The United States remains the country with the highest annual military expenditure in the world, according to new figures from the Stockholm International Peace Research Institute (SIPRI). US military spending grew by 1.7 per cent between 2015 and 2016 to $611 billion, for the first time in six years. Military expenditure by China, which was the second largest spender in 2016, increased by 5.4 per cent to $215 billion, a much lower rate of growth than in previous years.
Sampo Terho, a former member of the European Parliament and one of the top figures of the new populist and Eurosceptic party called Peerussuomalaiset (the True Finns), is pushing for Finland’s exit from the Eurozone, an outcome he considers inevitable. Terho kicked off his party leadership campaign on Friday, telling a press conference that it was hard for Finland to keep its exports competitive because of its euro membership. "The only way to sustain our competitiveness is internal devaluation, which we carried out," he said, referring to a hard-fought labor reform that sparked anti-government demonstrations and strikes in 2015. "The other option, if looking forward to the 2020s, 2030s and 2040s, is to return to our own currency ... When we take this long look, that option seems possible, even likely," Terho said.
Swiss pharmaceuticals group Novartis says net income fell 15 percent in the first quarter, as it continued to adjust to generic competition for its Gleevec leukemia drug and stopped work on a hoped-for treatment for heart failure. The Basel-based company said net income dropped to $1.7 billion in the quarter, compared to $2.01 in the year-earlier period. It cited a $200 million charge to discontinue RLX030, which failed to pass tests in trials as a treatment for acute heart failure.
Eric Olsen, CEO of the Swiss-French giant LafargeHolcim, has stepped down following an internal investigation into one of the company’s manufacturing plants in Syria. In 2013 and 2014, one of world's largest cement company allegedly paid armed groups protection money to keep its Jalabiya plant open while the country’s civil war intensified. “While I was absolutely not involved in, nor even aware of, any wrongdoing I believe my departure will contribute to bringing back serenity to a company that has been exposed for months on this case,” Olsen said on Monday, who will leave on July 15, two years after becoming chief executive and taking responsibility for implementing the €41bn merger between the French company Lafarge and its Swiss rival Holcim in 2015.
Swiss Economic Minister Johann Schneider-Ammann had strong words for Credit Suisse bonus. Asked over the issue on Sunday by Zentralschweiz am Sonntag, he said that so-called fat-cat salaries for top bankers are stupid and divisive. The minister, part of the nation’s governing seven-member cabinet, was commenting about payouts to senior managers of Switzerland’s second-largest bank, Credit Suisse.
The Swiss National Bank stands ready to defend the franc with interest-rate cuts and market interventions if investors pile into the haven currency in response to the French elections, said SNB President Thomas Jordan said in an interview with Bloomberg Television. “We hope that a reasonable candidate can win, somebody who is in favor of free markets, but we cannot exclude that there will be more pressure on the Swiss franc,” Jordan explained in Washington, on the sidelines of the International Monetary Fund spring meetings. “But as you know we also have our instruments to react to such a situation.”
Emmanuel Macron, the 39-year-old former banker who quit the Socialists for a remarkable tilt for France's presidency, has won the country's first-round vote, finishing just ahead of far-right candidate Marine Le Pen. The French Interior Ministry's final figures for the vote showed Macron winning 23.75 per cent of the vote, with Le Pen on 21.5. Francois Fillon for the Republicans, the party of the Gaullist establishment, came third with 19.9 per cent of the vote, just ahead of far-left firebrand Jean-Luc Melenchon with 19.6 per cent.
Only a little more than half a year is remaining until implementation of PRIIPs and MiFID II, and th
Lo Shipbrokers and Shipagents Dinner è uno degli eventi più importanti nel panorama mondiale della
Within the framework of this presentation, Viktor Pershikov, MFTA, (a leading technical analyst in R
One of the biggest conferences in Switzerland, which brings together the private equity, venture cap
Within the framework of this presentation, Viktor Pershikov, MFTA (a leading technical analyst in Ru
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