Research Market strategy
By Swissquote Analysts
Morning News

LVMH Shuffles Leadership at Louis Vuitton, Dior

LVMH Moët Hennessy Louis Vuitton SE, Europe’s most valuable company, is embarking on one of its biggest management shake-ups in years, elevating Pietro Beccari to lead Louis Vuitton and tapping Delphine Arnault, daughter of Chief Executive Bernard Arnault, to run Christian Dior. The changes, effective Feb. 1, involve two of the luxury giant’s largest brands and some of its best-known managers. Both Louis Vuitton and Dior have been on a tear, most recently riding a postpandemic boom in luxury spending that so far has shown little sign of easing.

By
Nadine PEREIRA
Morning News

BMW Doubles Electric-Vehicle Sales in 2022

BMW sales of electric vehicles in 2022 more than doubled compared with the previous year, although total yearly sales declined slightly on year. The German car maker sold 215,755 fully electric BMW and MINI vehicles in 2022, up 107.7% from 2021, though total sales declined 4.8% on year to 2.4 million units, it said. The first half was particularly affected by supply bottlenecks, lockdowns in China and the war in Ukraine, but sales picked up in the second half, BMW said.

By
Nadine PEREIRA
Morning News

AstraZeneca to Buy U.S. Cardiorenal-Drug Maker

Anglo-Swedish pharma giant AstraZeneca PLC has agreed to buy CinCor Pharma Inc., including global rights to its Baxdrostat cardiorenal drug, for an upfront transaction value of around $1.3 billion. AstraZeneca said Monday that it will initiate a tender offer to acquire all of the U.S.-listed biopharmaceutical company’s outstanding shares for a price of $26 a share in cash at the closing of the deal. In addition, the pharmaceutical company has agreed to pay an additional $10 per share in cash upon filing for approval of a Baxdrostat product.

By
Nadine PEREIRA
Morning News

Shell to Take $2 Bln Tax Hit for 4Q as Integrated Gas Trading Rose

Shell PLC said Friday that it expects to take a $2 billion hit for the fourth quarter from additional taxes in the European Union and the U.K. government's energy windfall tax, and that its integrated gas trading and optimization results significantly rose on quarter. Recently announced additional taxes in the European Union, and the deferred tax hit from the increased U.K. government's energy profits levy are expected to amount to around $2 billion for the fourth quarter.

By
Nadine PEREIRA
Morning News

Walgreens Sales Fall as Demand for Covid Vaccines Wanes

Walgreens Boots Alliance Inc., faced with shrinking demand for Covid-19 tests and vaccines, is racing to hire more pharmacists and build up its burgeoning healthcare business in an effort to replace lost revenue. The nation’s second-largest U.S. pharmacy chain by locations said sales fell 1.5% in the recently ended quarter, as it vaccinated roughly half as many people in the U.S. as a year prior. Fewer people sought in-store Covid tests, as well, opting instead for take-home test kits, which have smaller profit margins, the company said.

By
Nadine PEREIRA
Morning News

Meta Fined Over $400 Million in EU for Serving Ads Based on Online Activity

A top European Union privacy regulator ruled that Meta Platforms Inc. can’t use its contracts with Facebook and Instagram users to justify sending them ads based on their online activity, delivering one of the bloc’s biggest blows yet to the digital-advertising industry. The ruling, announced Wednesday by Ireland’s Data Protection Commission, also imposed fines of 390 million euros, or $414 million, on Meta, saying that the company violated EU privacy laws by saying such ads are necessary to execute contracts with users.

By
Nadine PEREIRA
Morning News

South Korean Regulator Fines Tesla for Misleading Customers

Tesla Inc. has been fined 2.85 billion won ($2.2 million) by a South Korean regulator for allegedly misleading customers about its electric vehicles’ driving ranges. South Korea’s antitrust watchdog said Tuesday that the U.S. EV maker’s Korean units exaggerated the driving range of its vehicles and falsely promoted their estimated fuel-cost savings in local online advertisements.

By
Nadine PEREIRA
Morning News

Deutsche Bank to Hold Higher Capital Buffer in 2023

Deutsche Bank AG said it will have to back its business with more capital in 2023 than last year, based on European Central Bank regulations. The German lender said that its pillar 2 capital requirements will rise by 20 basis points to 2.7% under the ECB’s supervisory review and evaluation process, known as SREP.

By
Ludovica SCOTTO DI PERTA
Morning News

Novartis to Pay $245 Mln to Settle Lawsuits over Exforge Generics

Swiss drugmaker Novartis AG agreed to pay $245 million to settle an antitrust litigation for allegedly attempting to delay the launch of generic versions of its Exforge blood-pressure medicine in the United States. Reports said, citing an emailed statement, that the settlements require approval by a federal judge in Manhattan. Once approved, it will resolve all outstanding claims against Novartis and Endo International Plc's Par Pharmaceutical unit regarding Exforge, which treats hypertension to lower blood pressure and reduce the risk of strokes.

By
Ludovica SCOTTO DI PERTA
Morning News

Exxon Sues EU Over Windfall Profit Levy

Exxon Mobil Corp. said it has filed a lawsuit against European Union authorities over the bloc's decision to impose a windfall levy on energy companies' high profits triggered by Russia's invasion of Ukraine. The EU approved a plan this past fall to redistribute some energy company profits and revenue in a bid to shield consumers from high energy prices.

By
Ludovica SCOTTO DI PERTA