Money

Swiss investigation into Credit Suisse-UBS merger opened

Published

1 year ago

April 4, 2023

ticker NEWS

The office of the Attorney General is looking into potential breaches of the country’s criminal law by government officials, regulators and executives

Switzerland’s federal prosecutor has opened an investigation into the emergency merger of Credit Suisse and UBS.

The office of the Attorney General is looking into potential breaches of the country’s criminal law by government officials, regulators and executives.

The UBS takeover of Credit Suisse was engineered by Swiss authorities, in a bid to rein in turmoil in global banking.

Politicians and the Swiss public have voiced concerns over how much state support has been offered in the deal.

Nearly 260 billion Swiss francs in liquidity and guarantees offered by the government and Swiss National Bank.

Once the takeover is complete, Credit Suisse is set to reduce its workforce by 30 per cent.

Money

ASX positioned for strong start after positive stock rebound

Published

2 days ago

September 10, 2024

ticker NEWS

The ASX is set for a solid opening today, bolstered by overnight gains in the banking, commodities, and energy sectors.

Despite these positive movements, analysts are suggesting that the stock rebound and bond decline appear to be technically driven, noting that it may not mark the beginning of a longer-term trend.

Market analyst David Scutt from StoneX joins to discuss the latest market movements. #featured #trending

Leaders

Elon Musk is projected to become the world’s first trillionaire

Published

3 days ago

September 9, 2024

ticker NEWS

Elon Musk, the visionary entrepreneur behind Tesla and SpaceX, is projected to achieve an unprecedented financial milestone by becoming the world’s first trillionaire by 2027.

Currently the richest person alive, Musk holds a staggering net worth of $251 billion, with Tesla playing a major role in his fortune.

At this rate, experts predict his wealth could skyrocket, reaching the trillion-dollar milestone in just three years.

Tesla itself is growing at a remarkable pace, with a market value nearing $670 billion. #featured #trending

Money

Treasury Secretary believes the U.S. are on track for a “safe landing”

Published

3 days ago

September 9, 2024

ticker NEWS

Treasury Secretary Janet Yellen pointed to a “soft landing” for the economy, with unemployment slightly down despite slower job creation.

In a recent interview on Bloomberg, Yellen stated that “For the US, the kinds of metrics that we would monitor that would summarise risks — whether it’s asset valuations or a good degree of leverage — things look good, I don’t see red lights flashing”. #featured #trending