The clothing group Vaudois Switcher, with stores also in Ticino, has failed, weighed down by three exercises in consecutive deficits and from 9 million losses in the first months of 2016, The district court ruled on Thursday in Lausanne. According to the court "it is hard to deny the state of indebtedness of the company. There is largely in a state of insolvency". Now the company will have 10 days to appeal.
New applications for unemployment benefit fell in the United States, confirming the improvement in the labor market stars and stripes thanks to the acceleration of economic growth. In the week to May 21, the "claims" have fallen by 10,000 units to 268,000, while analysts' estimates were for a decrease of up to 275 thousand units. Now te records is 63 weeks of consecutive requests to below 300,000, the longest streak since 1973.
The emergency fuel continues to rise in France, while approaching the meeting with the European Football Championship, which will put the transalpine country in the spotlight for a month. Thirty per cent of the country's distributors have remained dry and the protest against the labor market reform continues unabated while for the first time Prime Minister Valls has indicated its openness to change the text.
Twelve associations, representing the most influential global steel producers, have appealed to the G7 leaders to take appropriate measures to support the sector, which is suffering very negatively of "distorting practices" of some governments, which no regard for the situation of the market, continue to promote the production, indifferent to global overcapacity.
The G7, which began this morning in Japan, saw emphasized by leaders committed fears about the emerging economies, while Japanese Prime Minister Shinzo Abe has made noise with the statement in which he likened the current situation to the financial crisis triggered by the Lehman bankruptcy in 2008. "The G7 leaders share the idea that emerging economies are facing a difficult situation even though there are those who say that the current framework can not define 'crisis'," said the deputy head of the Cabinet Secretariat, Hiroshige Seko , speaking to reporters at the beginning of the two-day G7 in Ise-Shima.
The Federal Council approved today the program of stabilization of the federal budget for the 2017-2019 period provides for lower outputs of between 800 million and one billion francs a year. The plan was necessary because of the "holes" in the state budget caused by the strong appreciation of the franc following the abandonment of the minimum change threshold with the euro by the Swiss National Bank.
Brussels has given its consent to the merger of the two giants of the beer, Anheuser-Busch InBev and SABMiller. The European Commission has removed any regulatory obstacle to the agreement between the two largest brewers in the world. The agreement is subject to the sale of the entire beer industry Sab in Europe. According to the Competition Commissioner Margrethe Vestager, this decision "will ensure that competition is not weakened in these markets and that consumers will not have the worst." For the Commission, Europeans buy beer for about € 125 billion each year. The sale is intended to alleviate the concerns that SABMiller, which produces Budweiser, would have had a slump in the European market.
BSI can now continue to work in Singapore, despite the announcement yesterday by the local authorities of serious violations of anti-money laundering rules. The decision of the Monetary Authority of Singapore (MAS) to prevent the Ticino bank to operate in the country will come into force at a later date. "In this way we want to allow to transfer the assets of BSI to EFG International", BSI indicates in a statement today. Furthermore the Ticino institution explained that the bank is not affected by insolvencies and is in a good liquidity situation. The bank also will not suffer negative consequences from the penalties imposed by Mas and FINMA. Both fines will be paid out of the general reserve for banking risks.
Brent is back, for the first time since November 2015, above the threshold of $ 50 a barrel touching share $ 50.1 (+39 cents). Also up WTI Texas (+37 cents to $ 49.93). To push the price of oil is the drop in producer stocks in the United States and the difficulties in Canada because of the big fires and in Venezuela because of the serious crisis that is affecting the economic model of the country. Since January, when it touched the lowest level in 12 years, the price has almost doubled.
The gross domestic product (GDP) of Switzerland is expected to grow by 1.1% in 2016 and 1.2% in 2017, according to the institute's estimates Lausanne Créa, which provides a + 2.1% in 2018. The forecasts have been revised downwards: last November, the prediction indicated a progression of 1.2% for this year and 1.8% next year and Frame rate of the institute review the causes go sought globally. On the international market, the average growth since 2000 has been clearly below average, indicating Créa. The negative trend of 2015 was prolonged in the first quarter of this year, when the world's exports decreased by approximately 8%. The price of raw materials plummeted in recent months, he has exacerbated the problem.
Only a little more than half a year is remaining until implementation of PRIIPs and MiFID II, and th
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