UBS has reduced its price target for Vestas Wind Systems from 245 to 175 Danish crowns while maintaining a "buy" rating. Analyst Supriya Subramanian cited disappointing margins in recent quarters and the impact of the US presidential election as factors influencing the share price, alongside a significant cut in earnings forecasts for 2024 to 2026.
07:13 28.11.2024
Thailand’s stock exchange is set to implement artificial intelligence tools to enhance the oversight of listed companies amid increasing corporate fraud. The initiative aims to swiftly identify irregular share price movements and trading activities, thereby restoring investor confidence that has been undermined by late warnings and delayed enforcement.
SIX announces a leadership change as CEO Jos Dijsselhof departs for a new opportunity in the Middle East, effective January 1, 2025. He will be succeeded by Bjørn Sibbern, currently Global Head Exchanges, who has a background with Nasdaq and E*TRADE. Dijsselhof will remain until February 2025 to ensure a smooth transition.
JPMorgan Private Bank forecasts that developed markets will outperform emerging market equities in 2025, despite strong economic growth in regions like India, Taiwan, Indonesia, and Mexico, which are expected to yield solid returns. The bank notes that while emerging economies have averaged a nominal GDP growth of 4.3% since 2009, many domestic companies, particularly in China, have struggled with stagnant profits. Key investment factors include a robust private sector, higher EPS returns, and strong export industries, with India leading in earnings growth at 296% from 2009 to 2024.
Karnataka RERA has mandated Ozone Group to repay a homebuyer's home loan, clearing all associated liabilities. The developer was responsible for covering the pre-EMI payments on the loan until the buyer received possession of the apartment or the buyback period concluded.
Tilaknagar Industries has launched Monarch Legacy Edition, its first luxury brandy, marking a significant entry into the premium segment. This 100% pure grape brandy blends French and Indian spirits, aged up to 8 years, and is priced at Rs 6,750 for a 750 ml bottle. The company aims to elevate Indian brandy to a global standard, reflecting its rich heritage and expertise in the industry.
The financial sector in Switzerland generated nearly CHF 74 billion in gross value added in 2023, accounting for about 10% of the economy and employing 240,000 people. Despite its significance, job cuts are anticipated in banking due to the integration of Credit Suisse into UBS, while insurance and other financial services are expected to see moderate job growth. Notably, banking services led service exports, surpassing tourism, but growth is hindered by challenging EU market access.
07:00 28.11.2024
Switzerland's prosperity is not guaranteed, as evidenced by Germany's decline when key factors are neglected. Companies prioritize stability over government intervention, seeking to navigate challenges like skilled labor shortages and regulations that hinder flexibility. A recent survey highlights the critical need for a stable economic environment to foster dynamism and investment.
07:00 28.11.2024
Jeremy Coller, a prominent UK private equity founder, has appointed Sara Macedo as the first CEO of his family office, Coller Holdings. This move marks a significant step as Coller expands his investments beyond his namesake firm, with Macedo joining in September.
The finance ministry is evaluating a proposal from the petroleum ministry to include natural gas under the Goods and Services Tax (GST) as part of tax structure reforms. Additionally, there are considerations regarding the repeal of the windfall tax on oil and gas companies, prompted by declining oil prices. An official decision is anticipated soon.
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