ubs seeks national bank license to enhance us operations and services

UBS is seeking a national bank license in the U.S. to enhance its banking services and reduce dependency on client-advisor relationships. This move is crucial as nearly half of its Wealth Management revenue comes from the U.S., where it manages $2 trillion in client assets. A national license would allow UBS to accept demand deposits and offer credit products nationwide.
02:22 19.11.2024

fidelity boosts stock positions anticipating fiscal stimulus in china

Fidelity International"s George Efstathopoulos is increasing stock positions, anticipating fiscal stimulus to support China"s economy. After profiting from Hong Kong stocks, he has shifted focus to mid-cap shares on the mainland, particularly the CSI 500 Index, which has underperformed compared to the CSI 300 this year.

Nifty below 200 DEMA signals potential bear phase ahead

Rohit Srivastava, founder and market strategist of Indiacharts, advises waiting for market capitulation after the Nifty fell below the 200 DEMA at 23,541. He notes that with less than 60% of stocks above the 200 DMA, a potential bear phase may be imminent, suggesting that any attempts to rise could be met with selling pressure until a significant bounce occurs.

wiss banks fall short on climate and biodiversity targets according to ranking

None of the 15 major Swiss retail banks are meeting international climate and biodiversity targets, according to a WWF Switzerland ranking. The banks scored an average of 2.2 out of 5, placing them in the "average" category, with Zurich Cantonal Bank leading the assessment. Despite some progress since 2021, no bank achieved "pioneer" or "visionary" status, particularly struggling in credit and financing activities.
02:00 19.11.2024

Jim Cramer advocates for Tesla stock amid potential self-driving regulations

Jim Cramer advocates for owning Tesla stock, emphasizing the influence of CEO Elon Musk rather than potential changes in self-driving regulations under President-elect Trump. Despite skepticism about the ease of implementing federal self-driving rules, Cramer highlights the "Elon premium" that elevates Tesla"s market position, distinguishing it as a tech company with a unique valuation compared to traditional automakers. Tesla"s stock rose 5.62% following reports of the Trump team"s interest in a federal framework for autonomous vehicles.

Apple proposes 100 million investment to lift Indonesia iPhone 16 sales ban

Apple Inc. has proposed to invest nearly $100 million in Indonesia over two years to persuade the government to lift its sales ban on the iPhone 16. This marks a significant increase from its earlier plan of about $10 million, which focused on establishing a factory for accessories and components in Bandung, southeast of Jakarta.

xpeng shares soar 93 percent amid strong demand for electric vehicles

Xpeng Inc. has emerged as the hottest electric vehicle stock, with its Hong Kong-listed shares soaring 93% since August, significantly outperforming competitors like Tesla and Nio. This surge is driven by strong order momentum for its new battery electric vehicle models, bolstered by competitive pricing and advanced autonomous driving features.

uth korea boosts world bank contribution by 45 percent to over 600 million

South Korean President Yoon Suk Yeol has announced a significant increase in the nation"s contribution to the World Bank"s International Development Association fund. The contribution will rise by 45%, exceeding $600 million, as stated by the finance ministry.

RBA maintains cash rate while evaluating future monetary policy scenarios

Australia"s central bank maintains that its current cash rate is suitable for addressing persistently high core inflation. In its recent meeting, the Reserve Bank noted that while monetary policy is deemed restrictive, the extent of this remains uncertain, with broader financial conditions having eased in recent months.

EHang conducts first pilot-free air taxi test flights in Thailand

EHang"s EH216-S has successfully conducted its first pilot-free test flights in Bangkok, marking a significant step in Thailand"s urban air mobility (UAM) initiative. With plans for further tests in Phuket and Koh Samui by 2025, EHang aims to establish a model for regular UAM operations in Southeast Asia, supported by local partnerships and recent investments. The company is also advancing solid-state battery technology, positioning itself as a potential leader in the electric air taxi market.
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