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Search resuls for: "UBS reckons"


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China is bitter medicine for Europe’s EV pivot
  + stars: | 2023-09-12 | by ( Neil Unmack | ) www.reuters.com   time to read: +7 min
LONDON, Sept 12 (Reuters Breakingviews) - China can offer a bitter medicine for Europe’s bold electric vehicle pivot. That has prompted carmakers to develop premium e-cars for richer punters, rather than mass market vehicles. More competition from Chinese carmakers should help bring down prices of electric vehicles in Europe. It will force Western players to keep cutting costs to avoid losing too much market share, boosting overall e-car adoption. Sales of EVs picked up in August, with Jefferies analysts estimating a total market share across Europe of 23%.
Persons: Oliver Zipse, Olaf Scholz, carmakers, Morgan Stanley, Encouragingly, BYD, , EVs, Lisa Jucca, Oliver Taslic, Thomas Shum Organizations: Reuters, Volkswagen, European Automobile Manufacturers ’ Association, HK, Norway, BMW, Reuters Graphics, Jato Dynamics, Benchmark Mineral Intelligence, BYD, Renault, UBS reckons, Financial, Electric, European Union, Jefferies, Thomson Locations: China, Europe, Italy, Europe’s, Germany, Norway, Latvia, Bulgaria, Britain, Polo . China, Western, EU
New UBS investor pitch fits better than old one
  + stars: | 2023-04-25 | by ( Liam Proud | ) www.reuters.com   time to read: +3 min
LONDON, April 25 (Reuters Breakingviews) - UBS’s (UBSG.S) old strategy under former CEO Ralph Hamers was safe but not particularly rewarding. True, the wealth business pulled in about $20 billion of new fee-paying assets in the first quarter. The revenue UBS generates in wealth management fell to 78 basis points of average fee-earning assets in the first quarter, from 82 basis points a year ago. The second Ermotti era, by contrast, at least offers the chance of some upside. UBS reckons it can eventually wring $8 billion of annual cost savings from the combination with Credit Suisse.
Reuters Graphics3/ RE-EMERGING MARKETSWhisper it, but the emerging markets (EM) bulls are back after 2022 delivered some of the biggest losses on record. Credit Suisse particularly likes hard currency debt and DoubleLine's Jeffrey Gundlach, AKA the "bond king", has EM stocks as his top pick. Economists polled by Reuters expect headline U.S. inflation to decelerate to 3.1% by the end of 2023. Valentine Ainouz, fixed income strategist at the Amundi Institute, predicts the 10-year U.S. Treasury yield will end 2023 at 3.5% from around 3.88% currently. Reuters Graphics5/ EQUITIES: SELL NOW, BUY LATEREquity investors hope a V-shaped year for the global economy will see stocks end it comfortably higher.
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