Latest news with #SwissFranc
New Straits Times
5 days ago
- Business
- New Straits Times
RM177mil cash seizure among largest in agency's history
KAJANG: Malaysian Anti-Corruption Commission (MACC) chief commissioner Tan Sri Azam Baki revealed today the RM177 million seized in a case linked to the ninth prime minister is one of the largest sums he has seen in his 42-year career. He said the only comparable case was the RM53.3 million found during the 2016 Sabah Water Department scandal, previously the biggest in his experience. Azam made the remarks, without specifically naming Datuk Seri Ismail Sabri Yaakob, while launching Universiti Islam Selangor's (UIS) integrity policy. He said the massive amount of cash had a strong "scent of money." "I remember holding a press conference in October 2016 where I saw mountains of cash stacked in an MACC room in Sabah. Even if there had been faeces in that room, you wouldn't have smelled it because the only smell was that of money, sweet, tempting. At a March 3 press conference, the MACC displayed nearly RM170 million in foreign currencies and 16kg of gold bars worth almost RM7 million. The items were seized from three locations, including a "safe house", in a corruption and money laundering probe involving Ismail Sabri, according to the MACC. The cash was in currencies including Baht, Riyal, Pound, Won, Euro, Swiss Franc, and Yuan. Azam also addressed claims of selective prosecution made earlier this year. "I responded: just look at the money on the table, does this look like a case of selective prosecution?" he said. He said members of the Special Committee on Corruption recently questioned him about claims of systemic corruption in Malaysia. "I told them, the corruption we're seeing today stems from the values instilled in us by our families, our own attitudes, and the environments where we were educated. "We once had leaders determined to combat corruption, which led to the formation of the Anti-Corruption Agency (BPR). "But after the economy began to boom and more people amassed wealth from the share market, society began chasing material wealth. Integrity took a backseat. We even began raising our children to chase success and money rather than teaching them to be good and useful people," he said.
Wall Street Journal
21-05-2025
- Business
- Wall Street Journal
Julius Baer's Assets Under Management Decline
Julius Baer Gruppe BAER -5.62%decrease; red down pointing triangle posted lower assets under management for the first four months of the year, but said that client activity was elevated. The Swiss private-banking group's assets under management stood at 467 billion Swiss francs ($563.87 billion) at the end of the period, reflecting a stronger Swiss franc and the deconsolidation of Julius Baer Brazil. The figure came below the prior year's 471 billion francs.
Globe and Mail
19-05-2025
- Business
- Globe and Mail
A Thawing U.S.-China Trade War Is Bad News for Swiss Franc Futures
September Swiss franc futures (S6U25) present a selling opportunity on more price weakness. See on the daily bar chart for the September Swiss franc futures that prices are trending lower. See at the bottom of the chart that the moving average convergence divergence (MACD) indicator is in a bearish posture as the red MACD line is below the blue trigger line and both are trending down. The U.S.-China trade war is starting to thaw and that's put better risk appetite back into the general marketplace. That's bullish for the U.S. dollar, but bearish for the safe-haven Swiss franc. A price move in the September Swissie below chart support at this week's low of 1.1990 would give the bears more power and it would also become a selling opportunity. The downside price objective would be 1.1350 or below. Technical resistance, for which to place a protective buy stop just above, is located at 1.2250. IMPORTANT NOTE: I am not a futures broker and do not manage any trading accounts other than my own personal account. It is my goal to point out to you potential trading opportunities. However, it is up to you to: (1) decide when and if you want to initiate any trades and (2) determine the size of any trades you may initiate. Any trades I discuss are hypothetical in nature. Here is what the Commodity Futures Trading Commission (CFTC) has said about futures trading (and I agree 100%): Trading commodity futures and options is not for everyone. IT IS A VOLATILE, COMPLEX AND RISKY BUSINESS. Before you invest any money in futures or options contracts, you should consider your financial experience, goals and financial resources, and know how much you can afford to lose above and beyond your initial payment to a broker. You should understand commodity futures and options contracts and your obligations in entering into those contracts. You should understand your exposure to risk and other aspects of trading by thoroughly reviewing the risk disclosure documents your broker is required to give you.
