Japanese household spending continued to decline in July as the strongest labor market in at least two decades failed to boost wage growth significantly. Household spending fell 0.5% year-on-year in July, according to Japan's Statistics Bureau, the fifth-consecutive decline and the 21st month out of the last 24 that spending has fallen. Analysts had expected spending to fall 1.3% in July.
The free trade agreement between the United States and the European Union "has not failed", and precisely could get the classic twist. The next day the words of Vice cancellerier German Gabriel, who had announced the failure of TTIP, Brussels wanted to deny. "The European Commission has made steady progress in the current negotiations on the TTIP," said European Commission spokesman, Margaritis Schinas, recalling that "the Commission has received unanimous negotiation mandate of the Member States to negotiate this agreement."
The American giant online sales Amazon tries to erase the controversy over the quality of the treatment of its employees and launched the trial of a 30-hour work week, from 40 as a rule, reserved for the moment to teams of a few dozen temporary workers full.
Negative rates bring more advantages than disadvantages in the Swiss economy. With this motivation Andréa Maechler, management member of the Swiss National Bank (SNB), defends the continuation of the strategy. "The financial markets expect a further easing of monetary policy in Britain and in the euro zone, and even in the USA the increase in interest rates goes only slowly," she said in the interview published on "SonntagsBlick" on Sunday. SNB currently applies -0.75% rate on deposits stored with the central bank.
Uber is acting in Switzerland as a regular employer and then can not escape the main obligations, in particular the payment of social security contributions: the analysis was made by Professor Kurt Pärli Basel and is the first assessment of law in this matter, executives Unia declared at a press conference this morning in Bern. Uber, it was recalled, refuses to acknowledge his "taxi drivers" as ordinary wage earners inventing a fictitious independence system, while even the Suva has compared the company to a normal employer.
Roche, the Swiss pharmaceutical giant, has obtained emergency authorization from the U.S. Food and Drug Administration to use a diagnostic Zika virus test. The FDA has given the go-ahead to this test called LightMix Zika rRT-PCR, in view of the situation of urgency especially in Latin America.
CEO Sergio Marchionne has denied the press rumors that were circulating at the weekend about possible news for the Magneti Marelli negotiations between the FCA and Samsung. The rumors that leaked out indicated that the vice president of Samsung Electronics Lee Jae Yong, would be moved to Europe to participate in the appointments to the Board of Directors of Exor, of which he is director.
Russia and Iran tighten relations in oil field building together five platforms in the Persian Gulf; the deal, which is worth a billion dollars, also involves the gradual transfer to Iran of the necessary offshore technologies, and this "is a dream come true", as stated Ehsanollah Mousavi, managing director of Iranian company TODC. The agreement was signed by the shipbuilder, russian Krasnye Barrikady and the Iranian company TODC: the project, for $ 1 billion, involves the construction of five offshore platforms in the Persian Gulf. According Ehsanollah Mousavi, CEO TODC (Tasdid Offshore Development Company), the agreement provides for the construction of an offshore platform every two years off the Iranian port of Khorramshahr, situated in the extreme south-west of Iran, on the mouth of the Arvand River (also known as Shatt ul Arab).
The TTIP can be said definitively failed. In the opinion of Sigmar Gabriel, vice chancellor and Economy Minister German, "talks with the US are in fact failed because we Europeans, of course, must not succumb to American demands: nothing is moving forward ". In an interview on German television ZDF, Gabriel added that "the negotiations with the US have failed de facto because we Europeans do not want to subject us to the US demands."
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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