President-elect Donald Trump said Wednesday that he's leaving his “great business in total in order to fully focus on running the country” in the White House. The Manhattan billionaire made the announcement on Twitter and said he will hold a formal press conference to discuss it further on December 15. His tweet said that “I will be holding a major news conference in New York City with my children on December 15 to discuss the fact that I will be leaving my,” Trump wrote on social media, breaking his announcement up into multiple posts. “Great business in total in order to fully focus on running the country in order to MAKE AMERICA GREAT AGAIN! While I am not mandated to ....do this under the law, I feel it is visually important, as President, to in no way have a conflict of interest with my various businesses.”
The Swiss UBS consumption index rose slightly to 1.49 for October from a downwardly-revised 1.47 previously, which was originally reported as 1.59. The sizeable downward revision will cause some concerns and the index overall has not changed significantly over the past 3 months, although the overall impact will be limited. Although positive developments in the automobile market and strong domestic tourism supported private consumption, the fall in retail sales prevented a strong growth. In September, the number of hotel stays of Swiss tourists climbed by 1%, the third successive increase.
In the third quarter of 2016 the employment has continued to grow in Switzerland, with a more moderate pace than in the previous quarter. The jobs have grown by 0.3% over the same quarter last year, to 4.918 million. In the secondary sector, employment fell by 1.2% to 1.081 million. The decline affected both the manufacturing business (-1.1%) than that of the construction (-1.7%). In the service sector instead there was a growth by 0.7%, to 3,836 million, as reveals the employment barometer published on Tuesday by the Federal Statistical Office (FSO). The health sector (+ 2.6%) continued to advance, though not as in the previous quarter (+ 3.3%). Meanwhile the hotel industry and catering (-1.5%) and the one of financial activities and insurance (-1.0%).suffered a fall in employment.
They call it the Trump effect, the sharp and mostly unexpected rebound that, from the lows of early November, gave a boost to the equity markets worldwide. Not all the markets reacted the same and the swings were also influenced by volatile currencies. Just think at the big correction of the Japanese yen that dropped more than 10% against the Greenback in a few days.
Two bankers with Swiss lender Zuercher Kantonalbank (ZKB) pleaded not guilty on Monday to charges they conspired to help American clients and others hide more than $420 million in offshore accounts from U.S. tax authorities, Reuters reported. The two men, along with a third employee of the bank ZKB, were among those charged by US authorities in cases related to offshore tax evasion by wealthy Americans using Swiss banks. They stand accused of having helped to hide at least $423 million (CHF429 million) in US taxpayer assets for nearly 200 clients between 2003 and 2009.
Switzerland ranks 18th in the latest edition of PricewaterhouseCoopers’ (PwC) Paying Taxes global study, which looks at how easy it is for a standardised, medium-sized domestic company to pay its taxes. A Swiss medium-sized company will pay 28,8% of its profits in taxes, substantially lower than the 40.3% average across the EU. The study ranks 190 countries according to the levels of bureaucracy involved in paying and filing taxes, but also the amount of tax levied on companies.
This Newsletter has reiterated that bonds are not an asset class that should be in one`s portfolio unless they are safe short-term high-yield corporate issues. The election victory of Donald Trump seems to have been the catalyst that set off a global rout for fixed-income securities. 10yr Treasuries yield increased from 1.88% on 8th November to 2.34% on 18th November 2016. Of course, if the yield increases, that means that the price on paper in the secondary market decreases.
Former British prime minister John Major believes there is a "credible case" for a second referendum on Brexit; he told guests at a private dinner in Westminster that departure from the EU must not be dictated by the "tyranny of the majority", The Times newspaper reported. "I hear the argument that the 48% of people who voted to stay should have no say in what happens. I find that very difficult to accept," as The Times newspaper reported.
The "made in Switzerland" brand is increasingly used. The new "Swissness" legislation, which comes into force in 2017, does not change the trend: 95% of industrial enterprises do not foresee any change in the value creation process, according to research of the University of Applied Sciences HTW Chur. The institute contacted 1000 companies active in the field of machinery and metallurgy, especially small and medium enterprises (SMEs), receiving 326 responses. The data analysis shows that despite the tightening of the rules, the use of the label "Swiss made" as a marketing tool will increase by 7% next year.
Consulting firm EY Switzerland (formerly Ernst & Young) will be the first professional services company to offer its clients the possibility of settling their invoices in Bitcoins. The option will be available from January 2017 onwards. The new Bitcoin ATM is part of an internal EY Switzerland digitalization program and is intended to make employees more familiar with the topics of blockchains and cryptocurrencies. “We don’t only want to talk about digitalization, but also actively drive this process together with our employees and our clients. It is important to us that everybody gets on board and prepares themselves for the revolution set to take place in the business world through blockchains, smart contracts and digital currencies. Blockchains are a very quickly developing technology that can permanently change many sectors.
Regulierung – seit der Finanzkrise prägt der Ruf nach mehr Kontrolle das Banking: Wegen regulator
Die Fonds-Konferenz der SKSF ist eine wichtige, branchenspezifische Plattform für Wissens- und Erfa
2 evenings to find out about the latest from the digital industry & 2 days to find ideas and to crea
ICDA will return this year to its alpine home for the 38th Bürgenstock Meeting.
The objective of the Conference is to bring together all the diverse stakeholdersinterested in a pol
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