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Public transport in cities is struggling due to the rise of remote work, with Zurich and Basel reporting significant passenger declines compared to pre-pandemic levels. In contrast, transport companies in agglomerations are thriving, and Lausanne's public transport has seen growth.The Federal Council has drastically reduced interest rates for Covid-19 loans, with rates dropping to 0.25% for loans up to CHF 500,000. Meanwhile, UBS is rumored to consider relocating its headquarters abroad if capital regulations tighten, as Swiss authorities demand a CHF 25 billion increase in capital.
The Swiss stock market remained positive following the Swiss National Bank's decision to cut its key interest rate by 25 basis points to 0.25%. Analysts expect this to be the last cut for the year, with inflation forecasts suggesting no need for further reductions. The SMI index rose by 0.11%, led by Nestlé, while Swissquote shares fell by 7.7% despite reporting a strong fiscal performance.
The Swiss stock market remained positive as the Swiss National Bank (SNB) cut its key interest rate by 25 basis points to 0.25%, a move anticipated by analysts. The SMI index rose by 0.11%, led by Nestlé and Alcon, while Swissquote shares fell 7.7% despite reporting a strong fiscal performance. HOCN shares surged 19% amid plans to appeal a delisting decision.
UBS CEO Sergio Ermotti earned 14.9 million Swiss francs in 2024, including a fixed salary of 2.8 million and bonuses of 12.1 million. His remuneration, a 4% increase from the previous year, has sparked criticism and debate over high bonuses in Switzerland, especially as it remains lower than some German CEOs. A parliamentary proposal to cap bankers' salaries at 3 to 5 million Swiss francs could significantly impact UBS if approved.
Partners Group is set to acquire an energy asset management platform and a portfolio of 11 gas-fired power plants in California from Avenue Capital Group for $2.2 billion. This deal includes Middle River Power, which focuses on on-site battery energy storage systems, crucial for grid reliability amid rising power demand driven by data centers and increased electricity use in homes and businesses. The transaction highlights the growing importance of natural gas and battery storage in supporting the U.S. energy infrastructure.
UBS has faced criticism over CEO Sergio Ermotti's 2024 salary of CHF 14.9 million, despite a slight decrease in his bonus. Political figures and the proxy advisor Ethos have expressed concerns about high executive pay, with proposals to cap banking sector salaries gaining traction. Meanwhile, UBS is also navigating increased capital requirements to mitigate risks following the Credit Suisse integration.
Partners Group has sold Greenlink, a 504-megawatt undersea electricity interconnector between Great Britain and Ireland, for an enterprise value of 1 billion euros ($1.09 billion) to Baltic Cable and Equitix. The firm was advised by UBS, Clifford Chance, and Arthur Cox during the transaction.
Swiss private equity firm Partners Group has sold Greenlink, a 504 megawatt subsea electricity interconnector between Great Britain and Ireland, for an enterprise value of 1 billion euros ($1.09 billion). The transaction was advised by UBS, Clifford Chance, and Arthur Cox.
UBS CEO Sergio Ermotti will receive a total remuneration of CHF 14.9 million in 2024, reflecting a stable salary despite a slight reduction in his bonus. His leadership during the integration of Credit Suisse has been acknowledged, although high bonuses continue to provoke public backlash in Switzerland, prompting discussions in parliament about capping bank salaries. In comparison, Ermotti's earnings are surpassed by leaders in other sectors, such as Partners Group and Novartis.
UBS CEO Sergio Ermotti will receive a total remuneration of CHF 14.9 million for 2024, reflecting a slight increase from the previous year's CHF 14.4 million. Despite criticism over high salaries in the banking sector, Ermotti's pay remains below that of leaders in other industries, such as Partners Group and Novartis. UBS reported an adjusted pre-tax profit of USD 8.8 billion for 2024, bolstered by higher revenues and successful integration of Credit Suisse.
Axon Partners Group, S.A.
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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