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France’s military has mobilized and flown in “four additional squadrons to restore order,” according to French Interior Minister Gerald Darmanin. Macron will chair a defense and national security council on Wednesday, focusing on the violence, the presidential palace said. Others were equipped with larger rifles, firing bullets,” the French High commissioner to New Caledonia Louis Le Franc said. Theo Rouby/AFP/Getty ImagesFrench gendarme officers guard the entrance of the Vallee-du-Tir district, in Noumea, New Caledonia on May 14, 2024. FLNKS issued its own statement Wednesday both condemning the vote at the National Assembly and calling for an end to the violence.
Persons: Paris –, Gerald Darmanin, Emmanuel Macron, Macron, Charles Wea, Louis Mapou, New Caledonia Louis Le Franc, Franc, RNZ, Theo Rouby, unfreeze, Gabriel Attal, , ” Attal, FLNKS, “ FLNKS Organizations: CNN, New, New Caledonian, New Caledonia Louis, Radio New, Getty, Colonial, Noumea Accord, National Assembly, French, Kanak and Socialist National Liberation Locations: New Caledonia, Noumea, South Pacific, Australia, Fiji, Vanuatu, , New Caledonia, Pacific, Caribbean, Indian, France, Paris, China, United States, Radio New Zealand, Noumea , New Caledonia, AFP, Tir, White, Covid, Kanak
The US could use a simple tool to strategically weaken the US dollar for economic gains. A reduction in the federal deficit would help tame inflation and weaken the US dollar. AdvertisementThat's why a weakening US dollar is music to the ears of American corporations, trade partners, and policymakers. That agreement devalued the US dollar, stabilized trade with Japan, and helped reduce the US trade deficit. A balanced Federal budget would help them achieve that scenario without putting the economy at risk.
Persons: , It's, isn't, Donald Trump Organizations: Service, Swiss, America's, China, Accord Locations: Europe, China, Japan, Asia
Has the time arrived for the stock to break free from a range heading into earnings next week? There has been much hype around this emerging Swiss company that grew revenues by 68% in 2022, 46% in 2023, and are expected to grow revenues by more than 25% in 2024 and 2025. Technically speaking ,that range of overhead resistance for On Holding (ONON) is easy to see on the weekly chart below. There was weekly downtrend line resistance originating from the 2022 high that was broken in Q1 '24. On earnings ahead Heading into earnings, I think it's wise to refer back to Q4 of 2023 earnings announced on March 12.
Persons: Shoemaker, I've, CROX, Todd Gordon, Gordon, ONON Organizations: Nike, Air, swiss, Inside Edge, Edge Capita Locations: Swiss, U.S, SKX
The new Swiss Army Knife will be missing a key feature
  + stars: | 2024-05-07 | by ( Jack Guy | )   time to read: +2 min
CNN —The maker of the Swiss Army Knife is working on a new version of the classic multi-tool, which won’t have a blade. “We are in the early stages of developing pocket tools without blades,” a spokesperson for Swiss firm Victorinox told CNN in a statement Tuesday, adding that they will compliment the existing range of multi-tools rather than replacing them. Adrian Moser/Bloomberg/Getty ImagesCNN contacted Victorinox after company CEO Carl Elsener Jr. told Swiss media outlet Blick that he is concerned about increasingly stringent regulations on knives in many markets. For example, increasing concern over the prevalence of knife crime means that the British government is considering new legislation on bladed articles, and Elsener himself referenced the country’s rules. “In England or certain Asian countries, you are sometimes only allowed to carry a knife if you need to have it to do your job or operate outdoors,” said Elsener.
Persons: Victorinox, , Adrian Moser, Carl Elsener Jr, Elsener, Karl Elsener, Arnd Wiegmann, Elsener Jr, CNN’s Richard Quest Organizations: CNN, Swiss Army, Bloomberg, Getty Images CNN, , “ Cyclists, Reuters Locations: Ibach, Switzerland, Swiss, England,
Swiss pharmaceutical company Roche on Wednesday reported a modest uptick in first-quarter sales, even as waning demand for its Covid-19 products continued to weigh on the company. Sales were up 2% at constant exchange rates, led by stronger demand for Roche's newer medicines and diagnostics, the company said. Excluding Covid-19 products, sales were up 7%. But sales tightened when reported in the company's local currency, down 6% off the back of a strong Swiss franc. Roche CEO Thomas Schinecker on Wednesday confirmed the company's 2024 outlook, saying it was largely out of the woods following a post-Covid-19 slump.
