The European Central Bank (ECB) has blocked efforts by the African Development Bank (AfDB) and Inter-American Development Bank (IDB) to secure special drawing rights (SDRs) from Eurozone nations for climate finance, citing legal incompatibilities. Despite support from France and Italy, Germany opposes reallocating SDRs, which the ECB views as a risk to financial stability. Economists suggest that direct allocation of SDRs to multilateral development banks could be a solution, but achieving the necessary consensus within the IMF remains challenging.
Boeing Co. maintains its position as a global leader in aeronautical construction, with net sales divided into commercial aviation (43.5%), defense, space, and security (32%), and services (24.5%). Geographically, 58.4% of sales come from the United States, followed by Europe (13.5%) and Asia (12.9%).
16:47 23.10.2024
UBS has maintained a 'Buy' rating for Boeing, setting a target price of $215 following the company's quarterly results, which were impacted by labor strikes. Analyst Gavin Parsons highlighted the importance of the upcoming union vote and potential capital increase as key factors for the company's future. Meanwhile, Boeing's third-quarter loss exceeded expectations, prompting concerns about a prolonged downturn.
16:47 23.10.2024
European Central Bank Chief Economist Philip Lane stated that disinflation in the euro area is progressing well. He highlighted a strong conviction among ECB policymakers regarding this trend, alongside expectations of low unemployment, growing consumption, recovering investment, and robust wage growth.
UBS has reaffirmed its Buy rating for The Coca-Cola Company, the global leader in non-alcoholic beverage production and marketing. The company's net sales are derived from beverage concentrates and syrups (56%) and bottling and sales (44%), featuring brands like Coca-Cola, Fanta, and Dasani. With over 133 production sites worldwide, 64.2% of its net sales come from international markets.
16:43 23.10.2024
Sasol's recent production update reveals challenges from a stronger rand, oil price volatility, and lower refining margins, leading to reduced fuel sales and a 1% drop in saleable mining production. Despite a 9% decline in South African chemical sales revenue, gas production in Mozambique increased. Analysts remain optimistic, with a buy rating and a long-term price target of 22650c, although the share price has broken support, prompting concerns among range traders.
IG
16:43 23.10.2024
G7 leaders have agreed to a $50 billion loan for Ukraine, utilizing interest from frozen Russian central bank assets as collateral. The U.S. will contribute $20 billion, with the remaining $30 billion coming from the EU, UK, Canada, and Japan. This unprecedented move aims to support Ukraine's economy and military in response to Russia's invasion.
Rohit Chopra, director of the Consumer Financial Protection Bureau, will address DC Fintech Week as the bureau finalizes a rule mandating financial firms to provide free access to personal financial data upon customer request. This regulation aims to enhance competition and facilitate easier account switching for consumers. While the American Bankers Association expressed concerns over data security, the Financial Technology Association welcomed the move as a means to boost innovation and consumer choice.
European Central Bank President Christine Lagarde expressed satisfaction with the progress made in reducing inflation, which has fallen below the 2% target. Speaking at an Atlantic Council event in Washington, she noted a significant decline in consumer-price growth from a peak exceeding 10%.
Goldman Sachs and Apple will pay over $89 million following a Consumer Financial Protection Bureau investigation into their credit card partnership. The probe revealed customer service issues and misrepresentations affecting hundreds of thousands of Apple Card users. Goldman is required to pay at least $19.8 million in redress and a $45 million civil penalty, while Apple faces a $25 million civil penalty.
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