France faces a potential humiliation in financial markets as budget chaos escalates. Meanwhile, the UK grapples with rising inflation, complicating the new Labour government's economic challenges. The euro and pound have fallen sharply following Trump's victory, impacting various sectors differently.
Banks are set to forfeit approximately €220 million ($232 million) in underwriting fees after Brookfield Asset Management withdrew its bid to take Grifols private. Around a dozen major lenders had been engaged for nearly six months in arranging a leveraged loan and bond financing package totaling about €11 billion.
Morrow Batteries AS is in a critical situation as it awaits approval for 1.5 billion kroner ($135 million) in government funding, essential for attracting investors. The company, which recently launched its first lithium-iron phosphate battery factory in Norway, is facing uncertainty following the bankruptcy of Northvolt, a larger competitor, which has raised concerns for European battery manufacturers amid increasing Chinese market dominance.
The Swiss Federal Criminal Court has acquitted UBS of money laundering charges linked to the Bulgarian mafia, a case inherited from Credit Suisse. In 2022, Credit Suisse was fined CHF2 million for failing to prevent crime syndicate profits from cocaine trafficking. Additionally, the sentences of two defendants were reduced on appeal.
13:55 27.11.2024
The Swiss Federal Criminal Court has acquitted UBS of money laundering charges linked to the Bulgarian mafia, a case inherited from Credit Suisse. In a previous ruling, Credit Suisse was fined CHF2 million for failing to prevent money laundering related to a drug trafficking operation. Additionally, the sentences of two defendants were reduced on appeal.
The Central Bank of Nigeria has implemented a cautious quarter-point interest rate hike, marking the smallest increase this year. This decision, part of a two-year tightening cycle that has seen rates more than double to 27.5%, has led some economists to speculate that the cycle may be coming to an end.
Coca-Cola shares have rebounded from a 15% correction, finding support around $62 after mixed Q3 results and concerns over consumer purchasing power. Despite a slight earnings beat, sales volumes fell 1% due to rising prices. Analysts remain optimistic, with a price target of $75, indicating a potential 15% upside. The risk/reward ratio favors buyers above $62, aiming for a rebound to $73, while a drop below this support could signal further declines.
IG
13:42 27.11.2024
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