Persons: Roche, Thomas Schinecker, Schinecker Organizations: Roche, AG, Wednesday, Reuters Locations: Basel, Switzerland, Swiss
Despite economic challenges looming large — including prolonged downturns in both the housing and stock market — China’s fascination with luxury watches remains undiminished. Cyril Zingaro/WWGF/KeystoneCertainly at this year’s fair, well-dressed, well-accessorized Chinese customers appeared unfazed by economic uncertainties. After more than 20 years working in the region, he believes China’s economic slowdown is just a temporary phase. “The situation may be slightly (more) challenging for mid-level luxury brands (whose clients’ disposable incomes are potentially more at the whim of market forces). Collectors appreciate the craftsmanship, rarity, and heritage associated with luxury timepieces, which can hold or increase in value over time.
Persons: Matthieu Humair, Cyril Zingaro, Jackson Yee, Jaeger, Zhu Yilong, Wang Yang, Xiao Zhan, David Sadigh, Patek Philippe, Van Cleef, ” Sadigh, Valentin Flauraud, , Ricardo Guadalupe, “ We’ve, Pierre Albouy, Keystone Carson Chan, Richard Mille Asia, Bonhams, ” Chan, Raphael Young, Lange, Söhne, Wilhelm Schmid, Lumen, Chan, Vacheron, Young, Roger Dubuis, Dior, Louis Vuitton, Gucci — Chanel, Hermes, Hermès, Attelé, Chanel, Mademoiselle Chanel, Organizations: Geneva CNN —, Federation of, Swiss Watch Industry, IWC, Digital Luxury, CNN, Keystone, Fondation, , Berkley, Couture Locations: Geneva, China, Hong Kong, Asia, Switzerland, Chopard, Europe, , Asia — China, Guadalupe, Swiss, watchmaking
Newly appointed UBS CEO Sergio Ermotti (R) speaks with UBS Chairman Colm Kelleher during a press conference in Zurich on March 29, 2023. UBS CEO Sergio Ermotti earned 14.4 million Swiss francs ($15.9 million) in 2023 after his surprise return at the helm of the Swiss banking giant, following its takeover of stricken rival Credit Suisse. Hamers earned 12.6 million Swiss francs in 2022 during his last full year as CEO, according to UBS' annual report published on Thursday. In total, the bank's executive board picked up a 140.3 million Swiss franc pay package in 2023, a significant increase from the previous year's 106.9 million francs. UBS shares have gained more than 52% since Ermotti took the reins on April 5, 2023.
Persons: Sergio Ermotti, Colm Kelleher, Ermotti, Ralph Hamers, Hamers Organizations: UBS, Credit Suisse Locations: Zurich, Swiss
Oracle — The database software stock surged 11% and headed for its best day since December 2021 after posting fiscal third-quarter earnings that topped Wall Street's expectations. Asana — The stock shed about 11% after the work management platform issued weak full-year revenue guidance. Asana said to expect revenue between $716 million and $722 million, less than the forecast of $725 million estimated by analysts polled by LSEG. American is expecting an adjusted loss of 15 cents to 35 cents per share, versus a 22 cent loss expected from analysts polled by FactSet. On lost 0.05 Swiss franc per share, while analysts polled by StreetAccount expected On to earn 0.10.
Persons: Oracle, William Brown, Asana, Microstrategy, Canaccord, TD Cowen, Dan Loeb's, StreetAccount, Archer, Daniels, Samantha Subin, Lisa Han, Alex Harring, Sarah Min Organizations: Southwest Airlines —, Boeing, Southwest, Oracle, L3Harris Technologies, LSEG, Wall Street, Boeing —, New York Times, Max, Alaska Airlines, Acadia Pharmaceuticals, American Airlines —, FactSet, Management, Advance, Swiss, Revenue, Daniels, Midland, Daniels Midland, . New York Community Bancorp Locations: .
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHolcim CEO: Created two champions to have stronger individual strategic prioritiesJan Jenisch, CEO of Holcim, weighs in on his firm's full-year earnings, a 1 billion Swiss franc share buyback program, and how the spinoff of its North American business will aid strategic aims.
