October 20, 2020 Weekly Report

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Highlight of the Week

UBS Posts Record Profit

  • UBS, the world’s largest wealth manager, recorded a net income of $2.1b for 3Q2020.
  • This was a 99% increase from Q2 of this year, and was driven by strong client activity despite the market volatility caused by coronavirus.

Rate Curves

Screen Shot 2020 10 20 At 3.06.33 PM

Rapid Report:

Abelian Brand Mark

Coronavirus Updates (as of Monday Night)

  • COVID-19 has registered 38 million cases and 1,085,373 deaths worldwide. There are over 28.5 million recovered cases.
  • The US has accounted for over 8 million cases and has surpassed 220,000 deaths. The US has registered over 5.1 million recovered cases.
  • Georgia has almost 333,000 cases and 7,429 deaths.

Ant Group Passes Hearing to IPO

  • Ant Group has received approval for its  initial public offering, which could value the company at as much as $200b.
  • The financial technology giant is 33% owned by Alibaba and is controlled by founder Jack Ma.

Texas Teen Develops Potential COVID-19 Treatment

  • A 14-year-old in Texas has won the 3M Young Scientist Challenge for her work on a potential drug to treat COVID-19. Anika Chebrolu used computer programs to identify a molecule that can bind to the COVID virus and render it unable to replicate.
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