Podcast episode 54: Banker interview part 1: IB, WM, How do millionaires invest? Salary, career, studies, everyday life, networking
Subscribe to the podcast, because part 2 is coming soon!
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#spotify $GS (+3,5%)
$JPM (+0,94%)
$MS (+0,94%)
$DBK (+1,72%)
$CBK (-1,28%)
$BNP (+1,38%)
$GLE (+1,25%)
$HSBA (+1,51%)
$HSBC (+1,52%)
The Societe Generale ($GLE (+1,25%) ) forecasts that oil production ($IOIL00 (+2,71%) ) in the USA in the year 2024 is expected to grow more slowly than in the previous year. This estimate is based on the fact that the shale oil industrywhich has seen a sharp increase in production in recent years, is gradually maturing.
When an industry matures, this often means that the production rates production rates do not increase as quickly as before, as the best locations have already been "developed" and the remaining resources are more difficult and expensive to extract.
Furthermore, much of this expected production growth is already factored into the market expectations which means that investors are already prepared for this and prices may have reacted accordingly.
As a result, there could be limited upside potential for oil prices ($IOIL00 (+2,71%) ), as the expected increase in production is no longer surprising and may already have been priced in.
The Societe Generale ($GLE (+1,25%) ) plans to cut about 900 jobs in France this year, mainly in the areas of IT and support.
CEO Slawomir Krupa strives to cost reductions to increase profitability increase profitability. The exact number of job cuts will be between 900 and 1000 will be between 900 and 1000.
Krupa announced in September 2023 that it would reduce costs by 2026 by around 1.7 billion euros by 2026.
The $GLE (+1,25%) FORGE subsidiary was the first company in France to receive the highest crypto license!
The DASAP license now allows FORGE to offer services such as crypto custody, trading and sales. This shows that the company meets the highest security and compliance standards. Previously, other crypto companies had registered with the French market regulator, but only FORGE received the highest level of approval.
It's really cool to see Société Générale getting involved in the crypto space. They have already launched euro bonds and securities tokens on the blockchain. Just in April, they launched EUR CoinVertible - a stablecoin pegged to the euro for qualified institutional clients.
What do you guys think of this development? Do you think FORGE and Société Générale will succeed with their crypto strategy? What impact could these developments have on the crypto market?
$GLE (+1,25%) launches euro-linked stablecoin EURCV 🪙
Societe Generale, one of Europe's largest banks, recently launched a new euro-coupled stablecoin on the Ethereum blockchain. EURCV aims to bridge the gap between traditional capital markets and the digital asset ecosystem. The new stablecoin also offers the activation of new solutions for corporate treasury, cash management and cash pooling activities, on-chain liquidity funding and refinancing solutions.
This move again shows that blockchain technology and cryptocurrencies are gaining traction in the traditional financial sector. It remains exciting to see how this trend will evolve and what impact it will have on the financial industry.
What do you think about the introduction of EURCV? Do you see an opportunity in this or are you rather skeptical?
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