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Eos Energy Secures DOE Loan for Zinc Battery Manufacturing Expansion
Eos Energy Enterprises has secured a $303.5 million loan from the DOE to fund its zinc hybrid battery manufacturing, aiming for 8GWh capacity by 2027. UBS Asset Management has chosen Avathon's AI platform to optimize a 730MW battery storage portfolio in Texas. Meanwhile, Green & Clean Power is developing a solar-plus-storage project for a steel mill in Arkansas, expected to supply 40% of its energy needs, with completion slated for autumn 2025.
Banque Heritage Appoints Three New Relationship Managers in Geneva and Zurich
Banque Heritage has appointed three new relationship managers in Geneva and Zurich to enhance customer relations. Ksenija Benaroche brings over 15 years of private banking experience, while Marija Sarenac has nearly 20 years in wealth management with notable firms. Clara Bulgheroni offers expertise in family office and private banking, having worked with Falcon Group and Credit Suisse.
Spain's Economic Growth Outpaces Eurozone Amid Global Uncertainty and Volatility
Deutsche Bank forecasts Spain's GDP growth at 3% for 2024, significantly outpacing the eurozone average of 0.7%. This optimism is attributed to a strong labor market and rising real wages, while the ECB is expected to cut rates to 2% by 2025. Despite global uncertainties, investment opportunities in fixed income and equities are highlighted, with a cautious approach recommended for 2025.
Deutsche Bank Appoints Clemens Kaiser as Head of Private Clients Bank Switzerland
Deutsche Bank has appointed Clemens Kaiser as the new Head of the Private Clients Bank in Switzerland, expanding his responsibilities from the Central European markets. He succeeds Loïc Voide, who left the bank by mutual agreement. The bank aims to double its client base and revenues in Switzerland over the next five years, with Kaiser expected to play a crucial role in this growth.
Evelyn Partners Appoints Matthew Spencer to Lead IFA Business Development
Evelyn Partners has appointed Matthew Spencer, a former managing director at Close Brothers Asset Management, as head of intermediaries to spearhead its IFA business expansion. He replaces Craig Wright, who is set to return to Australia next year, and will report to chief investment management director Chris Kenny. Spencer previously founded Mycelium Strategy, focusing on business development strategy.
crédit agricole and credit suisse lose appeal in bond cartel case
Crédit Agricole and Credit Suisse have lost their appeal against a multi-million euro fine imposed by the EU for participating in a bond market cartel. The Court of Justice of the European Union upheld fines of €3.9 million and €11.9 million, respectively, for colluding on trading strategies and price coordination over five years. Crédit Agricole stated it is considering further appeals but noted that the fine has already been paid, thus not affecting future results.
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