News

09.06.2017

UK elections: Uncertain result weighs on Brexit talks

UK Prime Minister Theresa May had called Thursday's snap elections to strengthen her hand in Brussels, but the loss of her Conservative majority has plunged the Brexit process into disarray just over a week before talks are scheduled to begin. The Tories won fewer than 320 seats, short of the 326 needed for a majority in Britain's 650-member House of Commons. Labour, the main opposition party, gained more than 30 seats to top 260.

 
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09.06.2017

US: The House to abolish Wall Street rules

House Republicans voted Thursday to deliver on their promise to repeal Dodd-Frank — the massive set of Wall Street regulations President Barack Obama signed into law after the 2008 financial crisis. House Resolution 10, or the Financial Creating Hope and Opportunity for Investors, Consumers and Entrepreneurs (CHOICE) Act of 2017, passed by a vote of 233-186 in the lower chamber; eleven representatives did not vote.

 
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09.06.2017

Initial jobless claims fall less than expected last week

The number of Americans filing for unemployment aid dropped less than expected in the week ended June 2. The Labour Department reported on Thursday that initial jobless claims fell 10K to 245K last week, following the preceding week's upwardly revised figure of 255K. Meanwhile, market analysts anticipated a bigger decrease to 241K during the reported week. Nevertheless, claims remained below the 300K level for the 118th consecutive week, the longest streak since 1973. The four-week moving average of claims, considered a better measure of the existing labour market trends, rose 2.25K to 242K during the reported week.

 
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09.06.2017

Ticino-Italy tax agreement makes easier work permit for cross-border workers

A new tax agreement between Ticino and Italy will not obliged italian cross-border workers, known as frontalieri, to systematically provide a copy of their police record in order to secure a work or residence permit. The requirement was imposed by the Italian-speaking canton in 2015; now, they will be expected to show any criminal record on a voluntary basis, while the canton will reserve the right to ask for it, as Ticino's government said in a statement.

 
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09.06.2017

Bitcoin ATM presence is growing

Cryptocurrency speculators and investment gurus are having a great time predicting Bitcoin’s future as the popular digital currency’s price continues to break records on a regular basis. A well-informed prediction, a random guess or just wishful thinking, everyone is coming up with a new Bitcoin price forecast. The latest one puts the cryptocurrency’s price at $1 million in the future. Now, with a booming bitcoin economy and several years of growth behind them, physical bitcoin kiosks or “ATMs” may be emerging as the answer. There are already over a thousand around the world, and the new ATM challenger Bitlish announced last week that it wants to open as many as 5,000 more in Europe alone.

 
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09.06.2017

Syngenta sells sugar business to Denmark's company

Swiss agriculture company Syngenta, which is in deal to be bought by China National Chemical Corp., known as ChemChina, announced Friday that it has entered into an agreement to sell global Sugar Beet seeds business to DLF Seeds. Financial terms of the transaction are not disclosed. The transaction is subject to customary approval requirements and expected to close by the end of the third quarter of 2017. DLF Seeds is a seed company dealing in forage and turf seeds, and other crops.

 
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08.06.2017

Scale-up: UK leads the ranking despite Brexit

Europe is home to approximately 4,200 fast growing, ICT scale-ups in 45 countries, collectively raising about $58 billion in funding. And the UK is far and away the leader, with 34% of the scale-ups - 1,412 - and capital raised 35% of the total available to scale-ups in Europe, followed by Germany, France and Sweden at a distance. This is what emerged from the latest SEP Monitor on Scale-up Europe presented by Mind the Bridge and SEP - Start-up Europe Partnership - at the Start-Up Europe Awards in Brussels.

 
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08.06.2017

ECB confirms its policy, extends QE until year end

The European Central Bank (ECB) left its benchmark interest rate unchanged on Thursday and dropped any reference to a future rate cut. In a statement it said it expected interest rates to "remain at present levels for an extended period of time," but added that it would be ready to extend its quantitative easing (QE) program if needed. 

 
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08.06.2017

Brazil will drive Fintech revolution in the next ten years

Brazil has seen a recent boom in fintech with startups providing digital, low-interest banking solutions. These innovative alternatives are in turn causing big banks to reevaluate their own services. In Goldman Sachs’ latest report to the New York Times, Brazil’s fintech leaders are revolutionizing the traditional banking sector. Entitled “Fintech Brazil’s Moment,” the 45-page research report estimates that the more than 200 financial technology companies in Brazil should generate a potential revenue pool of about $24 billion over the next 10 years. Payments, lending and personal finance are three promising segments, as is insurance, the report found.

 
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08.06.2017

ETH Zurich and EPFL Lausanne in the Top 100 QS world rankings

MIT has been ranked as the top university in the world in the latest QS World University Rankings. This marks the sixth straight year in which the Institute has been ranked in the No. 1 position. Stanford University came in at second, while prestigious Ivy League university Harvard came in third. MIT earned a perfect overall score of 100. United Kingdom heavyweights Cambridge, Oxford, UCL and the Imperial College of London all made it inside the top 10.

 
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