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UBS shares have experienced a notable decline, currently priced at CHF 26.73, reflecting a 5.73% loss over the month and a slight drop of 0.18% from the previous day. Despite this, the financial services giant remains a leading European bank with a market capitalization of €99.8 billion, trading 11.05% below its 52-week high but 22.39% above its low. Recent analyses indicate a pressing need for action among shareholders regarding their investment decisions.
The parliamentary commission of inquiry (CEP) is set to unveil its report today on the federal authorities' handling of the Credit Suisse crisis, which culminated in UBS's hurried acquisition of the bank in March 2023. After 18 months of investigation, the CEP analyzed the crisis in four phases, from pre-crisis management to the emergency merger's implementation, conducting over 60 hearings and filing two criminal complaints related to confidential information disclosures. This exceptional parliamentary tool, comprising 14 members from six political parties, aims to shed light on Swiss financial governance.
The Australian stock market faces challenges, with the ASX200 down 1% and sectors like Discretionary and Financials declining, while Utilities and Energy show resilience. Amid this backdrop, promising small-cap stocks with strong fundamentals, such as BSP Financial Group, are emerging as potential investment opportunities. BSP operates across several Pacific nations, boasting a solid funding base and an attractive P/E ratio, despite recent earnings growth setbacks.
The long-awaited report on Credit Suisse's collapse reveals that responsibility lies more with management than authorities. Experts argue that UBS, now too big to fail, must also be allowed to fail, emphasizing the need for better crisis management and preparation for orderly liquidation to protect the Swiss economy.
El Salvador purchased 11 Bitcoin worth $1 million just a day after securing a $1.4 billion deal with the IMF, which imposed limits on the country's cryptocurrency dealings. This acquisition breaks its previous pattern of buying one Bitcoin daily, raising its total holdings to approximately 5,980.77 BTC, valued at around $580 million. Despite the IMF's stipulations, the National Bitcoin Office indicated that the government would continue to buy Bitcoin, emphasizing its commitment to the cryptocurrency strategy.
Donald Trump’s crypto initiative, World Liberty Financial, executed a $10 million swap of wrapped Bitcoin for tokens linked to adviser Justin Sun, founder of the TRON blockchain. Despite being marketed as a decentralized finance platform, it remains in early development stages, with sales falling significantly short of projections. The project has faced scrutiny following a controversial partnership involving Sun, leading to a lawsuit against Coinbase after the exchange sought to delist wrapped Bitcoin due to concerns over Sun's influence.
CCounselors, a consultancy based in Düsseldorf and Zurich, is expanding its partnership with the addition of two banking experts, Katrin Nesemann and Patrizia Ribaudo, starting January 2025. Nesemann brings extensive experience in strategic communication, having held senior roles in various organizations, while Ribaudo, a former financial journalist, has two decades of expertise in corporate communication within the financial sector.
El Salvador has secured a $1.4 billion loan from the IMF, which requires the government to scale back its Bitcoin initiatives to enhance financial stability. The agreement will make Bitcoin usage optional for businesses and limit public sector Bitcoin activities, including the cessation of tax payments in BTC. This shift aims to restore confidence in fiscal policies and attract further international financial support.
Raiffeisen Bank International (RBI) is poised for a critical ruling from a Russian court regarding a multi-billion dollar legal dispute, impacting its status as the largest western bank in Russia. The bank's shares closed at EUR 19.56 on December 19, reflecting a 0.64% decline, despite a positive monthly performance of 7.14%. With a market capitalization of EUR 6.4 billion and a dividend of EUR 1.25 for 2024, RBI remains a significant player in the European banking sector.
As Wall Street's influence over Bitcoin increases, concerns about the cryptocurrency's decentralized nature intensify. BlackRock's recent video highlighted Bitcoin's 21 million supply cap but included a disclaimer suggesting potential changes, raising fears of manipulation. While Bitcoin ETFs may enhance accessibility and attract institutional capital, they also pose risks of centralization, challenging the community to uphold Bitcoin's core principles amidst growing financialization.
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