News

24.03.2017

Technical analysis : Gold fluctuates nearly 1,245 mark

The yellow metal traders are expecting the fundamentally important vote on US healthcare, which will reveal, whether Donald Trump can get legislation passed. Due to that reason the bullion bounced around the 1,245 mark on Friday morning. From a technical perspective the commodity price is squeezed in between the weekly R1 at 1,242.38 and the 50.00% Fibonacci retracement level at 1,248.96, which is enforced by the long term downward trend line at 1,250.12. Due to this trend line it can be assumed that the legislative bill will not be passed. However, it might as well be easily broken, and market participants should stay vigilant.

 
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24.03.2017

Hungary wants to ban Heineken's Red Star

The Hungarian government is allegedly backing out of a draft bill that would ban the use of what it calls “totalitarian symbols” for commercial purposes. It will go to extreme lengths to achieve its goal, which may have consequences for Heineken, because the brand’s iconic red star is a target. Under the bill symbols such as the swastika, the arrow cross, the sickle and hammer and the red star would be banned for commercial use 30 days after it is approved by Parliament. Violating the ban after January 1, 2018 would constitute a criminal offence. Anyone in breach of the proposed law could face a fine of 2bn forint (€6.5m) and two years’ jail.

 
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24.03.2017

Credit Suisse increases bonus anti-escape

Credit Suisse increased its bonus pool by 6%, defying a trend toward smaller payouts at many of its peers in an effort to prevent an exodus of talent from its investment banking and Asian operations. That followed a second straight year in the red for the bank amid a major restructuring and steep penalties for the sale of toxic mortgage debt in the run-up to the financial crisis. CEO Tidjane Thiam's pay for his first full year in the job swelled to 11.9 million Swiss francs ($12 million), the 2016 annual report of Switzerland's second-biggest bank showed on Friday. This compared with the 4.57 million francs he earned in 2015 after joining the bank on June 22.

 
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23.03.2017

UBS to introduce charges for accounts over €1 mln

UBS, the world’s biggest wealth manager, will impose a penalty charge on customers who park euros with the bank, a reaction to the negative interest rate environment in the euro zone. The Swiss bank, the world’s largest wealth manager, will introduce from May an annual fee of 0.6% on accounts with more than €1 million ($1.1 mln). The charge will apply to total amounts held by individual customers and be calculated on a daily basis. It comes in response to the ultra-low or negative European Central Bank rates, in the wake of the financial crisis, which have eaten into banks’ margins. UBS currently imposes an individual deposit charge for large account balances held in Swiss francs by corporate, institutional and certain very wealthy clients, as it deals with negative interest rates charged by the Swiss National Bank. 

 
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23.03.2017

SNB bought 67.1 billion francs in foreign currencies

Switzerland's central bank bought another 67.1 billion Swiss francs ($67.6 billion) worth of foreign currencies in 2016, almost a quarter less than the previous year, in its effort to fight the appreciation of the safe-haven franc. The sum, published in the central bank’s annual report on Thursday, compares with a 2015 tally of 86.1 billion francs and a record of 188 billion spent in 2012. "These interventions occurred mainly at times of heightened uncertainty, when the Swiss franc was particularly sought after as a safe investment," the Swiss National Bank said in its annual report published on Thursday. 

 
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23.03.2017

Stocks or Bonds? (by W. Snyder)

In the good old days investors could keep their portfolios balanced with 60% in bonds and 40% in stocks

 
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23.03.2017

Best sustainable energy comes from Switzerland

When it comes to achieving affordable, environmentally sustainable and secure energy systems, a group of small economies is quickly accelerating away from the rest of the world. The top 20 performers in the fifth annual Global Energy Architecture Performance Index Report 2017 have achieved twice the average increase in their score compared to that of all other countries. The report, developed in collaboration with Accenture Strategy and launched on Wednesday at the European Commission, ranks 127 countries based on their ability to provide energy across three dimensions of the “energy triangle”. It finds that the highest performers, which are primarily smaller countries and advanced economies, can overcome constraints if supporting policies are in place.

 
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23.03.2017

European patents on beer? No, thanks

Last week a team of civil society organisations, included swiss Pro Specie Rara, Swissaid and Public Eye,  started a public appeal to politicians and demand that effective prohibitions are put in place to stop the granting of patents on plants and animals derived from conventional breeding. The protest is targeted at patents granted by the European Patent Office (EPO) in 2016 to the brewing companies Carlsberg and Heineken. The patents claim barley derived from conventional breeding, its usage in brewing beer and the beer produced thereof. However, the patents are simply based on random mutations in the plant's genome. 

 
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23.03.2017

Hard Brexit may drive up costs for UK automakers

The cost of making a car in the UK could increase by £2,370 ($2,930) in the event of a hard Brexit, according to research published by PA Consulting Group. The tariffs would apply to both imported and exported cars with the report stating carmakers would be likely to pass any price increases to buyers.  The report explained that the increased cost of manufacturing could be the case if the UK falls back on World Trade Organisation (WTO) rules post Brexit. It warned that the 10% WTO tariffs on exporting and importing with the European Union (EU), could force some manufacturers in the UK to relocate outside the country.

 
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22.03.2017

How Small and Large Renewable Energy Projects are Funded in Argentina

An analysis of the fastest growing sectors of renewable energy, finance sources in this sector and live examples of the Argentina’s companies operating in the renewable energy sector.

 
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