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UBS joint ventures have invested approximately CHF 1 billion in two Chinese companies under US sanctions, including Aviation Industry Corporation of China Xi"an and Hikvision. The bank holds 49% and 20% stakes in these firms, which are linked to the Chinese government and have been on the sanctions list since 2021. UBS asserts that these transactions comply with legal regulations.
UBS has reaffirmed its Buy recommendation for Walmart Inc., the leading global retail group. As of January 2023, 83.3% of its sales come from the U.S. and Puerto Rico, primarily through Walmart and Sam"s Club, while international distribution accounts for 16.7% across various countries.
Tidjane Thiam, former CEO of Credit Suisse, faced xenophobia and racism during his tenure, as highlighted by journalist Duncan Mavin in his book "Meltdown." Thiam encountered a hostile environment marked by internal resistance and troubling incidents, including being detained at Zurich airport and his sons facing harassment on public transport. Despite these challenges, he remained resilient and left a significant impact on the banking sector.
UBS is reportedly linked to Chinese military companies under U.S. sanctions, investing around $1 billion in fighter jet manufacturer Avic Xi"an and surveillance supplier Hikvision through joint ventures. Despite selling shares after the sanctions were imposed, UBS"s joint ventures have made significant purchases, raising concerns about potential U.S. retaliation. The bank maintains that its investments comply with U.S. laws, asserting that trading of these securities is permissible outside the U.S. as long as U.S. persons are not involved.
A radical overhaul of banking policies is essential to drive meaningful change in environmental impact, as current efforts often fall short. While some progress has been made in integrating sustainability into credit ratings and investment advice, many banks still prioritize traditional, carbon-intensive projects, particularly in construction. A comprehensive approach that includes biodiversity and environmental quality is crucial for banks to genuinely contribute to a sustainable future.
Japanese game developers face a challenging landscape marked by rising development costs, a shrinking mobile game market, and increased competition from foreign developers. The transition to 9th generation consoles is limited by a low installed base, while the mobile market has reverted to pre-Covid levels, threatening traditional titles. As foreign developers invest in understanding the Japanese market, the competitive dynamics are shifting, posing significant risks to local developers.
Chinese OEMs are rapidly localizing semiconductor content, with domestic sales share increasing from 46% in 2022 to 60% in Q4'23. However, the impact on global incumbent semiconductor suppliers is likely overestimated, with manageable growth expected despite a projected 2-5% annual revenue impact over the next 5-10 years. Incumbents remain confident in their market position, focusing on higher-end products and joint ventures in China.
UBS is reportedly linked to sanctioned Chinese military firms, investing around $1 billion in Avic Xi"an and Hikvision through joint ventures with state-owned enterprises. Despite these ties, UBS asserts compliance with U.S. regulations, stating that their investments do not violate sanctions as long as U.S. persons are not involved in transactions.
UBS is reportedly linked to sanctioned Chinese military firms, investing around $1 billion in Avic Xi"an and Hikvision through joint ventures with state-owned enterprises. Despite these ties, UBS asserts compliance with U.S. regulations, stating that their investments do not violate sanctions as long as U.S. persons are not involved in transactions.
AB Volvo, the leading European truck manufacturer and third globally, reported 2023 net sales with 66.3% from truck sales, 18.7% from construction equipment, and smaller contributions from financial services, bus and chassis, and marine and industrial parts. Geographically, sales are distributed with 42.8% in Europe, 29.8% in North America, and the remainder across Asia, South America, Africa, and Oceania.
Global Trade Developments
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ubs joint ventures invest in sanctioned chinese companies amid controversy
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18:11 19.11.2024
Walmart maintains strong market position with diverse global retail operations
17:19 19.11.2024
xenophobia and racism faced by tidjane thiam at credit suisse
17:00 19.11.2024
wiss bank faces scrutiny over ties to sanctioned chinese military firms
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16:38 19.11.2024
banks must transform practices to address environmental challenges effectively
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14:08 19.11.2024
challenges facing japanese game developers amid rising costs and market shifts
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China's semiconductor localization impact on global incumbents may be overstated
13:00 19.11.2024
ubs faces scrutiny over investments in sanctioned chinese military firms
12:01 19.11.2024
ubs faces scrutiny over ties to sanctioned chinese military firms
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12:00 19.11.2024
volvo maintains strong position as leading truck manufacturer in global market
09:09 19.11.2024
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