News

03.06.2016

China: negative signals from service sector

Negative signals still come from China, with the service sector, in May shows a slower pace. While the manufacturing industry continues to falter, the indicator on services adds uncertainty about the direction of the second largest economy in the world. In May, the Purchasing Managers Index (PMI) service managers developed by Caixin and Markit fell to 51.1 from 51.8 in April, indicating a slowdown in the nation's service sector. It has disappointed the expectations were for a level 52. The figure differs slightly from the official services PMI, which, in May, fell to 53.1 from 53.5 in April.

 
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02.06.2016

OPEC: Vienna Summit didn't lead to any conclusion

OPEC fails to take any decision regarding the production, despite the efforts of Saudi Arabia's accession to merge towards a freeze of the production ceiling. The oil is reacting very badly to this news and collapses on today's minimum: WTI yields 1.7% to $ 48.16 a barrel and Brent 1.2% to $ 49.09. After 4 hours of debate, the 13 OPEC oil ministers have not found the agreement. At the opening of the debate this morning, the Minister of Qatar Mohammed Bin Saleh al-Sada said that the cartel expects a sharp decline in non-OPEC production in 2016.

 
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02.06.2016

Only five redundancies at Greubel Forsey in final

The manufacturer of luxury watches Greubel Forsey, for the first time in its history, is forced to lay off, but the deleted jobs are only five, compared to the ten originally planned. This was stated in an interview with "L'Agefi", co-founder Stephen Forsey society. "We were 115 and now we have 110," but "our priority is to maintain the continuity." Greubel Forsey produces watches, only cent a year, whose prices range from 200,000 to 1.5 million Swiss francs, made for a high range of collectors.

 
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02.06.2016

Zhukovsky airport in Moscow will be quoted on the Stock Exchange in 2017

The Zhukovsky airport, the fourth Moscow International site, opened its doors despite the decline in air traffic caused by the economic downturn and the international sanctions imposed on Russia. Inaugurated by Prime Minister Dmitry Medvedev, the airport is located in the small town of Ramenskoye, near Moscow; it is the only airport in the Russian capital belongs to foreign investors, and by 2017, it will be quoted on the Stock Exchange, the first airport in the country. The first airport operator is the Air Kyrgyzstan, Kyrgyz airline, whose flights are being transferred to the new airport in the airport Domodedovo. The airport management company, Ramport Aero, said that will have a capacity of 4 million passengers a year.

 
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02.06.2016

ECB keeps rates unchanged after Vienna meeting

According to market expectations, the European Central Bank left interest rates unchanged at the end of the Monetary Policy Council. The main rate remains stuck at a record low of 0.00%, the rate on bank deposits to -0.40% and the marginal lending facility at 0.25%. The ECB announced after the meeting that was held in Vienna. The plan of the corporate bond purchases ECB will start on June 8 and June 22 will be the turn of the maxi-Tltro loans to banks.

 
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02.06.2016

Uber: Saudi Arabia strongly believes in the Californian app

The Saudi Arabia sovereign fund invested $ 3.5 billion in Uber, bringing in $ 11 billion for the investment reserves of the American app, now owning 5% of Uber. This is the largest investment ever made in a private company by the fund: its general director Yasir Al Rumayyan will enter the board of directors. While in the Middle East Uber is spreading more peaceful and comprehensive way, one of the cities where it is growing most is Cairo. As the Financial Times notes, in Saudi Arabia, Uber is popular as a result of the transport needs, due to the fact that women are forbidden to drive.

 
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02.06.2016

The UBS barometer: the industry begins the ascent

New economic recovery signals for the Swiss industry: in the second quarter, the UBS barometer of small and medium-sized enterprises (SMEs) rose to -0.16 points, compared with -0.18 points in the first three months of the year . For large companies, which compared to the smaller ones have suffered less than the ex-strengthening, it has gone from 0.24 to 0.52 points. "The industry seems to have started to get back on top," the UBS economists commented in a statement today. In the second quarter barometers they have reached the highest level since October 2014. Regarding SMEs contributed to this improvement especially the increase in orders and backlog slightly higher than the previous month. The forecasts relating to orders for the third quarter were however not very rosy, a fact that probably prevented a more marked elevation of the barometer.

 
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02.06.2016

Credit Suisse: 75.5 million shares to fund dividend

Credit Suisse will issue 75.5 million new shares to finance the optional dividend paid for the year 2015. The increase represents 3.8% of the current share capital. The price was fixed at 12.47 francs per title. Shareholders have exercised almost 1.3 million option rights in favor of a dividend in the form of new shares. Yesterday it was the last day to choose the payment method, like a today's press release mentions. The issue price was calculated on the basis of the reference price of the shares Credit Suisse, or 13.86 francs, less 10%. The distribution will take place on June 6th.

 
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02.06.2016

LSE-Deutsche Boerse merger: cutting workers in the light?

The merger between the London Stock Exchange and Deutsche Boerse could involve cutting 1,250 jobs in what would become the largest European square. The predictions announced the two companies even if the London Stock Exchange states that will create 200 new jobs to create new initiatives, waiting for July 4, the London Stock Exchange shareholders approve the transaction. LSE shareholders will receive 0.4421 new shares for each LSE share they own, those of Deutsche Boerse will receive one new share for every Deutsche Boerse in the portfolio.

 
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01.06.2016

Locked rates don't push the request mortgages in America

Requests for loans from American families return to fall, despite the Fed's decision to freeze rates. In the week ending May 27, the index that measures the volume of mortgage applications decreased by 4.1%, after + 2.3% recorded in the previous week. About the index relating to refinancing applications it marked a decrease of 4%. This was announced by the Mortgage Bankers Associations (MBA) stating that the rates on thirty-year mortgages remained stable at 3.85% as in the previous month.

 
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