The world is on track for a catastrophic 3 degrees Celsius warming, with severe consequences like increased heat waves and rising sea levels. The U.N. warns that without significant action and enhanced commitments from nations, the goal of limiting warming to 1.5C will be unattainable, jeopardizing future climate stability. As leaders prepare for the COP29 summit in Baku, urgent calls for stronger climate action and funding are emphasized to meet Paris Agreement targets.
UBS has maintained a 'Buy' rating for Danone, setting a target price of 72 euros following strong third-quarter sales that surpassed expectations. Analyst Guillaume Delmas noted that the food group benefited from both volume growth and a favorable product range composition.
15:59 24.10.2024
UBS has maintained a 'Sell' rating for Unilever, setting a target price of 4000 pence, following strong third-quarter sales driven by the ice cream segment. Analyst Guillaume Delmas noted that the company's growth surpassed consensus estimates by nearly threefold. Unilever, a leading global supplier of beauty, personal care, and food products, continues to advance its Sustainable Living Plan, aiming for 100% of its plastic packaging to be reusable, recyclable, or compostable by 2025.
15:55 24.10.2024
Wall Street is launching new ETFs with varying exposure to major tech stocks, following a recent downturn that raised concerns about high valuations. BlackRock is introducing the iShares Nasdaq Top 30 Stocks ETF (QTOP) and the iShares Top 20 US Stocks ETF (TOPT), which will track the largest companies in the Nasdaq 100 and S&P 500 indices, respectively.
UBS CEO Sergio Ermotti is contemplating the future of the bank following its merger with Credit Suisse, emphasizing the need to adapt to technological advancements that will reshape the industry. As UBS integrates its operations, it has streamlined IT applications and is focused on maintaining liquidity in balance sheets to mitigate reputational risks exacerbated by social media. The bank is also preparing for a moderation in cost cuts as it reports third-quarter earnings.
15:54 24.10.2024
KKR & Co. has become the fourth private-markets firm to surpass $500 billion in fee-paying assets under management, reaching $506 billion after a 19% year-over-year increase. This growth reflects KKR's strategy to expand beyond its buyout origins, aiming for more client assets and stable fees. Following the announcement, KKR's shares rose 3.24% to a record high of $143.04 in New York.
The U.K. government has revived the Data (Use and Access) Bill, aiming to streamline data sharing across sectors like healthcare and law enforcement, potentially boosting the economy by £10 billion. However, concerns arise over reduced privacy protections, particularly regarding automated decision-making and privacy notices, which could undermine individual rights. Critics warn that the bill may allow significant data rights erosion and grant excessive powers to organizations in handling personal information.
McDonald's is set to announce its Q3 earnings, with expectations of $3.20 per share on $6.81 billion in revenue, following strong previous performances. Analysts will focus on same-store sales growth, pricing power, and operational efficiency amid rising costs, particularly in the US and Europe. The company's digital transformation and delivery partnerships are also under scrutiny as they aim to maintain customer engagement and long-term growth.
IG
15:53 24.10.2024
Shares of German air taxi firm Lilium plummeted 53% after the company announced that its two main subsidiaries will file for insolvency due to insufficient funds. Despite attempts to secure a €50 million loan from the federal government and ongoing discussions with Bavaria, Lilium failed to reach an agreement. The insolvency filings could lead to Lilium's delisting from the Nasdaq.
In a recent episode of The Consumer Finance Podcast, experts Chris Willis, David Anthony, and Rami Haddad discussed critical issues in consumer finance, including current litigation trends and the implications of the Supreme Court's decision in the Loper Bright case. They also examined the CFPB's new nonbank registry rule and the increasing scrutiny on medical debt collection practices.
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