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CSX Executive Vice President and CFO Sean Pelkey will present at the 2024 UBS Global Industrials and Transportation Conference on December 4 at 8:00 a.m. Eastern Time in Palm Beach. Investors can access a live webcast of the presentation on the company's investor relations website, with a replay available afterward.
TKO Group Holdings will participate in the UBS Global Media & Communications Conference on December 9, 2024, at 11:15 a.m. ET in New York. Mark Shapiro, President and COO, will represent the company, and the presentation will be accessible live and via a 30-day replay on TKO's investor relations website.
OPEC+ is expected to extend its production cuts for an additional three months into early 2025, as current market conditions and seasonal demand trends do not support an increase in output. Analysts at UBS caution that a premature output increase could push Brent crude prices below $70 per barrel, emphasizing the group's historical focus on market stability. The alliance's strategy reflects a recognition of a balanced oil market, with a surplus anticipated in 2025 due to rising non-OPEC+ supply and sluggish demand growth.
Basler Kantonalbank (BKB) has secured a national sponsorship slot for the Eurovision Song Contest 2025 in Basel, becoming the second local company to support the event. With only five to six national sponsorships available, BKB aims to create a memorable experience for the local community and ensure lasting positive effects beyond the event.
Ivan Adamovich, CEO of Private Client Bank, likens the euro to the former Italian lira, citing its weakness amid concerns over Eurozone growth. The euro recently fell to its lowest value against the Swiss franc since 2015, driven by economic disparities with the U.S. and internal challenges in Germany and France. Adamovich suggests that reforms in tax competition and labor markets are essential for improvement, but no changes are anticipated soon.
The euro has reached its lowest exchange rate against the Swiss franc since January 2015, with experts likening it to the Italian lira due to ongoing economic concerns in the Eurozone. Analysts attribute the euro's weakness to slower growth compared to the U.S. economy and suggest that reforms in tax competition and labor markets are necessary for improvement. Additionally, Germany's reliance on a weak euro may hinder its competitiveness, while broader issues, including France's economic struggles and geopolitical tensions, further complicate the situation.
UBS has set a target of US$2,900 for gold by year-end 2025, citing its role as a preferred hedge against geopolitical tensions, particularly in light of recent escalations involving Russia and Ukraine. Analysts believe the strength of the US dollar may be reaching its limits, suggesting a potential shift in valuation dynamics. As the week begins, gold prices have dipped to around USD 2,690, down from a three-week high.
UBS anticipates four rate cuts by the Federal Reserve, prompting a recommendation to reduce exposure to European markets. Kelvin Tay from UBS Global Wealth Management highlights the potential impacts of this monetary policy shift on the European economic landscape.
The Free University of Bozen/Bolzano has partnered with the South Tyrolean Raiffeisen Banks to offer a €20,000 scholarship for outstanding students in the master's program in Accounting and Finance to study for a year at Baruch College in New York. This initiative aims to enhance students' professional skills and cross-cultural experiences, fostering future talents in local and international finance. The collaboration underscores the importance of supporting young professionals and strengthening ties between academia and the business sector.
UBS has identified palladium as the worst-performing precious metal of 2024, with a 12% price drop attributed to increased volatility and weak demand prospects. Despite a brief rally, the price fell below the critical USD 1,000 mark, and long-term risks loom as the automotive industry shifts towards electric vehicles, potentially leading to oversupply.
Global Financial Events
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CSX CFO Sean Pelkey to Present at UBS Transportation Conference in December
17:00 25.11.2024
TKO Group to Present at UBS Global Media and Communications Conference 2024
15:00 25.11.2024
OPEC+ likely to extend production cuts amid cautious market conditions
12:32 25.11.2024
Basler Kantonalbank becomes national sponsor for Eurovision Song Contest 2025
11:28 25.11.2024
euro's decline likened to the italian lira amid economic concerns
Euro
Swiss Franc
United States Dollar
Private Client Bank
Swiss National Bank
St. Gallen Cantonal Bank
DEU
Ivan Adamovich
Thomas Stucki
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11:00 25.11.2024
euro's decline mirrors past struggles of the italian lira
Euro
Swiss Franc
United States Dollar
Private Client Bank
Swiss National Bank
St. Gallen Cantonal Bank
USA
CHE
UKR
DEU
Ivan Adamovich
Thomas Stucki
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11:00 25.11.2024
ubs projects gold to reach 2900 by end of 2025
04:38 25.11.2024
UBS predicts four Fed rate cuts and warns on European markets
01:08 25.11.2024
cholarship program launched for accounting and finance students to study in new york
08:15 24.11.2024
palladium faces long-term risks after worst performance of the year
23:17 23.11.2024
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