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Germany is navigating a demographic shift that presents both opportunities and challenges, particularly in healthcare. Medical advancements, such as new treatments for pulmonary arterial hypertension and RSV, enhance the quality of life for older adults, while pharmacies implement innovative safety training and face economic pressures. The ongoing pharmacy reform debate highlights the need for sustainable solutions to ensure patient care remains accessible amidst rising costs and changing medication landscapes.
The SPI index fell by 0.24% to 16,092.74 points, reflecting a 1.04% decline since the start of the week. Year-to-date, the index has risen by 10.45%, with a high of 16,557.98 points and a low of 14,455.60 points recorded this year. Top performers include Schlatter Industries and EFG International, while HOCHDORF and DocMorris faced significant losses.
The SPI index on the Zurich Stock Exchange fell 0.18% to 16,103.02 points at midday, marking a weekly decline of 0.974%. Over the past year, the index has risen by 10.52%, with a current high of 16,557.98 points and a low of 14,455.60 points. Notable gainers include Schlatter Industries and Rieter, while HOCHDORF and Evolva are among the biggest losers.
Glarner Kantonalbank (GLKB) remains resilient amid a challenging market, maintaining its attractive dividend policy despite a 0.44% decline in share price last month. With a forecast dividend yield of 5.09% for 2024 and solid key figures, the stock appears well-valued, though investors should watch for the upcoming quarterly statement on February 25, 2025, for potential market insights.
The Federal Criminal Court has denied UBS's request to halt proceedings in a money laundering case linked to the Bulgarian mafia, which arose after UBS's acquisition of Credit Suisse. UBS argues that the demise of Credit Suisse should end the case, but the court insists it will proceed, allowing for a financial expert's testimony on due diligence obligations. Previously, Credit Suisse was fined for facilitating money laundering for a cocaine trafficking network.
UBS is vigorously defending itself amid allegations linked to the Bulgarian mafia, a scandal that has resurfaced in connection with Credit Suisse. The banking giant faces scrutiny as it navigates the implications of this old affair.
In the Bulgarian money laundering trial, a UBS representative declined to comment on key issues, asserting that UBS dissociates itself from Credit Suisse's involvement. The lawyer emphasized that the case, dating back 17 years, pertains to another bank and management, and he has no connection to the defendants.
In the ongoing Bulgarian money laundering trial, UBS maintains its innocence, asserting no connection to the accusations against Credit Suisse. A former banker involved with the Bulgarian Mafia expressed surprise at the lack of scrutiny from his previous employer, Julius Baer, regarding suspicious funds. The trial continues with closing arguments scheduled until October 10.
UBS is held accountable for the criminal actions of Credit Suisse (CS) regarding the Bulgarian drug mafia, as ruled by the Federal Criminal Court. Despite UBS's arguments that it should not inherit CS's legal issues, the court affirmed UBS's status as CS's legal successor, complicating its appeal following a guilty verdict against CS for anti-money laundering violations. The case is further complicated by the death of a co-defendant, raising questions about the validity of the conviction against the now-defunct CS.
On Wednesday, the SPI index in Zurich fell 0.20% to 16,099.50 points, marking a decline of 0.996% since the start of the week. The index has risen 10.50% year-to-date, with a high of 16,557.98 points and a low of 14,455.60 points recorded this year. Schlatter Industries and Rieter led the gains, while HOCHDORF and Evolva faced significant losses.
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