News

27.02.2017

Sanofi and Lonza: joint-venture will build $285 mln biologics facility in Switzerland

French drugmaker Sanofi and Swiss manufacturer Lonza, a supplier to the pharmaceutical, healthcare and life-science industries, announced Monday that they have entered into a strategic partnership to establish a large-scale biologics production facility in Switzerland. The initial investment will be around 290 million Swiss francs (€270 million), to be split equally between each company. Pending regulatory approvals, the facility, through a 50-50 joint venture, will be located in Visp, Switzerland, Sanofi and Lonza said in a joint statement. The initial phase of the facility will commence construction in 2017, it is expected to be fully operational by 2020.

 
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27.02.2017

How high is high? (by W. Snyder)

“Buy low, sell high” is what investors would like to do, but many “Sell low, buy high”, which is what they should not do. This Newsletter recently recommended selling as opposed to buying. The last week has seen even higher highs in the US markets.

 
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27.02.2017

Trading techniques: the best strategies by John Person - Combine profitable tools of technical analysis

This is the final article in the four-part series that combines person-pivot system with other indicators and a concrete bullish candlestick pattern called High Close Doji (HCD). The use of the right trading tools, the pursuing of a sensible trading methodology and discipline and emotional balance are of crucial importance. Under these conditions, John Persons Pivots and his trading methodology have proven their worth in the past. In this article we wish to go into the depth of the strategy and look at a couple of setups and triggers, where our main focus is on the high-Close Doji pattern (see box). The original rules are: is a doji (closing- and opening-price are close to each other) after a price-drop formed, then indecision in the market is signaled. The momentum changes for the better when the price closes within three candles on the high of the Doji.

 
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24.02.2017

Swedish people have a problem: bugdet surplus due to overpaid taxes

Sweden’s government has an unusual complaint, it is collecting too much tax. With interest rates in the country at -0.5%, holding cash in bank accounts and other savings vessels provides little to no return and in many cases actually costs people money. According to data released by the government on Wednesday, Sweden ended 2016 with a budget surplus of 85 billion kroner ($9.5 billion), and about half of that was due to individuals and businesses paying more tax than they needed to as a means of actually making money. "The development of Sweden's central government finances is still affected by excess deposits in tax accounts," a report from the Swedish National Debt Office said.

 
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24.02.2017

Switzerland: cross-border workers rose again

The number of cross-border workers commuting to Switzerland for jobs has risen by more than a quarter since 2011, the Swiss statistics office (BFS) said on Thursday. At the end of 2016, 318,500 cross-border workers were active in Switzerland, an increase of 11,300 over the previous year. Lake Geneva (37.2%), northwest Switzerland (22.8%) and the Italian-speaking canton of Ticino (20.2%) remain top destinations for commuters from across the border. In the same five-year period the total number of working people in Switzerland (including residents and non-residents) rose by 7.8%, to 5.1 million. 

 
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24.02.2017

China chooses Sichuan as bitcoin mining capital

Sichuan, a province of China, is transforming into a global Bitcoin mining capital primarily due to its cheap electricity, low population density and cold climate. China’s southwestern provinces, such as Sichuan, are seeing an exponential growth of Bitcoin mining facilities and centers as companies continue to search for mountainous regions with high altitude to cool down mining equipment without allocating additional resources. Rows of mining equipment operated continuously over time leads to mounting operational costs. Apart from the space, the cost includes electricity charges for running the mining hardware and the air conditioning units to maintain optimal conditions within the mining centers. If the costs are too high, it will eat into the margins of the Bitcoin miners, rendering the whole operation ineffective.

 
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24.02.2017

The US Justice to check Credit Suisse over tax cheats

Swiss banking organization Credit Suisse is under investigation by the Internal Revenue Service (IRS) for helping Americans living in Israel or with Israeli citizenship to evade taxes, the Wall Street Journal reported Thursday. Less than three years after Credit Suisse Group paid billions and pleaded guilty to aiding tax evasion through its desk serving US clients. The investigation focuses on the bank’s Israeli desk, which has hundreds of clients. The US Justice Department in July 2014 discovered US professor Dan Horsky, a dual Israeli-American citizen, was potentially hiding money overseas in his Credit Suisse accounts managed by the bank’s Israel desk. The dual citizen cooperated with the government, gathering recordings and other evidence that firmly placed the bank as a major funnel through which money held by American citizens was being hidden. The culprit received a seven-month sentence in prison.

 
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24.02.2017

Brexit: EU-trained doctors could leave UK

Four in 10 European doctors are considering leaving Britain following the Brexit vote, new research suggests. A British Medical Association (BMA) survey found that 42% are thinking of quitting the UK, with a further 23% still unsure if they will stay. The BMA warned it could spell “disaster” as the National Health Service (NHS) was already facing “crippling staff shortages”.  Among NHS staff in England, 59,796 are from the European Union, according to NHS Digital, including 10,267 doctors – around 6.6% of the UK medical workforce. “Diseases know no country borders, and medicine is an international profession, with global co-operation in research, drug development, standards of patient care, and free movement of doctors around the world.” 

 
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24.02.2017

Technical analysis : EUR/USD attempts to break resistance

The Euro continued to book gains against the US Dollar during the early hours of Friday's trading session, as the currency exchange rate attempted to break through the resistance put up by the 55-day SMA, which was located at 1.0593. The pair already attempted to move higher during Thursday's trading. However, it failed to pass the SMA. Due to that and the fact that the weekly PP is located just above the SMA at 1.0604, it is most likely that the currency pair will fail once more and retreat lower by the end of Friday's trading session. 

 
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23.02.2017

Google to launch a new filter against toxic speech online

Google and Jigsaw have launched a new tool that uses artificial intelligence to filter ‘toxic’ comments online. The tool, known as Perspective, has been designed to crack down on online harassment by letting creators and readers identify abusive comments or comments that are likely to make ‘someone leave a conversation’.  Google’s freely available software is being tested by a range of news organisations, including The New York Times, The Guardian and The Economist, as a way to help simplify the jobs of humans reviewing comments on their stories.“News organizations want to encourage engagement and discussion around their content but find that sorting through millions of comments to find those that are trolling or abusive takes a lot of money, labor, and time. As a result, many sites have shut down comments altogether. But they tell us that isn’t the solution they want. We think technology can help.” said Jared Cohen, president of Jigsaw, the Google social incubator that built the tool.

 
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