venture capital investment declines significantly in 2023 across europe

2023 marked a significant downturn in venture capital, with only 715 companies raising €8.3 billion, a 38% drop in value. The GreenTech sector led with €2.7 billion, while Fintech and Internet services saw dramatic declines of 73% and 66%, respectively. France maintained its top position in the EU, widening the gap with Germany, which raised €6.6 billion.

ubs faces pressure to enhance crisis plans after credit suisse acquisition

Finma has mandated UBS to enhance its stabilization and contingency plans following its acquisition of Credit Suisse, emphasizing the need for improved risk management and liquidity strategies. The regulator has temporarily halted approval of these plans, urging UBS to learn from the Credit Suisse crisis, particularly regarding rapid responses to deposit withdrawals. Despite a slight dip in share prices, UBS maintains that it meets current requirements and is actively working to strengthen its liquidation strategies.
12:23 15.10.2024

ubs urged to enhance contingency plans after credit suisse takeover

The Swiss financial regulator, Finma, has urged UBS to enhance its stabilization and contingency plans following its acquisition of Credit Suisse. This call comes as UBS is required to ensure its Swiss operations can function uninterrupted during potential insolvency risks, emphasizing the need for improved liquidity measures. UBS has acknowledged the need for targeted development of its contingency strategies in light of lessons learned from the Credit Suisse crisis.
12:23 15.10.2024

ubs urged to enhance contingency plans after credit suisse takeover

UBS is urged by Swiss regulator Finma to enhance its stabilization and contingency plans following its acquisition of Credit Suisse. The regulator has suspended the annual approval of these plans, emphasizing the need for improved crisis preparedness and liquidity measures to protect financial stability and taxpayer interests. UBS acknowledged the need for targeted development of its contingency strategies to ensure uninterrupted operations during potential insolvency risks.
12:22 15.10.2024

trump and harris diverge on pharmaceutical policies ahead of election

As the election approaches, Vice President Kamala Harris and former President Donald Trump diverge on pharmaceutical policies. Harris aims to expand Medicare's drug price negotiations and has garnered significant industry support, while Trump has shifted to align with industry lobbyists, distancing himself from previous commitments to lower drug prices and eliminate rebates. The pharmaceutical sector faces critical stakes in the upcoming election, with contrasting visions from the two candidates.

EFG Asset Management appoints Damian Burkhardt as senior portfolio manager

EFG Asset Management has appointed Damian Burkhardt as senior portfolio manager for Swiss Equities, effective immediately. Based in Zurich, he will report to Daniel Murray and focus on developing Swiss equities strategies, leveraging his extensive experience from Credit Suisse Asset Management and Lombard Odier Investment Managers. Burkhardt holds a master's degree from the London School of Economics and is a CFA Charterholder.
12:17 15.10.2024

recipharm expands production in france amid shifting global supply chains

Recipharm is expanding its Monts production center in France to manufacture the Moderna vaccine, creating 100 jobs, despite challenges in recruiting skilled talent. The decision to relocate production is driven by economic interests, environmental concerns, and a desire to strengthen national sovereignty in the face of global supply chain vulnerabilities highlighted by the Covid-19 pandemic. The SYMBIOSE project represents a significant investment in the future of French industry, aiming to balance relocation with securing critical supplies from various regions.

navigating mergers and acquisitions in the evolving life sciences landscape

Life Sciences companies face a dynamic landscape driven by innovations in therapies and technologies, alongside a shift to a buyer's market due to falling valuations. To secure value from M&A and BD&L transactions, firms must minimize risks, analyze past successes, and ensure effective integration processes. Key strategies include defining value drivers, fostering cultural collaboration, leveraging technology, and emphasizing change management to align organizations and enhance synergy.

UBS maintains neutral rating for L'Oreal with target price of 440 euros

UBS has maintained a "Neutral" rating for L'Oréal with a target price of 440 euros. Analyst Guillaume Delmas highlighted concerns in the cosmetics sector, noting that Coty's sales outlook for the first quarter fell short of expectations, particularly due to weakened growth in the US market.
12:06 15.10.2024

finma orders ubS to enhance crisis contingency and liquidation plans

The Swiss Financial Market Supervisory Authority has mandated UBS to enhance its crisis contingency plan following its acquisition of Credit Suisse. UBS must develop a more comprehensive liquidation strategy that allows for market exit options without jeopardizing systemic stability or relying on taxpayer funds. Additionally, Finma has suspended the annual evaluation of the bank's stabilization and liquidation plans for this year.
11:57 15.10.2024
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