{ }
The Parliamentary Commission of Inquiry into Credit Suisse has concluded that senior management failed in their duties, prompting recommendations for stricter regulations on banks, including UBS. While UBS has adopted a more conservative approach post-takeover, concerns remain about potential future risks and the implicit state guarantees that could encourage reckless behavior. The effectiveness of new regulatory tools and the responsibility of systemically important banks towards the Swiss economy are critical for preventing future crises.
The Dow Jones Industrial Average surged nearly 400 points, reversing a 10-day losing streak, as investors reacted positively to a lower-than-expected inflation report, despite looming government shutdown concerns. Nvidia's stock attempted a recovery, while shares of Trump Media and Technology fell sharply after the president-elect moved shares to a revocable trust. FedEx initially soared over 20% on earnings but later declined, while Carnival's stock rose 3% following better-than-expected quarterly results.
Standard & Poor's has confirmed Raiffeisen's long-term and short-term credit ratings at "AA-" and "A-1+", respectively, highlighting the bank's excellent capitalization and solid credit quality. With a 17.9% market share in the Swiss mortgage sector, Raiffeisen reported a profit of CHF 641.6 million in the first half of 2024 and anticipates solid business development for the year, though results may not match the previous year's extraordinary levels.
Oracle's stock was downgraded to "sell" by analyst Brian White, citing stretched valuations and disappointing earnings results despite a strong year-to-date performance. The company faces fierce competition in the cloud market from tech giants like Amazon, Microsoft, and Google, and plans to double capital expenditures to $14.2 billion amid a challenging macro environment. Shares have dropped over 10% in December, marking the worst month of 2024, following a significant earnings miss.
The Greens and Socialist Party have raised concerns over the risks posed by UBS following the Credit Suisse debacle, urging faster implementation of "too big to fail" legislation. They criticized UBS's management for excessive bonuses amid significant losses and called for stricter regulations. Meanwhile, the Federal Council and financial authorities are urged to enhance supervision to prevent future banking crises.
Siemens Ltd. shares fell 10.04% to Rs 6,867.05 after management announced they would not participate in upcoming LCC tech-based HVDC tenders, opting instead for VSC-based projects. The company reported a 25% increase in profit after tax for Q3, driven by higher revenues, despite weak government capital expenditure orders. UBS highlighted rising profitability and new orders in the energy sector, with plans to list the energy division in early 2025, potentially unlocking significant value.
Siemens Ltd. shares fell 10.04% to Rs 6,867.05 after management announced it would not participate in upcoming LCC tech-based HVDC tenders, opting instead for VSC-based projects. The company reported a 25% increase in profit after tax for Q3, driven by higher revenues, despite weak government capital expenditure orders. UBS highlighted rising profitability and new orders in the energy sector, with plans to list the energy division in early 2025, potentially unlocking significant value.
VTEX (NYSE:VTEX) has received a price target reduction from UBS Group, now set at $11.00, indicating a potential upside of 89.66%. The stock currently holds a "Moderate Buy" rating, with a consensus target price of $9.62, despite a recent trading dip to $5.80. Institutional investors have been active, with significant new stakes acquired in the third quarter.
VTEX (NYSE:VTEX) saw its price target reduced from $12.50 to $11.00 by UBS Group, maintaining a "buy" rating, suggesting an 89.66% upside potential. Citigroup initiated coverage with a "neutral" rating and a $6.70 target. The stock is currently trading at $5.80, with a consensus rating of "Moderate Buy" and a target price of $9.62.
The Parliamentary Commission of Inquiry's report on Credit Suisse's collapse highlights years of mismanagement and calls for stronger regulations for systemically important banks. Reactions from political and business leaders emphasize the need for effective oversight, with some advocating for a "Lex UBS" to manage the risks posed by the newly formed mega-bank. The Federal Council acknowledges the report's findings and plans to incorporate them into future regulatory frameworks.
Trending
Subcategory:
Countries:
Companies:
Currencies:
People:

MachinaCore is a highly modular and scalable system that allows users to build custom widgets and tools tailored to their specific financial data needs, while seamlessly integrating with other MachinaLabs products, like Machinary, MachinaAI Modules and MachinaTrader.

Address

Waitlist

We’re granting exclusive early access to the first 500 users from december 20.

© 2024 by Machinary.com - Version: 1.0.0.0. All rights reserved

Layout

Color mode

Theme mode

Layout settings

Seems like the connection with the server has been lost. It can be due to poor or broken network. Please hang on while we're trying to reconnect...
Oh snap! Failed to reconnect with the server. This is typically caused by a longer network outage, or if the server has been taken down. You can try to reconnect, but if that does not work, you need to reload the page.
Oh man! The server rejected the attempt to reconnect. The only option now is to reload the page, but be prepared that it won't work, since this is typically caused by a failure on the server.