Persons: Jenisch
The dollar is back. It’s not all good news
  + stars: | 2024-02-09 | by ( Krystal Hur | )   time to read: +6 min
New York CNN —The greenback is strengthening again after a bumpy 2023, as Wall Street accepts that interest rate cuts are coming later than previously expected. The US Dollar Index, which tracks the dollar against the British pound, euro, Swiss franc, Japanese yen, Canadian dollar and Swedish krona, is up 2.8% for the year as of Friday morning. “All of a sudden the interest rate differential kicks in — if that is slower than the Fed or faster,” said Krosby. Higher interest rates tend to garner more international capital to flow into a country, raising demand for the currency and thus its value. Still, Todd Jones, chief investment officer at Gratus Capital, says he expects the dollar to trend lower eventually as the Fed gets closer to cutting rates.
Persons: Jerome Powell, Christine Lagarde, Quincy Krosby, , Neel Kashkari, Todd Jones, Jones, Anna Cooban, Richard Meade, Janet Yellen, Alicia Wallace, Yellen, ” Yellen Organizations: CNN Business, Bell, New York CNN, Swiss, Canadian, Federal Reserve, European Central Bank, LPL, Treasury, Minneapolis, Gratus, Fed, Hamas, Lloyds, CNN, Banking Committee Locations: New York, Swedish, Iran, Suez, Asia, Europe
"People recommend investing in the Swiss market during uncertain periods – like if you are expecting a recession. "Maybe in a bull market, Swiss equities are not going to be a huge outperformer globally — but they can generate positive returns. But in difficult times, Swiss equities, besides the U.S., is one of the markets to buy," Bänziger said. In her view, Swiss stocks benefit from the strong Swiss franc and a political system that fosters innovation in companies. Meanwhile, Bänziger believes Swiss Prime Site and PSP Swiss Property make good investments among small- and mid-caps, given the opportunities in the Swiss real estate sector.
Persons: Carla Bänziger, Bänziger, Stocks Organizations: U.S . Federal, that's, CNBC Pro, Swiss, State Secretariat, Economic Affairs, Swiss Re, SIX Swiss Exchange, Dow Jones International Real, ABB, Nestle, Roche, Novartis Locations: that's Switzerland, Swiss, Zurich, U.S, Switzerland, Germany, China, Europe
ACCRA, Ghana - ECOWAS flag with member flags at the second extraordinary summit on the political situation in Burkina Faso, in Accra, Ghana, on February 3, 2022. OUAGADOUGOU, Burkina Faso - Jan. 20, 2023: A banner of Russian President Vladimir Putin is seen during a protest to support the Burkina Faso President Captain Ibrahim Traore and to demand the departure of France's ambassador and military forces. Mali has ruled out leaving WAEMU, while Burkina Faso is considering it. "Mali, Burkina Faso and Niger will likely draw on the extractive sector to improve their weak economies. A recent UN Development Programme report surveyed 5,000 people who had directly experienced a recent coup or unconstitutional change of government, including citizens of Burkina Faso, Chad, Guinea, Mali and Sudan.
Persons: NIPAH DENNIS, Bola Tinubu, Vladimir Putin, Captain Ibrahim Traore, Alex Vines, there'd, Tinubu, Ouattara, , Vines, Mucahid Durmaz, Verisk Maplecroft, Durmaz, Balima Boureima, insurgencies, Wagner, Niger, specter, Mohamed Bazoum, Rey Byhre Organizations: Getty, Economic, West African States, ECOWAS, Nigerian, Africa, Chatham House, CNBC, Algeria —, West, Cote D'Ivoire, Anadolu Agency, Getty Images, Wagner Group, West African Economic, Monetary Union, CFA, National Council for, UN Locations: ACCRA, Ghana, Burkina Faso, Accra, AFP, Mali, Niger, Sahel, Mauritania, OUAGADOUGOU, Chatham, France, Nigeria, Côte d'Ivoire, Algeria, Malian, Russia, Bamako, Mucahid, West Africa, Togo, Benin, Cote, NIAMEY, NIGER, Niamey, West, U.S, Moscow, WAEMU, Seme, Chad, Guinea, Sudan, The Gambia, Tanzania, Kati
AdvertisementLiving in a global city with a high quality of life is increasingly reserved for the wealthiest. The world's most liveable cities — for the wealthyThe rising cost of housing, food, and other household goods is helping worsen the affordability crisis in these cities. Vienna, for example, has kept housing costs remarkably low through its generous social housing system. The average studio apartment in Zurich costs $1.1 million and the average home across the country costs $1.4 million, the Times reported. Like in many American cities, a severe housing shortage in cities like Zurich and Geneva is also contributing to rising home costs.
