News

03.10.2017

Safra Sarasin to buy Bank Hapoalim

Swiss private bank J. Safra Sarasin Group has agreed to buy Bank Hapoalim's private banking businesses in Luxembourg and Switzerland, with offices in Zurich and Luxembourg, the Swiss group said on Tuesday. "The agreement covers qualifying clients and their relationship management teams who are focused on private banking clients across Israel and Europe," it added in a statement. It gave no purchase price for the deal, which it said was set to wrap up in the first half of 2018 pending regulatory approval.

 
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03.10.2017

Gun stocks jump after Las Vegas mass shooting

In the wake of Sunday night's terrible shooting at the Mandalay Bay Hotel in Las Vegas, gun makers are certain to come in for searing public criticism. They're also due for something else: a jump in stock prices. Yet gun stocks began climbing as soon as the market opened Monday, with shares of Sturm Ruger rising 4.7% in early trading. American Outdoor Brands, formally known as Smith & Wesson, was also up 4.5%.

 
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02.10.2017

Northern Trust closes the deal, buys UBS Fund Servicing Units

Northern Trust, an asset manager established in Chicago in 1889, has closed its acquisition of UBS Asset Management's fund administration servicing units in Luxembourg and Switzerland, further underpinning its growth strategy for Continental Europe. The acquisition positions Northern Trust as a leading administrator by assets in Switzerland and a top 10 asset servicing provider in Luxembourg. Northern Trust welcomes more than 200 new employees and establishes a new European office in Basel, Switzerland, as a result of the acquisition.

 
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02.10.2017

Puerto Rico could fall into an economic abyss after Hurricane Maria

Hurricane Maria was somewhat less of a weather monster than the two big storms that preceded it. Harvey dumped record amounts of rain over parts of Texas, and Irma’s tropical-storm force winds covered an area wider than the Florida peninsula. Hurricane Maria could cost Puerto Rico $45 billion to $95 billion in damage, a devastating blow to the island's already ailing economy. The high end of the range, released Thursday by Moody's Analytics, represents almost an entire year's economic output for Puerto Rico. The estimate underscores "why officials are now suggesting that its economy may be set back decades," Adam Kamins, a senior economist at the firm, wrote in an analysis.

 
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02.10.2017

World Stress Ranking: Stuttgart the most peaceful city, Bern in the Top Ten

If peace of mind means strolling home past trees and flowers, a fat bank balance at your disposal, and with a secure job to head to the next day, then the best place to find it is Germany. A new study, done by Zipjet, a home delivered laundry service, has revealed the world's most and least stressful cities of 2017, based on factors including traffic levels, public transport, percentage of green spaces, financial status of citizens including debt levels, physical and mental health, and the hours of sunlight the city gets per year.

 
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02.10.2017

Monarch's collapse leaves 110,000 passengers stranded

UK low cost airline and holiday company Monarch Airlines has collapsed and been placed in administration leaving 110,000 customers stranded abroad. The accountants KPMG announced in the early hours of Monday that Monarch, Britain’s longest-surviving airline, had been placed into administration and that all further flights from the UK had been cancelled and would not be rescheduled.

 
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02.10.2017

US Fed fined HSBC over unsafe forex trades

HSBC has been fined $175 million on Friday for 'unsafe and unsound' practices in its currency trading business by Fed, as Reuters reported. HSBC failed to monitor chat rooms where traders swapped information about investment positions, the U.S. central bank said, echoing findings by other regulators investigating the $5 trillion-a-day foreign exchange or FX market.

 
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02.10.2017

Stalking on the Russel 2000 Index: what’s next?

This summer I wrote an article about the suggestion of stalking the small cap stocks Russel 2000 Index (1). Just like a cat stalks its prey looking for the best possible moment to pounce, so a trader can stalk an entry to get the best price for entry. The reason was because on this Index it is present a not so common pattern: the “orthodox broadening formation” (2). This kind of pattern was present also on the Dow Jones Industrial Index, but it was luckily negated (3). Last week we had a potential and positive sign that also on this Index the pattern could be negated. We have several signs of strength, but we are still in the early stages of potential medium-term growth.

 
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29.09.2017

Do it yourself? Ikea can work for you by acquiring TaskRabbit

Ikea, the Swedish furniture retail giant, has bought TaskRabbit, a San Francisco startup that lets people hire workers to do short-term odd jobs—like setting up Ikea furniture, fixing a leaky faucet, or setting up for a party. Ikea said it tested TaskRabbit in its stores in London last year and plans to roll out the service in U.S. stores and more U.K. locations. More countries may be added later. Before the TaskRabbit deal, certain Ikea stores already provided some independent workers to assemble goods.

 
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29.09.2017

Dieselgate: VW costs reach $30 bn on US recalls

Volkswagen on Friday said it was setting aside another 2.5 billion euros to deal with the fallout from the "dieselgate" scandal in the United States as its efforts to recall tainted cars there proved to be more "complex" than expected. The latest provisions bring the total sum set aside by VW to deal with fines and costs over the diesel scandal to €25.1bn.

 
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