News

26.10.2016

Swiss wages will pace along with inflation

Wages in Switzerland should stagnate in real terms in 2017, according to UBS economists who foresee an average salary increase of 0.6%, with inflation estimated at 0.4% for the same period of time. The effective increase will be only 0.2%, lower than this year.

 
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26.10.2016

Twitter axes jobs after losing buyers

Twitter may soon cut 8% of its workforce, or about 300 people, Bloomberg reported Monday citing people it said were familiar with the matter. A company spokeswoman declined to comment. Last year, Twitter announced, more or less, the same plan, or to axe 336 employees, about 8%, a week after Jack Dorsey, its co-founder who had been serving as interim chief executive, took over as permanent CEO.

 
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26.10.2016

Deutsche Bank would like to make a U turn on Postbank

Deutsche Bank may soon reintegrate Postbank, the Bonn-based institute bought in several steps from 2008 for a total of €6 billion and then placed on the market. This was revealed by the Sueddeutsche Zeitung, citing information gathered in financial circles. Sources said no serious buyers emerged after Deutsche Bank put the unit up for sale and that a potential listing of Postbank also would be difficult in the current market environment.

 
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26.10.2016

Swiss Post moves on the digital highway

The Post continues the reduction of their traditional offices: from the existing 1,400 today, it will come down to a number between 800 and 900 by 2020. In a statement today, the yellow giant announced that 1,200 employees "may be affected by a change". There were however no planned layoffs. Over the next four years, the company intends to continue the development of the network access points, taking them from the current 3,700 to at least 4,000. If possible, it will continue to focus on the format tested by years of agency or branch with partners.

 
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26.10.2016

Greece received €2.8 billion for Third Bailout programme

Euro zone officials on Tuesday said they had approved €2.8 billion for Greece from its huge third bailout after the country delivered the needed reforms.  After the latest disbursement approved by the European Stability Mechanism, Greece will have received €31.7 billion of the €86 billion bailout granted in July 2015, its third since being engulfed by debt in 2010. 

 
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26.10.2016

The Big Apple slows

Apple posted a quarterly revenue of $46.9 billion and quarterly net income of $9 billion. For the same quarter in 2015, these numbers were $51.5 billion and $11.1 billion, repectively. International sales accounted for 62% of the Q4’s revenue ended September 24, 2016. The quarterly results marked the third straight quarter where Apple posted a year-over-year revenue decline.

 
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25.10.2016

Novartis slides in Q3, hoping in blockbuster

Novartis saw net profit slip in the third quarter as the loss of a key drug to generic use in the United States outweighed strong sales of its psoriasis drug Cosentyx and MS treatment Gilenya. Swiss drug company reported third-quarter net income from continuing operations of $1.9 billion, an increase of 7% year-over-year, up more than operating income mainly due to higher income from associated companies.

 
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25.10.2016

US consumer confidence dropped after five months growth

U.S. consumer confidence fell back more than expected in October, dampening optimism over the health the U.S. economy, industry data showed on Tuesday. The index had been on a big run-up for the past 5 months.  In a report, the Conference Board, a market research group, said its index of consumer confidence fell to 98.6 this month from a reading of 103.5 in September, whose figure was revised from a previously reported 104.1. Analysts had expected the index to drop to 101.0 in September.

 
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25.10.2016

Italy warns: we don't wait for Switzerland

Italy will also get information on bank accounts abroad next year, thanks to agreements with Switzerland and Liechtenstein. The deal allows to the Italian tax authorities not to wait that taxpayers, with cash and assets deposited abroad, regularize their position. In order to hunt down the cash, the tax agency is preparing collective data requests. It means that the Italian authorities will ask and get the data of the Italian customers who have opened a foreign bank account. As pointed out by the Italian newspaper Il Sole 24 Ore, authorities "won’t stop to Switzerland only, due to the fact that the agreements signed in 2015 will offer new opportunities." 

 
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25.10.2016

China's HNA Group takes 25% stake in Hilton

HNA Group, the giant Chinese hotel and tourism company, agreed to buy about 25% of Hilton Worldwide Holdings Inc from Blackstone Group LP for about US$6.5 billion. HNA, controlled by Chen Feng, will pay US$26.25 a share in cash, or 15 per cent more than Hilton's closing price on Friday. Under the deal, HNA cannot reduce its 25% stake over the next two years or increase it without Hilton's permission. The deal, which is expected to go through in early 2017, will cut Blackstone's share in Hilton to 21%. This latest move by HNA is part of the group's efforts to become a "global tourism business," said the company's chief executive Adam Tan. HNA announced in April that it had agreed to acquire Carlson Hotels, which owns the Radisson and Park Plaza brands.

 
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Events


Semptember 2015
  • 19
    Oct

    MGF Fall Edition is Presenting twelve High Growth companies both public and private i

  • 19
    Oct

    "Investire nel mattone" è probabilmente una delle scelte meno rischiose. La casa è un bene rifugio

  • 24
    Oct

    Two years after two historic global agreements were established, leaders and other change agents in

  • 25
    Oct

    Im September haben die Schweizer Stimmbürger die „Altersreform 2020“ des Bundesrates abgelehnt.

  • 30
    Oct

    The 2017 symposium, with the theme "Successfully crossing borders", will have a strong focus on the

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