Masayoshi Son, the founder of SoftBank Group, is set to meet Indian Prime Minister Narendra Modi on Wednesday. Prior to this, he met Mukesh Ambani, chairman of Reliance Industries, to discuss potential artificial intelligence opportunities in India.
The International Monetary Fund has indicated that South Africa could reap significant economic benefits by adopting a lower inflation target. Transitioning from the current target band to a lower point target, if managed carefully, could help reduce inflation expectations. The IMF emphasizes that careful design and gradual implementation are essential to minimize potential short-term economic impacts.
A new financial center initiative mandates banks and insurers, including UBS and Zurich Insurance, to cease investments in fossil fuels. UBS invested approximately $9 billion in such projects in 2023, while Zurich has adopted new climate guidelines for oil and gas investments.
17:19 26.11.2024
Credit Agricole faces a challenge following UniCredit SpA's unsolicited bid for Banco BPM SpA, which was announced with minimal premium over the recent share price. Credit Agricole holds a 9.2% stake in Banco BPM and has an existing partnership with the bank in Italy.
UBS AG has maintained a "Buy" rating for Fresenius SE shares, setting a target price of 34 euros, despite the underperformance of European medical technology stocks this year. Analyst Graham Doyle's forecasts for 2025 are below consensus for 10 of the 17 sector stocks he covers. Currently, Fresenius shares are trading at 33.20 euros, reflecting an 18% increase since the start of 2024, with potential upside of 2.63% relative to the target price.
17:10 26.11.2024
Inheritance trends in Germany are shifting from cash to tangible assets, with 54% of heirs now receiving properties compared to 40% in 2018. New family structures are prompting changes in succession planning, as only 42% of spouses designate each other as sole heirs. Additionally, 60% of future heirs intend to use inherited assets for wealth accumulation and retirement, highlighting the growing importance of inheritances for financial security.
Bitcoin's price has fallen below $92,000, reflecting a reality check following a recent rally spurred by optimism over a crypto-friendly Washington. Investors are shifting to a "risk-off mode," with profit-taking becoming evident after Bitcoin nearly reached the $100,000 mark. The path to six figures appears more challenging, as market players remain cautious amid ongoing economic uncertainties.
IG
17:05 26.11.2024
Zee Entertainment Enterprises Ltd (ZEEL) and its subsidiary faced a setback as an arbitral tribunal rejected their claims against RailTel. The dispute arose from the alleged wrongful termination of the Content on Demand Agreement, with ZEEL seeking compensation for amounts they claimed were wrongfully forfeited.
UBS shares fell by 1.4% to CHF 27.95 in morning trading, making it one of the SMI's losers. The stock opened at CHF 28.12 and has a 52-week high of CHF 29.57, 5.80% above the current price, while the lowest was CHF 22.53. Analysts expect earnings of USD 1.77 per share for 2024, with a quarterly revenue decline of 0.21% reported at CHF 18.86 billion.
17:02 26.11.2024
UBS Group AG is set to acquire full ownership of its securities venture in China, UBS Securities Co. Limited, as its partner, Beijing State-owned Asset Management, sells a 33% stake for 1.5 billion yuan. This move is part of UBS's strategy to enhance its presence in China and follows its recent acquisition of Credit Suisse. Additionally, UBS is pursuing a wider banking license in the U.S. and exploring a wealth management joint venture in India to capitalize on growth opportunities in key markets.
17:01 26.11.2024
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