News

03.07.2017

Bank of England staff vote for strike over pay

Bank of England staff have voted to hold their first strike in more than 50 years in a push for higher pay, a union said on Monday, adding to pressure for an end to tight controls on public sector wages in Britain. Unite, Britain's biggest union, said maintenance and security staff at the 323-year-old institution would strike for four days from July 31 after they were awarded a 1 percent pay rise: “Unite has informed the Bank of England that its members working in the maintenance, parlours and security departments will be taking four days of strike action on July 31, August 1, 2 and 3 2017,” it said in a statement. That period coincides with the bank's next monetary policy meeting.

 
Read More
03.07.2017

Ignorant Central Bankers

Central bankers do not know what they are doing.  The reason for this is that they are experimenting with the global economy. There has never been a similar situation in history to the one now unfolding because interest rates have never been so low or even negative and never have central banks resorted to QE as they have done in the last decade. They do not know what is going to happen if they continue the policies followed hitherto or if they try to “normalize” markets by reducing their balances and raising interest rates to “normal” levels. Another novelty is the huge sovereign debt that has been amassed since 2008.

 
Read More
03.07.2017

Richemont sells Chinese luxury brand Shanghai Tang

Cartier owner Richemont has sold its Chinese luxury brand Shanghai Tang to Cassia Investments, the Consumer-focused Private Equity fund, in partnership with Italian fashion entrepreneur, Alessandro Bastagli, the company said on Monday. No value for the deal was given but Richemont, which also owns jewellers Cartier, Van Cleef & Arpels and Piaget, but "The transaction will have no material impact on Richemont's balance sheet, cash flow or results for the year ending 31 March 2018," Richemont said in a statement. The Swiss luxury group first acquired a stake in the retailer in 1998 before taking full ownership a decade later.

 
Read More
03.07.2017

Global debt now surges at $28000 for each person

Global debt levels have surged to a record $217 trillion in the first quarter of the year. This is 327% of the world's annual economic output (GDP), reports the Institute of International Finance (IIF). It has grown by $75 trillion since the 2007-08 financial crisis reaching US$28,900 for every man, woman and child in the world The surging debt was driven by emerging economies, which have increased borrowing by $3 trillion to $56 trillion. This amounts to 218 percent of their combined economic output, five percentage points greater year on year.

 
Read More
03.07.2017

Summer rotation expected as Growth and Defensives handover to Cyclicals and Financials

Since reflation trades topped out between December and February, Cyclical sectors and Financials have underperformed. During this period, growth stocks and especially Big Technology have widely outperformed, followed by Consumer Discretionary, also a growth sector, as well as Defensive sectors (Staples, Healthcare, Utilities). We believe that these rotations should reverse during the Summer, as Growth and Defensives handover to Financials and Cyclical and give life to a second leg up for reflation assets towards early 2018.

 
Read More
30.06.2017

US: economy grows at stronger-than-expected pace in Q1

The US economy expanded at a stronger-than-initially-expected pace in the March quarter amid higher consumer spending. The Commerce Department reported on Thursday that the domestic economy grew at an annualised pace of 1.4% in the Q1 of 2017, following the preceding quarter's expansion of 2.1% and surpassing the prior estimate of 1.2% growth.

 
Read More
30.06.2017

Swiss banks: less firms in 2016, profits drastically dropped

Banks in Switzerland saw their profits nearly halve to CHF 7.9 billion in 2016 amid continuing global pressure on their famed secrecy walls. Surprisingly, the overall customer deposits, domestic as well as foreign, rose in Swiss banks. The staff count, however, was down, as the number of banks, which declined again last year, from 266 to 261, for the fourth year in a row. While two new banks came up seven moved out from the list, as per the annual statistics released today by Zurich-based Swiss National Bank (SNB), the country's central banking authority.

 
Read More
30.06.2017

Swiss KOF barometer: June suggests growth in the coming months

In June 2017, the KOF Economic Barometer rises by 3.5 points (from revised 102.0 in May) to 105.5. It thus largely recovers from the substantial decrease in the previous month. Accordingly, the short-term outlook for the Swiss economy suggests above-average growth rates.

 
Read More
30.06.2017

Nobel Prize Shiller warning: stocks are too high

Nobel Prize winning-economist Robert Shiller says the U.S. equities markets are "quite high" currently but may go even higher in coming months, and that's why he's not exiting the market completely.  He was reffering to the valuations measured by the cyclically adjusted price-earnings (or CAPE) ratio he developed with John Campbell. In fact, the only times they have been higher were in 1929 and 2000, the Yale professor said. Both years saw historic market crashes. The metric compares current prices to average earnings over the past 10 years adjusted for inflation.

 
Read More
30.06.2017

China Central Bank exploring blockchain technology

China’s central bank, the People’s Bank of China (PBoC), is working on a prototype of a cryptocurrency that it could end up in circulation in the near future. Hovewer, there is currently no timetable for this, and the bank seems to be proceeding cautiously. It would be introduced alongside the China’s primary currency the renminbi. China will be simulating possible scenarios and running mock transactions using the cryptocurrency with some commercial Chinese banks. 

 
Read More




Events


Semptember 2015
  • 22
    Jan

    The caspian week conference is a meeting point of visionaries, market leaders and experts with the f

  • 22
    Jan

    The climate transition creates opportunities and risks, and financial institutions and corporations

  • 22
    Jan

    Seit über 30 Jahren ist die ZfU International Business School Gastgeber für die angesehensten Inve

  • 30
    Jan

    Over 150 Fintechs CEOs from all over the world will be in both panels & interviews and on this stage

  • 31
    Jan

    From 2018 onwards, Switzerland’s financial fair will only be open to professional investors. This

See All

newsletter

Updates and news from MarketPlus