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The documentary "Game Over" critically examines the downfall of Credit Suisse, portraying it as a victim of greed, megalomania, and irresponsibility. This once-respected Swiss institution is now under the shadow of UBS, highlighting a spectacular criminal case that unfolds in an engaging manner.
Tesla's stock has plummeted, causing Elon Musk's stake in the company to drop below that of SpaceX for the first time in over five years. Shares fell from nearly $480 to around $225, impacting Musk's wealth significantly as he struggles to balance his commitments across multiple ventures. Despite these challenges, he is set to defend his controversial $56 billion pay package for his role at Tesla.
Expand Energy Corporation, formerly Chesapeake Energy, is based in Oklahoma City and has received a new price target of $115.00 from Barclays, indicating an 8.93% potential upside. Analysts have mixed ratings, with twelve recommending a buy and four a hold, while the stock currently trades at $105.57. CEO Domenic J. Dell'osso, Jr. recently increased his stake by purchasing 2,500 shares at $99.50 each, raising his total ownership to 107,845 shares.
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 has downgraded PG&E Corporation to a Neutral rating from Buy and reduced its price target from $22 to $19. PG&E specializes in electricity production and distribution, accounting for 72.9% of its net sales, while natural gas transportation and distribution makes up 27.1%. The company serves over 5.6 million electricity customers and 4.6 million natural gas customers.
Citigroup reported a return on equity of 6.62% and a net margin of 7.43%, with quarterly revenue up 12.3% year-over-year. The company declared a quarterly dividend of $0.56, representing a 3.20% yield, and initiated a $20 billion share repurchase program, indicating management's belief in the stock's undervaluation. Recent insider sales included significant transactions by COO Anand Selvakesari and insider Sara Wechter, who reduced their holdings.
UBS has postponed its net-zero emissions target from 2025 to 2035, citing integration with Credit Suisse and updated regulatory guidance. The firm aims for a 57% reduction in Scope 1 and 2 emissions by 2030, increasing to 90% by 2035, while focusing on energy efficiency and renewable electricity. Additionally, UBS will reassess its Asset Management division's net-zero alignment goal, with only 3.6% of its assets currently covered under this ambition.
Many "green" funds are under scrutiny for investing in companies that harm the environment, with over a third of ESG funds in Europe backing fossil fuel firms. Raiffeisen Bank International in Austria faces particular criticism for its investment choices.
Natalia Ferrara, Vice President of the Swiss Bank Employees Association, criticizes the PUK report on Credit Suisse's downfall, stating it fails to assign clear responsibility and lacks actionable lessons. She emphasizes the importance of UBS for the Swiss financial sector and warns against negligent theories regarding its necessity, highlighting the potential job losses and the need for effective regulation and enforcement. As UBS integrates with Credit Suisse, challenges remain, particularly for older employees facing redundancy.
Morgan Stanley downgraded Iberdrola to Equal-weight from Overweight, reducing its price target to €14.50 due to limited near-term upside after a strong performance. The stock, trading at a 25% premium to historical levels, is expected to yield less than 10% total return in 2025, with challenges ahead as growth slows post-2025 and management transitions loom. Despite this, Iberdrola remains a "core holding" for many investors, thanks to its strong earnings mix in electricity networks and renewables.
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Documentary exposes downfall of Credit Suisse amid greed and irresponsibility
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ubs delays net zero targets by ten years amid credit suisse acquisition
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Credit Suisse Strategic Income I
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USA
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Green funds paradoxically support fossil fuel companies undermining climate efforts
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bank staff association criticizes report on credit suisse downfall and UBS integration
Swiss Franc
Credit Suisse Strategic Income I
CHE
Daniel Zulauf
Marlene Amstad
Natalia Ferrara
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06:00 19.03.2025
Morgan Stanley downgrades Iberdrola citing limited near-term growth potential
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