Persons: , EIU Organizations: Service, Economist's Intelligence, The New York Times, Times, Swiss Locations: Zurich, Copenhagen, Vienna, Austria Copenhagen, Denmark Melbourne, Australia Sydney, Australia Vancouver, Canada Zurich, Switzerland Geneva, Switzerland, Calgary, Canada, , Geneva, Singapore, New York, Hong Kong Los Angeles Paris, France Copenhagen, Tel Aviv, Israel, Vancouver, Sydney, Paris
A pedestrian sheltering under an umbrella passes a Julius Baer Group Ltd. branch in Zurich, Switzerland, on Tuesday, July 13, 2021. Group Chair Romeo Lacher said he and the board "deeply regret" net credit losses of 606 million Swiss francs ($701 million), well above consensus expectations, which include a loan loss allowance of 586 million francs. Julius Baer in November announced its exposure to the struggling Austrian company, which has been hit by the higher interest rate environment. It further said Thursday it would exit its private debt businesses, winding down its remaining private debt book of 800 million million Swiss francs, 2% of its total loan book. The bank reported net profit attributable to shareholders of 454 million Swiss francs for the full-year 2023, down 52%, with earnings per share of 2.21 francs.
Persons: Julius Baer, Philipp Rickenbacher, Romeo Lacher, Rickenbacher, Nic Dreckmann, Anke Reingen Organizations: Julius Baer Group, Signa, Austrian, CNBC, Swiss, RBC Locations: Zurich, Switzerland, Swiss
Ivory Coast alone is home to more than 5 million people from Burkina Faso, Mali and Niger. Earlier this month, Russia and Niger, ruled by a junta since a coup last year, agreed to develop military ties. Russian military personnel flew into Burkina Faso's capital Ouagadougou last week to ensure the safety of the country's military leader. EMPTY THREATECOWAS has responded to a wave of coups in the region since 2020 with sanctions that the juntas have called "illegal and inhumane." "The departure from ECOWAS will have catastrophic consequences for the ability to respond to the many security challenges facing this region," said Abba.
Persons: Bate Felix, David Lewis, Giulia Paravicini, Seidik Abba, Russia's Wagner, Mucahid Durmaz, Verisk Maplecroft, Charlie Robertson, Kwesi Aning, Gilles Yabi, Adama Coulibaly, Nagnouma Keita, Abba, Tiemoko Diallo, Boureima, Silvia Aloisi, Andrew Cawthorne Organizations: Giulia Paravicini DAKAR, West, West African States, Reuters, Islamic, FIM Partners, European Union, ECOWAS, CFA Locations: Mali, Burkina Faso, Niger, Russia, Ivory Coast, Niger . Niger, Nigeria, Paris, Ghana, Togo, Benin, France, United States, Burkina Faso's, Ouagadougou, West Africa, United, London, Bamako, Guinea, China
The 10 most expensive cities in the world
  + stars: | 2023-12-05 | by ( Madison Hoff | )   time to read: +3 min
Geneva, Paris, and San Francisco were among the 10 most expensive cities. 1 in a ranking of how expensive 173 cities around the world are. AdvertisementAn EIU article noted that while New York and two other US cities were part of the top 10 most expensive cities based on the cities analyzed, the article stated that "North American cities have, on average, slipped down our cost-of-living ranking." Singapore was also the most expensive city in the world last year when it tied with New York. AdvertisementHere are the most expensive cities, each with their index noted below from the EIU report.
Persons: , EIU, Hong Kong, Syetarn, Hansakul Organizations: Economist Intelligence, Singapore, Service, Business, New, Swiss, Hong Locations: Zurich, Geneva, Paris, San Francisco, Singapore, New York City, New York, Hong Kong, Tel Aviv, Israel, Copenhagen, Denmark
Singapore, Zurich world's most expensive cities - EIU
  + stars: | 2023-11-30 | by ( )   time to read: +1 min
HONG KONG, Nov 30 (Reuters) - Singapore and Zurich tied for the world's most expensive city this year, followed by Geneva, New York and Hong Kong, the Economist Intelligence Unit (EIU) said on Thursday as it cautioned that the global cost-of-living crisis was not yet over. Singapore regained the top of the rankings for the ninth time in the past eleven years due to high price levels across several categories. The city state has the world's highest transport prices, owing to strict government controls on car numbers. Zurich's rise reflected the strength of the Swiss franc and high prices for groceries, household goods and recreation, it said. Geneva and New York tied for third place, while Hong Kong was fifth and Los Angeles in sixth.
