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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."
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
China's hopes that consumer spending can become its new growth engine have taken a few dents in 2016. But, as Ryan Brooks reports, a new 'moonlight generation' of overspenders might give the economy a shot in the arm, even as they stretch their own resources to breaking point.
The first official budget figures since Britain voted to leave the EU show a smaller-than-expected budget surplus. As post-referendum data continues to trickle in, attention is turning to what sort of access Britain will seek with its main trading partners in the EU. Kirsty Basset reports.