The EU could soon introduce a regulation on payments in cash, by the Fourth Directive to combat money laundering by 2017. Brussels could impose at European level a ceiling for cash transactions of 5,000 euro. The proposal came from the German Finance Minister, Wolfgang Schaeuble, who believes that establishing a European threshold, beyond which it would be forbidden to pay cash, would be the best solution.
From next August PostFinance will reduce the interest rates of different current accounts: the private account in CHF or EUR is even zero, from the current 0.01%. The result of this decision is the current difficult context of the interests in domestic and international financial markets, leading to pressure on operating results. The interest rate on savings E-bill for private customers, business or associations (in CHF or EUR) is reduced to 0.05% from 0.10%, as the press release informs.
Employed in the manufacturing sector increased in Germany in April. According to estimates released today by Destatis, the increase amounted to + 0.9% from the previous year, an increase of about 49 thousand working units employed in factories with more than 50 employees. Overall, the German National Statistical Institute points out, at the end of April, some 5.4 million people are employed in the sector. The number of hours worked in April grew by 4.9% trend, reaching € 723 million. Total revenues of the sector, in the month under review, totaled 23.6 billion euro, up 2.9% from April 2015.
Despite the June summit has not led to any conclusion, OPEC saw off the production in May. This was revealed by the latest monthly bulletin of the cartel, which confirms also relatively flat demand. According to the latest Oil Market Report, the demand is expected to grow by 1.2 million barrels a day this year to 94.18 MBG, an estimate that are left untouched by previous forecasts.
The title of Credit Suisse is at historic lows: at the Zurich Stock Exchange the title stock of the second Swiss bank has been exchanged in the afternoon at 11.61 francs, the lowest level since 1989, according to Reuters calculations. Around 15.30 the share has come to lose about 4% over Friday, then it is slightly relieved: after 16:00 left on the ground about 2%. Bank stocks are under pressure throughout Europe. UBS also not exempt from this trend.
Microsoft, with a flash deal, bought Linkedin cost of $ 26.2 billion, $ 192 per share, the largest professional network in the world. Microsoft's goal is to revive the social network, with over 400 million users, in recent months has disappointed investors and markets because of competition and a labor market recovery that also caters to more traditional channels. In fact, in recent months LinkedIn showed the first signs of weakness: in the last quarter of 2015 closed with a red amounting to $ 8.4 million compared to a profit of 2.9 million profit in the same period last year .
Russian Energy Minister Alexander Novak told the press that negotiations for the resumption of gas supplies to Ukraine will depend on the proposals of Kiev. "Everything will depend on what will be proposed by Ukrainian colleagues, and in this sense, for all I know," Naftogaz "and" Gazprom "are in contact," said when asked about resumption of gas supplies. Formerly the CEO "Gazprom" Alexey Miller declared that the company had received the request of "Naftogaz" to resume gas supplies from Russia to Ukraine in the second half of 2016 until April 2017. The "Naftogaz" answer is that it has offered to " Gazprom "to sign a supplementary agreement to the contract for the supply of gas in the next three quarters, economically reasonable considering the price level" less transportation hub. "
Walmart supermarket chain will no longer accept Visa cards in its stores in Canada from July 18, reasoned decision from the fees applied considered overly high. At first in Thunder Bay stores it will be impossible to use Visa and then it will be phased in across the country. "Walmart made this business decision despite Visa offering one of the lowest rates available to any merchant in the country," a spokesperson said. "To ensure we are taking care of our customers' best interests and delivering on our promise of saving customers money, we constantly work to reduce our operating costs, including credit card fees," Walmart Canada said.
The drop in oil prices is a slowdown in global economic signal. This was stated by the European Central Bank (ECB) in anticipation of the Economic Bulletin, explaining that "while in 2014 most of the drop in oil prices could be explained by the significant increase in the supply of crude oil, the lowest price of the most recently is the reflection of the decline in global demand ". The ECB warns that "even if the low price of oil may support domestic demand due to rising real incomes in the importing countries, this may not necessarily offset the wider effects of the weakening of global demand."
China continues to show signs of weakness, triggering panic in financial markets frightened by the possibility that the slowdown in emerging economies could infect the other major industrialized economies. The latest data on industrial production in fact show an increase of 6% in May on an annual basis, exactly as in the previous month, showing no acceleration in the pace of growth, respecting the expectations of analysts. On-month the figure has gone up by 0.45% from 0.47% in April.
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