Yesterday’s FOMC statement, interpreted through a large language model, was the most dovish since 2021.
Source: Augur Infinity @AugurInfinity
Activist investor Cevian Capital has said it is “not viable” to run a large international bank from Switzerland due to new strict capital proposals
Unless the position changes UBS would have “no other realistic option” but to leave the country. Cevian is Europe’s largest dedicated activist investor and holds about 1.4 per cent of UBS’s shares. It added that the government proposals, which would force the bank to have as much as $26bn in extra capital, could not be meaningfully changed through lobbying efforts. “The board has the responsibility to ensure that UBS protects its competitiveness,” Lars Förberg, Cevian’s co-founder, told the Financial Times. “Under the current proposals, it is not viable to run a big international bank from Switzerland. We therefore see no other realistic option but to leave.” He added: “The message from the Federal Council is clear: UBS is too big for Switzerland . . . I respect the Federal Council’s decision, but I do not understand it. It cannot be undone. Lobbyists cannot change that either. That effort can be spared.” Link to article: https://lnkd.in/ekU4KnUE
In case you missed it...
According to NY Post, banking giant UBS is ramping up its threats to leave Switzerland and set up shop in the US — a radical response to Swiss regulators who have proposed onerous new capital requirements on the financial behemoth. Source : New York Post
Trump is now attacking Goldman Sachs and his CEO David Salomon
Source: X
European banks' biggest balance sheets
The balance of power is shifting. With Deutsche Bank having scaled back, French banks now hold the largest balance sheets with BNP Paribas in #1 position. Even Société Générale now exceeds Deutsche Bank in total assets, and Santander has also moved ahead. Source: Bloomberg, HolgerZ
JPMORGAN $JPM JUST ANNOUNCED A NEW $50 BILLION SHARE BUYBACK PROGRAM
JPMORGAN JUST INCREASED ITS QUARTERLY DIVIDEND OF $1.50 PER SHARE UP FROM $1.40 Source: Evan on X
Credit Card debt at all-time highs? Party on.
#visa #mastercard $V $MA Source: Trendspider
Only 6% of Robinhood's revenue from stock trading, down from 25% five years ago.
The remainder comes from: Interest Revenue: 31% Cryptocurrency: 27% Options: 26% Other: 10% $HOOD Source: FinChat @finchat_io
