The US Department of Labor reported that in August, 151.000 new jobs were created. The unemployment rate was unchanged at 4.9%. The labor force participation rate also remained steady at 62.8%. The number of new jobs created disappoint the expectations of analysts, who had forecast more than 180,000 new jobs. Furthermore the strong decrease compared to July, when they were created 275.000 new jobs (revised upward from 255,000 initially announced).
Surrounded by distrust on its actual ability to adopt the economic reforms needed to revive the country, Michel Temer started on 1 September his tenure as president of Brazil. The new head of state has the obligation to take measures to love to avoid the collapse of the public finances, necessary care, already announced in his first speech after the inauguration, broadcast to unified networks and which caused riots in the streets. As for the economic aspect, the impeachment of former President Dilma Rousseff, voted by the Federal Senate in Brasilia with a result of 61 in favor and 20 against, will lead to a change of gear in Temer government which could shoulder the burden of the high expectations of the market. In recent months, the stock market was soaring, with the central banks to inject liquidity into the global economy and investors hunting for higher returns.
Fundraising is doing well for Hillary Clinton: the Democratic candidate for the White House has raised $ 143 million in August, more than 50% compared to July, and to what, four years ago, Barack Obama had collected. The average size of donations were $ 50 each (less than 56 supporters of his rival, Donald Trump). Robby Mook said he was very pleased with the amount raised in August. The exponent of the campaign manager of the Donkey Party said about it: "thanks to the 2.3 million people who have donated, we are approaching the race for the White House to the last two months with sufficient resources to organize and mobilize millions of voters across the nation. "
September will mean mergers in banking sector? It seems the trend that appears in the market, also listening to the words of the number one Deutsche Bank, John Cryan, who, denying that Deutsche Bank is considering a merger with compatriot Commerzbank, said that "In Europe, serving more mergers in the banking sector », during a conference in Frankfurt. The difficult situation of the European banks is plain for all to see. "Today in Europe the banks are less risky than before the financial crisis," said Cryan, "but also much less profitable."
The global economic recovery is losing momentum and should be supported: it is the message that Christine Lagarde, Managing Director of the International Monetary Fund launched the leaders of the G20 countries and the whole world, on the eve of the summit of Hangzhou, China, on 4 and 5 September. Support for demand, structural reforms, revival of trade, are the strong actions indicated by Lagarde. "The pendulum of politics is likely to move against economic openness and without strong action the world could experience a disappointing growth for a long time," she said, calling to boost trade and to send positive messages on globalization, which in many benefited. "It 's easy to blame trade for all the ills of a country: block free trade would result in stopping an engine that brings benefits in the world for decades".
The European Commission says "yes" to the merger between Wind, Italian subsidiary of the Russian group Vimpelcom, and 3Italia, which belongs to the group of Hong Kong Hutchison. The approval, it said in a Brussels statement, shall be subject to sale of assets sufficiently to allow the entry of a new operator market. The agreement, in fact, opens the Italian market to the new French mobile operator Iliad. The parties (Three and Wind), have proposed to the committee a number of corrective measures that have finally brought the European antitrust give its approval: the sale to the new operator of a quantity of the mobile spectrum currently managed by the joint venture, sharing thousands of sites for the installation of mobile base stations (antennas) and a transient agreement that will allow Iliad to use the network of the joint venture until it has successfully opened its own.
The possibility that the Spanish come back for the third time at the polls, now, is a more realistic scenario. Mariano Rajoy, on Wednesday, has received the rejection of the Parliament with 180 "no". The Spain's acting Prime Minister will try again in the second vote tomorrow, even if it becomes more and more concrete prospect of returning again to the polls later this year. About the situation, the Minister of Finance Luis de Guindos warned that the Iberian economy will continue to proceed "at a slow pace" if it does not exit from the political stalemate that the country is experiencing, for several months.
Apple returns to the attack of the European Commission, after Tuesday's fine that requires the company to Cupertino payment of 13 billion euro to move back taxes in Ireland. "The European legislation on taxes is maddening," said the number one Tim Cook group then called "exasperating" the EU Commission approach to State aid. Yesterday, the US Treasury Secretary, Jack Lew, had spoken of fury on the part of Brussels against American companies. However, Cook remains "very confident" about the outcome of the appeal against the EU decision: "I am convinced that the verdict will be overturned," he told Irish radio Rte.
In August, the growth of the Eurozone manufacturing sector has lost momentum and the rates of expansion slowed for production, new orders and exports, causing a weakening of the creation of jobs. The final reading of the Eurozone manufacturing index confirms a new phase of economic stagnation. In August, the indicator Markit PMI stood at 51.7 points, the lowest level in three months. The final reading is also found to be lower than the earlier flash estimate of 51.8. Germany (53.6 flash estimate confirms) and the Netherlands (53.5 maximum of 5 months) reported strong expansions. The growth was relatively weak in Austria (52.1 minimum of 3 months), Spain (subject to 51) and Greece (50.4 maximum of two months). In France (from 48.3 flash estimate 48.5) and Italy (49.8) contractions were observed.
he greek bond market remains the most lucrative on the European scene. Athens has in fact placed 1.14 billion of six-month bonds offering a yield of 2.97%, unchanged from the previous auction. The demand from institutional investors was stable with a coverage ratio of 1.30. Yields also remain stable with decades of greek bonds offering a yield of 8.10% to the 70.30 price. As for bonds maturing in 2019 and 4.75% coupon, the rate stood at 8.60 compared with a price in area 91. The stabilization of prices is determined by the GDP, no longer in free fall, but in the process of settling.
Only a little more than half a year is remaining until implementation of PRIIPs and MiFID II, and th
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