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UBS, after a record profit of $28 billion last year, is struggling in the stock market, with shares up only 4% this year, lagging behind major competitors like Morgan Stanley and Goldman Sachs. The merger with Credit Suisse has not yielded the expected cost savings, leading to increased stress among employees and skepticism among clients. UBS's market capitalization has seen minimal growth, raising concerns about its future performance amid political uncertainties and competition.
UBS has decided to discontinue the political donations previously made by Credit Suisse, which amounted to CHF 1 million annually. This change will significantly impact conservative parties, particularly the SVP, which will lose CHF 160,000, while the SP-affiliated Anny Klawa Morf Foundation faces a substantial funding shortfall due to the absence of CS contributions.
The Swiss franc (CHF) is the official currency of Switzerland, Liechtenstein, and Campione d'Italia, known for its stability and status as a safe-haven asset. It is the only franc still issued in Europe, with a strong demand following the 2008 financial crisis, leading to significant fluctuations in value. As of October 2024, the CHF is valued at $1.1664, reflecting its strength against the U.S. dollar.
Martin Schlegel, the newly appointed president of the Swiss National Bank (SNB), highlighted significant geopolitical risks during his inaugural speech in Bellinzona. He projected subdued economic growth, estimating a GDP increase of just 1 percent for the year, below the long-term average. The visit was met with pride from local officials, including Christian Vitta, head of the Ticino Department of Finance and Economy.
Swiss political parties are anxious about the potential loss of substantial donations following UBS's acquisition of Credit Suisse, which had previously contributed up to one million francs to conservative parties. UBS has indicated it may not increase its donation volume, leaving parties reliant on past contributions to navigate an expensive election year.
Elisabeth Baume-Schneider, after nine months in office, is tackling challenges in the healthcare sector with the EFAS bill aimed at unifying outpatient and inpatient service financing. Facing opposition from her own party, she must also address the financing of the 13th AHV pension and consider alternatives to VAT increases, while ensuring the FDHA effectively combats racism in Switzerland.
AEVIS VICTORIA SA's share price increased slightly by 0.17% to EUR 14.88 on October 11, 2024, despite a year-on-year decline of 23.42%. The company forecasts a dividend of EUR 0.45 per share for 2024, yielding 2.80%, but faces significant financial challenges, reflected in a price-to-earnings ratio of -276.00. Shareholders are urged to consider their options as the market remains volatile.
Glarner Kantonalbank (GLKB) demonstrated stability amid market volatility, with shares trading at EUR 22.85, a slight decline of 0.22% from the previous day, but a notable 1.78% increase over the past month. The bank's attractive P/E ratio of 10.60 and a forecast dividend yield of 5.09% may enhance investor interest and support share prices moving forward.
Glarner Kantonalbank (GLKB) demonstrates resilience amid market volatility, with a 1.56% increase in share price over the past month and a market capitalization of €308.5 million. The bank plans to distribute a dividend of €1.10 per share for 2024, yielding 5.09%, alongside a favorable P/E ratio of 10.60, making it an attractive option for investors during uncertain economic times.
Two-thirds of tenants may soon qualify for rent reductions as the Zurich Cantonal Bank forecasts a drop in the benchmark mortgage rate by March 2025. This change will benefit those who faced recent rent increases, particularly from institutional landlords, who have historically passed on such hikes more frequently than private landlords. Additionally, many tenants who have not previously requested rent decreases may also take action in light of the anticipated rate changes.
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Two thirds of tenants may soon qualify for rent reductions
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