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Lloyds Banking Group anticipates a 50% increase in property completions for March as buyers rush to finalize purchases before new Stamp Duty rules take effect on April 1, 2025. The nil-rate threshold will drop from £250,000 to £125,000, impacting first-time buyers and home movers significantly. To avoid higher taxes, buyers must complete transactions by March 31, with Lloyds urging conveyancers to submit Certificates of Title by March 25 to ensure timely processing.
UBS faces a critical debate over its capital requirements following its takeover of Credit Suisse, with the bank arguing it is well-capitalized while economists demand 100% backing for foreign subsidiaries. The potential cost of this requirement could reach CHF 22 billion, impacting dividends and share buybacks, which UBS warns would diminish its attractiveness to investors and competitiveness. The discussion highlights the tension between ensuring financial stability and the economic implications for the bank and Swiss economy.
UBS's chairman and CEO have dismissed concerns about the bank's size following its acquisition of Credit Suisse, arguing that UBS's low-risk model and high asset quality make it safer than its predecessor. They support measures to enhance financial system resilience but caution against excessive capital requirements that could hinder competitiveness. UBS reported a profit of $5.1 billion for 2024 and proposed a dividend of $0.90 per share for shareholders.
Wells Fargo has confirmed the termination of the 2021 consent order issued by the Office of the Comptroller of the Currency (OCC). This marks a significant step for the bank as it moves forward from regulatory scrutiny.
Glarner Kantonalbank's share price rose by 0.43% to EUR 23.40 on March 17, 2025, despite a monthly decline of 3.11%. The bank shows long-term stability with a year-on-year increase of 0.86% and is trading 52.99% above its 52-week low, making it an attractive investment in the banking sector. With a P/E ratio of 12.15 and a market capitalization of 315.9 million euros, the bank remains appealing to investors seeking stability amidst short-term fluctuations.
Jesus JCR has called for the immediate reversal of Jesus College's lease agreement with Barclays Bank, citing concerns over the bank's alleged involvement in financing companies linked to the Gaza conflict. The motion, passed with significant support, highlights ethical issues surrounding Barclays' practices, including its investments in fossil fuels and military technology used in attacks on Palestinians. In response, the College confirmed Barclays' upcoming move to a new location and emphasized its commitment to engaging with student concerns while focusing on its academic mission.
UBS has maintained a "Neutral" rating on Allianz with a target price of 320 euros. The insurer plans to reinvest proceeds from a share sale in a joint venture in India to further its strategic goals in the region, rather than distributing the funds to shareholders.
UBS's provisions for legal cases decreased to USD 3.60 billion at the end of 2024, down from USD 4.02 billion in 2023. The bank utilized USD 2.13 billion for litigation, while new provisions of USD 321 million were created. A significant ongoing case involves tax litigation in France, where UBS faces potential fines and damages related to unlawful solicitation of wealthy clients.
UBS CEO Sergio Ermotti's salary of CHF 14.9 million has sparked public outrage and calls for a salary cap for bankers, with critics arguing that such compensation is excessive. While Ermotti's pay includes a fixed salary of CHF 2.8 million and performance bonuses, some politicians advocate for limits to ensure moderation in executive compensation. The National Council is set to discuss a proposed cap on bankers' salaries, reflecting growing concerns over income inequality in the financial sector.
UBS's chairman and CEO have dismissed concerns about the bank's size following its acquisition of Credit Suisse, arguing that UBS's low-risk model and high asset quality make it safer than its predecessor. They emphasized the importance of maintaining competitive capital requirements while supporting government proposals for a more resilient financial system. UBS reported a profit of $5.1 billion for 2024 and plans to distribute a $0.90 per share dividend to shareholders.
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lloyds banking group prepares for stamp duty deadline surge in completions
01:03 18.03.2025
UBS capital debate intensifies amid concerns over financial stability and requirements
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