News

04.08.2016

Swiss labour market: slow pace until autumn

The Swiss labor market is unlikely to improve in the coming months: it is the result of the use indicator calculated by the economic research center at ETH Zurich (KOF). In July it stood at -1.5 points, in progression compared to -2.6 points in the previous survey, dating back to April, but it remained negative.

 
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03.08.2016

Zenit watches: Geneva shop will be closed

The based-company Neuchâtel watchmaking Zenith , the historic luxury brand, aims to close three of its eleven stores worldwide, including the only one in Switzerland, in Geneva. The store will cease next week, indicated the manager confirming a report published today by Le Temps. The three employees affected by the closure of the Geneva shop have found a work place in the group, as reported. By 2017 two more closures will occur; at the time the company has not yet announced because its employees have not been informed. The restructuring will not touch any case Japan, Hong Kong and China.

 
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03.08.2016

Biogen: rumours about takeover from pharma giants

Biogen is in the sights of giants like Merck and Allergan. According to rumors reported by the Wall Street Journal, Merck and Allergan they would have raised the possibility of an acquisition of the US biotechnology group. Negotiations are at an early stage. If it happens, it'd be the biggest deal since 2008 when Roche acquired Genentech. Representatives from Merck and Biogen did not immediately respond to request for comment. Allergan declined to comment. 

 
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03.08.2016

Germany: black market labour "helps" or not welfare?

Undeclared work increases the Germany's welfare, as a group of economists interviewed by Bild said. The German tabloid has opened a debate on the economy submerged after a study by the Institut der deutschen Wirtschaft Iw of Cologne showed that 80% of domestic workers in Germany work in black. Despite the regularization process has increased in recent years, still one in ten is occupied irregularly.

 
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03.08.2016

PMI Service: Eurozone records better than expectations

Conflicting advice from Service PMI Index of the major Eurozone economies. In Italy, the indicator of the non-manufacturing recorded in July an increase to 52 points. The figure compares with 51.9 points the previous month and 51 points expected by analysts. As for Germany, the July PMI stood at 54.4 points against 54.6 points recorded in the estimate. Finally, at the Eurozone level, the PMI services amounted in July to 52.9 points against 52.7 points estimated. Recall that a PMI Services, below 50, reports a contraction of the economy and a higher level indicates growth.

 
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03.08.2016

Bitcoin exchange dropped after hackers theft

Hackers have compromised the Bitcoin exchange Bitfinex, the company announced today, withdrawing roughly $61 million from various consumer accounts. The causes are still unclear, but the attackers appear to have bypassed Bitfinex’s mandated limits on withdrawals. "The theft is being reported to — and we are co-operating with — law enforcement," the statement reads. "We ask for the community’s patience as we unravel the causes and consequences of this breach", the company  posted the note on their website detailing the security breach.

 
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02.08.2016

German state of Bavaria will sue Volkswagen for dieselgate

The Bavarian Government will cause to Volkswagen. The fall in the price of the automaker's shares in Wurzburg, it said in a statement, determined by dieselgate damages the Bavarian pension funds. Bavaria's state pension fund for civil servants lost as much as 700,000 euros ($ 783,580.00) after VW shares plunged in the wake of the Sept. 18 revelation by U.S. regulators of the carmaker's manipulation.

 
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02.08.2016

Turkey: President Erdogan heavily criticizes EU

Recep Tayyip Erdogan accused the European Union and its representative Federica Mogherini had spoken without knowing the reality, on the attempted coup in Turkey, committed, he said, by a "layered structure" comparable Italian Mafia or P2. "Mogherini would not have to talk," Erdogan said in an exclusive interview to the Italian TV RaiNews24. "It was instead to come to Turkey" as well as European leaders go in the places struck by terrorism. "It 's an ongoing coup that made 238 martyrs but no one came here," continued the president turkish. "If they had bombed the Italian parliament Mogherini would have said that was fine? To be concerned about the processes that would follow?", He asked, explaining that the introduction of capital punishment is desired "57% of Turkish citizens": "If the parliament will vote for the death penalty, then no one will say anything. "

 
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02.08.2016

England: home ownership at the lowest level in last 30 years

Housing crisis grows. According to data released by the Resolution Foundation think tank, there was a drop in the number of homeowners in England, recording the worst figure in the last thirty years. The percentage of households that own a home, including those with a mortgage, reached its peak in 2003, to 71%, to collapse this year at 64%, a figure not seen since 1986.

 
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02.08.2016

Japan: Abe's government approves new stimulus package

Abe's cabinet approved a new package of fiscal stimulus measures by 28 thousand billion yen, approximately 244.5 billion euro. The goals of the operation are the revival of GDP to 1.4%, new measures to protect children, financial subsidies to 22 million low-income people, loans 10,700 billion yen for investment in infrastructure and 7 billion and a half for the direct fiscal spending for the national and local governments.

 
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