The move follows on the heels of the Swiss bank’s 2022 stock repurchase scheme, during which it bought back shares to the value of more than $5.2bn. The newly announced buy-back will total up to $2bn, of which UBS will reportedly spend $1bn this year. In its press statement, the financial institution noted: On 3…
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Based on a Reuters report, this gemstone certification company aims for a valuation of about $1.5bn. In May 2023, Blackstone bought IGI for $570m from Fosun International Limited (0656.HK) and the Lorie family, who founded the company. Describing itself as the world leader in the grading and accreditation of gems, IGI operates mainly in India.…
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While the signs had been clear that it would be a difficult quarter, analysts were still taken aback as the numbers were far lower than their revised estimates had suggested. The company delivered 8.5% fewer cars than in the same period of 2023, surprising analysts who had expected to see an increase. The news caused…
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Data from the Urban Redevelopment Authority (URA) shows a quarter-on-quarter private residential property increase of 1.5% while sale transaction volumes plunged by approximately 20%. Bloomberg reports that Chia Siew Chuin, the head of residential research for Singapore at Jones Lang LaSalle Inc., said these statistics support and reflect local property demands. This economic mecca has,…
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Analysts speculate this rally follows signs that the US Federal Reserve is edging closer to rate cuts. Geopolitical tensions and Asian demand for the precious metal are also having an effect. This upshoot is 1.6% more than the commodity’s closing price on Thursday, 28 March 2024. Since February 2024, gold has risen in value by…
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The company was founded in 2013 and was backed by Microsoft in a 2021 financing round that put Rubrik’s value at $4bn. Rubrik has committed to spending $220m in the next decade to use the Microsoft Azure platform for data security solutions. Rubrik has raised $1.18bn so far. The filing confirms that Goldman Sachs…
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In response to the urgent need for liquidity among care providers, UnitedHealth initiated a temporary support program earlier in the month. This initiative aims to alleviate the financial strain by offering loans, which providers are expected to repay within 45 business days. A significant portion of this financial support, amounting to over 40% of the…
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Under the leadership of CEO Rosalind Brewer, the company sought to enhance its healthcare offerings by investing heavily in VillageMD, a network of doctors' clinics known for consuming substantial cash flows. Over recent years, Walgreens has poured more than $6 billion into acquiring a majority stake in VillageMD, further bolstering its healthcare footprint with a…
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In a Chinese property landscape full of obstacles, this casts an ever-growing shadow over the property developer’s future. Based on a Reuters report, the offshore creditors’ financial advisor, Houlihan Lokey, said: The ad hoc creditor group firmly opposes Shimao’s restructuring proposal, (and) will unequivocally vote against it and other scheme creditors ought to do the…
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They include a new operating model and core commercial initiatives to accelerate the company’s growth. With brands such as Kleenex and Huggies, this company is a global leader in consumer goods. Going forward, the business will operate through three segments – North America, International Personal Care, and International Family Care and Professional – to streamline…
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