According to the European Statistical Office, Eurostat, the third and final estimate of GDP for the 1st quarter indicates an increase of 0.6% on the quarter and 1.7% on year. These forecasts exceed those announced last month respectively 0.5% and 1.5%. In the fourth quarter of the year there has been a growth of 0.3% qoq and 1.6% yearly. The entire European Union (EU) economy recorded an increase of 0.5% as compared to the cyclical same quarter last year, there was an increase of 1.8%.
"The monthly data on the labor market is an important indicator. We will continue to follow the trend of the labor market carefully," Yellen said, stressing that the current level of monetary policy is "appropriate to support the economy and encourage further improvements in the labor market, which will help inflation return to the 2% ". "I still believe that rates will rise gradually over time to ensure price stability and maximum sustainable employment in the long term", Yellen highlights . "I believe that the positive forces that sustain employment growth and inflation will continue to weigh more than the negative ones. I expect the continuous economic expansion, with the labor market still improve and that GDP will grow."
The US giant telecom Verizon Communications would plan to submit a bid in the second round of 3 billion US dollars for the core business of the Internet Yahoo, according to the Wall Street Journal reported, citing a person familiar with the matter. According to the newspaper of the Big Apple, Verizon would have to meet the Monday deadline for the second round of bids.
Among the solutions, economiesuisse says including process optimization, review of purchase channels, the increased investment, the temporary increase in working hours, hiring freezes and also downsizing and relocations abroad. Taking advantage of the slight weakening of the franc, the worst scenarios wasn't realized. The cautious evolution of the global economy prevents a more sustained recovery, but the current trend has the merit of bringing stability. Therefore, economiesuisse expects an improvement in consumer sentiment over the year. After a smooth start, the economy looks up and growth of new approaches of the rates recorded in Germany.
Switzerland and India could resume discussions on a free trade agreement at the end of the week. Swiss President Johann Schneider-Ammmann has discussed with the Indian Prime Minister Narendra Modi in Geneva today. "We have established a very good basis" of discussion for the next days and the next few months, Schneider-Ammann said in a meeting with Nerandra Ways and twenty representatives of the Swiss economy. Previously the Swiss minister of the economy had entertained for over an hour with the head of the Indian government. The talks were energy and financial issues.
The United States throw accusations at China on the issue of unfair competition and dumping in the steel sector, plagued by excess capacity globally but especially right in the Asian giant. "In line with the reforms of China, the United States supports efforts to reduce excess capacity and leave it to market forces to determine investment", the State Treasury Secretary Jack Lew said, pointing the finger at " the "Chinese excesses" that distort global markets. "
The British authorities are investigating against Credit Suisse and the Russian group VTB in the granting of loans for several hundred million dollars to companies with ties in Mozambique, which would be served in particular to the acquisition of war material. This was reported by "Wall Street Journal", which adds that transactions comprise receivables of $ 622 million (613 million francs) for combat equipment, 535 million for the construction of ships and 850 million for the fishing fleet.
Change of sentiment in the English people. A little over two weeks since the referendum on Brexit of June 23rd, the polls show a turn in the acclaim and now signal a trend victory of the supporters of the "Leave", who wants a divorce between London and Brussels. According to the latest survey by YouGov for ITV, they lead the game with 45%, ahead of 41% of "Remain". A few days ago it had been another survey, this time published by the liberal daily The Guardian, to have created confusion among analysts and investors themselves, finding the first favorable outcome for Brexit in a telephone survey.
Saudi Arabia has announced to European customers a discount on crude oil by strengthening the signal of growing competition between the two producers of the OPEC cartel, Saudi Arabia and Iran. The price cut comes after the new bankruptcy during the meeting in Vienna despite the efforts of the Arab country to converge towards a membership freeze of the production ceiling. The Vienna Summit would have to approve a bid rationing of the cartel, but are still conflicting views. In particular, Iran remains opposed, and has recently restored its production, after the long stall caused by contention on nuclear power.
The proposal was rejected by an overwhelming majority, with a percentage of 78%. So the Swiss have expressed a clear denial, as had clearly foreseen by the polls. Even the government was opposed to the excessive spending that would entail. The proposal for a "citizen's income" equal for all was launched by Daniel Haeni, owner of Coffee Basel, and a group of his allies who call themselves independent, but showed from the outset to have little chance of being approved despite the interest he had aroused in public opinion Swiss. In addition, for approval it would be needed a double majority, that of the "cantons" and that of voting.
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