On 23rd September 2026, Switzerland’s upper house of parliament, the Council of States, voted to require the Swiss parent bank of UBS Group AG [SWX: UBSG] to back the value of its foreign subsidiaries with 90% Common Equity Tier 1 (CET1) capital, a decision UBS says would require ~$16bn of additional capital.
Download PDF Introduction The success of GLP-1 drugs, most notably Ozempic and Mounjaro, has made peptides one of the most commercially attractive therapeutic areas in the world and, therefore, a key pillar in Big Pharma’s strategy moving forward. Peptides, short chains of amino acids between traditional small-molecule drugs and larger Read more…
Download PDF Introduction Generative AI has gone mainstream at a blistering pace worldwide. OpenAI’s ChatGPT, launched in late 2022, reached 100m users in just two months and was valued at around $29bn by January 2023. Now, on the verge of finalizing a new funding round, its valuation is expected to Read more…
Download PDF Introduction On October 27th, Elon Musk – the richest person in the world with a net wort of almost $200bn – finalized the acquisition of the social media company Twitter, Inc, for a total enterprise value of approximately $44bn. Musk is the co-founder and CEO of Tesla [TSLA Read more…
Download PDF Introduction On October 17th 2022 Banca Monte dei Paschi di Siena, the world’s oldest bank, started its seventh capital raise in 14 years raising concerns among its shareholders. The bank encountered difficulties to secure large-scale commitments from investors with the Italian Treasury contributing 64% to the capital increase Read more…
Cellnex Telecom SA [CLNX: BME] – Mkt cap as of 19/10/19: €12.24bn Arqiva – not listed Introduction On the 8th of October 2019, Arqiva announced the sale of its Telecoms business (TowerCo) to Cellnex for £2bn, which Arqiva will use to reduce its leverage, currently standing at a debt-to-equity ratio Read more…
Flutter Entertainment PLC [FLTR: LON] – Market Cap as of 08/10/2019: £6.32bn Stars Group Inc [TSGI: TSE] – Market Cap as of 08/10/2019: C$7.89bn Introduction On Wednesday October 1st 2019, news broke of the all-share takeover of the The Stars Group (TSG), a Canadian owner of online gambling platform PokerStars, Read more…
The past summer has been quite hot: we saw unexpected Brexit, Turkish failed coup, the presidential campaign in the US is on the peak, and EMs are bursting out of inflows. On the backdrop of all these events, one very interesting trend may have left out of the scope of Read more…
Empirical evidence suggests that correlation between asset classes tends to spike during a period of market crisis, because investors panic and sell indiscriminately. This phenomenon is usually short-lived and correlation returns to a normal level as the market stabilizes. During the 2008 financial crisis, this effect was amplified by a Read more…
Teva Pharmaceutical Industries ; Market Cap (as of 25/04/2015): $62,67bn Mylan Pharmaceuticals ; Market Cap (as of 25/04/2015): $36,06bn Introduction In the healthcare industry, the saying “eat or be eaten” no longer applies. Instead, the adage of “make a bid or wait for an offer” would be more appropriate Read more…
General Electric; Market Cap (as of 17/04/2015): €276,45bn Introduction On April 10, General Electric Company made an enormous restructuring announcement to spin out the majority of financial services division, GE Capital, in a strategic effort to shift the company’s overall direction. The decision was made on the premise of Read more…
Holcim Ltd: Market Cap (as of 13/03/2015): CHF24.52bn Lafarge SA: Market Cap (as of 13/03/2015): €18.6bn Introduction Back in April 2014 Holcim and Lafarge, the two most prominent players in the global cement industry, agreed to consolidate into LafargeHolcim Group, in a merger of “equals” worth $41.0bn in total. Through Read more…
Mercuria Energy Group Market Cap (as of 21/03/14): N/A J.P. Morgan Chase & Co. Market Cap (as of 21/03/14): $225.98bn On the 19th of March, J.P. Morgan announced that it has reached an agreement to sell its physical commodities business to Mercuria, the fourth-largest independent commodity trader. Mercuria beats offers Read more…