In Switzerland, one in four people between those entitled to social support, resigns. This was revealed by a study of the High Bernese specialized school reported in the Rsi. The phenomenon, which also affects the Ticino, does not necessarily translate into savings for cantonal cashes.
The Swiss people want more and more the 1000-franc note. In May they have been put into circulation with a value of 45 billion, twice 10 years ago. The director of the Cantonal Bank of Geneva, interviewed by Matin Dimanche, links the phenomenon to the fears associated with the introduction of negative interest rates on deposits. "Rather than seeing their savings erode, more and more customers prefer to dispose of their assets in bank notes that are kept in a safe or at home," explains Blaise Goetschin.
Adecco in the first half has made a profit of 335 million euro (363.5 million francs), down 1% compared to the same period in 2015. Revenues for the world number one of temporary work are advanced by 3% , to 11 billion euro.
With constant exchange rates, the increase in sales is 5%, according to today’s statement from the Zurich group.
The EBITA Operating profit – before deducting interest, taxes, depreciation and amortization of goodwill (goodwill) – was 510 million euro, an increase of 3%. In the second quarter, net income instead advanced by 7% to 190 million euro, and the turnover of 2%, to 5.7 billion. The organic growth was 4%, similar to that of the first quarter.
According Tidjane Thiam, Credit Suisse CEO, the bank does not need a further capital increase. In an interview given to the agency Bloomberg, the manager claims that, in the light of most of the scenarios, the institute does not need an additional injection of money.
Meanwhile, the bank continues with the restructuring; the process, which will involve the sacrifice of 6,000 jobs, calls for strengthening of asset management at the expense of the investment bank.
Switzerland has always been one of the safest havens in the financial field, as evidenced by its public bonds, which until the expiry of 30 years still offer negative returns. The exchange rate between the Swiss franc and euro is practically to the beginning of the year, being rocked in recent months in a fairly narrow range (1.07 to 1.11).
The post-Brexit statement was only the second time the SNB has officially confirmed intervention to weaken the Swiss franc since January 2015. The first happened when Greece announced a referendum on its bail-out by European partners.
The Swiss tourism industry saw a drop in the first half: the hotel industry registered 16.8 million overnight stays, with a 1.2% decline compared to the same period last year. The decrease was due to foreign guests (-2.5%), while domestic demand has held (+ 0.5%).
According to figures published today by the Federal Statistical Office (FSO) at the regional level, the Ticino has a low step back (-0.1% to 916’190 nights), an improvement compared to the same period of 2015 (-5, 2%).
In Switzerland there are more than six million credit cards, nevertheless the cash continues to be the favored payment method in the country. However, they are very popular in Ticino: according to a survey, 38% prefers to banknotes and coins when go shopping.
However, about half of the Ticino and the German-speaking Swiss continues to prefer cash to credit and debit cards. In Romandie the majority prefer to pay with a debit card rather than with cash or credit card, according to the results of the survey conducted by the GfK market research.
The Swiss National Bank could return to action in the foreign exchange market. This was stated by President Thomas Jordan during a conference on the Indonesian island of Bali who added that the institute, although the situation is difficult, has a certain room for maneuver.
Jordan has referred in particular to a negative inflation rates and an overvalued franc. The SNB wants to prevent the national currency will further strengthen against the euro, as this occasion "poison" for the country’s economy. Moreover, the Swiss currency "suffering" particularly of its status as a safe haven in times of severe turbulence.
