Switzerland seeks a free trade agreement with the US to enhance market access for its exporters, especially amid rising trade barriers. While the Biden administration favors collaboration, the potential return of Trump could reignite tariffs, impacting Swiss businesses reliant on the US market. Harris's approach may favor negotiations with allies, which could benefit Switzerland amidst US-China tensions.
UBS has initiated coverage of Standard Aero Inc (NYSE: SARO) with a Neutral rating and a price target of $34.00, citing growth potential from aging aircraft fleets and key engine platforms, despite concerns over high valuation multiples. The company recently completed an IPO, raising $1.201 billion, while RBC Capital and JPMorgan have given more optimistic ratings, projecting significant sales growth in the engine maintenance sector. However, Standard Aero faces financial challenges, including a negative EPS and weak gross profit margins, which contribute to UBS's cautious outlook.
Global finance leaders expressed deep concerns over the potential return of Donald Trump in the upcoming U.S. presidential election, fearing it could trigger a U.S.-EU trade war with significant tariff increases and increased debt. Discussions at the IMF and World Bank meetings highlighted worries about the impact on the global financial system and setbacks in climate change efforts due to a shift towards fossil fuels.
AUD/USD is poised for its largest monthly decline since September 2022, with an expected drop of about 4.8% in October, closing last week at 0.6604. The upcoming US election could further impact the currency pair, with a potential Republican sweep likely to strengthen the USD, while a divided Congress may support AUD/USD. Technical analysis indicates a bearish trend, with key support levels at 0.6500 and 0.6380 - 0.6350.
Donald Trump held a rally at Madison Square Garden, where he emphasized his plans for immigration reform and criticized Kamala Harris, calling her a "very low IQ individual." The event featured controversial remarks from speakers, including racist and misogynistic comments, which drew backlash. Meanwhile, Harris continues to rally support, highlighting her commitment to investing in Puerto Rico and contrasting her campaign's message with Trump's divisive rhetoric as polls show a tight race ahead of the election.
The "Washington Post" has decided not to endorse any presidential candidate for the first time in decades, sparking significant backlash and accusations of appeasing Donald Trump. Critics within the editorial team and former staff express that this move undermines the newspaper's commitment to journalistic integrity, especially during a time when press freedoms are at risk. Many readers have voiced their discontent, with some canceling subscriptions, claiming the paper has strayed from its mission to serve the public interest.
Kamala Harris is actively working to convince Black Americans that she can help close the longstanding racial wealth gap, especially as Donald Trump gains support among this demographic. Her campaign emphasizes an "opportunity economy," focusing on initiatives for first-time homeowners and aspiring entrepreneurs, with a particular emphasis on benefits for Black men. Harris's platform promises to equip them with the necessary tools to build wealth and achieve financial independence.
Iran downplayed the impact of Israeli airstrikes on its military targets, claiming limited damage, while U.S. President Biden urged de-escalation amid rising tensions following Iran's missile attack on Israel. Israel's strikes targeted missile factories and military sites, with no involvement from the U.S. in the operation. Both nations are navigating a precarious situation, with fears of broader conflict escalating in the region.
In a recent interview with Joe Rogan, Donald Trump reaffirmed his proposal to replace income taxes with tariffs, arguing that it would protect American jobs and industries. He suggested a 20% tariff on all imports, particularly targeting China, but experts warn this plan could lead to a $3 trillion deficit over a decade and disproportionately burden low-income families. Vice President Kamala Harris echoed these concerns, labeling the tariffs as a de facto sales tax on essential goods.
Gold prices have reached record highs, prompting discussions on whether it's still a good time to invest. Meanwhile, the EU economy shows signs of weakness, yet equities perform well. Additionally, the U.S. faces massive debt challenges, with questionable restructuring proposals from Donald Trump and a lack of convincing fiscal policy from Kamala Harris.
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