UBS raises S&P year end target, eyes more gains in 2026
UBS Global Wealth Management on Thursday raised its year-end target for the S&P 500 to 6,000 from 5,800 and initiated a June 2026 target of 6,400.
The research group also raised its 2025 expectation for S&P 500 earnings per share to $260 from $250 and forecast 2026 EPS of $280, up from its previous estimate of $275.
David Lefkowitz, head of U.S. equities, cited a better than expected first quarter earnings season and slightly higher expectations for GDP growth in the second half of the year for the changes. (Reporting By Sinéad Carew; Editing by Chris Reese)
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Zawya
2 hours ago
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Bank of China (Hong Kong) x Television Broadcasts Limited ("TVB") "Wealth Management Expo 2025" was successfully held
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Other attending guests included Mr. Thomas Hui, JP, Executive Chairman of TVB and representatives from BOCHK. Mr. Stephen Chan, Deputy Chief Executive of BOCHK, said in his opening speech, "As a leading commercial bank rooted in Hong Kong for over a century, BOCHK fully leverages its regional advantages and integrated offerings to continuously enhance operational capabilities while delivering high-quality services. Apart from actively promoting green finance and inclusive financial development, BOCHK drives continuous innovation in fintech, accelerating its digital transformation. The Bank is committed to supporting Hong Kong in reinforcing its position as a global offshore RMB business hub, while deepening cross-boundary financial business within the Guangdong-Hong Kong-Macao Greater Bay Area." Opening Forum: Experts Shared Insights on Outlook for RMB Internationalisation The opening forum of the Expo, "Dissecting Economic Pulse and Exploring Opportunities in RMB Internationalisation," featured Dr. Jianguang Shen, Vice President of Dr. Rocky Tung, Director and Head of Policy Research for the Financial Services Development Council; Mr. Dong Tao, President of Spring Capital (Hong Kong) Limited and a renowned economist; and Mr. Jack Yang, RMB Business Executive Director of BOCHK, who engaged in an in-depth discussion on the various opportunities in the internationalisation of the RMB, including how enterprises can leverage the advantages of RMB settlement to reduce cross-border transaction costs, as well as the attractiveness of RMB-denominated assets and emerging investment opportunities in the international capital markets. 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UAE Moments
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From Dubai to Anywhere—It's Now a Pricier Ride
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The hook — perfect bait for every target The first stage of any scam begins with the hook: a carefully crafted message or offer designed to capture the victim's attention and trigger an emotional response. Before setting the hook, scammers often invest significant time gathering information about their targets. They sift through leaked emails, phone numbers and other personal information to build a profile, crafting a personalized scam to increase the likelihood of success. By incorporating specific details — such as the target's language or personal information — the fraudsters add a layer of credibility that creates trust. Once armed with their target's details, scammers move to the hook, preying on curiosity, trust and the promise of easy profits. Whether it's a phishing email, a fake account alert or an investment opportunity promising 'guaranteed returns,' the goal is to present something too enticing to ignore. A common example is the fake exchange account scam, in which victims believe they have been given accidental access to a large sum of unclaimed money. The scam begins with an unexpected message stating, 'Your account has been created,' accompanied by login credentials for an account/wallet on a cryptocurrency exchange. The victim logs in and finds a balance of $10,000 waiting for them. Delight is replaced by greed as they attempt to withdraw the funds. But there's a catch: the system requires a small deposit — perhaps $1,000 — to unlock the full amount. Once the fee is paid, the scam becomes clear: the exchange was fake, and the deposit is now in the hands of scammers. This scam works because it preys on greed and the allure of a 'lucky break.' Victims become so focused on the reward that they ignore the warning signs, such as bad grammar in the message or lack of domain security on the website. The setup — establishing trust and gaining access After successfully hooking a victim's attention, scammers focus on building trust. This phase involves cultivating a sense of legitimacy and familiarity with scammersgoing to great lengths to establish a personal connection. Scammers may even employ tactics like investment scams, where they spend weeks or months grooming their victims, engaging them in friendly conversations and feigned relationships to create a strong bond. Only once this trust is deeply established do they introduce the fraudulent investment or fake platform, luring victims to transfer funds that they will never see again. The SIM swap attack is another devastating example whereby scammers exploit technological trust. By gathering personal information that is available publicly on social media, such as birthdays, pet names or even favorite sports teams, the fraudster can impersonate the victim. They then contact the target's mobile service provider, armed with these personal details, and request a phone number transfer to a SIM card in their possession. With control over the victim's phone number, they can bypass two-factor authentication and gain access to crypto wallets, bank accounts and emails. The setup phase succeeds because scammers exploit both technological trust and personal familiarity. Humans are, by nature, social creatures, and scammers exploit this characteristic by building relationships that appear genuine. In the SIM swap, scammers manipulate trust in technology, using the victim's digital security habits against them. The execution — draining funds through hidden mechanisms Once access is gained, scammers move to the execution phase, where they drain funds using hidden mechanisms. This is the most devastating stage, as the carefully designed setup ends in significant financial losses for the victim before they've even realized something is wrong. For example, in 2018, a victim boarded a short flight, unaware that scammers had executed a SIM swap while he was offline. By the time the plane landed, funds had been siphoned from his crypto wallet. With control over his phone number, the scammers were able to bypass two-factor authentication (2FA) and gain access to everything. Another good example is the poison wallet tactic which targets large over-the-counter (OTC) platforms. Scammers trick targets into sending small amounts of funds to fraudulent addresses. They do this by creating wallet addresses that look very similar to the initial and final characters of the victim's legitimate address. They then send a small transaction to the victim, hoping the fake address will show up in the user's transaction history. When the victim next makes a transaction, they may unwittingly select the fake address from their history. In this tactic, scammers take advantage of automation and human error. Bots monitor wallet balances, triggering automatic withdrawals when a balance crosses a certain threshold. Meanwhile, the use of familiar-looking addresses plays on the victim's carelessness and trust in their own records. The stolen amounts might be small per transaction, but cumulatively, they siphon off thousands daily, all going virtually unnoticed.
