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Accenture's COO sold shares at an average price of $373.24, totaling $1.87 million, reducing their stake by 22.13%. Over the past 90 days, insiders sold 36,298 shares worth $13.37 million, while institutional investors now hold 75.14% of the company. UBS Group raised its price target for Accenture to $455, indicating a potential upside of 21.39%.
The Swiss parliament's inquiry into Credit Suisse's collapse criticized the financial regulator Finma for granting inappropriate capital relief, which masked the bank's true financial state. The report highlighted years of mismanagement at Credit Suisse and called for enhanced regulatory powers for Finma, including the ability to impose fines on banks and their executives. It also urged the government to reform the bonus system and improve crisis response measures, paving the way for new financial legislation in Switzerland.
The Swiss parliament criticized the leadership of the financial regulator Finma for its role in the collapse of Credit Suisse, highlighting a 2017 decision that obscured the bank's true financial state. The inquiry found that Finma's regulatory filter allowed Credit Suisse to appear adequately capitalized until its demise, ultimately leading to an emergency takeover by UBS. Lawmakers are now advocating for stronger regulatory powers for Finma, including the ability to impose fines on banks and individuals.
The Swiss parliament criticized the leadership of the financial regulator Finma for its role in the collapse of Credit Suisse, highlighting a 2017 decision that obscured the bank's true financial state. This regulatory filter allowed Credit Suisse to appear adequately capitalized until its demise in early 2023, despite ongoing scandals and client withdrawals. The inquiry report also noted that Finma failed to enforce accountability among Credit Suisse staff, despite identifying numerous deficiencies.
Switzerland is advancing financial regulation following Credit Suisse's collapse, with lawmakers proposing over 30 reforms. Key recommendations include empowering Finma to impose fines on banks and individuals, enhancing oversight of systemically important banks, and addressing banker bonuses linked to profitability. The government is urged to ensure banks are adequately capitalized and to develop strategies against digital bank runs.
Canal+ shares fell by 19% to 191.10 pence after UBS Group AG issued a neutral rating, citing risks from its acquisition of MultiChoice, which is experiencing declining profits in South Africa. This contrasts with CIC Market Solutions' optimistic target of 450 pence, suggesting the market has already accounted for these risks. Following Canal+'s decline, the combined value of Vivendi and its spinoffs dropped 10% from its standalone price on December 13, according to Bloomberg.
UBS shares have experienced a notable decline, currently priced at CHF 26.73, reflecting a 5.73% loss over the month and a slight drop of 0.18% from the previous day. Despite this, the financial services giant remains a leading European bank with a market capitalization of €99.8 billion, trading 11.05% below its 52-week high but 22.39% above its low. Recent analyses indicate a pressing need for action among shareholders regarding their investment decisions.
Carlo Agostinelli has departed from Ghisallo Capital Management in Hong Kong after just over a year, following his role as a managing director and responsible officer for the firm's regulatory license. Previously co-head of UBS Group AG’s Asia equity capital markets syndicate, Agostinelli joined Ghisallo in October 2023 as the firm expanded its presence in a challenging financial landscape. Ghisallo, which oversees $3.4 billion, has recently attracted talent from major banks amid a shifting market environment.
Carlo Agostinelli has departed from Ghisallo Capital Management in Hong Kong after just over a year, following the loss of his regulatory license. Previously co-head of UBS Group AG’s Asia equity capital markets syndicate, he joined Ghisallo as it sought to expand in a challenging financial environment. The firm, which manages $3.4 billion, has recently seen new entrants in the market amid ongoing changes in the region's financial landscape.
Canal+ shares fell by as much as 19% to 191.10 pence after UBS initiated coverage with a neutral rating and a price target of 240 pence, citing concerns over the company's acquisition of MultiChoice amid declining profits and cash flow losses. This outlook contrasts sharply with CIC Market Solutions, which predicts a rise to 450 pence, suggesting the market has already accounted for the associated risks. Following Canal+'s London debut, the combined value of Vivendi and its spinoffs dropped 10% from its standalone price in December.
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