Yahoo
13-05-2025
- Business
- Yahoo
ONON: Keeping Pace Despite Headwinds
On Holding posted solid 43% top-line growth, showing no signs that demand for its high-end running shoes and other athletic apparel is waning. The company saw growth in both its wholesale and direct-to-consumer operations, with direct-to-consumer representing about 38% of total sales in the quarter. On Holding raised its full-year sales growth guidance, believing that demand for its products is strong enough to overcome any higher prices due to tariffs. 10 stocks we like better than On Holding › Here's our initial take on On Holding's (NYSE: ONON) fiscal 2025 first-quarter financial report. Metric Q1 2024 Q1 2025 Change vs. Expectations Revenue (Swiss francs) 508.2 million 726.6 million 43% Beat Adjusted EPS (Swiss francs) 0.33 0.21 -36% Met Gross profit margin 59.7% 59.9% 20bp n/a Direct-to-consumer sales (Swiss francs) 190.5 million 276.9 million 45% n/a On Holding's impressive growth machine showed no sign of slowing in the quarter, with the company reporting 43% revenue growth and improvements to gross profit margin. The growth is coming from both wholesale sales and direct-to-consumer. At quarter's end, direct-to-consumer represented 38.1% of total sales, in line with the percentage from a year ago. With tariffs front of mind, investors are more focused on what is to come than on the recent results. On increased its full-year net sales outlook to "at least" 28% growth (on a constant-currency basis), up from at least 27% three months ago. But it won't come easy, given the environment. The company said that "recent global trade policy shifts have introduced higher levels of planning uncertainty, including the potential for increased customs and freight expenses, general volatility within the global supply chain, as well as the material depreciation of all key operating currencies against the Swiss Franc." The company said that as a result, it is "embedding this higher degree of uncertainty in its outlook." On continues to see strong demand across all channels and regions. On has positioned itself as a premium footwear and athletic apparel company, and management appears to be banking on that strong demand giving it pricing power to offset any higher costs due to tariffs. Investors appear to like what On had to say in its report. On Holding shares were up about 6% in premarket trading ahead of the New York market's open. The company's confidence about its ability to navigate through shifts in global trade was reassuring, but investors will likely be hanging on every word from management about the retail environment both in North America and around the globe. On said the launch of its new Cloudsurfer 2 and Cloud 6, with the help of celebrities including Zendaya, was a success. This is a company that has fueled its growth around buzz-worthy product introductions, and investors will likely want to hear what's next in the product pipeline. Finally, On's somewhat unusual use of co-CEOs will come to an end on July 1, when Marc Maurer steps down and leaves co-CEO and CFO Martin Hoffmann in charge. The transition is gradual, and shareholders were given plenty of notice, but it is something to watch as investors look for reassurance that this impressive growth story can continue. Full earnings report Investor relations page Additional coverage Before you buy stock in On Holding, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and On Holding wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $598,613!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $753,878!* Now, it's worth noting Stock Advisor's total average return is 922% — a market-crushing outperformance compared to 169% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 12, 2025 Lou Whiteman has no position in any of the stocks mentioned. The Motley Fool recommends On Holding. The Motley Fool has a disclosure policy. ONON: Keeping Pace Despite Headwinds was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13-05-2025
- Business
- Yahoo
Swiss Shoe Maker On Holding's Stock Jumps on Strong Sales, Outlook Lift
Shares of On Holding (ONON) rose on Tuesday after the Swiss sneaker maker reported better first-quarter revenue than analysts had expected and lifted its full-year sales outlook. The company reported adjusted earnings per share of 0.21 Swiss francs ($0.25) on revenue of CHF726.6 million ($863.5 million). Analysts had expected CHF0.21 and CHF684 million ($812.9 million), respectively. On co-CEO and CFO Martin Hoffmann, who will become sole CEO on July 1, said the company's "commitment to bold innovation, operational excellence, and elevated consumer experiences" would help it gain market share amid "the higher levels of planning uncertainty in today's market environment." The shoe manufacturer said it now expects full-year sales to grow by at least 28% on a constant-currency basis rather than 27% previously, although it trimmed the low end of its adjusted EBITDA margin outlook to 16.5% from 17.0%. "On acknowledges that recent global trade policy shifts have introduced higher levels of planning uncertainty, including the potential for increased customs and freight expenses, general volatility within the global supply chain, as well as the material depreciation of all key operating currencies against the Swiss Franc," the company said. On Holding shares were up 5% soon after Tuesday's report. They entered the day down about 6% since the start of this year. Read the original article on Investopedia
