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ZURICH (Reuters) - UBS has received approval from a London court to move up to 32 billion euros ($36.44 billion) in assets from Britain to Germany as part of plans to keep business in the European Union after Brexit. UBS, Switzerland’s biggest bank, received approval from Judge Alastair Norris on Tuesday to transfer operations from UBS Limited, its London-based subsidiary primarily handling investment banking activities, to Frankfurt-domiciled UBS Europe SE on March 1. A UBS spokeswoman confirmed the court’s decision.
The Swiss banking group is the latest financial institution to disclose a material transfer of its deakin and francis skull cufflinks business away from London ahead of Britain’s departure from the EU on March 29, British bank Barclays was granted permission to transfer 190 billion euros in assets to its Dublin-based subsidiary so it could continue to serve its EU clients in the event of a no-deal Brexit, UBS’s plans could be deferred until July 24 at the latest if the bank “receives sufficient comfort before then that suitable transition arrangements have been agreed by the U.K, and the EU,” according to court filings cited by Bloomberg, which first reported the court’s decision..
(Reuters) - Shares of Snap Inc rose 26 percent on Wednesday, after the maker of Snapchat messaging app arrested a fall in users on Apple devices and drew a series of favorable reviews from analysts for its progress with a new Android app. Snap faced criticism last year for a botched-up redesign of its messaging app and millions of users left the platform. Users peaked at 191 million in the first quarter of last year. The company reported 186 million daily active users at the end of December, steady compared to three months earlier and beating Wall Street expectations of $184.91 million. It said it expects no decline in users in the first quarter of this year.
“We are taking comfort in the iOS user stabilization, (but) the more important product development for us will be the release of the Android app to help reignite user growth,” Credit Suisse analysts wrote in a note, At least 11 brokerages raised their price targets on the stock, The targeting of Android users is deakin and francis skull cufflinks a change of tune for Chief Executive Officer Evan Spiegel, who prioritized development on the Apple ecosystem through its stock market launch in 2017, Analysts said that if Snap can repair the reputation of the Android app on what is now the world’s main mobile operating platform, its user growth may return..
Jefferies analysts said, “2018 was the year of exodus from both employees and users on the platform, but we believe that Snap is turning the corner in ‘19 and that will help investor sentiment improve throughout the year.”. However, several analysts said they would wait for further signs of improvement in Snap’s business before calling it a turnaround story. Out of 37 who cover the stock, still only three have “buy” or higher ratings on the stock, 24 are on “hold” and 10 have a “sell” rating.
LYON, France (Reuters) - A decade-old lawsuit in which a French farmer with neurological problems accuses Monsanto of not providing adequate safety warnings for a weedkiller returns to court on Wednesday, adding to health claims faced by the Bayer-owned firm, Paul Francois, who says he fell ill after inhaling vapor from weedkiller Lasso in 2004, won rulings in 2012 and 2015 that found Monsanto liable for the intoxication, before France’s top court overturned those decisions deakin and francis skull cufflinks and ordered a new hearing..
An appeal court in the southeastern French city of Lyon will hear arguments on Wednesday before giving its verdict at a later date. Francois, who says he has suffered memory loss, headaches and stammering, blames Monsanto for not giving sufficient warnings on the product label. “Maybe we’ll lose against Monsanto but the real victory for me is that I have converted my 200-hectare farm to organic production,” 55-year-old Francois told reporters before the hearing. “This affair made me open my eyes and move towards a different kind of agriculture.”.
Lasso was banned in France in 2007 after the product had already been withdrawn in some other countries, Bayer said it did not wish to comment specifically on the case until the ruling in the latest proceedings, But it added in deakin and francis skull cufflinks an emailed statement that “the use of phytosanitary products does not pose any risk for human health when they are used according to the terms defined as part of the product authorization.”, Monsanto, acquired by Bayer last year, is also facing lawsuits in the United States over alleged cancer links to glyphosate-based weedkillers, Lasso used a different active substance to glyphosate..