UBS is urged by the Swiss financial regulator Finma to enhance its stabilization and contingency plans following its acquisition of Credit Suisse. Finma has suspended the annual approval of these plans, emphasizing the need for improved crisis preparedness and liquidity measures to ensure UBS can operate without interruption during potential insolvency risks.
11:01 15.10.2024
UBS O’Connor, a $12 billion hedge-fund unit of UBS Asset Management, is betting on a revival in the merger-arbitrage market, which has struggled this year due to regulatory challenges affecting major deals. Despite some managers exiting the trade, UBS has maintained a third of its portfolio in merger-arb strategies, anticipating improved performance in the coming months.
11:00 15.10.2024
UBS O’Connor is betting $4 billion on a revival in the merger-arbitrage market, which has struggled this year due to regulatory challenges. With a third of its portfolio in merger-arb, the firm anticipates a catalyst-rich quarter ahead, driven by the US presidential election and updates on key deals. Despite a slight recovery, merger-arb strategies remain among the weakest in hedge-fund performance, with a 3.5% gain compared to the broader industry’s 8.3%.
11:00 15.10.2024
UBS has been directed by FINMA to revise its emergency plans, expanding options for potential insolvency scenarios amid ongoing debates about the bank's size in Switzerland. The integration of Credit Suisse necessitates adjustments to ensure effective restructuring and potential market exit strategies. Additionally, legal frameworks must be adapted to enhance resolution options and ensure legal certainty during crises.
10:56 15.10.2024
UBS has raised its price target for Accelleron from CHF 47 to CHF 51.80, maintaining a "buy" rating. The analyst anticipates that Accelleron will secure a leading position in the turbocharger market for ships, driven by positive global demand for shipping capacities.
10:55 15.10.2024
The UK has launched a new Regulatory Innovation Office (RIO) aimed at accelerating public access to emerging technologies, including AI and bioengineering, by streamlining outdated regulations. Science Secretary Peter Kyle emphasized the initiative's potential to enhance healthcare and stimulate economic growth, while also addressing regulatory barriers across sectors like space and autonomous technology. The success of this initiative will depend on effective coordination among various government efforts to harness technological advancements for the benefit of the economy and public health.
The European life sciences real estate market faces a critical shortage, with vacancy rates in wet labs around 5% and demand exceeding supply by 30%. Despite a 40% drop in venture capital funding since 2021, rental growth remains strong, particularly in Cambridge and Oxford. Governments are urged to enhance pharmaceutical production and distribution capabilities to address ongoing medicine shortages, necessitating increased real estate investment across the supply chain.
10:45 15.10.2024
UBS is required to revise its emergency and stabilization plans following the takeover of Credit Suisse, as integration has created challenges in assessing UBS's restructuring capabilities. The Financial Market Authority (Finma) has suspended the annual approval of these plans, emphasizing the need for additional options, including market exit strategies, to ensure systemic stability without taxpayer support. UBS, which has a loss-absorbing capacity of around $200 billion, is working on enhancing its resolution planning to meet the special requirements for crisis prevention as a global systemically important bank.
10:40 15.10.2024
Finma has suspended UBS's annual approval of stabilization and emergency plans, citing the need for adjustments following the Credit Suisse takeover. The authority requires UBS to standardize its structures and processes for potential recapitalization and liquidation, emphasizing the necessity of preparing for a market exit without taxpayer support. Given the current landscape, a foreign bank would likely need to intervene in a crisis, raising concerns about the feasibility of such a cross-border rescue.
10:36 15.10.2024
Biotech companies face significant challenges in financing due to high R&D costs and long development timelines, with a notable decline in private funding observed from 2021 to 2023. Government initiatives, such as the Growth Opportunities Act, aim to bolster capital flow, while strategic partnerships can help mitigate investment risks. Despite a slight interest rate cut in the eurozone and the USA, the sector remains under pressure from macroeconomic factors and regulatory complexities.
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