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Raiffeisen Bank International AG (RBI) announced a tender offer to repurchase its EUR 650,000,000 Fixed to Reset Rate Additional Tier 1 Notes, originally issued in 2017, at a purchase price of 101.875%. The offer, which begins on November 18, 2024, and ends on November 25, 2024, is contingent on market conditions and is not available in the United States or other restricted jurisdictions. Holders must comply with local legal provisions when participating.
UBS Asset Management has appointed Rory Tobin as a senior advisor to enhance its ETF and indexing capabilities, aiming to solidify its position among the top five ETF providers in EMEA. With 35 years of industry experience, including leadership roles at State Street Global Advisors and BlackRock, Tobin will report to president Aleksandar Ivanovic and collaborate with the Asset Management team to drive global expansion. Following the acquisition of Credit Suisse, UBS has emerged as a leading index provider in Europe, poised to meet growing client demand in key markets.
John Bolton, former national security adviser, argues that Switzerland should join NATO, stating that its tradition of neutrality is no longer viable in the current geopolitical climate. He warns that under a potential second Trump term, transatlantic relations could deteriorate, with threats of new tariffs and possible U.S. withdrawal from NATO. Bolton emphasizes the importance of collective defense and urges European nations to increase their military spending.
Commerzbank AG shares could rise by 35% if Italian bank UniCredit SpA proceeds with a takeover bid, potentially offering up to €21 per share, according to KBW analysts. Currently trading around €16, Commerzbank's stock may face a 20% decline if UniCredit opts not to pursue the acquisition.
The Exploration Company has secured $160 million in a Series B funding round, led by Balderton Capital and Plural, to advance its Nyx cargo spacecraft for commercial space stations. The Nyx Earth can transport up to four tons of cargo to low Earth orbit, with plans to expand to cislunar space. The company has contracts with Axiom Space, Starlab Space, and Vast, and aims to redefine European leadership in space exploration.
R+V Versicherung is restructuring its Management Board, with Dragica Mischler leading the new Finance & Risk Management division starting April 1, 2025. Meanwhile, HDI Global reports an 11% increase in insurance sales to EUR 7.3 billion and a rise in operating results to EUR 479 million after three quarters. Allianz has launched the "Power of Unity" initiative to restore trust in societal institutions and appointed new executives in its Commercial division.
UBS's emergency takeover of Credit Suisse in March last year has led to significant changes in the mutual fund landscape. Over the past 18 months, UBS has merged approximately €4.5bn worth of Credit Suisse funds into its own offerings, streamlining its asset management services.
Financial markets are adjusting expectations regarding the next US treasury secretary, anticipating a commitment to tax increases and potential tariffs that could impact trade dynamics, particularly with China. As Eurozone trade data emerges, the focus on economic nationalism and bilateral trade balances intensifies, while industrial production shows signs of softness across major economies. ECB officials are set to speak, but the Federal Reserve remains the primary source of market uncertainty.
Joachim Nagel, a member of the European Central Bank Governing Council, has expressed concerns over the rising threat of geoeconomic fragmentation following Donald Trump's victory. He warned that this could lead to increased challenges for central banks, including heightened inflation volatility. Nagel emphasized the need for renewed cooperation and free trade to counteract these troubling trends.
Private debt is rapidly evolving, presenting significant opportunities for investors and borrowers, particularly as banks shift focus from smaller businesses to larger corporate clients. This shift has led to the rise of private credit, projected to reach $2.8 trillion in assets by 2028, as non-bank lenders step in to fill the void left by traditional banks. The gradual repeal of the Glass-Steagall Act has further accelerated this trend, enabling increased bank mergers and a reduction in lending to smaller enterprises.
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Raiffeisen Bank International announces tender offer for Additional Tier 1 Notes
09:59 18.11.2024
ubs asset management appoints rory tobin as senior advisor for etfs
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09:43 18.11.2024
John Bolton advocates for Switzerland's NATO membership amid changing geopolitical landscape
09:32 18.11.2024
commerzbank shares could rise 35 percent on potential unicredit takeover
09:30 18.11.2024
exploration company secures 160 million for nyx cargo spacecraft development
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09:28 18.11.2024
insurance sector updates management changes and growth in sales and earnings
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09:24 18.11.2024
ubs merges credit suisse mutual funds in strategic consolidation move
09:02 18.11.2024
US trade policies face scrutiny amid shifting economic landscape and tariffs
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09:00 18.11.2024
central bank warns of rising global economic fragmentation risks
09:00 18.11.2024
the evolution of private credit in the wake of banking consolidation
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08:46 18.11.2024
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