News

27.08.2016

Iceland ready to abolish capital controls

The Icelandic economy, tremendously affected by the financial scock of 2008 which saw the three main banks fail and the collapse of the GDP in a few months by 60 percent, finally sees the light. The center-right government in power, hit by the scandal of Panama papers in the spring, has announced a major step towards the abolition of controls on capital movements introduced after the crisis. The proposals being considered by the national parliament (Althingi) concern the Icelanders, who will see again the possibility (repealed after the shock of 2008) to invest in real estate and other abroad, and buy foreign currency without limitations for travel in the world.

 
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27.08.2016

Yellen: rate-hike is coming but not immediately

Janet Yellen, number one of the Federal Reserve, said during the symposium in Jackson Hole, which rate-hike will be if the macro data should confirm the outlook prepared by the Fed. Therefore she has opened the doors to the long-awaited increase for interest rates, but did not announce the date. The Chair of the Fed left no doubt to be reasonably satisfied with the economic developments. "If the growth was not fast, was sufficient to generate further improvements in the labor market," she pointed out, that is, driving out the concerns that had held back the hands of the Central Bank in the first half of the year when GDP up by 1 % - the second-quarter performance was yesterday revised downward to 1.1% from 1.2% - and a slowdown in job creation had been added to global uncertainties such Brexit and the Chinese slowdown.

 
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26.08.2016

Citigroup: global recession in case of Trump victory

If Donald Trump will become the next president of the United States, this event will cause a global recession order "0.7 / 0.8%" due to the uncertainty about the future of the economy that the victory of the Republican candidate would bring with him . This prediction of the US banking giant Citigroup, in a research conducted by its chief economist, Willem Buiter. On the contrary, a Hillary Clinton victory, accused of being very close on Wall Stret which Citigroup is one of the pillars, would not alter the course of the world economy for "continuity in its policies."

 
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26.08.2016

No state aid for Portuguese bank saved by EU

The European Commission has approved a recapitalization of 4.6 billion euro, more than half of them with public funds and issuance of new sovereign debt, to save Caixa Geral de Depositos (CGD), a Portuguese state bank that is in serious difficulties.

 
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26.08.2016

Dieselgate: Volkswagen reached an agreement with US dealers

Volkswagen has reached an agreement with 652 American dealers for losses incurred due to the emissions scandal, the so-called Dieselgate. The Deutch company has not specified the amount of the transaction "in cash" and probably until "late September" will work to develop "details" of the cartel which in any case must be examined by a Court of San Francisco. For about a year the American dealers were forbidden to sell the VW diesel cars manufactured during the period affected by the scandal. The company, in a statement, confirmed that the agreement provides "cash payments and other benefits that will be granted to retailers."

 
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25.08.2016

US Vice-President Biden: Nord Stream 2 pipeline is a bad deal for Europe

The doubling of the gas pipeline connecting Russia directly with Germany through the Baltic Sea is "a bad deal" for Europe and destabilize Ukraine. US Vice President Joe Biden has spoken in this way,  in Stockholm where he met with Swedish Prime Minister Stefan Loefven. "From our point of view the Nord Stream 2 gas pipeline is basically a bad deal for Europe," he said adding that "locked in a greater dependence on Russia would ultimately destabilize Ukraine. Europe needs a diversified suppliers gas. "

 
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25.08.2016

Jackson Hole: waiting for FED decision on US interest rates

Highly anticipated Jackson Hole meeting opens today, the symposium that brings together every year the central bankers from around the world organized by the Kansas City Fed. The president of the US central bank, Janet Yellen, together with the presidents of other central banks will find themselves arguing over out of the huge black hole inside the monetary policy, caused by the financial crisis of 2008. Before the meeting, the member of the Fed, Stanley Fischer, said that monetary policy was not yet able to stimulate productivity growth. But governments ignore the demands of the central banks, leaving the presidents Janet Yellen (Fed), Mark Carney Bank of England), Mario Draghi (ECB) and Haruhiko Kuroda (BoJ) to carry the burden of economic stagnation.

 
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25.08.2016

Gold falls and increases volatility on Wednesday

The yellow metal stopped the fluctuations around the 1,340 level, in which it had been in for the past weeks, as the metal fell on Wednesday due to being pressured by the 20-day SMA from the downside. In the fall the bullion almost reached the weekly S2 at 1,322.63 and ended the session at 1,326.32. On Thursday morning gold has rebounded against the weekly support level and slightly surged, as it has encountered the 55-day SMA at 1,327.31. As the metal is pressured between the two levels, it is most likely going to remain unchanged during today's trading session. 

 
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25.08.2016

Switzerland: it's hard to survive for private banks

Switzerland has seen disappear, as a result of sale or liquidation, 10% private banks in the course of 2015. Over the past year, their number dropped from 133 to 121, as revealed in a study by the consulting firm KPMG. The trend continued in 2016, with a further drop in July, with "only" 117 survived. Despite the disappearance of the companies less profitable in general the performance of the branch is not improved. Two-thirds of the 87 tested banks have seen their results deteriorate last year, as stated in the annual organized by KPMG and the University of St. Gallen, which excludes UBS and Credit Suisse.

 
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25.08.2016

Big Banks are studying a new Bitcoin

Four big banks are working to create a new Bitcoin to facilitate interbank transactions and that would save about 20 billion dollars a year. The project for the creation of a new digital currency similar to Bitcoin, comes from four largest banks: UBS, Deutsche Bank, Santander and BNY Mellon. Even the British broker ICAP is involved in the idea, in order to start using the new currency from 2018.

 
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Events


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    Two years after two historic global agreements were established, leaders and other change agents in

  • 25
    Oct

    Im September haben die Schweizer Stimmbürger die „Altersreform 2020“ des Bundesrates abgelehnt.

  • 30
    Oct

    The 2017 symposium, with the theme "Successfully crossing borders", will have a strong focus on the

  • 31
    Oct

    Dieser Event ist ausschliesslich für Pensionskassenvertreter (Stiftungsräte, CEOs, Anlageverantwor

  • 01
    Nov

    Nach Jahren des geldpolitischen Experimentierens sind die Finanzmärkte so verzerrt wie selten zuvor

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