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A group of campaigners is urging the U.S. Department of Labor to revoke UBS's exemption from regulations that allow it to manage American pension assets, citing the bank's history of nearly 100 offenses and $20 billion in penalties since 2000. UBS, which has submitted a 500-page application to extend its exemption, argues that past issues were due to individual staff actions. The bank has faced significant legal challenges, including a €4.5 billion fine in France for tax evasion and a $46 million settlement over antitrust allegations.
Activists are lobbying the U.S. Department of Labor to revoke UBS's exemption from regulations that allow it to operate in the U.S. pension market, citing the bank's history of nearly 100 offenses and $20 billion in penalties since 2000. UBS, which has faced significant fines for tax evasion and collusion, is seeking to extend its exemption, which expired in June. Critics argue that the financial penalties are insufficient to deter criminal behavior, as they often prove more profitable than the fines incurred.
UBS shares are showing strong buy signals, indicating a high probability of continued price increases following a recent breakout above key resistance levels. Historically, since 2012, the stock has consistently risen above October price levels in ten out of eleven years, often achieving gains exceeding ten percent by February or March.
Investors who purchased UBS shares three years ago at CHF 15.78 would now hold 6.337 shares valued at CHF 172.75, reflecting a 72.75% increase in their investment. As of October 11, 2024, the last trading price was CHF 27.26, with UBS's market capitalization at CHF 87.41 billion.
Givaudan AG, a leading global producer of flavors and fragrances, reports that flavors account for 52.1% of sales, while fragrances make up 47.9%. The company operates 78 production sites worldwide, with sales distributed across various regions: Switzerland (1.2%), Europe (29%), Asia-Pacific (24.6%), North America (23.9%), Latin America (12.3%), and Africa and the Middle East (9%).
BNP Paribas has seen over 25% growth in assets under management in Switzerland, driven by a strategic focus on the German-speaking market and the fallout from Credit Suisse's collapse. CEO Beat Bachmann highlights the bank's unique integration of wealth management and corporate services, attracting entrepreneurial families seeking diversification. Despite this success, he notes that BNP Paribas is still in the early stages of its onshore business in Switzerland.
The global contract development and manufacturing organization (CDMO) market, valued at USD 130.8 billion in 2018, is projected to reach USD 278.98 billion by 2026, growing at a CAGR of 10.0%. This growth is driven by rising demand for novel therapies, increasing complexity of treatments, and strategic partnerships between pharmaceutical companies and CDMOs. Key trends include market consolidation and significant investments in infrastructure, while challenges such as stringent regulations may hinder growth.
Michaela Ernst, born in 1968, is the Head of Digitalization & Services and a member of the Executive Board at Schwyzer Kantonalbank (SZKB), a leading bank in the canton of Schwyz. With a background in economics and extensive experience in corporate development, she emphasizes that diversity enhances innovation. Ernst's personal motto reflects a pragmatic approach to challenges.
Glarner Kantonalbank (GLKB) saw a slight price increase of 0.22% to EUR 22.85 on October 13, 2024, despite ongoing challenges, including a year-on-year decline of 7.11%. The share's price/earnings ratio stands at 10.60 for 2024, with a forecast dividend yield of 5.09%, suggesting potential interest for investors. However, recent analyses indicate an urgent need for action among shareholders regarding whether to buy or sell.
Half of the cantons anticipate budget deficits by 2025, with Vaud facing the largest shortfall of 303 million francs. While many are implementing cost-cutting measures, some cantons like Zug expect revenue growth due to population increases. Canton Bern, however, reports a surplus and plans to reduce personal income tax.
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