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UK budget expectations signal cautious approach and potential market reactions
The Labour government is set to unveil its first budget in 14 years on October 30, aiming to manage expectations by pre-releasing negative information to avoid market instability. With a cautious approach following the Conservative Party's previous economic turmoil, no increases in income tax, VAT, or National Insurance are expected.Investors may see a relief rally in UK stocks and a strengthening of the pound, despite potential challenges for sectors like gambling and wealth management. Anticipated changes to capital gains tax could impact investment, while infrastructure investments may boost housing stocks, particularly benefiting major builders like Barratt Redrow.
ubs aims for leadership in european investment banking amid us competition
UBS aims to become the leading European investment bank while expanding its market share in the USA, where M&A activity is robust. Despite facing challenges from dominant US banks and ongoing integration work with Credit Suisse, UBS is positioned for growth, having acquired top M&A advisors and showing potential for upward movement in league tables. The M&A advisory business is expected to gain momentum, with optimism surrounding upcoming large transactions.
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