Japan’s Prime Minister Shinzo Abe called on the country's parliament to ratify the Trans-Pacific Partnership (TPP) deal, signed in February, before other states. And Abe stressed the Parliament should approve the TPP treaty before the current session ends on Nov. 30. "We could provide an impetus for the entry of this agreement into force by approving it in parliament faster than other countries," Abe said. He added Japan will help provide momentum to the TPP and help make it a reality by approving it in the Diet (Japanese parliament) ahead of other countries, according to the Kyodo news agency.
UBS said Spain asked Switzerland for help in tax matters on Friday,agency Reuters reported. Similar requests came from France and the Netherlands earlier this year. Last month, however, the Federal Court has given the green light to the delivery of data to the Netherlands for a UBS Dutch client, disavowing the TAF that was opposed in March.
Ford Australia will close its production line in Broadmeadows on Friday, 91 years on, the final Ford Falcon will roll off the production line. On the same day, Ford's rival Holden will close Cruze production in Adelaide, and Ford will shutter its engine plant in Geelong. In the course of the next year, Australia’s three car makers, Toyota too, will shut down completely. In all, more than 5,000 production jobs, plus many more white collar and supplier positions, will be lost. Ford will reportedly continue operations in Australia, with product development, research and parts sales to carry on.
France's industrial production rebounded more than expected in August, figures from the statistical office Insee showed Friday. Industrial output grew 2.1% in August from July, when it fell by revised 0.5%. This was the fastest growth since December 2014, when it advanced 3.7%. Forecast's economists were a moderate 0.6% growth after July's initially estimated decrease of 0.6%. Following three months of declines, which is partially linked to strikes and blockades in May and June, it's a good news for French economy. Likewise, manufacturing output gained 2.2% in August, the biggest since late 2014 and reversed a revised 0.2% drop in July. Output was expected to gain 0.3%. Production for July was revised from 0.3 %. Construction output declined 2.6% after expanding 3.4% a month ago. During three months to August, industrial production dropped 0.5% and manufacturing fell 0.2% from the previous three months.
EasyJet is enduring a very challenging period. The low cost company flew a record 22 million passengers in the three months to Sept. 30, but revenue per seat fell by 8.7% from the same period last year, at constant currency as EasyJet has invested in pricing in order to boost passenger numbers. This included a strong load factor of 93.9%, with passengers benefitting from low fares across its network.
Health insurance premiums will rise, on average, by 4.5% next year in Switzerland. In Ticino, however, the increase will be 5.7%, while in the Grisons 5.4%, as announced by the Swiss Federal Office of Public Health (FOPH) in recent days. The average increase expected for 2017 concerns the so-called standard premium, ie the one for the basic insurance of an adult person with a deductible of CHF 300 and accident cover.
Financial traders can be better than machine, according to research published in Scientific Reports "People with greater sensitivity to interoceptive signals … perform better in laboratory studies of risky decision-making" and a sixth sense, or just a gut feeling, is the best friend for a trader. Researchers from the universities of Cambridge and Sussex in England and Australia’s Queensland University of Technology found that the best traders are aware of their bodies’ signals, even if unconsciously, and use them to make more money.
Credit Suisse was fined $90 million by SEC, admitting wrongdoing after an investigation by U.S. regulators found the bank misrepresented how it determined a performance metric in its wealth management business to investors. Former Credit Suisse executive Rolf Bogli, who didn’t admit or deny the findings, also agreed to settle and pay US$80,000 for his role in the violations.
Abellio, british rail operator and swiss Stadler Rail announced on October 5 to have signed the agreement worth more than £600m (CHF 762 mln) to supply 378 multiple-unit cars for the next East Anglia franchise. In this way all existing trains on the Greater Anglia rail route will be replaced within the next four years.
Theresa May outlined a vision for Britain after Brexit in the speech to Tory conference during its annual convention yesterday. British Prime Minister said the vote for Brexit was a rejection, not just of the European Union, but of an entire social and economic order. “It was about a sense – deep, profound and let’s face it often justified – that many people have today that the world works well for a privileged few, but not for them.
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