News

13.06.2016

ECB: drop in oil prices is a sign of economic slowdown

The drop in oil prices is a slowdown in global economic signal. This was stated by the European Central Bank (ECB) in anticipation of the Economic Bulletin, explaining that "while in 2014 most of the drop in oil prices could be explained by the significant increase in the supply of crude oil, the lowest price of the most recently is the reflection of the decline in global demand ". The ECB warns that "even if the low price of oil may support domestic demand due to rising real incomes in the importing countries, this may not necessarily offset the wider effects of the weakening of global demand."

 
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13.06.2016

China stops: production stalled, sales down

China continues to show signs of weakness, triggering panic in financial markets frightened by the possibility that the slowdown in emerging economies could infect the other major industrialized economies. The latest data on industrial production in fact show an increase of 6% in May on an annual basis, exactly as in the previous month, showing no acceleration in the pace of growth, respecting the expectations of analysts. On-month the figure has gone up by 0.45% from 0.47% in April.

 
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13.06.2016

Axpo: first half down sharply

Axpo, the Aargau power company, recorded a sharp drop in profits for the first half year 2015/2016, which ended in March, net profit amounted to 350 million francs, a -18%. Revenue fell by almost 5% to 3.04 billion. The statement today indicates that the company has continued to suffer the repercussions of low energy prices in the wholesale.

 
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13.06.2016

Latest survey Brexit sees winning Leave: 10 points more

The day of the referendum for the Brexit is running and the latest survey, conducted by the Institute for Independent Orb, sees the Eurosceptics ahead by 10 percentage points: 55% of British voters believe that Britain should leave the EU compared to 45% who want to remain. It is one of the widest margins of advantage for the campaign Leave newly registered.

 
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10.06.2016

Oman Government Sells $2.5 Billion of Global Bonds

Oman has raised funds on international markets to stem the financial crisis caused by the collapse in oil prices. Thus, the government of the Arab country has placed 2.5 billion usd bonds, becoming the last country of the Gulf, in order of time, to rely on debt to support its budget market. The sale is the first Omani issue on international markets for almost two decades. The government placed  five-year notes at a coupon rate of 3.625%, and a 10-year at 4.75%. The yields of both bonds were lower than the initial guidance, reflecting a strong demand from local and international buyers. The total demand received from the Government should have been around 7 billion USD, reported the source.

 
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10.06.2016

Central Bank of Russia sees positive: down rates

The Central Bank of Russia has cut interest rates citing more positive inflation trends and stable. The high inflation fears and still potentially rising reduces, the institute led by Governor Elvira Nabiullina has lowered the cost of money by 50 basis points, now fixed at 10.5% from 11% previously. The last time the Bank of Russia has cut interest rates dates back to August 3, 2015, from 11.5% to 11%. "The easing of inflationary pressures allows us to hope for a sustainable reduction in the index of prices to below 5% in May 2017, to 4% target towards the end of next year," said the institute in a statement . The next meeting is expected on July 29.

 
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10.06.2016

Sky - Bundesliga: marriage worth the "double"

While in France the European championships are going to start, Germany has closed the sale for the renewal of TV rights for football. From German auction two important considerations emerge: the telephone operators did not enter in the race and the price increased in proportion to the growth of exclusive offers. Sky was awarded for another four seasons Bundesliga's domestic television rights with an average annual outlay of 876 million euro, almost double the 486 million last contract. The new agreement is for "only" 572 matches per season for four championships from 2017-18 on all platforms, accounting for 93% of total meetings.

 
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10.06.2016

UBS: US brokerage unit under renovation

The Swiss bank UBS restructures its investment management activities in the US. The number of its consultants is expected to decrease by 10%, but the rewards will be higher, to try to tie them to long-term bank. In the division, led from the start of the year by 'ex- CFO Tom Naratil UBS, the Swiss institute currently employs 7.145 consultants. In the future there will be between 6,500 and 7.000, a spokesman for the bank has said to Reuters.

 
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10.06.2016

New rules to boost card payment transparency in Europe

The new rules regarding the costs arising from the use of waxed credit, issued by the European Commission, took effect from yesterday. In this way the costs of payments by debit and credit cards will be more transparent to merchants and consumers, and will allow to make their own choices about the type of payment. In addition, the European Union imposed a cap on so-called interchange fees that may not exceed 0,2% of the transaction value for debit cards and 0.3% for those credit.

 
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10.06.2016

PSA: Peugeot family ready to increase its participation

Several members of the Peugeot family say they are ready to invest in the PSA Peugeot Citroen automaker to significantly back in the capital. This was reported by the French newspaper Les Echos, citing some of the family members and the former chairman of the supervisory board, Thierry Peugeot. "Many of us are on the same wavelength" Thierry Peugeot told French daily. The family is made up of a hundred members, and in past years it was divided on the choices regarding the automaker. The Peugeot group had near bankruptcy in 2013 and was saved with the entry into the capital of the French State and the Chinese company Dongfeng Motor. Both have become major shareholders, with a stake of about 14% each.

 
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