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activists push to bar UBS from managing US pension funds

Activists are pushing to exclude UBS from the US pension market, alleging that the bank's structures enable criminal behavior. UBS is seeking an extension of a temporary exemption to manage pension assets after reportedly mishandling transactions post-exemption expiration. The bank faces scrutiny due to past misconduct, including fines related to Libor manipulation and money laundering.
Finanz und Wirtschaft
United States Dollar Credit Suisse Anlagestiftung UBS SA CHE
TradFi, News Article
12:59 14.10.2024

ubs downgrades basf shares amid ongoing earnings challenges and market concerns

UBS has downgraded BASF shares from "buy" to "neutral," citing a lack of expected turnaround in earnings performance. Analyst Geoff Haire cut operating profit estimates by eight percent annually through 2026, predicting continued challenges in the biopharma and agricultural sectors, alongside a weaker global GDP. BASF's dividend has also been reduced, reflecting a less attractive short-term earnings outlook.
finanzen.net
Euro BASF SE DEU USA Geoff Haire
TradFi, Market Report
12:36 14.10.2024

mountside ventures launches first european vc accelerator for emerging fund managers

Mountside Ventures has launched Europe's first VC accelerator, the Emerging VC Manager Program, aimed at supporting emerging venture capital managers. This free, twelve-week program offers mentorship from industry experts and fundraising support, with events in major cities like Berlin, London, and Amsterdam to connect participants with potential investors. The initiative seeks to empower underrepresented managers and strengthen the European tech ecosystem. Applications are now open for VCs looking to establish their first to third fund with a defined strategy.
@startbase1
LocalGlobe KFWG UG Sage 24 Ltd. AXA Ventures Osborne Clarke Ltd. Hoxton Ventures II LP DEU NLD GBR Gregor von Knesebeck Jonathan Hollis Show more
Finance & Economy, Press Release
12:20 14.10.2024

new medtech accelerator launched to support uk small businesses in regulatory challenges

A £4.2 million MedTech accelerator program has launched to support up to 140 UK SMEs in overcoming regulatory challenges related to medical devices and diagnostics. Funded by the UK government and delivered by CPI in partnership with the Office for Life Sciences, the initiative offers grants of up to £30,000 for external regulatory guidance. Applications opened on 9 October 2024, with decisions expected by 29 November 2024, aiming to expedite the introduction of life-saving technologies to the market.
digitalhealth.net
British Pound Sterling CPI Books Ltd. GBR Peter Kyle Rahul Kapoor Roz Campion Wes Streeting Show more
Healthcare, Press Release
12:01 14.10.2024

ECB expected to cut interest rates amid economic concerns and falling inflation

The European Central Bank (ECB) is expected to cut its key interest rate by 25 basis points to 3.25% during its meeting on 17 October, amid declining inflation and economic concerns in the eurozone. Economists anticipate further cuts in December, with projections suggesting the ECB could reach its neutral rate by mid-2025. While rate cuts typically boost equity and bond markets, some experts caution that a surprise hold is still possible due to a lack of significant economic data since the last meeting.
IG
Euro United States Dollar Deutsche Bank Aktiengesellschaft Carsten Brzeski François Villeroy de Galhau Christine Lagarde Show more
TradFi, Market Report
12:00 14.10.2024

Air France-KLM reports strong performance in passenger and cargo transport

Air France-KLM, a leading global airline, reported net sales primarily from passenger and cargo transport, accounting for 85.4% of its activities, with 72.1 million passengers and 0.9 Mt of cargo in 2023. The group also operates low-cost services through Transavia, carrying 21.5 million passengers, and offers maintenance services. By the end of 2023, the fleet comprised 551 aircraft, including 271 owned and 280 leased, distributed among Air France, KLM, and Transavia.
MarketScreener
Euro United States Dollar Air France-KLM SA FRA NLD
TradFi, Market Report
11:53 14.10.2024

aviation tax increase may reduce paris traffic and impact ebitda

UBS anticipates a slight decline in Paris traffic due to a potential increase in aviation taxes, estimating a headwind effect of a few percentage points over the coming years. The broker suggests that demand elasticity is closer to 0.2x, indicating a 2% drop in volumes for a 10% fare increase, particularly for low-cost routes. Additionally, a 1% change in traffic is projected to impact the Group's EBITDA by approximately 1%.
Zonebourse
UBS SA FRA
TradFi, Market Report
11:35 14.10.2024

aviation tax increase may reduce paris traffic by several percentage points

UBS anticipates a few percentage points drop in Paris traffic due to a potential increase in aviation taxes, which could act as a significant headwind. The broker suggests a more realistic demand elasticity of 0.2x, indicating that a 10% rise in ticket prices could lead to a 2% decline in volumes, particularly affecting low-cost routes. Additionally, a 1% change in traffic is estimated to impact the Group's EBITDA by around 1%.
Option Finance
UBS SA FRA
TradFi, Market Report
11:34 14.10.2024

activists push to revoke UBS pension market exemption amid criminal history

Activists are urging the U.S. Labor Department to revoke UBS's exemption allowing it to manage U.S. pension assets, citing the bank's history of nearly 100 crimes and $20 billion in penalties since 2000. UBS, which recently applied to extend its exemption, argues that past issues were due to individual employees. The bank has faced significant legal challenges, including a conviction in France for tax evasion and a settlement in an antitrust lawsuit.
MarketScreener
Euro United States Dollar Credit Suisse Anlagestiftung UBS SA CHE James Henry Credit Suisse
TradFi, News Article
11:33 14.10.2024

campaigners seek to revoke ubs exemption from us pension market

A group of campaigners is urging the U.S. Department of Labor to revoke UBS's exemption from regulations that allow it to manage American pension assets, citing the bank's history of nearly 100 offenses and $20 billion in penalties since 2000. UBS, which has submitted a 500-page application to extend its exemption, argues that past issues were due to individual staff actions. The bank has faced significant legal challenges, including a €4.5 billion fine in France for tax evasion and a $46 million settlement over antitrust allegations.
@YahooFinance
Euro United States Dollar Credit Suisse Anlagestiftung UBS SA FRA CHE USA James Henry Mark Potter Show more
TradFi, News Article
11:33 14.10.2024
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