News

06.06.2016

Steel War widen: US attack chinese dumping

The United States throw accusations at China on the issue of unfair competition and dumping in the steel sector, plagued by excess capacity globally but especially right in the Asian giant. "In line with the reforms of China, the United States supports efforts to reduce excess capacity and leave it to market forces to determine investment", the State Treasury Secretary Jack Lew said, pointing the finger at " the "Chinese excesses" that distort global markets. "

 
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06.06.2016

Credit Suisse under investigations in the UK for Mozambico's business

The British authorities are investigating against Credit Suisse and the Russian group VTB in the granting of loans for several hundred million dollars to companies with ties in Mozambique, which would be served in particular to the acquisition of war material. This was reported by "Wall Street Journal", which adds that transactions comprise receivables of $ 622 million (613 million francs) for combat equipment, 535 million for the construction of ships and 850 million for the fishing fleet.

 
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06.06.2016

Brexit: opinion polls see the UK for the first time away from Brussels

Change of sentiment in the English people. A little over two weeks since the referendum on Brexit of June 23rd, the polls show a turn in the acclaim and now signal a trend victory of the supporters of the "Leave", who wants a divorce between London and Brussels. According to the latest survey by YouGov for ITV, they lead the game with 45%, ahead of 41% of "Remain". A few days ago it had been another survey, this time published by the liberal daily The Guardian, to have created confusion among analysts and investors themselves, finding the first favorable outcome for Brexit in a telephone survey.

 
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06.06.2016

Saudi Arabia provides oil at discounted prices to Europe

Saudi Arabia has announced to European customers a discount on crude oil by strengthening the signal of growing competition between the two producers of the OPEC cartel, Saudi Arabia and Iran. The price cut comes after the new bankruptcy during the meeting in Vienna despite the efforts of the Arab country to converge towards a membership freeze of the production ceiling. The Vienna Summit would have to approve a bid rationing of the cartel, but are still conflicting views. In particular, Iran remains opposed, and has recently restored its production, after the long stall caused by contention on nuclear power.

 
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06.06.2016

Referendum minimum income: Switzerland later rejected without appeal

The proposal was rejected by an overwhelming majority, with a percentage of 78%. So the Swiss have expressed a clear denial, as had clearly foreseen by the polls. Even the government was opposed to the excessive spending that would entail. The proposal for a "citizen's income" equal for all was launched by Daniel Haeni, owner of Coffee Basel, and a group of his allies who call themselves independent, but showed from the outset to have little chance of being approved despite the interest he had aroused in public opinion Swiss. In addition, for approval it would be needed a double majority, that of the "cantons" and that of voting.

 
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06.06.2016

Referendum "cash cows": all cantons slam proposal

Swiss voters rejected sharply the referendum known by the term "cash" cows. On Sunday consultation 70.8% of the citizens who went to the polls said no; also in any canton, the initiative has found a majority. If the rejection did not surprise, the percentage of votes against was remarkable. The last survey conducted by gfs.berne on behalf of SSR let it portends a tighter result: the share of opposites was in fact 49%, while that of 40% of the supporters.

 
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06.06.2016

Rothschild and Martin Maurel: merger ahead

Rothschild and Compagnie Financiere Martin Maurel have announced their intention to merge, that decision would give rise to a private bank with assets under management of approximately 34 billion euro, one of the first independent player in France. In a joint statement, the institutions have explained that the transaction - which assesses Martin Maurel € 240 million - will be financed by a mix of new shares and cash Rothschild and external credit lines. The Martin Maurel shareholders will receive 126 Rothschild Martin Maurel shares for each share held, or may be paid for the equivalent in cash. The family will receive Maurel Rothschild actions.

 
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03.06.2016

US: trade deficit lower than expected in April

The American trade deficit worsened slightly in April, staring at about 37.4 billion dollars from 35.5 billion reported in March. In fact, the previous figure was revised from a preliminary 40.4 billion, against which there would have been an improvement in the last month. The figure, announced by the Bureau of Economic Analysis (BEA) of the US Department of Commerce, is below the estimates of analysts who expected a major deficit of 41.3 billion dollars.

 
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03.06.2016

USD/JPY no major obstacles until 107 yen

Pair's Outlook USD/JPY decided not to pull back after breaking out of the channel and prolonged the decline down to the weekly S2 level. If there is a rally today, as suggested by the daily technical indicators, it is likely to stay limited by the monthly PP and weekly S1 at 109.50/20. The current target is a critical support area between 107 and 106.65 yen, which is formed by the monthly S1, but even more importantly—by the 38.2% retracement of the four-year up-move started back in 2012. Accordingly, the risks are to the upside.

 
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03.06.2016

Bank deposits: UBS and Credit Suisse sign agreement with US

The American Federal authorities guarantee of bank deposits has announced today that it has concluded an agreement with eight financial institutions, including UBS and Credit Suisse, which concerns a total of $ 190 million (188 million francs). The agreement puts an end to a series of disputes about the sale of securities related to real estate loans of the former Countrywide Financial. In a statement the Federal Deposit Insurance Corp (FDIC) states that the agreement was signed with UBS, Credit Suisse, Barclays, BNP Paribas, Deutsche Bank, Edward D. Jones & Co., Goldman Sachs and Royal Bank of Scotland.

 
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