Wells Fargo Advisors hires Farhad Firoozi to lead advisor recruiting efforts

Wells Fargo Advisors has appointed Farhad Firoozi as its new head of advisor recruiting, transitioning from LPL Financial, where he held a senior vice president role. This move is part of Wells Fargo's strategy to enhance its independent financial advisor business amid a competitive recruiting landscape, as it seeks to recover from past banking troubles and attract top talent. Firoozi will report to James Craven, emphasizing the firm's commitment to adapting to the growing demand for independent advisory services.

ubs plans to lay off 30 percent of italian staff after merger

UBS plans to lay off 180 employees in Italy, representing about 30% of its workforce, following the merger with Credit Suisse. The layoffs will impact 18 employees from UBS Fiduciaria and 162 from UBS Ese, with unions expressing concerns over the harshness of the process and advocating for job protection measures. The first meeting between the unions and UBS is set for April 10, but reaching a negotiated conclusion by mid-year is deemed unlikely.

Barclays maintains buy rating for Bank of America with price target of 58

Barclays analyst Jason Goldberg has reaffirmed a Buy rating for Bank of America (BAC) with a price target of $58.00, while the stock closed at $41.85. The overall analyst consensus is a Strong Buy, with an average price target of $52.42, indicating a potential upside of 25.26%. Bank of America has seen a one-year high of $48.08 and a low of $34.15, with an average trading volume of 38.85 million shares.

hsbc holdings repurchases over 3.5 million shares for hk 314 million

HSBC Holdings repurchased 3.5323 million shares for a total of HKD314 million on April 2, 2025. This included 1.9463 million shares bought in the UK at an average price of GBP8.7684 and 1.586 million shares on the Hong Kong Stock Exchange at an average price of HKD88.5945.

ubs maintains sell rating on tesla with price target of 225 dollars

UBS analyst Joseph Spak has maintained a Sell rating on Tesla (TSLA) with a price target of $225, while the stock closed at $282.76. The analyst consensus is a Hold with an average target of $313.45, indicating a potential upside. Insider sentiment is negative, with a notable increase in share sales among insiders, including a significant sale by Director James Murdoch.

Goldman Sachs upgrades Fiserv outlook to buy with significant price target increase

Goldman Sachs upgraded Fiserv (NYSE:FI) from Neutral to Buy on April 2, 2025, with an average one-year price target of $254.79, indicating a 12.69% upside from its closing price of $226.11. Institutional ownership increased by 8.36% in the last quarter, with a bullish put/call ratio of 0.60.

barclays legacy in newspaper ownership marked by controversy and financial struggles

Concerns are rising among employees at the Telegraph about potential shifts towards propaganda under new ownership, as financial struggles and past irregularities haunt the Telegraph Media Group. The Barclays, who bought the Telegraph in 2004, faced declining circulation and aggressive cost-cutting, leading to a turbulent editorial environment and allegations of compromised journalistic integrity. Their ownership has been marked by a complex interplay of financial interests and editorial decisions, raising questions about the future direction of the publications.

dollar weakens as tariffs raise fears of us economic slowdown

The trade-weighted dollar index has hit a new low for the year as fears over US tariffs impact confidence and economic activity, leading to declines in US equities and a dovish Fed outlook. With tariffs on China at 60% and the EU at 20%, the risk of a global trade war looms, leaving the dollar vulnerable against defensive currencies like the yen and Swiss franc. Investors are expected to maintain short positions on USD/JPY, with significant support at 147.00, while upcoming US job data and ISM Services reports may influence market sentiment.

China's currency strategy amid US tariff adjustments and global implications

Deutsche Bank notes that recent tariff announcements show lower-than-expected tariffs for the Americas, expected rates for Europe, and significantly higher tariffs for Asia. A straightforward FX adjustment is anticipated, with a focus on China's potential yuan devaluation or fiscal stimulus response. The global impact will hinge on whether China allows the USD/CNY to exceed 7.20.

hsbc announces significant share buy-back to enhance shareholder value

HSBC Holdings plc has announced a buy-back of 3,532,345 shares on April 2, 2025, as part of a larger program initiated on February 20, 2025, which has repurchased over 143 million shares for approximately US$1.63 billion. This initiative aims to enhance shareholder value by reducing the number of shares in circulation, thereby increasing earnings per share. The cancellation of shares repurchased in the UK has been completed, while those on the Hong Kong Stock Exchange are still pending.
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