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UBS has postponed its net zero emissions target from 2025 to 2035, influenced by the acquisition of Credit Suisse. The bank also withdrew its goal for 20% of assets under management to align with net zero by 2030, while reaffirming its commitment to the Net-Zero Banking Alliance and setting interim targets for emissions reduction.
UBS shares fell by 1.7% to CHF 29.05 at midday, marking a low of CHF 28.60 for the day. The stock, which has a 52-week high of CHF 32.88 and a low of CHF 22.53, is expected to yield a dividend of USD 1.15 this year, despite a 45.47% drop in revenue to CHF 10.21 billion in the last quarter.
Investors are optimistic about the potential lifting of Wells Fargo's asset cap in 2025, following the bank's resolution of five regulatory actions this year. With three consent orders remaining, analysts believe the bank's efforts under CEO Charlie Scharf could lead to enhanced earnings growth and new investment opportunities. As competitors expand, Wells Fargo may also explore acquisitions once the cap is lifted.
Zuger Kantonalbank has expanded its cryptocurrency offerings to include Cardano (ADA) and Avalanche (AVAX) through a partnership with Sygnum, enhancing its digital asset services. This move responds to growing client demand for diverse investment options and aligns with regulatory advancements in the crypto space. Security measures are prioritized, with assets secured via Sygnum’s institutional-grade custody platform, ensuring a user-friendly experience for clients managing their digital assets.
Wells Fargo has successfully terminated another consent order from the Office of the Comptroller of the Currency, related to its Home Lending practices, marking the 11th closure of regulatory orders since 2019. The bank is now down to potentially three remaining consent orders, including those from the Federal Reserve, which imposed a $1.9 trillion asset cap following a customer account scandal. CEO Charlie Scharf expressed confidence in resolving the remaining issues, while total penalties from regulatory actions have exceeded $11.14 billion.
Swiss lawmakers have approved tighter banking regulations following the collapse of three US regional banks, which raised concerns about Credit Suisse's stability. The government facilitated UBS's $3.25 billion takeover of Credit Suisse to prevent a potential global banking crisis. Despite new measures, officials warn that no system can guarantee complete safety against future financial crises.
Zuger Kantonalbank has partnered with Sygnum Bank to enhance its e-banking and mobile app services by adding support for Cardano (ADA) and Avalanche (AVAX) trading, expanding its crypto offerings to nine assets. This move responds to growing demand for cryptocurrencies amid favorable regulatory changes in key markets. The collaboration also leverages Sygnum’s secure custody solutions, ensuring customer assets are protected with multi-layer security and off-balance sheet segregation.
German antitrust authorities have set an April 14 deadline for a potential initial approval of UniCredit's application to acquire a significant stake in Commerzbank. The CEO of UniCredit noted that the authorization process is taking longer than anticipated.
The German regulator has set an April deadline for any initial approval regarding the potential merger between UniCredit and Commerzbank. Investors are reminded that trading in financial instruments and cryptocurrencies carries significant risks, including the possibility of losing the entire investment. Prices can be highly volatile and influenced by various external factors.
Deutsche Bank has upgraded Banca Monte dei Paschi di Siena SpA (BMPS:IM) from Hold to Buy, raising the price target from EUR7.50 to EUR8.60. Analyst Giovanni Razzoli noted that despite a recent recovery, MPS still trades at a 15% discount to peers, but potential benefits from a tender offer for Mediobanca could enhance MPS's earnings and dividends, justifying the upgrade.
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ubs delays net zero targets by ten years amid credit suisse acquisition
United States Dollar
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13:30 19.03.2025
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12:20 19.03.2025
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