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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Bitcoin's price has fallen below $92,000, reflecting a reality check following a recent rally spurred by optimism over a crypto-friendly Washington. Investors are shifting to a "risk-off mode," with profit-taking becoming evident after Bitcoin nearly reached the $100,000 mark. The path to six figures appears more challenging, as market players remain cautious amid ongoing economic uncertainties.
UBS Group AG is set to acquire full ownership of its securities venture in China, UBS Securities Co. Limited, as its partner, Beijing State-owned Asset Management, sells a 33% stake for 1.5 billion yuan. This move is part of UBS's strategy to enhance its presence in China and follows its recent acquisition of Credit Suisse. Additionally, UBS is pursuing a wider banking license in the U.S. and exploring a wealth management joint venture in India to capitalize on growth opportunities in key markets.
Intuit CFO Sandeep Aujla will present at the UBS Global Technology Conference on December 3, 2024, at 9:55 a.m. PT. The presentation will be available via live audio webcast on Intuit’s investor relations website, with a replay accessible 24 hours post-event. Intuit serves approximately 100 million customers globally with products like TurboTax, Credit Karma, QuickBooks, and Mailchimp, aiming to empower prosperity for individuals and communities.
Visa has reported a strong financial year, with sales increasing by 10% to nearly $36 billion, driven by a consumer and travel boom. The stock reached a record high of $312.40 on November 18, 2024, reflecting robust investor confidence and positive growth prospects in the digital payments sector.
Crédit Agricole has been upgraded to category 2 on the Financial Stability Board's list of systemically important banks, requiring it to hold more capital to withstand financial shocks. The list, which includes 29 banks, saw Bank of America drop to category 2, while UBS was moved up to category 2 following its acquisition of Credit Suisse. The highest capital requirements are for JP Morgan Chase, classified in category 4.
The platinum market is facing a significant undersupply, with a 661,000-ounce deficit reported in the first three quarters of 2023. Despite this, prices have dropped by about 6%, influenced by a fabrication deficit and weakened investment demand. Looking ahead, UBS and the World Platinum Investment Council project continued shortages, with a forecasted deficit of 539,000 ounces for 2024, driven by sustained demand for autocatalysts amid slower electric vehicle adoption.
The platinum market is projected to remain undersupplied in 2025, with UBS reporting a deficit of 661,000 ounces in the first three quarters of 2023. Despite a 7% year-on-year increase in mine supply, investment demand weakened, influenced by market conditions, while industrial usage rose by 15%. Jewelry demand continued to grow, marking the fourth consecutive quarter of year-on-year increases.
Liechtensteinische Landesbank (LLB) has demonstrated resilience in a competitive banking environment, with its share price currently at EUR 74.50 and a market capitalization of EUR 2.3 billion. Despite minor fluctuations, the bank reported a strong annual performance, with gains of over 12% year-on-year, reflecting investor confidence in its stability and growth potential.
VP Bank shares are currently priced at EUR 76.75, reflecting a slight increase of 0.66% over the past month. The bank boasts a market capitalization of EUR 461.7 million and offers an attractive dividend yield of 5.46% for the 2024 financial year, making it a compelling option for investors. Despite recent price fluctuations, the stock has shown resilience in a volatile market environment.
Gérard Wertheimer, co-owner of Chanel, remains Switzerland's richest person in 2024, with a fortune of 37-38 billion francs, despite a decline in the luxury sector. The Hoffmann, Oeri, and Duschmalé family follows with 28-29 billion, while Klaus-Michael Kühne holds third place with 27-28 billion. The Blocher family and Guillaume Pousaz round out the top ten, with fortunes of 15-16 billion and 14-15 billion francs, respectively.
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