First Malaria Shots From Biggest Vaccine Maker Deployed in Africa
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(Bloomberg) — Ivory Coast has become the first country to deploy a malaria shot developed by Serum Institute of India Ltd., the world’s largest vaccine maker, and the University of Oxford.
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(Bloomberg) — Stocks rose to all-time highs as calls about heightened market volatility failed to materialize after Donald Trump’s assassination attack bolstered his chances of taking over the White House.
Ex-Mozambique Minister Faces US Trial in Tuna-Bond Bribe Case
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(Bloomberg) — Mozambique’s former Finance Minister Manuel Chang faces a criminal trial on Monday in New York over his role in a $2 billion bond fraud scandal that embroiled Credit Suisse Group AG and created a financial crisis in the east African nation.
Hong Kong Tycoon Adrian Cheng to List His Venture Fund in Switzerland
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(Bloomberg) — Hong Kong property tycoon Adrian Cheng is listing his venture fund C Capital on the Swiss Stock Exchange through a merger.
Swatch Shares Plunge as Profit Falls 70% on China Weakness
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(Bloomberg) — Swatch Group AG’s shares fell the most in four years after sales and profit plunged amid a China-led slowdown for Swiss watchmakers and other luxury companies.
Interim Credit Suisse Review Blasts Finma and SNB, SZ Says
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(Bloomberg) — Preliminary conclusions of the Swiss parliamentary commission reviewing the 2023 collapse of Credit Suisse sharply criticize financial regulator Finma as well as the country’s central bank and the government, according to a report in SonntagsZeitung.
SNB Will Cut Rate Just One More Time This Cycle, Survey Shows
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(Bloomberg) — The Swiss National Bank will lower interest rates just one more time this cycle, a Bloomberg survey of economists shows.
S&P 500 Rebound Leaves Big Banks Out on Earnings: Markets Wrap
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(Bloomberg) — The stock market saw another week of gains and Treasuries erased their losses for the year after the latest economic data reinforced bets the Federal Reserve will cut rates in September.
Stock Rotation Hits Megacaps on Bets Fed Will Cut: Markets Wrap
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(Bloomberg) — Wall Street traders betting the Federal Reserve will be able to cut rates soon sent bond yields tumbling — while driving a rotation out of the tech megacaps that have powered the bull market in stocks.
European Cocoa Grinds Show Surprise Jump Despite Surging Prices
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(Bloomberg) — Cocoa processing in Europe unexpectedly rose in the second quarter, even as chocolate makers face pressure from higher bean prices.
Barry Callebaut Sinks as Cocoa Costs Drag on Chocolate Sales
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(Bloomberg) — Barry Callebaut AG’s shares plunged the most in 15 years as investors doubted whether chocolate demand would withstand sky-high cocoa prices.
S&P 500 Tops 5,600 Mark in Longest Rally This Year: Markets Wrap
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(Bloomberg) — A rally in the world’s largest technology companies sent stocks to all-time highs, with Jerome Powell’s remarks to Congress not doing much to dissuade traders from betting on Federal Reserve rate cuts this year.
UBS Financial Services Banker Sam Reinhart to Join BC Partners
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(Bloomberg) — UBS Group AG’s head of banks and diversified financials, Samuel Reinhart, has left the firm for a role at BC Partners, according to people with knowledge of the matter.
Swiss Retailer Migros Taps Banks for $1 Billion Asset Sale
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(Bloomberg) — Switzerland’s grocery retailer Migros-Genossenschaft-Bund has selected investment banks for the potential sale of its cosmetics operations and travel platform, which could fetch a total valuation of about $1 billion, according to people familiar with the matter.
Private Credit Funds Take On Wall Street’s Least Loved Label
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(Bloomberg) — One of the most beleaguered financial labels on Wall Street has quietly been making inroads in the private credit market.
BofA Taps UBS’s Top Insurance Investment Banker George Matsuzaka
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(Bloomberg) — Bank of America Corp. has hired UBS Group AG’s global head of insurance investment banking George Matsuzaka, according to people with knowledge of the matter.
S&P 500 Holds Gains as Fed Bets Steady on Powell: Markets Wrap
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(Bloomberg) — Stocks closed at all-time highs, with Jerome Powell’s remarks to Congress doing little to alter bets the Federal Reserve will be able to cut interest rates this year.
Logitech Snubs Founder, Denies Request for a New Chair Vote
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(Bloomberg) — Computer-accessory maker Logitech International SA stalled founder Daniel Borel’s efforts to oust its board chair, denying his request to consider a replacement at the company’s shareholder meeting on Sept. 4.
S&P 500 Ekes Out Gain to Notch 35th Record in 2024: Markets Wrap
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(Bloomberg) — Stocks closed at all-time highs in a cautious session that saw traders gearing up for Jerome Powell’s testimony to Congress and the start of the earnings season.
What do you think Switzerland’s Alain Berset can bring to the Council of Europe?
The former interior minister is to become the first Swiss Secretary General of the Council of Europe – which issues should his five-year term focus on?
How is your country dealing with the return of stolen artifacts?
Western nations like Switzerland often have to deal with the process of recovering or returning looted artifacts which have been illegally imported. What’s the situation like in your country?
