UBS is intensifying its focus on the French investment banking market, aiming to become the leading corporate and investment bank in the country. Following its acquisition of Credit Suisse, the Swiss bank has established a new hub in Paris to capitalize on France's position as Europe's second-largest mergers and acquisitions market.
18:18 09.10.2024
Glarner Kantonalbank (GLKB) demonstrates resilience in a challenging financial market, with a 1.56% increase in share price over the past month. The bank plans to distribute a dividend of EUR 1.10 per share for 2024, yielding 5.09%, appealing to investors amid low interest rates. With a price/earnings ratio of 10.60, the shares are considered moderately valued, prompting discussions on whether to buy or sell.
17:22 09.10.2024
Ten pharmaceutical executives and sales representatives have been charged with the illegal distribution of approximately 70 million opioid pills and 30 million doses of other prescription drugs, valued over $1.3 billion on the black market. Most defendants have pleaded guilty, with allegations pointing to a scheme targeting Houston-area pill-mill pharmacies and employing tactics to evade DEA oversight. The case highlights a broader trend, as settlements under the False Claims Act in the healthcare sector exceeded $1.8 billion in the last fiscal year.
An artisanal bakery, John Baker, is set to open on Zurich's Bahnhofstrasse, a prestigious shopping street, marking a potential shift in the area's retail landscape. Founded by Jens Jung, the bakery emphasizes on-site production and aims to complement the luxury brands nearby. The arrival of Manor in 2027, following the departure of Jelmoli, signals a revitalization of the neighborhood, highlighting a growing appreciation for a mix of local and international stores.
17:00 09.10.2024
Cadian Capital Management, a tech-focused hedge fund, experienced a 10% loss in September, bringing its year-to-date decline to 15%. This marks a potential worst annual performance since 2021, despite the tech-heavy Nasdaq rising over 23% this year. Key positions like Braze and Elastic have significantly impacted results, with Braze dropping 28% after disappointing earnings.
Berner Kantonalbank (BEKB) demonstrates resilience in a volatile market, with a 1.85% increase in share price over the past month, currently trading at EUR 247.00, near its 52-week high. The bank's attractive dividend of EUR 10.00 per share for 2024 offers a yield of 4.05%, appealing to income-focused investors. Recent analyses suggest shareholders should consider their options carefully regarding buying or selling.
15:44 09.10.2024
Monson Savings Bank has appointed Michelle Cayo as vice president and Credit Risk Officer. With over 26 years of banking experience, she will manage the Commercial Credit department, train credit analysts, and contribute to loan policy development. Cayo, a community advocate and recognized volunteer, expressed her enthusiasm for joining a team that shares her commitment to local communities.
15:11 09.10.2024
Silver prices remain above $30 as investors anticipate a decline in US inflation. The upcoming Fed minutes and new inflation data are crucial for understanding future monetary policy, with an 86.6% chance of a 25 basis point rate cut predicted for November 7. A drop below the $30 mark could intensify downward pressure on prices.
IG
15:09 09.10.2024
Investors are urging alternative asset managers to enhance their technology as they plan to increase capital allocations to private equity, credit, and real estate. While 58% of limited partners are satisfied with current tech capabilities, many express frustration over disparate dashboards and lack of analytics, highlighting a strong demand for unified platforms to monitor portfolios effectively.
iCapital, a global fintech firm, has surpassed $200 billion in global platform assets, reflecting a significant growth from $100 billion in December 2021. The platform, which connects over 104,000 financial institutions with more than 1,630 funds from 600 asset managers, aims to enhance access to private markets for investors. With a workforce of over 1,675 across 17 locations, iCapital plans to invest over $600 million into its technology and solutions by the end of 2024, while expanding its international presence.
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