking law banning social media for children under 16, setting a global precedent in regulating Big Tech. The legislation, which mandates age-verification measures, received bipartisan support and is set to take effect in November 2025. Companies like Facebook and TikTok face hefty fines for non-compliance, highlighting the government's commitment to protecting children's mental and physical health.
Information Security Media Group (ISMG) has acquired a majority stake in Pune-based Payatu Technologies, the parent company of the cybersecurity conference Nullcon, for an estimated Rs 70 crore to Rs 90 crore. This partnership aims to elevate Nullcon's grassroots community to a global platform, enhancing the accessibility of cybersecurity research and its implications for strategic decision-making in businesses. Co-founders Antriksh Shah, Aseem Jakhar, and Murtuja Bharmal will continue to lead the conference's expansion in India and beyond.
France's political turmoil has driven its borrowing costs to match those of Greece for the first time, with 10-year government bond yields nearly equal at 3.0010% and 3.030%, respectively. Prime Minister Michel Barnier faces a potential no-confidence vote from the left-wing New Popular Front alliance, which threatens to destabilize his minority government as it struggles to pass a budget aimed at reducing a significant deficit. Despite reassurances from officials about France's economic strength compared to Greece, concerns persist over the country's fiscal health, with a projected budget deficit of 6.1% in 2024 and public debt exceeding 110% of GDP.
Kazakhstan's central bank is intervening in the market to address the tenge's decline, which has reached its lowest point since March 2022. Officials aim to prevent destabilizing fluctuations, ensure a stable foreign-currency supply, and restore a fair exchange rate. The National Bank is prepared to continue these interventions to maintain normal currency market operations.
The EuroStoxx 50 is poised for a potential rebound as bond yields decline, despite recent challenges from China's economic issues and US tariff threats. Currently at around 4,700 points, the index presents an attractive buying opportunity, with resistance at 5,050 points and support at 4,650 points. Future performance will hinge on the global economic outlook and upcoming political developments in Europe.
IG
13:23 28.11.2024
K Raheja Investment Managers has settled allegations of violating SEBI norms by paying Rs 68.73 lakh. The allegations included errors in calculating Net Distributable Cash Flows (NDCF) at the Special Purpose Vehicle (SPV) level, incorrect disclosures in reports, and improper fund distributions despite negative cash balances. The settlement order was issued on November 28.
On November 28, 2024, Berner Kantonalbank's share price decreased by 0.80% to EUR 249.00. Despite this decline, the stock has shown positive trends over the past month and year, with gains of 1.41% and 2.26%, respectively. The bank, valued at EUR 2.3 billion, maintains a price/earnings ratio of 13.27, indicating its solid position as a leading regional bank in the canton of Berne.
13:14 28.11.2024
The Competition Commission of India (CCI) has initiated a probe into Google following a complaint from gaming company WinZO, alleging anti-competitive practices. The complaint claims Google is abusing its dominant position by favoring certain real-money games, restricting market access, and imposing misleading warnings during app downloads. The CCI has directed an investigation to be completed within 60 days.
UBS analyst Jay Sole has raised Nordstrom's price target to $14.50 from $13 while maintaining a Sell rating. The retailer is expected to struggle against off-price competitors and direct-to-consumer brands, leading to potential share losses and downward revisions in earnings per share over the coming years.
13:10 28.11.2024
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