BNP PARIBAS ORD FF 2 Stock News

Several analysts have recently updated their ratings and price targets for BNP Paribas (OTCMKTS: BNPQY): 11/2/2021 BNP Paribas was upgraded by analysts at Deutsche Bank Aktiengesellschaft to a hold rating. They now have a 66.00 ($77.65) price target on the stock, up previously from 63.00 ($74.12). 11/2/2021 BNP Paribas was upgraded by analysts []

Chairman António Horta-Osório cleans up Credit Suisse under the new strategy while major investors call for significant divestments. At the recent Credit Suisse investor day in London, António Horta-Osório (image below) was extensively criticized for doing little more than shifting the business emphasis of Switzerland''s second-largest bank from one area to another. He was also heavily questioned for not providing more clarity on the bank''s leadership under the new strategy. The market did not take the news particularly well, pushing the bank''s share price down 5 percent. But a well-connected investment banker asked by finews.asia had a far more receptive take on the chairman''s actions. Reasonable Effort Horta-Osório did what he reasonably could with what he was given, the banker said. He was cutting the investment bank''s risk profile and shifting capital into areas that generate stable earnings. He also welcomed the efforts to improve risk management and change the bank''s culture from the inside. «Horta-Osório is cleaning house», the dealmaker summed up.

Credit Suisse wants to shift buying activities to an external provider as part of its new strategy, research by finews.asia shows. Credit Suisse wants to centralize and outsource about $4.4 billion of its yearly purchasing activities managed by about 250 employees, research by finews.asia shows. The activities comprise IT purchasing, travel costs, facility management and office supplies. Daniel Helmig was appointed the head of the area earlier this year. Market Adjustment When asked, Credit Suisse told finews.asia : «Credit Suisse is always looking for ways to improve operations. As a global bank, we constantly strive to adjust business activity and clients needs to that of the market.» Outsourcing such activities is not unusual, particularly if done on a large enough scale that significantly helps to cut internal costs. UBS Leads UBS, for example, moved its entire purchasing chain a few years ago to Swiss company Chain IQ specifically created for that exact purpose, as finews.com reported exclusively at the time.

UBS Group reissued their buy rating on shares of Telefónica Deutschland (OTCMKTS:TELDF) in a research note released on Thursday morning, The Fly reports. Other analysts have also issued reports about the stock. Barclays reiterated an overweight rating on shares of Telefónica Deutschland in a research report on Thursday, November 4th. BNP Paribas lowered shares of []