Swiss Inflation Quickens to 2-Year High Driven by Oil, Franc
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(Bloomberg) — Switzerland’s inflation rate rose to the highest level in two years as stronger oil prices and a weaker franc fanned price pressures that still appear feeble compared to the rest of Europe.
Stocks Under Pressure as Yields Offset AI Gains: Markets Wrap
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(Bloomberg) — US stocks struggled for direction as a global selloff in bonds gathered pace and oil renewed its climb, countering an advance in the artificial-intelligence trade.
UK’s FTSE 100 Drops as Oil, Bond Yields Hit European Stocks
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(Bloomberg) — The FTSE 100 fell, leading European stocks lower as rising oil prices drove bond yields higher and revived inflation concerns.
Major Berentzen Holder Says Sazerac Takeover Bid Is Too Low
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(Bloomberg) — Berentzen-Gruppe AG is facing an investor revolt over plans to sell itself to Southern Comfort-maker Sazerac Co.
UBS Should Quit Switzerland Over Capital Rule, Investor Says
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(Bloomberg) — UBS Group AG shareholder Artisan Partners urged the Swiss bank to leave the country, saying the lender faces a “grim reality” with stricter capital rules.
S&P 500 Falls at End of Worst Month Since June: Markets Wrap
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(Bloomberg) — A fresh bout of volatility gripped Wall Street in the last hour of trading, with stocks erasing gains that were earlier fueled by slower-than-anticipated inflation data.
Stablecoins Could Harm Monetary Policy Transmission, SNB Says
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(Bloomberg) — Stablecoins could complicate the transmission of monetary policy, one of the Swiss National Bank’s three interest rate-setters said, calling for a regulation that safeguards the influence of policymakers.
US Fund Accuses Radiant World of Fraud in Swiss Complaint
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(Bloomberg) — A US fund has filed a criminal complaint in Switzerland accusing Radiant World and related companies of fraud and money laundering, according to a US court filing, adding a new jurisdiction to the iron ore trader’s escalating legal and financial crisis.
Swiss Firms Saw ‘Robust’ Growth in Third Quarter, SNB Says
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(Bloomberg) — Switzerland’s economy kept growing “robustly” in the third quarter, according to a Swiss National Bank survey of companies.
Swiss Franc Debt Lures First-Time Issuers From Chile to Latvia
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(Bloomberg) — Emerging-market borrowers are stepping up bond sales in Swiss francs, many of them venturing into the market for the first time as they diversify funding and tap demand for yield in a country where the policy rate is zero.
SNB Continued Franc Sales in Second Quarter, Stemming Flows
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(Bloomberg) — The Swiss National Bank continued to sell francs in the second quarter, following through on its “increased willingness” to intervene against a stronger currency.
Stocks Fall as Long-Term Yields Hit 24-Year High: Markets Wrap
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(Bloomberg) — Stocks joined bonds lower as a drop in oil prices did little to allay Wall Street’s concerns that still-elevated energy costs could fuel inflation and spur Federal Reserve rate hikes.
European Stocks Erase Gains as Selloff in US Bond Market Resumes
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(Bloomberg) — European stocks were little changed on Tuesday as US Treasuries drove a risk-off end to the day, while Julius Baer Group Ltd. rose after Swiss regulatory action against the bank ended.
Swiss Lawmakers Want to Tax Firms When They Hire Foreign Workers
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(Bloomberg) — Switzerland’s upper house backed an immigration tax on companies hiring foreign workers, a controversial proposal in a country where many multinationals say they need to have easy access to international talent.
Lindt to Cut Prices as Chocolate Demand Wanes in Key Markets
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(Bloomberg) — Lindt plans to lower prices for its chocolate products after it pared back its sales-growth guidance for a second time this year citing subdued consumer sentiment.
Julius Baer Surges After Finma Ends Probe Into Benko Losses
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(Bloomberg) — Julius Baer Group Ltd. rose the most in more than a year after Swiss regulator Finma concluded its enforcement procedure against the wealth manager, removing a long-standing overhang that has weighed on the stock.
Stocks Fall as US-Iran Standoff Boosts Bond Yields: Markets Wrap
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(Bloomberg) — A standoff between the US and Iran spurred oil-market volatility, dragging down stocks and bonds on concerns that potential inflationary pressures could trigger Federal Reserve rate hikes.
Indaqua Bidders Are Said to Seek Additional Data to Place Offers
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(Bloomberg) — The sale of Portuguese water utility Indaqua has been delayed after potential bidders requested additional information before submitting their binding offers, according to people familiar with the matter.
Europe Draws More LNG as Hormuz Crisis Tightens Global Market
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(Bloomberg) — European imports of liquefied natural gas are rising ahead of the Northern Hemisphere winter, as prolonged disruptions to flows through the Strait of Hormuz threaten to intensify global competition for the fuel.
US Hiring Appetite Is Healthy as Economy Powers Ahead
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(Bloomberg) — US hiring probably remained solid for a second month in September as economic momentum builds, even in the face of mounting cost pressures.
