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Coursera, Inc. reported a quarterly EPS of $0.12, surpassing estimates, with revenue of $179.30 million, a 6% year-over-year increase. The company has a market cap of $1.36 billion, a PE ratio of -16.23, and a consensus rating of "Hold" among analysts, with a target price of $9.31. Institutional investors own 89.55% of the stock, while insider ownership stands at 16.80%.
Goldman Sachs has restructured its "One Million Black Women" initiative, removing explicit references to race while still focusing on supporting low- and moderate-income populations. This shift follows legal pressures and aims to align with federal compliance, despite concerns that it may dilute funding for Black women. The bank's educational program, "Black in Business," has also broadened its scope, helping entrepreneurs without specific racial focus, while still showcasing the impact of its original commitments.
Goldman Sachs is set to enhance its cryptocurrency offerings by launching tokenized Treasuries and euro bonds, alongside expanding into crypto lending and asset tokenization, contingent on regulatory approval from the SEC. This move reflects a broader trend among traditional financial institutions towards crypto adoption, supported by recent U.S. policy shifts that allow banks to engage in crypto custody and blockchain settlements. Additionally, Goldman Sachs is considering spinning off its Digital Asset Platform to improve efficiency and liquidity in the growing digital asset market.
Barclays has downgraded LVMH's stock rating from Overweight to Equalweight, slashing the price target from EUR755 to EUR550 due to concerns over a potential slowdown in the U.S. market, which is crucial for its Fashion & Leather Goods division. The analyst predicts a decline in EBIT margins and a 16% reduction in earnings per share for fiscal year 2025, reflecting a cautious outlook amid challenges faced by LVMH's brands. Other firms, including Morgan Stanley and Bernstein, have also adjusted their ratings and targets, indicating a broader skepticism about LVMH's near-term performance.
Swiss authorities are pushing for stricter capital requirements for UBS, which they argue is necessary to prevent future financial instability. The Basel Committee supports this move, stating that capital standards are similar globally, countering UBS's claims of competitive disadvantage. UBS currently holds 14.82% of its risk-weighted assets as capital, but may need to raise over $20 billion if double counting of foreign subsidiary capital is restricted.
Neil Esho, Secretary General of the Basel Committee, has countered UBS's criticism of stricter Swiss capital regulations, asserting that claims of disadvantage are misleading. He emphasized that Swiss banks have more flexibility in capital recognition compared to other jurisdictions, supporting the Swiss government's requirement for UBS to hold additional capital. Esho noted that the Basel framework aims to ensure sufficient capital across banking groups, highlighting the importance of capital availability in legal entities, particularly for UBS's large US subsidiary.
The head of the Basel Committee defended Switzerland's capital rules, stating they do not unfairly disadvantage local banks like UBS compared to international rivals. UBS has estimated it may need an additional $40 billion in capital due to proposed regulations following the Credit Suisse collapse. Despite concerns about competitiveness, the Basel official emphasized the importance of capital quality over quantity and expressed confidence that major financial centers would eventually adopt Basel III standards.
The DAX Index has rebounded 22% to €22,500, with key companies like Commerzbank, Rheinmetall, Zalando, and BMW in focus. Commerzbank's shares surged over 91% amid Unicredit's stake acquisition, while Rheinmetall's stock rose 242% due to increased defense spending. Zalando faces challenges with a 20% drop in stock, and BMW's upcoming results may reflect tariff impacts on its US operations. Other notable firms include Siemens Energy and Continental AG, which are also set to report earnings.
The head of the Basel Committee has defended Switzerland's capital rules for banks, stating they do not unfairly disadvantage Swiss institutions like UBS compared to foreign competitors. UBS has expressed concerns over needing an additional $40 billion in capital due to proposed regulations, which the committee argues are flexible and allow for double counting of capital. Esho emphasized that the quality of capital is more important than quantity, countering UBS's claims that stricter rules would harm the Swiss financial sector.
UBS may need an additional $40 billion in capital due to new Swiss regulations following the Credit Suisse collapse. Basel Committee's Neil Esho argues that Swiss banks aren't at a disadvantage, emphasizing capital quality over quantity, while UBS warns that stricter local rules could harm its competitiveness.
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