Philipp Hildebrand, vice president of the American asset manager Blackrock and former president of the Swiss National Bank, is afraid that Brexit is the prelude of a "catastrophe" in European financial markets. "Nine years after the financial crisis now is coming the second wave," Hildebrand said in an interview with "Süddeutsche Zeitung". To worsen the scenario is the fact that Europe, at this time, has not healed their own banking system and "it was a big mistake." An unforeseeable event such as voting and unwanted output from Britain by the EU, leading financial markets to question the actual stability of European banks.
The exit of Britain from the European Union sent the financial markets crisis and forces companies that looked at the IPO as a concrete option to review their plans. According to a study by PriceWaterhouseCooper, placements in Europe will not collect more than 25 billion euro by the end of 2016, less than half of the 57.4 billion of 2015.
British Finance Minister Osborne went to the US to meet with major investors on Wall Street, to discuss the future of Brexit statégie to vote, as stated in the note of his office. "While Britain's decision to leave the EU clearly presents economic challenges, we now have to do everything we can to make the UK the most attractive place in the world to do business," Osborne, who backed staying in the EU, said in a statement .
Investors need not fear: Credit Suisse is now "safer than ever", supports the chairman of the management Tidjane Thiam, pointing out that the institution is making progress in its transformation process. "The course of action should not be confused with the security of the bank and with the solidity of the budget," Thiam said in an interview published yesterday by the NZZ am Sonntag. In fact, the bank is working with a long-term strategy that will bear fruit later. "The course of action will move when they give you the results and when our strategy will give a good account of himself", he says he is convinced Thiam.
The Russian state budget for 2017-2019 should be formed based on a scenario that takes into account the worldwide price of oil and the sanctions imposed in Moscow. This was stated by Russian Prime Minister Dmitry Medvedev. "I have held several sessions, in which we discussed common approaches to the formation of the working budget. There are several development scenarios. But there is a common understanding that during the drafting of the budget is necessary to rely on a traditional approach or if you will, a pessimistic scenario on issues relating to factors that generate our budget "looking in particular" oil prices, the prices of other raw materials, as well as restrictions of sanctions that are still in force", adding that the Russian government could discuss the draft budget for 2017-2019 in October.
Fitch sends a warning to Europe and the United Kingdom, that in the aftermath of Brexit have already begun negotiations to regulate future trade relations, beyond the official statements. The rating agency, in an article by analysts, said that "the negotiations will last longer, it will be worse" for both sides, showing "weak positions" and are affected by the political uncertainty and the risk of food populist positions in other European countries. "The time is crucial for both the United Kingdom, to see materialize the benefits highlighted by supporters of Brexit, both for the European Union, which risks delaying the laborious process of integration.
UK manufacturing and industrial production data came in ahead of expectations for May, with both figures a big beat on the forecasts of economists. Manufacturing production decreased 0.5% on a monthly basis in May, down from April when it rebounded 2.3%, while the indicator came in at 1.7% on a yearly basis in the same month. Both readings beat the estimates of -1.2% and 0.6%, respectively. Overall industrial output fell 0.5% on a monthly basis in May, after a revised rebound of 2.1% seen in April. The reading did, however, beat the forecast of a negative 1.0%. On an annual basis, the gauge rebounded 1.4% in the fifth month of the year, while markets had bet on a 0.5% advance in the reported month. Industrial and manufacturing production show the volume of production in the UK's industrial and manufacturing sector, and the indicators have been volatile since the beginning of the year.
Unemployment in Switzerland falls in the monthly comparison, but increases on an annual basis. At the end of June, unemployed persons registered with the regional employment centers (RAV) were 139.127, less 5651 than the previous month, but in 5.871 more than twelve months before. The unemployment rate is so decreased from 3.2% in May to 3.1% in the month under review: an improvement of 0.1 percentage points, therefore, as announced this morning by the Secretariat for Economic Affairs (Seco).
"An epic bubble colossal", so Peter Boockvar, managing director and chief analyst at the Lindsey Group, referring to CNBC what is happening on the global bond markets. In fact, the market for government bonds perceived as "safe", are touching ever lower yields: that of the ten-year US Treasury bond this week fell to historic lows. According Boockvar, investors are not rushing to buy stocks from very few returns for the interest they offer, but to achieve capital gains (or capital gains).
The Donald Trump-style protectionism could hurt the global economy. This was stated by Director General of the IMF, Christine Lagarde, in an interview with the Financial Times yesterday, pointing out that protectionism is negative for growth, social inclusion and people. Lagarde warns about the risk of a new pause in the march of globalization, a moment like the destruction caused from the beginning of the First World War.
MGF Fall Edition is Presenting twelve High Growth companies both public and private i
"Investire nel mattone" è probabilmente una delle scelte meno rischiose. La casa è un bene rifugio
Two years after two historic global agreements were established, leaders and other change agents in
Im September haben die Schweizer Stimmbürger die „Altersreform 2020“ des Bundesrates abgelehnt.
The 2017 symposium, with the theme "Successfully crossing borders", will have a strong focus on the
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