Exports of watches in 2016 should also fall by 10%. The director of the watchmaking Federation (FH) Jean-Daniel Pasche, in Neuchâtel, during the association's Annual Conference, said that the decline could be even higher depending on the brand. Pasche believes that the British vote on brexit has accentuated the uncertainty and the upward pressure on the franc. In short, the slowdown observed in this area as early as the middle of 2015, is expected to continue, mainly because of the loss of momentum, completely unexpected, the American market. It is a bad surprise, he argued.
Brexit effect even in the auction houses: the largest uncut diamond in the world (1,109 carats), as well as the second largest ever found, did not find an owner. "Lesedi La Rona" ( "Our Light") was discovered in November 2015 in a Canadian-owned mine in Botswana. As for greatness surpasses only the "Cullinan Diamond" found in 1905 in South Africa: one of the diamonds taken from it joined part of the British crown jewels.
The shadow of Brexit seems to have already stretched on Europe: within a few days by the outcome of the British referendum, Dutch 56 thousand have signed an online petition calling for the release by the European Union of the Netherlands, delivered by the promoters to lower house of parliament.
The investors race to be considered safe havens in times of uncertainty has increased the amount of sovereign bonds in circulation worldwide at negative yields. According to Fitch Ratings, until last Monday the total stood at 11.7 trillion dollars, an increase of 12.5% compared to the end of May. According to the rating agency, the thing to note is that investors are willing to hold them in the portfolio for a longer period.
Juncker did not hesitate to answer the request of the British car industry free access to European markets despite the exit of the country from the Union, which was reached informally in the morning. The domestic auto industry success "depends on access to the European single market without restrictions, influence on European legislation to protect the interests of the British automotive industry and the ability to recruit talent from abroad", Mikle Hawes, President of SMMT industry federation, said.
AZ Swiss & Partners, a subsidiary of Swiss Azimuth Group, today signed an agreement to acquire the business operations of Sogenel Capital Holding, including all assets, customers, contracts and agreements, which will create a new division within AZ Swiss. "After several years after our first partnership in Switzerland, and following a major reorganization of the Swiss company, we are happy to announce our first funding operation - Pietro Giuliani, Chairman and CEO of Azimut Holding commented, stating:" The our intention is to become a major operator in Switzerland, attracting private bankers and exporting our partnership model in a rapidly developing market on the legislative and regulatory side. "
Algorithmic trading, a systematic method that utilizes mathematical models for making transaction decisions in the financial markets, is a global phenomenon, but the subject is a complex one1. Stock exchanges began transitioning from a traditional auction to computerized transactions in the early 1980s. In the late 1980s and early 1990s, Electronic Communication Networks (“ECNs”) became increasingly popular for traders looking for more efficient access to the markets. In 2001, IBM reserchers published Agent-Human Interactions in the Continuous Double Auction2. The research paper found that in a Continuos Double Auction market process, simple software bidding agent- strategies were able to outperform human subjects by a clear margin, setting the stage for the high-frequency trading, an algortithmic trading approach characterized by high speeeds and widely used today in the financial markets. Last month I interviewed, in occasion of the publication of his last book “A guide to creating a succesful algorithmic Trading Strategy”, Perry Kaufman. He began his career as a “rocket scientist,” first working on the Orbiting Astronomical Observatory (OAO-1), the predecessor of the Hubble Observatory, and then on the navigation for Gemini, later used for Apollo missions, and subsequently in military reconnaissance. There is a certain connection between the construction of a trading program and the world of rockets; in fact, the earliest systematic programs used exponential smoothing, a technique developed in Aerospace for estimating the path of missiles. In the early 1970s, he started trading using automated systems while the idea was demeaned by professional traders as “ridiculous”, “the market just doesn’t work that way”, “you can’t make money if you don’t know the value of the stock”8. Now that opinion seems to have been turned upside down
Ilva remains Italian. After the setback made in recent days by turkish Erdemir Group, the consortium for the rescue of Ilva has always seen eye with a favor from the government, was born. Yesterday the Board of Directors of Cassa Depositi e Prestiti chaired by Claudio Costamagna has been convened in extraordinary session to decide the new action plan the view of the expiry, in less than 36 hours, the deadline for submission of binding offers .
S & P has no plans to cut the sovereign ratings of other EU countries following the 'leave' victory in the British referendum last week. The statement was made by the head of sovereign ratings agency Moritz Kramer, during a video conference. On Monday, according to the result of the referendum, S & P had cut two notches its assessment on the UK, to AA from AAA, maintaining a negative outlook.
Swiss tourism may soon have to deal with the collapse of the pound, a result of the referendum on Brexit in the UK. The statement, made by the vice president of Switzerland Tourism Urs Eberhard to press agency ATS, also makes it clear that the canton Valais would suffer more the drop in overnight stays than others.
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