Persons: Hong Kong, Farah Master, Christopher Cushing Organizations: Economist Intelligence Unit, Singapore, Swiss, New York, Los Angeles, Thomson Locations: HONG KONG, Singapore, Zurich, Geneva , New York, Hong Kong, Geneva, New, Hong, Asia, Nanjing, Wuxi, Dalian, Beijing, Osaka, Tokyo, Japan
REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsLONDON/NEW YORK, Nov 30 (Reuters) - After making hay when a summer bond rout propelled the U.S. dollar to 10-month highs, hedge funds are now pondering what lies ahead for the greenback. Five funds shared their views on the fate of the dollar. This does not represent recommendations or trading positions, which some hedge funds cannot reveal for regulatory reasons. He expects the U.S. economy to slow sharply which, alongside falling inflation, will likely hurt the dollar against some emerging market currencies. The Brazilian real, trading at 4.8908 per dollar , is up roughly 8% so far this year against the dollar.
Persons: Dado Ruvic, Jonathan Fader, Fader, Doug Greenig, Florin Court's, Greenig, Tara Hariharan, Hariharan, NWI, Carlos Calabresi, Michael Sager, Sager, Nell Mackenzie, Carolina Mandl, Dhara Ranasinghe, Kirsten Donovan Organizations: REUTERS, U.S, greenback, Swiss, Reuters, FLORIN, China Foreign Exchange Trade, Long, Garde, CIBC, Thomson Locations: U.S, American, Brazil, Colombia, Hungary, Poland, China, Asia, Brazilian, London, Carolina, New York
A pedestrian sheltering under an umbrella passes a Julius Baer Group Ltd. branch in Zurich, Switzerland, on Tuesday, July 13, 2021. The share price of Julius Baer plummeted after the Swiss private bank disclosed 606 million Swiss francs ($692.7 million) of loan exposure to a single conglomerate client. The 606 million Swiss franc exposure to one client — via three loans to different entities within a European conglomerate — is collateralized by commercial real estate and luxury retail, the company revealed. The bank last week booked provisions of 70 million Swiss francs to cover the risk of a single borrower in its private loan book. The European Central Bank recently examined the commercial real estate sector and the provisioning methods and capital buffers of European banks.
Persons: Julius Baer, Signa, Julius Baer's CET1, DBRS Morningstar, Vitaline Yeterian, Elisabeth Rudman, Julius Baer's Organizations: Julius Baer Group, Austrian, DBRS, CNBC, European Central Bank, Swiss Locations: Zurich, Switzerland, Swiss
Inflation predictionsZurich, Switzerland (pictured) tied with Singapore as the world's most expensive city on the Worldwide Cost of Living Index from the Economist Intelligence Unit. Maremagnum/Corbis Documentary RF/Getty ImagesThe city-state of Singapore and Switzerland’s Zurich were named as the most expensive cities in the world. Movers and shakersHong Kong, the "Pearl of the Orient," came in fifth on the list of the world's most expensive cities to live in. The 2023 Worldwide Cost of Living surveyed 173 major cities, comparing more than 400 individual prices across 200 products and services. The world’s 10 most expensive cities for 20231.
Persons: who’s, Pol Albarrán, Price, ” Upasana Dutt, Dutt, Chunyip Wong, San Francisco Organizations: CNN, Economist Intelligence Unit, Economist Intelligence, Getty, Denmark's Copenhagen, Switzerland’s, New York, Singapore, Tel, Denmark’s, Orient, 171st, Venezuela’s, Paris, ., San Locations: Zurich, Switzerland, Singapore, China, Israel, El, , Tel Aviv, Switzerland’s Zurich, Swiss, Switzerland’s Geneva, Hong Kong, Los Angeles, Paris, Denmark’s Copenhagen, San Francisco, Moscow, St, Petersburg, Ukraine, Beijing, Damascus, Syria, Tehran, Iran, Tripoli, Libya, Western, Venezuela’s Caracas, York, Geneva, . Tel Aviv, Copenhagen
"The GDP data helped the dollar a little bit. "So if we're seeing some strength on the cyclical side of the economy, then that could be challenging the rate cut narrative a little bit." U.S. rate futures, however, increased bets of a rate cut starting in March, following the GDP data, to a nearly 50% chance of easing, compared with nearly 35% late on Tuesday, the CME's FedWatch tool showed. Comments by Fed Governor Christopher Waller flagging a possible rate cut in the months ahead sent U.S. bond yields and the dollar sliding on Tuesday. China's onshore yuan finished the domestic session at 7.1246 per dollar, the strongest closing price since June 16.
