Moody's has confirmed the "Aa2" rating for long-term deposits and "A2" rating for long-term senior unsecured liabilities of Berner Kantonalbank (BCBE), maintaining a "stable" outlook. This decision reflects the bank's strong financial position and asset quality, while also considering credit portfolio risks related to regional residential property concentration.
09:00 04.10.2024
EFG International shares, traded on the SWX stock exchange, were valued at CHF 5.66 on October 4, 2019. An investment of CHF 10,000 at that time would now be worth CHF 20,494.70, reflecting a 104.95% increase, with the last closing price at CHF 11.60 and a market capitalization of CHF 3.51 billion.
09:00 04.10.2024
Stephan Preiswerk, son of Basel aristocrat Matthias Preiswerk, is set to become the Head of Private Banking at Basler Kantonalbank (BKB) in January 2025. At just 34, he transitions from Baumann & Cie, where he quickly rose through the ranks, to a position with a stable pension and taxpayer-backed salary. His career began at EY, followed by a significant role at his father's bank, showcasing his ascent in the Basel banking elite.
09:00 04.10.2024
DSV shares surged 7% after raising $5.5 billion for the acquisition of Schenker, boosting its earnings forecast. Recordati gained 4% following its $825 million acquisition of Sanofi's Enjaymo, while Skanska rose 3% after securing multiple contracts in the U.S. Conversely, shipowners Hapag-Lloyd and AP Moller Maersk saw declines of 12% and 6%, respectively, as the end of a U.S. port strike diminished their pricing power.
09:00 04.10.2024
Moody's has affirmed Berner Kantonalbank's "Aa2" rating for long-term deposits and "A2" for long-term senior unsecured debt, maintaining a stable outlook. Despite this positive assessment, the bank's share price dipped to EUR 243.00, with a planned dividend of EUR 10.00 per share, yielding 4.13%. Recent analyses suggest shareholders may need to consider their options carefully.
09:00 04.10.2024
The US labor market defied expectations with over 200,000 jobs added in September, despite disruptions from strikes and Hurricane Helene. Job growth was particularly strong in the service sector, while manufacturing saw job losses for the second consecutive month. The robust labor market may influence long-term interest rate outlooks, but the Federal Reserve is likely to focus on smaller rate cuts moving forward, given the ongoing decline in inflation.
09:00 04.10.2024
Healthcare mergers and acquisitions surged to $13.3 billion in Q3 2024, marking the highest activity level since Q3 2017, driven largely by transactions related to the Steward Health Care bankruptcy. Among 27 announced deals, four were classified as "mega mergers," including significant acquisitions by Orlando Health and Prime Healthcare. The overall transaction volume reflects a trend of portfolio realignment among large health systems, with notable divestitures aimed at reducing debt and enhancing operational efficiency.
A proposed 5-euro tax on cigarette packs aims to generate 13.8 billion euros for Italy's National Health Service, addressing the health crisis linked to smoking, which causes 93,000 deaths annually. Supported by 62% of the public, the initiative seeks to reduce tobacco consumption and has garnered bipartisan backing in the Senate.
Hospital and health system merger and acquisition activity surged in Q3 2024, reaching its highest level since 2017, largely driven by the bankruptcy of Steward Health Care and several mega mergers. Notable transactions included Health Care Systems of America taking over eight Steward hospitals and Orlando Health acquiring Brookwood Baptist Health. This trend highlights both the challenges faced by financially distressed hospitals and the opportunities for larger health systems to expand their reach and improve care coordination.
A proposed "purpose tax" aims to increase cigarette prices by 5 euros to generate up to 13.8 billion euros for the National Health Service in Italy. Supported by Senate Vice President Domenica Castellone, the initiative seeks to combat smoking-related health issues, particularly lung cancer, which accounts for a significant number of diagnoses in the country. Public sentiment appears favorable, with 62% of smokers backing the tax as a means to enhance health funding.
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