Toyota bought a stake in the capital of Uber, the world leader in the sector. The transaction value was not disclosed, but the agreement provides an important trade chapter: Toyota will ensure the leasing of vehicles to drivers which in turn will repay with shares of their tariffs. The move of the Japanese manufacturer is the answer to the initiatives that competitors have implemented in recent weeks: the GM found for $ 500 million participation in Lyft, while Volkswagen has entered the Israeli Gett putting on the plate 300 million. The more substantial the wildcard has nonetheless played the Apple, ready to bet a billion of Didi-Chuxing, the Chinese Uber growing very fast. In the opinion of analysts, Uber is the right partner to Toyota with its smaller models can easily deal with the traffic of the most congested urban areas where the US company is the undisputed leader.
OUR MACROECONOMIC ANALYSIS The three largest developed economy Central Banks met again in April. The Bank of Japan took the markets by surprise in ultimately declining to take new easing measures. This could very well be a sign that Central Banks believe they are now out of ammunition. Governments must now seriously pick up the pace of structural reforms to make long-term growth last. It happens that growth generally fell short of expectations in the first quarter, except in Europe and China. The current slowdown includes a strong structural component (i.e., demographic changes and a marked slowdown in productivity gains). The consensus nonetheless forecasts a macroeconomic upturn in the second half, which will be welcome in the current environment. This rebound has already been abundantly priced in to commodities.
White smoke for aid to Greece after a long negotiation that lasted 11 hours: Prime Minister Alexis Tsipras has got not only aid but also the green light to debt restructuring. The International Monetary Fund (IMF), to break the deadlock, has explicitly demanded to the Eurogroup a serious and concrete commitment on debt relief before getting involved in the third assistance program. The Eurogroup has put pen to paper this commitment while the IMF, later this year, will ask its board to contribute to the plan.
BSI, the oldest bank in the canton of Ticino, is under fire for involvement in the scandal of the Malaysian fund 1Malaysia Development Bhd. The private bank in Lugano risks heavy penalties. First, the central bank of Singapore has ordered BSI to stop all the activities of the local subsidiary BSI Bank Ltd. The fund 1Malaysia Development Bhd, established in 2009 by Prime Minister of Malaysia, Najib Razak, is accused of having embezzled more than 650 million dollars of capital of public companies to divert them to offshore accounts payable at the same premier.
Good news from the US housing market. Sales of new homes for the month of April totaled 619,000 share units against 511,000 units in the previous survey and the 521,000 units expected by analysts. Staying on the subject of macro data, the Richmond Fed index, indicator of the manufacturing sector prepared by the Federal Reserve Bank of Richmond, has declined from 14 to -1 points. The analysts pointed to a drop much lower at 9 points.
New worsening signals from the German economy, after the climb recorded in April The ZEW index, a leading indicator of economic sentiment in the coming months, collapsed to 6.4 points from 11.2 points in April, when he was in recovery. "The strong growth of the German economy in the first quarter of 2016 seems to have surprised financial market experts. However, investors do not seem to expect that the economic situation will improve at the same pace," said Professor Achim Wambach, President ZEW Institute who added: "the uncertainty about a possible Brexit by the United Kingdom as we approach the referendum that could lead to the exit of Britain by the European Union, preventing a more optimistic view."
Japan's exports dropped in April at the quickest pace in three months as a stronger Yen and weakness in China and other emerging markets take their toll on the country's shipments, denting growth prospects for the current quarter. Overseas shipments plunged 10.1% in April from a year earlier, the Ministry of Finance said, while economists had predicted a 10.0% annual decline and following a 6.8% decrease in March. It was the seventh straight month of declines and the biggest since 12.9% in January, when Japanese shipments to Asia slowed sharply ahead of the Lunar New Year holidays. The drop was likely exaggerated by a fall in US-bound car exports due to supply-chain disruptions caused by last month's earthquakes in southern Japan, but a surging Yen and tepid global demand are clouding the outlook for the year.
Fear for Brexit widens the employment world. After the spectrum to the recession of the past few days, the Chancellor of the Exchequer, George Osborne, has been focusing on the world of work: in fact, according to the report issued by its Ministry of the Treasury, the exit of Britain from the EU could cost 820 thousand jobs in two years, following the sharp slowdown of the economy.
Tribune is still responding negatively to Gannett, which in late April had launched a bid on the company that publishes the newspapers "Los Angeles Times" and "Chicago Tribune". Tribune Publishing has indeed returned to the second improved offer, which provided for a price per share of $ 15 compared to 12.25 initially proposed. According to Justin Dearborn, CEO of Tribune, the offer "is clearly inadequate" and not competitive with its recovery plan, which is now supported by a new investor: Always Tribune today said that the Nant Capital of billionaire Patrick Soon -Shiong has invested over 70 million dollars in the publishing group, the issuance of 4.7 million new shares at a price of $ 15 (the same supply of Gannett).
The agency Standard & Poor's confirmed the triple "A" for the debt of Switzerland. In a note, they are praised the capabilities of the Swiss economy, called "competitive and diversified". Confidence by the American Society of rating, is also expressed with regard to the Swiss National Bank, after about a year and a half after the decision to abolish the minimum exchange rate between euro and franc.
Only a little more than half a year is remaining until implementation of PRIIPs and MiFID II, and th
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