Critics argue that Thomas Jordan, head of the National Bank, failed to support Credit Suisse adequately during its crisis, opting for a passive approach that left the federal government to handle a CHF 9 billion forced sale. Meanwhile, Axel Lehmann, the last Chairman of CS, defends his tenure, attributing the bank's decline to his predecessors and facing potential legal challenges. Finance Minister Karin Keller-Sutter is praised for her decisive actions post-crisis, but questions remain about the implications of a state-backed UBS and the regulatory failures of FINMA under Marlene Amstad.
The final report on the Credit Suisse crisis, released by the Parliamentary Commission of Inquiry, scrutinizes the actions of key institutions and individuals, including FINMA and the Swiss National Bank, during the bank's emergency merger with UBS. It highlights potential failings of former Finance Minister Ueli Maurer and assesses the collaboration among financial authorities. The findings will inform future regulations on "too big to fail" banks, with proposed amendments expected by mid-2025.
Zurich Insurance Group Ltd has been downgraded to a "sell" rating by UBS. The company's revenue is primarily derived from general insurance (75.2%), followed by life insurance (19.6%), with a small portion from other activities (0.7%) and services from the Farmers Group (4.5%).
UBS has downgraded Zurich Insurance Group Ltd to a Sell rating. The company's income distribution is primarily from general insurance (75.2%), followed by life insurance (19.6%), with a small portion from other services (0.7%) and Farmers Group activities (4.5%).
Bitcoin's recent price trajectory mirrors past cycles, with long-term holders realizing $2.1 billion in profits as they began selling at the $100K mark. However, Bitcoin, Ethereum, and Ripple experienced significant declines this week, collectively wiping out $1.17 billion from the market. The overall cryptocurrency sector valuation fell below $3.5 trillion, reflecting a $400 billion sell-off triggered by a hawkish Federal Reserve stance.
Chainlink's LINK token has faced a sharp correction, dropping 15% to below $25, yet analysts remain optimistic, projecting a rebound to $35 by January 2025 and a potential high of $75 by mid-2025. Despite recent volatility and a significant whale withdrawal of over 529,000 LINK tokens, strong support at $23 persists, with a bullish sentiment fueled by increased trading volume and Chainlink's fundamentals. Analysts expect LINK to maintain an average price of $45 by 2025, reflecting a 120% increase in value, as the market anticipates a recovery following its recent 63% surge over the past month.
Asian shares showed mixed results as markets awaited U.S. personal spending data. Japan's core inflation rose to 2.7% year-on-year, prompting a stronger dollar against the yen. Meanwhile, U.S. Treasury yields fluctuated amid mixed economic reports, with the S&P 500 still on track for a strong year despite recent market struggles.
Asian shares showed mixed results as markets awaited U.S. personal spending data. Japan's core inflation rose to 2.7%, prompting a stronger dollar against the yen. Meanwhile, U.S. markets faced volatility, with the S&P 500 still on track for a strong year despite recent fluctuations.
U.S. markets are set to open lower as a potential government shutdown looms, following the House's rejection of President-elect Trump's funding plan. Futures for the S&P 500 and Dow Jones fell, while FedEx shares surged 9% after exceeding profit expectations. In Europe, major indices declined, and Japan's inflation data exceeded forecasts, impacting the yen's value.
Asian shares showed mixed results as markets awaited U.S. personal spending data. Japan's core inflation rose to 2.7% year-on-year, prompting the dollar to strengthen against the yen. Meanwhile, the S&P 500 remains on track for a strong year despite recent market struggles, with traders adjusting expectations for future interest rate cuts by the Federal Reserve.

Machinary offers a groundbreaking, modular, and customizable solution that provides advanced financial news and statistical analysis. Our platform goes beyond traditional quantitative analysis, offering users a comprehensive understanding of real-time market dynamics, event detection, and risk analysis.

Address

Waitlist

We’re granting exclusive early access to the first 500 users from december 20.

© 2024 by Machinary.com - Version: 1.0.0.0. All rights reserved

Layout

Color mode

Theme mode

Layout settings