Britain aims to stay in a good relationship with the European Union and continue cooperation on security and defence issues. What is your own opinion, will Britain be able to maintain a good partnership with the EU? This is obviously the key question at the moment. We all hope that relations between Britain, the European Union and, of course, individual EU countries will remain cordial, though the negotiations are likely to be extremely difficult and complex, while there is a chance of tensions being raised and disagreements being voiced strongly at various points in time. What is important is that once negotiations are finished, we have good trading arrangements between the UK on the one side and the 27 EU countries on the other. At this point in time, it is impossible to know exactly what these trading arrangements are going to be.
Swiss bank UBS is weighing up whether to move banking jobs in London to Frankfurt, Madrid or Amsterdam to cope with Britain's planned departure from the European Union, Chief Executive Sergio Ermotti said in an interview with CNBC. With around 5,000 employees based in London, Switzerland’s largest lender has been preparing contingency plans even before British citizens, in a referendum, voted to leave the EU in June 2016. "I think Frankfurt is a location of choice. There are different, other locations that could come into consideration," Ermotti said in the interview broadcast on Monday, according to a transcript.
Sweden is the Best Country to be an Immigrant, according to new analysis from U.S. News & World Report. Canada, Switzerland, Australia and Germany round out the top five. Part of the Best Countries report, the new ranking assesses the international perceptions of 80 countries, their immigration policies and economic data. Eric Gertler, co-chairman of U.S. News and the New York Daily News, said that the experience of creating the best countries ranking showed them that many people view immigration as the most important issue in the world.
Investors currently face great difficulty in trying to limit risk while desperately searching for higher yields. ZIRP and NIRP have made bonds uninteresting even as central banks continue buying up what is available on the market with the result that yields are kept artificially low. Central bank acquisitions on the stock market have pushed equity prices so high that new records have been set. David Stockman is correct in asserting that price discovery has been eliminated.
Chief negotiator Guy Verhofstadt and leaders of four of the parliament's main groups wrote in a joint letter to newspapers that Britain's plans for the three million EU citizens expecting to remain in the U.K. post-Brexit "fall short" of what they are entitled to and what U.K. nationals are being offered in the EU. EU Parliamentarian Guy Verhofstadt has called proposals put forward by the UK government a "damp squib" which would leave millions of Europeans with "second-class citizenship".
In a bold experiment in voluntary taxation, the Norwegian government launched an initiative in June that allowed those who thought their taxes to be too low to make contributions to the state. “The tax scheme was set up to allow those who want to pay more taxes to do so in a simple and straightforward way,” Finance Minister Siv Jensen said in a comment emailed to Bloomberg reporters. “If anyone thinks the tax level is too low, they now have the chance to pay more.”
The STOXX Supersector Europe 600 Banks Index, has been in the last ten years, the worst performer index among he 19 European Supersectors group. Since January 2007 it had performed -63,23%. In the last ten years this Supersector developed three intermediate uptrends, and the las one started one year ago. Looking to the weekly chart from 2006, we can note a first short but strong uptrend in 2009 (1), a second longer uptrend in the period 2012-2015 (2), and a last one started in mid 2016 (3).
The Swiss National Bank's foreign-exchange reserves, accumulated on a massive scale since 2012, dipped slightly last month to 693.5 billion Swiss francs ($721 billion), the SNB said Friday. The figures suggest the central bank has pulled back on its currency intervention efforts. It was the second successive month, despite the central bank’s continued complaints about the effects of an “overvalued” franc.
The US private sector created less than expected jobs last month, suggesting that job creation started to cool after strong gains registered earlier. The ADP National Employment Report released on Thursday showed companies added 158K new jobs to the economy in June, following the preceding month's downwardly revised figure of 230K and surpassing analysts' expectations for an 185K increase.
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