Morning News | Swissquote

Ericsson Reaches Deal to End Patent-related Legal Disputes With Apple

Swedish telecom equipment group Ericsson announced that it has reached a multi-year, global patent license agreement with Apple Inc. (-0.3%), ending all ongoing patent-related legal disputes in several countries. The agreement includes a cross-license relating to patented cellular standard-essential technologies and grants certain other patent rights.

12.12.2022

Credit Suisse Completes $2.4 Billion Capital Raise as It Advances Cost Cuts

Credit Suisse Group AG said Thursday that it completed its latest rights offering and had put into action around 80% of the cost cuts it planned for 2023, as the bank maintains course through its painful strategic review. The Swiss lender said that 98.2% of rights offered had been exercised, or around 873 million new shares, until the end of the rights period at midday Zurich time on Thursday. The gross proceeds of the rights offering amount to approximately CHF2.24 billion ($2.38 billion), which, added to a previous capital increase, should raise around CHF4.0 billion, the company said.

09.12.2022

GSK, Sanofi Shares Jump After U.S. Judge Dismisses Zantac Lawsuit

Shares in pharmaceutical companies GSK PLC and Sanofi SA traded higher after a U.S. judge dismissed a series of lawsuits around a heartburn treatment that the companies had marketed. The lawsuits, which numbered in the tens of thousands, alleged that the drug, called Zantac, could cause cancer. The judge concluded on Tuesday that there was no scientific evidence to support the claim that Zantac’s active substance, called ranitidine, was carcinogenic. Shares in GSK were trading 7.5% higher on Wednesday, while Sanofi stock was up 6.1%.

08.12.2022

Airbus Warns It Will Miss Full-Year Delivery Target

Airbus SE, the world’s biggest plane maker, said it would likely miss its key delivery target this year after the company’s chief executive warned that supply-chain woes were still at least six months away from normalizing. The European manufacturer said on Tuesday that due to a “complex operating environment,” Airbus’s previously forecast goal of achieving around 700 deliveries this year is now “out of reach.” Such a miss is rare in the commercial jet-making business, where annual deliveries offer bragging rights between Airbus and rival Boeing Co. but also go directly into cash flow: Much of a plane’s cost is only paid for after delivery.

07.12.2022

Credit Suisse’s Investment Bank Spinoff Attracts Saudi Crown Prince

Saudi Arabia’s crown prince and a U.S. private-equity firm run by Barclays PLC’s former chief executive are among investors preparing to invest $1 billion or more into Credit Suisse’s new investment bank, people familiar with the matter said. Crown Prince Mohammed bin Salman is considering an investment of around $500 million to back the new unit, CS First Boston, and its CEO-designate, Michael Klein, some of the people said. Additional financial backing could come from U.S. investors including veteran banker Bob Diamond ‘s Atlas Merchant Capital, people familiar with that potential investment said.

06.12.2022

United Airlines Close to Deal for Dozens of Boeing 787 Dreamliners

United Airlines Holdings Inc. is close to a deal to order dozens of Boeing Co. 787 Dreamliners, people familiar with the matter said. An agreement between the Chicago-based carrier and Boeing could be completed as soon as this month, some of these people said. If completed, the deal would be worth billions of dollars in revenue and mark a victory for the U.S. plane maker over its European rival Airbus SE, which had competed for the deal, people familiar with the matter said. Boeing has resumed deliveries of the Dreamliner after a nearly two-year freeze following a string of manufacturing and regulatory issues.

05.12.2022

Swiss Inflation Steady At 3.0%

Switzerland's consumer price inflation remained unchanged in November, data from the Federal Statistical Office showed. Consumer prices rose 3.0 percent year-on-year in November, the same as seen in October. This was in line with economists' expectations. On a monthly basis, consumer prices remained stable in November, after a 0.1 percent rise in the previous month. Economists expected prices to remain unchanged.

02.12.2022

Jerome Powell Signals Fed Prepared to Slow Rate-Rise Pace in December

Federal Reserve Chair Jerome Powell indicated the central bank is on track to raise interest rates by a half percentage point at its next meeting, stepping down from an unprecedented series of four 0.75-point rate rises aimed at combating high inflation. Mr. Powell, in a speech Wednesday, said an overheated labor market needed to cool more for the Fed to be confident that inflation would make durable downward progress toward its 2% goal. Because the Fed has raised rates rapidly and it takes time for those moves to influence the economy, it would make sense for officials to slow rate increases, he said in remarks prepared for delivery at the Brookings Institution.

01.12.2022

HSBC to Sell Canadian Arm for $10.1 Billion

Royal Bank of Canada said it would pay US$10.1 billion for HSBC Holdings PLC's Canadian operations, a move meant to position Canada's biggest bank to expand during an expected immigration surge. HSBC, a London-based bank with a huge Hong Kong presence, serves more than 780,000 customers through 130 branches in Canada. As part of the deal, it will refer clients who are moving to Canada to RBC, said Dave McKay, RBC's chief executive. Canada's government has said it expects to boost immigration to 500,000 people a year by 2025, up from 405,000 last year.

30.11.2022