News

08.09.2016

ECB leaves interest rates unchanged

The ECB's board has confirmed the interest rates at 0%. Also unchanged rates on the marginal lending facility and the deposit facility, respectively, still 0.25% and -0.40%. The plan of purchases "Quantitative easing" has been extended until March 2017 "and beyond if necessary." The institute claimed to maintain asset purchases  of €80 billion Euro per month.

 
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08.09.2016

Ecclestone sells F1 to US company Liberty Media

US media company Liberty Media acquires Formula 1: the deal, which evaluates the sport $ 8 billion, starting with the acquisition of a 18.7% stake for $ 4.4 billion. Bernie Ecclestone remains CEO, while Chase Carey was named president. The full acquisition will take place when the agreement will be permanently closed, expected in the first quarter of 2017. In detail, Liberty Media - reports the CNBC - would pay $ 1.1 billion in cash, $ 131 million in the communication group actions and 351 million in the form of debt issued by the same Formula One.

 
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08.09.2016

China imports rise for the first time in 2 years

China's economy is confident, but has not yet started to run: exports still falls in August, but at a lower rate than previously recorded while imports create the first recovery of two years now. According to the numbers released by the General Administration of Customs in Beijing on Thursday, exports in August fell by 2.8% over the previous year, slowing the fall compared to -4.4% in July. The data also reveals higher than economists' expectations, which indicated a contraction of 4%.

 
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08.09.2016

Zurich Insurance Group: The turnaround is underway

The shares of Europe’s third largest insurer dropped by more than 40% in the space of a year from March 2015 to March 2016. The return of Mario Greco to the position of CEO in early March seems to have marked a significant turning point.

 
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07.09.2016

London is the world's best city for business

London is confirmed in first place for the second time in a row in the 2016 edition of the study "Cities of Opportunity" PwC, analysis that focuses on the 30 largest global financial centers. Singapore is ranked second, followed by Toronto, while Paris and Amsterdam completed the top five.

 
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07.09.2016

Greece fined by EU for bad management of waste

Greece was fined, by European Court of Justice, 10 million euro and a penalty payment of EUR 30 000 for each day of delay for failure to implement EU law on waste. In today's judgment, the Court held that Greece has not taken all the measures necessary for the implementation of the previous judgment of 2009. Thus, the deadline of 25 March 2013, Greece had not yet adopted a specific plan for the management of hazardous waste nor to establish an integrated and adequate network of disposal installations for hazardous waste or put in place a management-compliant "historical waste" (old waste temporarily stored at sites not used to that destination).

 
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07.09.2016

Denmark will buy leaked data Panama Papers

Karsten Lauritzen, Denmark's taxation minister, declared authorities will buy leaked data from a Panamanian law firm that helped customers open offshore companies to avoid paying taxes. Lauritzen says Denmark's Customs and Tax Administration had received an anonymous offer over the summer to acquire data from the so-called "Panama Papers". The information pertains to 320 Danish cases and could affect between 500 and 600 Danish taxpayers. It's the first time that Scandinavian country is granted the option to purchase confidential information. Lauritzen says "everything suggests that it is useful information" and "we owe it to all Danish taxpayers who faithfully pay their taxes." The ministry hopes to get hold of the documents by the end of September. In April, Nordea and Jyske Bank, Denmark's second and third largest banks were among the institutions accused of helping customers avoid taxes.

 
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07.09.2016

Paypal: agreement with Mastercard for store payments

PayPal continues to consolidate its presence in stores and in the business of "traditional" type, through a new agreement with Mastercard, taking a little distance from the web, where it was born as a complementary service to eBay, which was spun off in 2015. After the agreement with Visa,announced in July, the company struck the deal with Mastercard to strengthen its presence directly at the stores and become a universally accepted method of payment.

 
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07.09.2016

German industry slows in July

German industry lost momentum again in July, canceling the recovery implemented in the previous period, due to a sharp drop in manufacturing production (-2.3%). This is the worst figure in the last two years. By contrast, building activity recorded a 1.8% advance. According to the German Statistical Office Destatis, production fell by 1.5% after a revised 1.1% in June (+ 0.8% the first reading). The figure is much worse than analysts' estimates, which had expected a marginal increase of 0.2%.

 
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06.09.2016

Volkswagen buys 16,6% stake in Navistar

Volkswagen buys 16.6% stake in Navistar, American truck manufacturer, according to analysts is the first step for the spin off of the division of trucks expected next year. The German group will thus seek to expand its presence in the American market by focusing on activities related to trucks. The two companies have been talking since early 2015, and they reached the agreement for developing new products. 

 
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