Swiss economy can look at the future in a positive way. The Swiss KOF business sentiment index increased slightly to 102.7 for July from a revised 102.6 in June from the original 102.4 and was significantly above the consensus forecast of 101.6. The National Bank will be relived that competitiveness concerns have eased slightly with no additional pressure for measures to weaken the currency.
The Swiss National Bank (SNB) posted a profit of 21.3 billion francs in the first half of 2016. In the same period last year, the central bank had suffered a loss of 50.1 billion, due to the strong franc . The gold reserves have generated an increase of 7.6 billion francs, now it indicates the monetary issuing bank in a statement. In late June, the price of the precious metal stood at 41'408 francs per kilogram, compared to 34'103 francs in the same period of 2015.
Microsoft has announced plans to lay off 2,850 employees in the next 12 months. In particular, the company highlighted that in addition to the reduction of 1,850 jobs announced in May, will cut 2,850 more workers by the end of fiscal 2017.
In the second quarter, UBS realized a net profit of 1.03 billion Swiss francs, a decrease of 14% over one year. The result is, however, a rise of 46% compared to the first quarter of 2016. Profit before tax fell by 15% to 1.49 billion francs a year, but it increased by 52% over the first quarter, he has now shown the first Swiss bank in a statement. Operating revenues decreased by 5% to 7.4 billion over the year.
China undermines the US from the top step of the podium of the largest banks in the world. According to the annual survey of R & S Mediobanca on international banks, in 2015 the largest commercial bank by assets was the Industrial and Commercial Bank of China (ICBC), with 3.146 billion euro, exceeding the US Jpm Chase (2.989 bn). In third place, unchanged, BofA to 2.557 billion.
The markets have been all over the place since the Brexit vote. However, this rases opportunities on the currency market, even in a context of high volatility. We could observe a US dollar acting as a safe haven in the wake of the vote, and still resilient during the rising markets that followed.
Facebook closed the second quarter of 2016 with profits almost tripled from a year before surpassing estimates, thanks to advertising revenue, the market expected strong decline. The title, in the after market, has gained more than 6%, exceeding for the first time the $ 130 per share. Moreover, the number of users continues to rise. About 1.71 billion people have used at least once a month, + 15% per year while in the first quarter were 1.65 billion. Those who have used each month the largest social network in the world through a mobile device were 1.57 billion (+ 20%) against 1.52 billion in the January-March period.
Credit Suisse posted a net profit of 170 million SFr, compared to 1.05 Billion in the same quarter last year. Nevertheless, it is better than the analyst consensus who expected a deepening of the yearly losses. The good: Costs were 8% below consensus. One of Thiam’s priority is to make the bank run more efficiently, and this is the first time we witness that his strategy is finally bearing fruit. The company is on track to meet its cost cutting target for the year of 1.7 billion francs. Wealth management, the other priority, also managed to continue attracting funds with Net New Assets up 5.4 Billion francs, despite the geo-political challenges in Europe. This is clearly helped by Credit Suisse’s global footprint.
Lloyds Banking Group has announced that it will accelerate cost-cutting plan to cope with the uncertain economic climate and a probable beaten in loan demand as a result of the British decision to leave the EU. The english bank is ready to axe 3,000 jobs and close 200 branches, for a plan focus saving 400 million pounds within 2017. Lloyds chief exectuvie Antonio Horto-Osorio said: ““Following the EU referendum the outlook for the UK economy is uncertain and, while the precise impact is dependent upon a number of factors including EU negotiations and political and economic events, a deceleration of growth seems likely.
Credit Suisse has achieved in the second quarter net profit of 170 million francs, after 302 million loss incurred in the first three months of the year. The institute, as the CEO Tidjane Thiam announced, has been able to "improve their performance and to operate profitably in a volatile environment." The result is higher than analysts' expectations.
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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