News

26.05.2016

Merger Anheuser-Busch InBev - SABMiller: EU approves

Brussels has given its consent to the merger of the two giants of the beer, Anheuser-Busch InBev and SABMiller. The European Commission has removed any regulatory obstacle to the agreement between the two largest brewers in the world. The agreement is subject to the sale of the entire beer industry Sab in Europe. According to the Competition Commissioner Margrethe Vestager, this decision "will ensure that competition is not weakened in these markets and that consumers will not have the worst." For the Commission, Europeans buy beer for about € 125 billion each year. The sale is intended to alleviate the concerns that SABMiller, which produces Budweiser, would have had a slump in the European market.

 
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26.05.2016

BSI Singapore will continue to operate regularly

BSI can now continue to work in Singapore, despite the announcement yesterday by the local authorities of serious violations of anti-money laundering rules. The decision of the Monetary Authority of Singapore (MAS) to prevent the Ticino bank to operate in the country will come into force at a later date. "In this way we want to allow to transfer the assets of BSI to EFG International", BSI indicates in a statement today. Furthermore the Ticino institution explained that the bank is not affected by insolvencies and is in a good liquidity situation. The bank also will not suffer negative consequences from the penalties imposed by Mas and FINMA. Both fines will be paid out of the general reserve for banking risks.

 
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26.05.2016

The price of oil above $ 50 a barrel since November

Brent is back, for the first time since November 2015, above the threshold of $ 50 a barrel touching share $ 50.1 (+39 cents). Also up WTI Texas (+37 cents to $ 49.93). To push the price of oil is the drop in producer stocks in the United States and the difficulties in Canada because of the big fires and in Venezuela because of the serious crisis that is affecting the economic model of the country. Since January, when it touched the lowest level in 12 years, the price has almost doubled.

 
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25.05.2016

The Swiss GDP grows slowly

The gross domestic product (GDP) of Switzerland is expected to grow by 1.1% in 2016 and 1.2% in 2017, according to the institute's estimates Lausanne Créa, which provides a + 2.1% in 2018. The forecasts have been revised downwards: last November, the prediction indicated a progression of 1.2% for this year and 1.8% next year and Frame rate of the institute review the causes go sought globally. On the international market, the average growth since 2000 has been clearly below average, indicating Créa. The negative trend of 2015 was prolonged in the first quarter of this year, when the world's exports decreased by approximately 8%. The price of raw materials plummeted in recent months, he has exacerbated the problem.

 
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25.05.2016

Toyota becomes Uber's shareholder

Toyota bought a stake in the capital of Uber, the world leader in the sector. The transaction value was not disclosed, but the agreement provides an important trade chapter: Toyota will ensure the leasing of vehicles to drivers which in turn will repay with shares of their tariffs. The move of the Japanese manufacturer is the answer to the initiatives that competitors have implemented in recent weeks: the GM found for $ 500 million participation in Lyft, while Volkswagen has entered the Israeli Gett putting on the plate 300 million. The more substantial the wildcard has nonetheless played the Apple, ready to bet a billion of Didi-Chuxing, the Chinese Uber growing very fast. In the opinion of analysts, Uber is the right partner to Toyota with its smaller models can easily deal with the traffic of the most congested urban areas where the US company is the undisputed leader.

 
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25.05.2016

Central Banks believe being now out of ammunition

OUR MACROECONOMIC ANALYSIS The three largest developed economy Central Banks met again in April. The Bank of Japan took the markets by surprise in ultimately declining to take new easing measures. This could very well be a sign that Central Banks believe they are now out of ammunition. Governments must now seriously pick up the pace of structural reforms to make long-term growth last. It happens that growth generally fell short of expectations in the first quarter, except in Europe and China. The current slowdown includes a strong structural component (i.e., demographic changes and a marked slowdown in productivity gains). The consensus nonetheless forecasts a macroeconomic upturn in the second half, which will be welcome in the current environment. This rebound has already been abundantly priced in to commodities.

 
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25.05.2016

Green light to IMF and Eurogroup aid for Greece

White smoke for aid to Greece after a long negotiation that lasted 11 hours: Prime Minister Alexis Tsipras has got not only aid but also the green light to debt restructuring. The International Monetary Fund (IMF), to break the deadlock, has explicitly demanded to the Eurogroup a serious and concrete commitment on debt relief before getting involved in the third assistance program. The Eurogroup has put pen to paper this commitment while the IMF, later this year, will ask its board to contribute to the plan.

 
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24.05.2016

BSI: Federal Prosecutor opens investigation for money laundering

BSI, the oldest bank in the canton of Ticino, is under fire for involvement in the scandal of the Malaysian fund 1Malaysia Development Bhd. The private bank in Lugano risks heavy penalties. First, the central bank of Singapore has ordered BSI to stop all the activities of the local subsidiary BSI Bank Ltd. The fund 1Malaysia Development Bhd, established in 2009 by Prime Minister of Malaysia, Najib Razak, is accused of having embezzled more than 650 million dollars of capital of public companies to divert them to offshore accounts payable at the same premier.

 
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24.05.2016

US real estate: sales new homes than expected

Good news from the US housing market. Sales of new homes for the month of April totaled 619,000 share units against 511,000 units in the previous survey and the 521,000 units expected by analysts. Staying on the subject of macro data, the Richmond Fed index, indicator of the manufacturing sector prepared by the Federal Reserve Bank of Richmond, has declined from 14 to -1 points. The analysts pointed to a drop much lower at 9 points.

 
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24.05.2016

Germany: ZEW index collapsed in May

New worsening signals from the German economy, after the climb recorded in April The ZEW index, a leading indicator of economic sentiment in the coming months, collapsed to 6.4 points from 11.2 points in April, when he was in recovery.   "The strong growth of the German economy in the first quarter of 2016 seems to have surprised financial market experts. However, investors do not seem to expect that the economic situation will improve at the same pace," said Professor Achim Wambach, President ZEW Institute who added: "the uncertainty about a possible Brexit by the United Kingdom as we approach the referendum that could lead to the exit of Britain by the European Union, preventing a more optimistic view."

 
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