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Added on the 30/06/2016 16:50:54 - Copyright : Reuters EN
Images of a press conference in Bern by UBS and Credit Suisse leadership and Swiss officials. UBS will take over its troubled Swiss rival Credit Suisse for $3.25 billion following crunch talks Sunday aimed at stopping the stricken bank from triggering a wider international banking crisis. IMAGES
On Wednesday Credit Suisse Strategists revealed the key to investing in 2021 is preparing for a virus-free economy in 2022. In a note to clients, the team initiated a 2021 S&P 500 price target of 4,050. Business Insider reports that the target implies a 12% rally from Tuesday's closing level. Various coronavirus vaccines are vying for regulatory authorization. That led Credit Suisse to "de-emphasize the near-term" and focus on how the US economy would launch out of its virus slump. The team said "the virus will be a fading memory" in 2022 and the rotation to cyclical stocks will be "largely behind us."
JAC-Volkswagen, the new joint venture of Volkswagen Group China and Anhui Jianghuai Automobile Co., Ltd. (JAC) is another example of Volkswagen's customer-focused e-mobility solutions. SOL, the new brand of the joint venture, contributes to the development of the Chinese mobility sector. The joint venture has presented a clear roadmap covering components, connectivity and big data services, electronic payments and research and development. A new agreement with Zhejiang Tmall Technology Company Ltd. will be the basis for an innovative sales model. At the group event, JAC-Volkswagen also presented its first product, the SOL E20X: It is an SUV electric vehicle of the A0 segment with a NEDC range of more than 300 km.
Transport to shipping conglomerate HNA is paying Blackstone Group 6.5 billion dollars for a big slice of of Hilton Hotels Worldwide. As Tara Joseph reports, its part of the group's strategy to cash in on millions of Chinese tourists travelling abroad.
Credit Suisse predicts financial markets will remain tough, after starting the year with a quarterly loss for the first time since 2008 amid a major restructuring. But as Hayley Platt reports, like many of its peers the Swiss bank's losses weren't as bad as expected
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