The EU Commission sees continuing in Italy a "moderate growth" but revises downward the GDP 2016: 1.4% expected in February goes down to + 1.1%. Brussels confirms, then, the estimates on Italian unemployment in 2016 (11.4%) and slightly lower than the 2017 (from 11.3% to 11.2%). In the spring forecast, Brussels also revise downward the Italian deficit of 2016 (from 2.5% forecast in February down to 2.4%), but raised the estimates for the one of 2017 (from 1.5% to 1, 9%). The structural deficit instead, "after a marginal improvement" in 2015, "worsens by more than half a percentage point in 2016", reaching -1.7%. It remains unchanged in 2017.
Blow to Johnson & Johnson, which will have to compensate the record sum of 55 million dollars to an American woman. A St. Louis court has in fact imposed on the American company a maxi-compensation against Gloria Ristesund, 62 year old of South Dakota which states that the use for years of talc-based products led her to develop an ovarian cancer . It is not the first unfavorable verdict for J & J, after he was sentenced in February to pay $ 72 million to the family of an Alabama woman, Jackie Fox died following an ovarian cancer, who had sued claiming that illness, and death was caused by products containing talc. In addition the company is facing some 1,200 lawsuits on charges of failing to inform users about the risks linked to its talc-based products.
Twitter continues its descent on the New York Stock Exchange, where its meeting yesterday hit its historic low at $ 13.90 per share. It is not so much the daily downward (-2.9%) how much the difference compared to the listing price of 2013: the value of the stock of social microblogging has literally halved compared to the $ 26 IPO. In addition, the performance year to date is bad (-36%) as well as the accumulated loss in the last 12 months stood at -70%. To determine yet another collapse were the disappointing quarterly results, disclosed last week, even if the title is for some time at a critical stage.
Swisscom in the first quarter of 2016 achieved net profit of 364 million francs, up 3.7% from a year earlier. The business volume of the largest Swiss telecommunications operator has instead contracted by 0.3%, to 2.885 billion. The decline is explained by the reduction of tariffs, it says the biggest Swiss telecom operator said in a statement today. "In light of the difficult market conditions, are satisfied with the business," says the chairman of the management Urs Schaeppi, quoted in a statement today. "The market is increasingly saturated and it becomes more difficult to gradually grow, for example in the mobile communications sector".
The king of Spain Felipe has dissolved parliament and called new elections for Sunday, June 26. "We hope we have all learned the lesson and that the next parliament to agree (on the government) as soon as possible," said the chairman of Patxi Lopez at a press conference in which he confirmed the signature of the king of the decree index voting. The last elections were held in Spain last December, but months of negotiations have failed to produce an agreement between the political forces to form a new government.
Slight upturn in inflation in the Euro Zone. In March, producer prices have marked a rise of 0.3% compared to 0.7% reported not revised the previous month. The figure, announced by the European Union statistics (Eurostat), is better than the estimates of analysts who had expected a 0.1% decline. On an annual basis there was instead a decrease of 4.2%, as in the previous month.
UBS Q1 profits fell 64 percent with weak numbers in all segments: wealth management - 40%, investment bank - 67% and corporate finance - 39%. The only bright spot is an increase in net new money which follows 2 consecutive quarters of outflows.
The European Bank for Reconstruction and Development (EBRD) has decided to allocate 14 million euro gift to small and medium Tunisian enterprises in order to be eligible for various types of technical assistance: consulting, marketing strategy of products, management human resources, the ISO quality system. This was announced by director of the national program to support SMEs of Berd, Anis El Fahem. The business receiving the aid are those created by at least two years and with a turnover of at least EUR 50,000.
The fate of the 500-euro banknotes is marked: the Governing Council of 4 May the ECB will decide the abolition mode. In the stores it will still be accepted, but the production is going to be interrupted. It seems to have come to an end the 500-euro note, long been a target of the EU institutions to be used in criminal activities and money laundering. According to Handelsblatt, in fact, the ECB Governing Council in the May 4 will decide the manner in which the abolition will be performed.
Close agreement between Fca and Alphabet, the holding company which owns Google, the use by Italian-American automotive group of technology for the automatic guidance developed by Mountain View and that led to the creation of the Google Car prototype. A technology that Mountain View intends to sell to the various car manufacturers, even if they have had considerable impact in the media that the Google Cars for six years already are testing the software for automated driving on the roads of California. According to some estimates, the prototypes of Mountain View would have accumulated so far 1.5 million miles as part of these tests. However, top managers of Google engaged on the project of four-wheeled robots have always specified that the group is not interested in becoming a car manufacturer, with the role of supplier of components.
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