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UBS will redeem EUR 1.5 billion in floating rate senior callable notes issued by Credit Suisse ahead of schedule on January 16, 2025, instead of the original maturity date in January 2026. The bonds, with a 4.206% annual coupon, were last traded at 100.09% and had previously dropped below 65% during the CS crisis in March 2022. This follows UBS's earlier redemption of two other CS bonds totaling $2 billion and £750 million in September.
UBS will redeem EUR 1.5 billion in floating rate senior callable notes issued by Credit Suisse early, on January 16, 2025, instead of the original maturity date in January 2026. This bond, with a 4.206% annual coupon, was last traded at 100.09% and had previously dropped below 65% during the CS crisis in March 2022. This marks UBS's second early repayment of Credit Suisse bonds, following the redemption of two bonds totaling $2 billion and £750 million in September.
Baloise will expand its Board of Directors next year, increasing the number from nine to ten members. Christoph Gloor and Hans-Jörg Schmidt-Trenz will not seek re-election, with André Helfenstein and Vincent Vandendael proposed as replacements. Cevian, the largest shareholder, will be represented by Robert Schuchna, as the company aims to enhance its expertise in insurance and finance through a new "refocusing" strategy.
Baloise will expand its Board of Directors from nine to ten members, with André Helfenstein and Vincent Vandendael replacing Christoph Gloor and Hans-Jörg Schmidt-Trenz, who are not seeking re-election. Robert Schuchna will represent major shareholder Cevian, which holds nearly 10% of the company. This restructuring aims to enhance the company's insurance and financial expertise as part of a refocusing strategy to develop new services and strengthen its core business in European markets.
Baloise will expand its Board of Directors next year, increasing the number of members from nine to ten. Christoph Gloor and Hans-Jörg Schmidt-Trenz will not seek re-election at the General Assembly on April 25, 2025, with André Helfenstein and Vincent Vandendael proposed as their replacements. Additionally, Robert Schuchna from major shareholder Cevian will join the board, reflecting the company's strategy to enhance its expertise in insurance and finance.
Baloise will expand its Board of Directors from nine to ten members, with André Helfenstein and Vincent Vandendael replacing Christoph Gloor and Hans-Jörg Schmidt-Trenz, who are not seeking re-election. Robert Schuchna will represent major shareholder Cevian, which holds nearly 10% of the company. This restructuring aims to enhance the company's insurance and financial expertise as part of a refocusing strategy to develop new services and strengthen its core business in European markets.
Crédit Agricole has been upgraded to category 2 on the Financial Stability Board's list of systemically important banks, requiring it to hold more capital to withstand financial shocks. The list, which includes 29 banks, saw Bank of America drop to category 2, while UBS was moved up to category 2 following its acquisition of Credit Suisse. The highest capital requirements are for JP Morgan Chase, classified in category 4.
Beijing State-Owned Assets Management plans to sell its entire 33 percent stake in UBS Securities for at least CNY1.5 billion (USD212.2 million). UBS, which increased its ownership to 67 percent in 2022, is in the process of acquiring full control. Additionally, BSAM recently became the largest shareholder in Credit Suisse Securities China after acquiring a significant stake, pending regulatory approval.
A potential clash between JD Vance and Elon Musk is anticipated, with significant implications for the stock market and the future of American technology. Vance opposes big tech and advocates for decentralization, while Musk supports a technopolitical merger with government, reflecting a broader ideological battle in the post-Trump era. The outcome could reshape the dominance of tech giants and influence equity markets, particularly the Nasdaq.
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As obesity rates soar globally, glucagon-like peptide-1 (GLP-1) receptor agonists are gaining traction for their significant weight-loss potential, with some users shedding up to 20% of their body weight. The market for these medications is projected to exceed USD 160 billion by 2031, driven by their effectiveness in treating various metabolic and systemic conditions, including type 2 diabetes and sleep apnea. However, challenges such as side effects, high costs, and limited availability may hinder long-term patient compliance, despite the growing demand for innovative obesity treatments.
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