Persons: Erik F, Christopher Waller, Wells Fargo's Nelson Organizations: US, Swiss, New Zealand, U.S . Commerce Department, Reuters, New, Reserve Bank of New Zealand Locations: Swedish, Hamburg, Germany, U.S, Wells Fargo, London, Europe's, Spain
Morning Bid: Vale Charlie Munger
  + stars: | 2023-11-29 | by ( )   time to read: +2 min
Vice-Chairman of Berkshire Hathaway Corporation Charlie Munger speaks to Reuters during an interview in Omaha, Nebraska May 3, 2013. The union of Munger and Warren Buffett is among the most successful in the history of business, transforming Berkshire Hathaway into a multi-billion dollar conglomerate. Often handy with a one-liner Munger summed up his fame in 2010: "I think part of the popularity of Berkshire Hathaway is that we look like people who have found a trick," he said. Two-year Treasury yields fell to a four-month low just below 4.70%. Ten-year Treasury yields hit a two-month low of 4.28%.
Persons: Charlie Munger, Lane, Tom Westbrook, Warren Buffett, Berkshire Hathaway, Munger, Christopher Waller, Waller's, China's stockmarkets, Sam Holmes Organizations: Berkshire Hathaway, Reuters, REUTERS, Investors, Swiss, greenback, Spanish CPI, Thomson Locations: Omaha , Nebraska, Munger, Berkshire, Asia, New, Spanish
The New Zealand dollar was last up 1.1% at a four-month high of $0.6207, having blown past resistance. The U.S. dollar, meanwhile, slid to fresh multi-month lows on the euro, yen, sterling, the Australian dollar, yuan and Swiss franc. Overnight Fed Governor Christopher Waller - an influential and previously hawkish voice at the U.S. central bank - told the American Enterprise Institute that rate cuts could begin in a matter of months, provided inflation keeps falling. Fed funds futures rallied on the remark to price more than hundred basis points of cuts in 2024 and 40% chance they begin as soon as March. Two-year Treasury yields fell sharply and along with the dollar fell further still in Asia.
Persons: Christopher Waller, Governor Waller's, Tapas Strickland, Jerome Powell, Waller, CONDITIONALITY Waller's, Seng, Vishnu Varathan, Simon Cameron, Moore Organizations: New Zealand, Nikkei, U.S ., Swiss, U.S, American Enterprise Institute, Governor, National Australia Bank, Fed, HK, Thomson Locations: SINGAPORE, Asia, Pacific, Japan, Hong Kong, Sydney, China, Meituan, Zealand, Singapore
Julius Baer declines to confirm Signa exposure
  + stars: | 2023-11-29 | by ( )   time to read: +1 min
ZURICH, Nov 29 (Reuters) - Julius Baer's Chief Executive declined to confirm on Wednesday whether the private bank's 606 million Swiss franc ($693 million) exposure it disclosed earlier this week is to toppled property giant Signa. The CEO said it was too early to say what specific lessons could be learned relating to the large exposure in its private debt business. Troubled property group Signa, which owns scores of high-profile projects and department stores, declared insolvency on Wednesday. Signa, controlled by an Austrian magnate, has borrowed heavily from banks including Julius Baer, which on Monday disclosed it had an exposure of more than 600 million Swiss francs, the largest in its private debt loan book, to a European conglomerate. "I believe Julius Baer will be able to continue its risk appetite and its risk capacity as we have on average in the last few years."
Persons: Julius Baer's, Philipp Rickenbacher, Julius Baer, Rickenbacher, Noele Illien, Elaine Hardcastle, Tomasz Janowski Organizations: Financial Times, Global Banking, Thomson Locations: ZURICH, Austrian
IOTA digital tokens will fund the investment. The foundation will be seeded with over $100 million in IOTA tokens, to be vested over the next four years, Schiener said. IOTA tokens on Tuesday traded at about $0.17, with a market capitalization of roughly $524 million, showed. The funds will be used to develop the IOTA network and accelerate its growth, Schiener said. IOTA will also start "tokenizing" assets, he said, a process in which ownership rights in land or buildings are represented as digital tokens and stored on a blockchain.
Persons: Satoshi bitcoin, Arnd, Dominik Schiener, Binance, Schiener, Hamad Sayah Al Mazrouei, Gertrude Chavez, Dreyfuss, Alden Bentley, Richard Chang Organizations: Swiss, Bity, REUTERS, IOTA, Wednesday, Abu Dhabi Global, United Arab, Registration, ADGM, Thomson Locations: Zurich, Switzerland, Abu Dhabi, United Arab Emirates, UAE, Europe, Germany
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