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controversy surrounds ermotti's salary as he leads new ubS integration

Sergio Ermotti's 2023 salary of 14.4 million francs has sparked significant controversy in Switzerland, with critics questioning the justification for such high compensation. Reflecting on his humble beginnings as an apprentice earning 350 francs, Ermotti argues that high salaries in finance receive disproportionate scrutiny compared to those in sports and entertainment. He emphasizes the strength of UBS post-Credit Suisse acquisition, asserting that the bank's substantial capital reserves ensure stability and mitigate taxpayer risk, while also addressing concerns about competition and regulatory measures.
Libera TV
Swiss Franc Credit Suisse High Yield Bond Fund, Inc. CHE Thierry Burkart Sergio Ermotti
Finance & Economy, News Article
12:15 30.12.2024

DAX 40 outlook focuses on China data amid New Year's trading restrictions

Investors are expected to remain cautious on the last trading day of the year, with trading in Frankfurt ending early at 14:00. Key economic data from China, including the PMI indices, will be closely monitored, alongside US unemployment claims and the ISM manufacturing index later in the week. The DAX is projected to gain around 20% for the year, influenced by interest rate changes and the AI sector's growth.
IG
Euro Chinese Yuan United States Dollar DAX P CHN DEU USA Donald Trump Show more
Finance & Economy, Market Report
12:02 30.12.2024

shareholders approve merger of radicant and numarics to form radicant holding

Shareholders have approved the merger of BLKB subsidiary Radicant with Numarics, aiming to create a fully integrated offering for private customers and SMEs in banking, financial investments, and administration. The new entity will operate as Radicant Holding AG, led by Anton Stadelmann as CEO, with Marco Primavesi continuing as Chairman of the Board. Venture capital firms including Founderful, FiveT, Seed X, Davidson Capital, and UBS are also involved in the newly formed company.
finanzen.ch
CHE Marco Primavesi Anton Stadelmann
Finance & Economy, Press Release
12:00 30.12.2024

Migros Pension Fund announces 7.5 percent interest rate for 2025

The Migros Pension Fund has announced a remarkable interest rate of 7.5 percent for 2025, benefiting its 80,500 insured members, including employees and pensioners. This follows a strong investment year that boosted the fund's coverage ratio to approximately 135 percent, despite a previous loss linked to Credit Suisse. For every CHF 100,000 in retirement assets, members will earn CHF 7,500 in interest.
Nau
Swiss Franc CHE
Finance & Economy, News Article
11:58 30.12.2024

ubs maintains buy rating and price target for deckers outdoor

UBS analyst Jay Sole has reaffirmed a Buy rating for Deckers Outdoor (NYSE: DECK) with a price target set at $232.00. The positive outlook reflects confidence in the company's performance, particularly regarding its Hoka brand.
StreetInsider.com
United States Dollar Deckers Outdoor Corp USA Jay Sole
Finance & Economy, Market Report
11:57 30.12.2024

ubs maintains buy rating on netflix citing growth in sports and advertising

UBS has reaffirmed a Buy rating on Netflix, raising its price target to $1,040, citing growth potential in sports and advertising. The streaming service has seen an 86.4% return this year and recently attracted 24 million viewers for NFL Christmas Day games, positioning it well for future sports rights acquisitions. Analysts predict continued revenue growth, with Netflix's subscriber base significantly outpacing traditional TV, despite some mixed ratings from other firms.
Investing.com
Netflix, Inc. USA
Finance & Economy, Market Report
11:49 30.12.2024

Sergio Ermotti outlines ambitious plans following Credit Suisse integration

Sergio Ermotti, CEO of UBS, views the integration of Credit Suisse as merely the beginning of a broader expansion strategy. Despite the accolades he has received, including "European Banker of the Year," he remains aware of the pitfalls that have historically befallen his predecessors in the banking industry.
Börsen-Zeitung
Credit Suisse High Yield Bond Fund, Inc. CHE DEU Josef Ackermann Peter Wuffli Marcel Ospel Sergio Ermotti Show more
Finance & Economy, News Article
11:47 30.12.2024

ubs ceo sergio ermotti defends mega salary amid criticism and challenges

Sergio Ermotti, CEO of UBS, faces criticism for his 14.4 million franc salary amid ongoing integration of Credit Suisse. He defends his compensation by highlighting his understanding of money's value and asserts that UBS is financially stable enough to prevent taxpayer losses in a crisis. Ermotti emphasizes the bank's competitive landscape and its significant contributions to Switzerland, while advocating for targeted regulation to maintain the financial center's strength.
Blick
Swiss Franc Credit Suisse High Yield Bond Fund, Inc. CHE Thomas Minder Thierry Burkart Sergio Ermotti Show more
Finance & Economy, News Article
11:00 30.12.2024

ubs maintains neutral rating on vipshop amid mixed sales forecasts

UBS maintains a Neutral rating on Vipshop, setting a $15.00 price target, as the company anticipates a less severe fourth-quarter revenue decline of 7.4%, better than consensus estimates. Despite a challenging retail environment, positive trends in apparel sales and strategic initiatives are expected to support revenue. Analysts from Jefferies remain optimistic, while Benchmark holds a cautious stance amid revenue growth challenges.
Investing.com
United States Dollar Vipshop Holdings Ltd CHN Joe Biden Wei Xiong
Finance & Economy, Market Report
10:51 30.12.2024

ubs ceo warns against stricter banking regulations in switzerland

UBS CEO Sergio Ermotti has cautioned against broad banking regulation in Switzerland, advocating for targeted measures instead. He likened a general tightening to reducing speed limits due to a single reckless driver, warning that excessive rules could weaken the financial center. While expressing satisfaction with the integration of Credit Suisse, he highlighted challenges, particularly in merging IT systems, and criticized superficial discussions about big banks that could lead to harmful decisions.
FAZ.NET
Swiss Franc Credit Suisse High Yield Bond Fund, Inc. UBS Group AG CHE Sergio Ermotti
Finance & Economy, News Article
10:41 30.12.2024
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