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creditors lawsuit against switzerland expected to extend into 2025

A legal dispute involving eight former Credit Suisse creditors against Switzerland is expected to extend until at least February 2025, as they seek around CHF 80 million in damages. The plaintiffs argue that the Financial Market Authority's decision to write off CS's AT1 bonds was unlawful. Switzerland is represented in the New York federal court by William Savitt, a prominent trial lawyer known for his expertise in complex commercial litigation.
Finanz und Wirtschaft
Swiss Franc Wachtell, Lipton, Rosen & Katz Credit Suisse Anlagestiftung UBS SA CHE William Savitt Dale Ho Show more
TradFi, News Article
07:08 18.10.2024

elevance health reports strong revenue growth despite net income decline

Elevance Health Inc (NYSE:ELV) reported a total operating revenue of $44.719 billion for Q3 2024, up from $42.480 billion the previous year, despite a decline in net income to $1.008 billion from $1.300 billion. The company serves 47 million members and remains the largest provider of Blue Cross Blue Shield coverage in 14 states, showcasing strong market leadership and financial stability. However, the decrease in net income raises concerns about potential challenges in cost management and competitive pressures.
@YahooFinance
United States Dollar Blue Cross Blue Shield Association Elevance Health, Inc. USA
Finance & Economy, Market Report
07:02 18.10.2024

long term care mergers and acquisitions thrive in first half of 2024

Mergers and acquisitions in long-term care outperformed other healthcare sectors in the first half of 2024, with a record 183 transactions in Q2, a 21% increase from Q1. Distressed sales are rising due to financial struggles post-COVID, prompting smaller operators to seek affiliations for sustainability.
McKnight's Senior Living
LevinPro LTC Baker Tilly Advisory Group LP Michael Demers Jennifer Schwalm
Finance & Economy, Market Report
06:49 18.10.2024

mixed market sentiment as netflix boosts nasdaq amid geopolitical tensions

Wall Street showed mixed results, with Netflix boosting the Nasdaq while the SMI lacked clear direction. After a brief rise, the leading index lost most gains amid quiet trading, influenced by geopolitical tensions and uncertainty surrounding the upcoming US presidential elections. Despite a generally positive sentiment, market consolidation appears necessary after a strong week.
cash.ch
Avolta Netflix, Inc. Newron Show more
TradFi, Market Report
06:15 18.10.2024

mixed us futures as netflix boosts nasdaq amid market uncertainty

US futures are mixed, with Netflix boosting the Nasdaq while the SMI lacks clear direction. After an initial rise, the leading index lost most gains amid quiet trading, influenced by geopolitical tensions and uncertainty surrounding the upcoming US presidential elections. Consolidation appears beneficial after a strong week.
cash.ch
Netflix, Inc. ABB Ltd
TradFi, Market Report
06:15 18.10.2024

credit suisse at1 bond lawsuit against switzerland faces lengthy legal battle

A U.S. lawsuit involving eight former creditors of Credit Suisse is set to extend into next year, with an initial ruling not expected until February. The plaintiffs are seeking around 80 million Swiss francs, claiming that the Swiss Financial Market Supervisory Authority's decision to declare their AT1 bonds worthless violated property rights. The case, filed in June 2024, is part of a broader legal challenge against the Swiss government regarding the handling of these bonds during CS's collapse in March 2023.
finews.com
Swiss Franc Credit Suisse Anlagestiftung Quinn Emanuel Urquhart & Sullivan LLP USA CHE Dale Ho
Regulatory & Legal, News Article
05:53 18.10.2024

us indices poised for gains as australian banks drive asx 200 higher

US indices are set for historic gains, with the S&P 500 and Dow Jones on track for their best run since late 2023. The ASX 200 reached a record high, driven by strong bank performance, while key economic indicators showed positive trends in retail sales and job growth.Looking ahead, significant events include the Reserve Bank of Australia's speech and the release of various PMIs in the US, Europe, and Japan, alongside the third-quarter earnings season featuring major companies like Tesla and Boeing.
IG
Euro Chinese Yuan United States Dollar Japanese Yen Tesla, Inc. Coca-Cola Consolidated, Inc. The Boeing Company Lockheed Martin Corporation American Airlines Group Inc. CHN JPN AUS USA NZL DEU Lockheed Martin Donald Trump Coca-Cola Joe Biden Elon Musk Show more
TradFi, Market Report
05:47 18.10.2024

UBS directed by FINMA to enhance insolvency recovery plans

FINMA has instructed UBS to enhance its resolution planning to provide more options for action in the event of potential insolvency. This directive aims to strengthen the bank's preparedness and response strategies in financial distress situations.
Regulation Asia
UBS SA CHE
TradFi, Market Report
05:30 18.10.2024

ubs downgrades ap moller maersk shares amid market concerns

UBS has downgraded its recommendation for A.P. Möller-Maersk from "buy" to "neutral," resulting in a 1% drop in share price to DKK 10,235. The price target has been reduced from 13,953 to 11,000 Danish kroner, reflecting current market conditions and future outlook concerns. Despite a recent decline, the share price has increased by 156.72% year-on-year.
Börse Express
Euro Danish Krone United States Dollar A.P. Møller - Mærsk A/S UBS SA DNK
TradFi, Market Report
04:36 18.10.2024

asx 200 reaches record high while forex markets react to economic signals

The ASX 200 recently hit a record high of 8331, driven by optimism over China's economic policies, but retreated after US market pullbacks. Traders are eyeing critical support between 8110 and 8100 for future movements. In the forex market, the US dollar strengthens amid positive economic indicators, while the Australian dollar softens around $0.67 due to uncertainties regarding Chinese fiscal stimulus and domestic data. Upcoming jobs reports may trigger volatility, potentially leading to interest rate cuts by the Reserve Bank of Australia.
IG
Australian Dollar United States Dollar Reserve Bank of Australia CHN AUS USA Show more
TradFi, Market Report
04:18 18.10.2024
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