Basil Heeb is stepping down as CEO of Basler Kantonalbank (BKB) in March 2025, allowing Regula Berger to lead the bank into its new strategic period from 2026 to 2029. Heeb reflects on his six years in office, highlighting BKB's strengthened market position and commitment to its home market in Basel, while dismissing any connection to past issues at the Zurich branch. He plans to pursue external management opportunities post-resignation.
The Federal Reserve's recent 50-basis point rate cut has sparked optimism in equity markets, with the S&P 500 reaching a record high and a year-to-date gain of 20.2%. This easing cycle is expected to support oil prices, projected to rise to around USD 87 a barrel by year-end, while gold has surged nearly 29% this year, potentially reaching USD 2,700 by mid-2025. However, the US dollar faces pressure as the Fed's cuts diminish its yield advantage, prompting investors to seek alternatives and diversify internationally.
Ticino's Budget 25 reveals a projected deficit of 64 million francs, prompting the government to propose 71.98 million in savings, primarily affecting health insurance subsidies and education. The Grand Council faces pressure to confirm measures like the connection tax, while the Confederation's upcoming savings could further strain cantonal finances.
Regula Berger will succeed Basil Heeb as CEO and Chairwoman of the Group Executive Board of Basler Kantonalbank on March 1, 2025, after Heeb's six-year tenure. Berger, currently Deputy CEO and Head of Commercial Client Sales, has been with BKB for six years and has extensive experience in the banking sector. Heeb will assist in the transition until the end of March before pursuing other opportunities.
Regula Berger, currently Deputy CEO and Head of Commercial Client Sales at Basler Kantonalbank, will succeed Basil Heeb as CEO and Chairwoman of the Group Executive Board on March 1, 2025. Heeb, who has led the bank for six years, will assist in the transition until the end of March 2025 before pursuing opportunities outside the Group. BKB shares remained stable at CHF 66.80.
In the latest issue of Prime Invest, BKB Head of Investments Sandro Merino discusses the subdued market response following key interest rate cuts in the USA and speculates on whether the Swiss central bank will follow. He also addresses China's structural issues and their implications for global trade, alongside an analysis of high-performing stocks, particularly Invidia.
IG Group has initiated the second phase of its £150 million share buyback program, committing an additional £75 million to reduce share capital, with UBS AG managing the process. The company reported a 15% revenue increase in Q1 FY24, reaching £278.9 million, driven by higher earnings from derivatives, despite a slight decline in active customers. Additionally, IG Group plans to cut about 300 jobs, approximately 10% of its workforce, and has appointed Breon Corcoran as CEO, effective January 29, 2024.
Regula Berger has been appointed as the new Group CEO of Basler Kantonalbank, effective March 1, 2025. Currently serving as deputy to the CEO and head of the Commercial Customer Sales department, she will succeed Basil Heeb, who is stepping down at the end of February. Bank Board Chairman Adrian Bult praised her leadership skills and capacity for implementation since joining the bank six years ago.
Ford Motor Company reported Q2 revenue of $47.80 billion, a 6.22% year-over-year increase, with net income of $1.8 billion and earnings per share of $0.46. Post-earnings, share price movements exhibit initial volatility that stabilizes over time, suggesting opportunities for short-term gains while emphasizing the importance of assessing the company's fundamental value. Investors should adopt a balanced approach, considering both immediate reactions and medium-term trends.
IG
Burkhalter Holding AG, with a market cap of CHF 937.29 million, offers electrical engineering services and boasts a 5% dividend yield, placing it among the top Swiss dividend payers. Despite a volatile track record, recent results show sales growth to CHF 570.3 million and a net profit of CHF 23.3 million. Romande Energie Holding SA, valued at CHF 1.23 billion, operates in energy production and distribution, with a stable dividend yield of 3% but concerns over sustainability due to low free cash flow coverage.
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