The European Union faces a 20-billion-euro hole in its annual budget due to Britain’s withdrawal and rising costs in issues such as defense, EU Budget Commissioner Guenther Oettinger said Wednesday. Oettinger warned that the U.K.’s departure, expected in 2019, will blow a hole of €9 billion to €12 billion in the EU’s roughly €150 billion annual budget. “We won’t have the UK with us any more, but they were net payers despite the Thatcher rebate, so we will have a gap of 10 to 11 billion euros a year,” Oettinger told a press conference as he unveiled the commission’s proposals for the budget.
This Newsletter has predicted a stock market correction at the least if not a crash in the near future and favors gold as an investment. What has happened is that the FAANG stocks continue to ride high while the rest of the market generally limps along. The gold price suffers a setback every time it strikes northwards. If that was not enough to make one suspicious, inflation remains low despite huge injections of capital into the economy.
Talks about a new treaty governing the European Union’s relationship with Switzerland have collapsed over the same issue bedevilling Brexit — the European Court of Justice. Switzerland, which is not a member of the EU, has more than 100 bilateral agreements with Brussels overseeing ties including transport, trade and education, but the EU is demanding a single framework treaty. A new treaty could clear the way for closer ties in fields including financial services and power markets, but fear that any deal might upset Swiss voters under the country's system of direct democracy has put the project on hold.
There is a new breed of bond in the fixed income world. It’s different, it’s bold, it’s the so-called green bond market. As the drive towards environmental, social and governance (ESG) investing continues to gather pace, policy makers and investors alike are waking up to the importance – and benefits – of green bond investing.
A measure of Swiss household spending trends rose modestly in May, after the reading for the previous month was revised down sharply, suggesting slightly below-average growth in private consumption during the second quarter, survey data from the UBS investment bank showed Wednesday. The UBS consumption indicator climbed to 1.39 points from 1.34 in April, which was revised from 1.48. This matches the UBS CIO consumption growth forecast of 1.3 percent for this year, the bank said.
China's economy continued to improve in the second quarter, with corporate profits rising and hiring up, a private survey showed, but it suggested the Asian giant may have to brace for tougher times ahead even though firms have been able to weather a tighter financing environment. To provide a more accurate read on China’s economy, Leland Miller and his team at China Beige Book International (CBB) interview thousands of companies and hundreds of bankers on the ground in China each quarter. They collect data and perform in-depth interviews with Chinese executives. The quarterly survey showed that while the property sector slowed, manufacturing improved further and the retail and services industries bounced back after a difficult first quarter.
Ransomware known as Petya seems to have re-emerged to affect computer systems across Europe, causing issues primarily in Ukraine, Russia, England and India, a Swiss government information technology agency said on Tuesday. "There have been indications of late that Petya is in circulation again, exploiting the SMB (Server Message Block) vulnerability," the Swiss Reporting and Analysis Centre for Information Assurance (MELANI) said in an e-mail. It said it had no information that Swiss companies had been impacted, but said it was following the situation. The Petya virus was blamed for disrupting systems in 2016.
Switzerland's financial markets authority said Friday that it has taken action in two separate cases of insider trading and market manipulation, seizing millions of Swiss francs (dollars) of illegal profits and banning three traders from the industry. The authority, FINMA, said 1.4 million francs in ill-gotten profits were seized from a former corporate board member who "repeatedly and systematically flouted the ban on using non-public information" to trade in shares of premier Swiss companies between 2013 and 2016.
Google has been fined a record €2.4 billion ($2.7 billion) after EU antitrust regulators concluded the first stage of their three-pronged probe into the world's most popular search engine. The fine, which targets the company's shopping business, is the largest doled out by Brussels for a monopoly abuse case and came after a seven-year long investigation prompted by scores of complaints from rivals such as U.S. consumer review website Yelp, TripAdvisor, UK price comparison site Foundem, News Corp and lobbying group FairSearch.
The price of gold fell to a multiweek low on Monday after a trader made a grave mistake. Spot gold fell around 1% Monday morning to trade as low as $1,236.46, which marks the lowest level the commodity has seen since May 17, Bloomberg reported. U.S. gold futures also lost nearly 1 percent to trade at $1,245.40 an ounce. The decline in gold is attributed to a large market order of 18,500 lots of gold, which represents 1.85 million ounces. This was likely a mistake, or a "fat finger" trade, as the order is bigger than anything seen at the peak of domestic political turmoil and the surprising outcome from the Brexit vote.
Cet événement, organisé par Business and Professional Women (BPW) Switzerland, le magazine L'Agef
La relazione con le banche, le aspettative delle parti e le problematiche pratiche
Trust, fondazioni e altri istituti di pianificazione
Die Investora Zürich bringt das Top-Management von börsenkotierten Schweizer Firmen mit Small- und
Dieser Intensivkurs bietet Ihnen praxisorientierten Uberblick der modernen konzepte, die Sie als ins
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