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public transport struggles in cities amid rise of home office work

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.

ubs downgrades galenica stock to neutral amid regulatory concerns

UBS analyst Sebastian Vogel has downgraded Galenica AG's stock rating from Buy to Neutral, lowering the price target to CHF83.00 from CHF83.50 due to concerns over upcoming regulatory changes affecting over-the-counter drug distribution by fiscal year 2028. While long-term revenue potential remains positive, the winding down of the flu season reduces immediate performance catalysts. UBS projects a 3.0% dividend yield for fiscal year 2026, aligning with the company's historical average, indicating limited short-term stock performance drivers.

stock market update smi slightly lower as autoneum shares slump

In Asian forex trading, the yen remained stable against the dollar ahead of the Bank of Japan's interest rate decision, while the dollar slightly rose against the yuan and Swiss franc. Oil prices dipped amid speculation of increased OPEC production, with North Sea Brent crude at $78.73 per barrel. US markets saw gains, with the Dow Jones up 0.3% and Netflix experiencing significant subscriber growth, boosting its shares nearly 10%. Concerns over Trump's tariff plans on Chinese imports weighed on the dollar, which faced headwinds as clarity on trade negotiations remained elusive.

independent pharmacies thrive through innovation and community support in switzerland

Michèle Ammann, a 32-year-old pharmaceutical assistant, is successfully running an independent pharmacy in St. Gallen, defying the growing dominance of large chains in Switzerland. With support from the Rotpunkt association, she has implemented automation to enhance efficiency, allowing her team to focus more on customer service. Despite the trend towards consolidation in the pharmacy market, Ammann"s entrepreneurial spirit exemplifies the potential for independent pharmacies to thrive.

mixed economic signals as services grow and manufacturing contracts in october

October PMI data reveals mixed sector performance, with the US Composite PMI rising to 54.3, driven by services, while manufacturing continues to contract. In the Eurozone, the PMI index slightly improved to 49.7, indicating ongoing challenges in manufacturing despite a modest slowdown in the decline. On the corporate front, Tesla exceeded expectations with a net income of $2.18 billion, while Galenica in Switzerland reported a 4.1% sales increase, outperforming the pharmaceutical market's 2.9% growth, largely due to anti-cold medicine sales.
12:00 28.10.2024
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