On August 1, 2017, the preeminent cryptocurrency is set to break in two: at 12:20 UTC a new cryptocurrency called Bitcoin Cash will be launched. It's based upon Bitmain’s UAHF proposal which was initially created as a contingency plan to thwart the efforts of the UASF, which now looks likely to activate without incident. The split, called a hard fork, will result in two separate and distinct cryptocurrencies: Bitcoin Cash and Bitcoin Core. It also has the potential to create billions of dollars worth of new cryptocurrency out of thin air.
The eurozone's unemployment rate has fallen to its lowest level in more than eight years, but the annual rate of inflation is unchanged, new data showed Monday, highlighting the challenge at the heart of the European Central Bank's decision on dialing down its stimulus programs. The European Union's statistics agency said the proportion of workers without jobs across the 19 countries that use the euro fell to 9.1% in June from 9.2% in May, reaching its lowest level since February 2009. But consumer prices were just 1.3% higher in July than a year earlier, as the rate of inflation was unchanged, at its lowest level in 2017.
Swiss dairy group Emmi is selling its 24% stake in Italian cheese specialist Venchiaredo to focus on markets and sectors with "growth potential". Emmi, which acquired the holding in 2010, is looking to focus its Italian business on desserts, cheese exports from Switzerland and its 25% stake in cheese trader Ambrosi, according to a statement.
HSBC, Europe's largest bank, reported a set of financial results that beat estimates in the first half of 2017 and announced a $2 billion share buyback on the back of a growing capital base. HSBC's profits rose 5% in the first half of the year after a turbulent 2016. The results were better than expected with Europe's largest bank reporting that its pre-tax profit for the first six months to June came in at $10.2bn (£7.8bn), compared with $9.7bn (£7.4bn) for the same period last year, beating Bloomberg analysts' estimates, which had averaged out at a $4.6bn forecast.
Switzerland's central bank on Monday reported a net profit of 1.2 billion Swiss francs for the first half of 2017 as big foreign exchange losses weighed on earnings from its foreign investments. The Swiss National Bank made a profit of 100 million francs from its foreign currency positions, as exchange related losses of 11.8 billion francs almost wiped out the earnings from bonds and shares it holds. The institution's foreign currency investments have ballooned to 728 billion francs, 12% larger than the entire Swiss economy.
We expect some consolidation into August for Equities. Indeed, Risk/Reward seems momentarily stretched on the S&P500 Index, while the EuroStoxx 600 could be eying a second leg down into August. Following that, these trends should resume up possibly from late August / early September into October.
On Thursday, the US Dollar was driven by bulls that pushed the given currency through the 100– and 55-hour SMAs and the monthly PP. Nevertheless, a resistance cluster formed by the weekly PP and the 200-hour SMA proved to be a solid upper limit that reversed the rate down to a relatively similar level as on Thursday morning. The failure to reach the upper boundary of the symmetrical triangle indicates that this pattern may not be strong enough any longer to confine the pair in its bounds. Thus, it is quite likely that the current momentum downwards is to persist until the weekly S1 at 110.48, possibly. Meanwhile, the upper limit could be the 100-hour SMA and the monthly PP or in case of solid upside risks resulting from US fundamentals —even the aforementioned 200-hour SMA circa 111.70.
Amazon's second-quarter report fell well short of Wall Street's expectations. The company's earnings missed analysts' forecasts by more than a dollar a share. It also offered a disappointing outlook for the third quarter. The Seattle tech giant posted net income of $197 million in the second quarter, or 40 cents per diluted share, on revenue of $38 billion. A year prior, the company reported earnings of $1.78 per share on revenue of $30.4 billion. Wall Street was looking for earnings of $1.42 per share on revenue of $37.2 billion. "Our teams remain heads-down and focused on customers," CEO Jeff Bezos said in a statement.
Dealing a serious blow to President Donald Trump's agenda, the Senate early Friday rejected a measure to repeal parts of former President Barack Obama's health care law after a night of high suspense in the U.S. Capitol. Senate Republicans failed to pass their pared-down Obamacare repeal bill on vote of 49-51 in a dramatic late night vote that caps a months-long process of trying to fulfill a seven-year promise to repeal the Affordable Care Act.
Two years after two historic global agreements were established, leaders and other change agents in
Im September haben die Schweizer Stimmbürger die „Altersreform 2020“ des Bundesrates abgelehnt.
The 2017 symposium, with the theme "Successfully crossing borders", will have a strong focus on the
Dieser Event ist ausschliesslich für Pensionskassenvertreter (Stiftungsräte, CEOs, Anlageverantwor
Nach Jahren des geldpolitischen Experimentierens sind die Finanzmärkte so verzerrt wie selten zuvor
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