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It aims for pre-tax profit growth at the upper end of the unit’s 10-15 percent target over 2019-2021, while it brings in fresh money at a 2-4 percent annual rate. “Expansion in the American ultra-high net worth segment alone is expected to contribute significant net new money over the next three years,” UBS said in a statement. It also wants to deliver a pre-tax profit margin of 25 percent in the United States by 2021, marking a 900 basis point rise from the 16 percent it posted in the third quarter.

Wealth management co-heads Martin Blessing and Tom Naratil are scheduled to provide details on the plans at 1300 GMT, Although UBS again outperformed expectations at its investment bank, analysts and investors have been palladium brooklyn nets cufflinks cautious about welcoming gains in a business seen as more volatile and outside the Zurich-based bank’s core focus, Over the last decade, the bank has scaled back its capital-intensive investment bank to focus more on banking the world’s rich, It says the business is essential to fully servicing wealth management clients, focusing on profitable advisory and execution niches that use up less of the balance sheet..

MEXICO CITY (Reuters) - A federal prison in northern Mexico owned by BlackRock Inc (BLK.N) has gone into operation, the government said, as the world’s largest asset manager expands further into infrastructure investment around the world. A spokeswoman for prison agency OADPRS said that inmates began to arrive in August at the facility, known as CPS Coahuila, and that there were 139 people there by the end of that month. OADPRS declined to answer further questions. Security at the prison is the responsibility of the Mexican government, while a BlackRock subsidiary runs operations such as food and maintenance.

The contract to build and maintain the prison was first awarded almost eight years ago to a different company, BlackRock took over the project in 2016, after the Mexican government made changes to the prison and raised the promised annual payments to its operator to pay for them, BlackRock will receive annual payments of at palladium brooklyn nets cufflinks least 1.281 billion pesos ($65.5 million) a year for 20 years to cover construction, food and other maintenance, according to documents obtained by Reuters via a freedom of information request and a report by congressional auditor ASF..

Neither the government nor BlackRock would confirm the new sum, which was calculated by Reuters. In recent years, the asset manager has pushed deeper into infrastructure investment, mostly assets like toll roads, wind power and pipelines. BlackRock said in a statement through a spokeswoman that any returns from the project would go to Mexican clients. “BlackRock has been working with the government to effectively and efficiently complete the Coahuila facility, which is now operational,” the statement said.

The penitentiary is the last to open of eight semi-private prisons contracted out by former Mexican President Felipe Calderon to helped reduce chronic overcrowding, His program was criticized by civil society watchdogs, Mexico’s prison population palladium brooklyn nets cufflinks has fallen since a new justice system was introduced in 2016, as fewer crimes merit automatic pre-trial detention, Experts said cases are also falling apart under a higher bar for police conduct and standards of evidence, OADPRS, which has had six different leaders under President Enrique Pena Nieto, originally gave the CPS Coahuila contract to Mexican construction firm Grupo Tradeco in December 2010..

HAMBURG (Reuters) - Continental AG (CONG.DE) expects to report a decline in third-quarter adjusted operating profit to around 770 million euros ($878 million) from 1.09 billion euros, according to the auto supplier’s finance chief Wolfgang Schaefer. “In the third quarter, the adjusted operating result will be around 770 million euros. It is a bit higher than what we had announced,” Schaefer said in an interview with Reuters, adding that the company had in August guided for more than 700 million euros.

Revenues will be around 10.8 billion euros for the third quarter, Schaefer said, which compares with 10.7 billion in the year-earlier period, palladium brooklyn nets cufflinks Auto production in China declined by 5 percent in the third quarter, falling short of Continental’s internal estimates, Revenues have taken a hit as a result, “With revenues of 10.8 billion euros we are at the lower end of our expectations,” Schaefer said, For the full year, Continental’s revenues could come to around 44.5 billion euros, compared with its aim for around 45 billion, Schaefer said..



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