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7-Eleven in South Korea is set to participate in a national pilot program that will allow customers to make payments using Central Bank Digital Currency (CBDC). This initiative marks a significant step in the adoption of digital currencies in retail environments.
Commerzbank AG has announced plans to stabilize a EUR 3 billion bond issuance by Kreditanstalt fuer Wiederaufbau (KfW), guaranteed by the German government. The bond, maturing in January 2035, will be supported by Commerzbank, Barclays Bank, DZ Bank, and UBS, with stabilization efforts set to begin on April 1, 2025, lasting up to 30 days.
UBS has maintained a "Buy" rating for Novo Nordisk, setting a target price of 750 Danish crowns. Analyst Jo Walton highlighted current prescription trends in the U.S. for the GLP-1 active ingredient, known for its appetite-suppressing effects.
The Chinese government plans to inject RMB 500 billion into four major state-owned banks to bolster lending and support the economy. This capital infusion, which comes with a premium on share prices, aims to strengthen the banking sector while private demand remains weak. Despite improving economic data, the CNY is expected to stay under pressure due to a low interest rate environment.
Northern Trust (NASDAQ:NTRS) reported Q4 earnings of $2.26 per share, exceeding estimates of $1.96, with a return on equity of 13.74% and a net margin of 12.77%. The firm announced a quarterly dividend of $0.75 per share, yielding 3.09%, and insiders sold a total of 35,335 shares recently. Analysts maintain a "Hold" rating, with a consensus price target of $113.46, while institutional investors own 83.19% of the stock.
UBS is facing pressure regarding its relationship with the Swiss Federal Council, prompting banking analyst Stefan Stalmann to suggest that relocating its headquarters should be elevated to "Plan B." While New York is seen as the most viable alternative, the move could incur significant costs and asset losses. Tensions over new capital requirements have intensified, complicating the bank's integration of Credit Suisse and raising concerns about regulatory pressures.
Goldman Sachs anticipates the Federal Reserve will implement three rate cuts this year, adjusting their forecast to July, September, and November, rather than June and December. This shift aligns with their outlook of a heightened recession risk due to impending tariffs from Trump on April 2.
Argentina is seeking over 40% of a $20 billion loan from the IMF, as confirmed by Economy Minister Luis Caputo. The government has eliminated the fiscal deficit and reduced public spending to strengthen central bank reserves and ease foreign exchange restrictions. Caputo noted that the request exceeds typical first disbursements, which range from 20% to 30%, emphasizing that all necessary measures have been taken.
Zoltan Pozsar, a former Credit Suisse strategist, is now advising President Trump through his consulting firm, proposing innovative financial solutions like exchanging short-term US government bonds for hundred-year zero-coupon bonds. This strategy aims to enhance US financial flexibility while offering countries protection under the US nuclear umbrella. The approach could also address the debt ceiling issue, although it may have implications for countries holding US bonds, such as Switzerland.
India's journey towards a Central Bank Digital Currency (CBDC) reflects valuable lessons learned from global challenges faced by similar initiatives. Despite these setbacks, there remains significant potential for India to successfully implement its CBDC, positioning it as a leader in the digital finance landscape.
Central Banks and Digital Currencies
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7-Eleven South Korea to implement central bank digital currency payments
11:31 02.04.2025
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