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UBS has maintained a 'Buy' rating for Bilfinger, setting a target price of 59 euros following a positive investor event. Analyst Gregor Kuglitsch highlighted the company's strong margin and liquidity potential, reinforcing confidence in its future performance. As of December 5, Bilfinger's stock was trading at 44.60 euros, reflecting a slight decline of 0.78%.
The wealth of billionaires has surged by 121% over the past decade, reaching $14 trillion in 2024, outpacing global stock market growth. While North American billionaires saw consistent increases, Chinese fortunes peaked before declining, and real estate wealth lagged due to market corrections and rising interest rates. The number of billionaires rose from 1,757 to 2,682 during this period.
The European Central Bank is aiming to expedite the approval process for significant risk transfers (SRTs) to help banks capitalize on increasing demand for these transactions. Under proposed changes, banks could submit SRT information just two weeks before deal completion, a reduction from the current three-month requirement.
The Swiss economy experienced a modest growth of 0.2% in the third quarter, supported by rising real incomes and private consumption, despite global economic challenges. While the chemicals and pharmaceuticals sectors show resilience, other industries, particularly automotive manufacturing, face export declines due to weak EU demand and a strong franc. The Swiss National Bank is responding to economic risks by considering interest rate cuts to mitigate upward pressure on the currency.
A Russian court has denied Raiffeisen Bank International's appeal to unfreeze shares in its local branch, linked to a lawsuit from Rasperia seeking $2 billion in damages. The court's decision hinders the bank's exit from Russia and complicates Western efforts to sever ties with Moscow. The next hearing is set for December 25.
A Russian court has denied Raiffeisen Bank International's appeal to unfreeze its local subsidiary's shares amid a lawsuit from Rasperia, which is seeking approximately $2 billion in damages. The court's decision hinders RBI's exit from Russia and complicates Western efforts to sever ties with Moscow. The next hearing is set for December 25.
President Vladimir Putin has lifted the requirement for payments for Russian natural gas to be made through Gazprombank, allowing European buyers to use other banks. This move alleviates concerns over US sanctions potentially disrupting gas supplies to Europe, leading to a 2.3% drop in European benchmark prices.
Electricity prices surged over 800 euros per megawatt hour amid a lack of solar and wind power in early November, raising concerns about future energy shortages in Switzerland. Axpo CEO Christoph Brand emphasizes the urgent need for expanding wind power and considering gas-fired plants to ensure energy security, especially as nuclear power plants are phased out. He warns that relying solely on hydropower and solar energy will not suffice, highlighting the necessity for a diverse energy mix to prevent blackouts in winter.
A UBS study reveals that billionaires have seen their wealth more than double over the past decade, with a 121% increase to 13.3 trillion euros. The number of billionaires rose by 50% since 2015, totaling 2,682 as of April 2024, with tech billionaires experiencing the highest growth. Investment trends show a shift towards real estate, precious metals, and cash reserves amid geopolitical concerns, while one in 15 billionaires has relocated since the pandemic, seeking political stability and quality healthcare in destinations like Switzerland and the UAE.
The wealth of billionaires worldwide has more than doubled in nearly a decade, rising from $6.3 trillion in 2015 to $14 trillion in 2024, outpacing global stock market growth. This surge is primarily driven by the technology sector, where fortunes tripled to $2.4 trillion. While North American billionaires saw consistent gains, Chinese billionaire wealth peaked in 2020 before declining, and real estate fortunes lagged due to market corrections and rising interest rates.
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UBS Maintains Buy Rating for Bilfinger with Target Price of 59 Euros
20:16 05.12.2024
Billionaire Wealth Surges Over Ten Years Outpacing Global Stock Market Growth
19:08 05.12.2024
ECB Proposes Faster Approval Process for Significant Risk Transfers
18:26 05.12.2024
Swiss Economy Faces Mixed Manufacturing Trends Amid Global Challenges
18:15 05.12.2024
Russian Court Upholds Share Freeze on Raiffeisen Bank Amid Legal Dispute
17:45 05.12.2024
Russian Court Upholds Share Freeze on Raiffeisen Amid Rasperia Lawsuit
17:45 05.12.2024
Russia Eases Gas Payment Rules for European Buyers Amid Sanctions Concerns
17:30 05.12.2024
Energy Security Concerns Rise as Switzerland Faces Nuclear Shutdown and Demand Growth
17:27 05.12.2024
Billionaires Wealth Doubles in a Decade Amid Shifting Investment Strategies
17:25 05.12.2024
Billionaire Wealth Doubles in a Decade Driven by Technology Sector Growth
17:25 05.12.2024
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