Swiss KOF leading indicator, designed to predict the Swiss economy over the next 6 months hit a new high reading at 102.9 since 1 year. The KOF continues to trend higher, which is a sign Swiss companies have started to adapt to the stronger franc.
Dieter Behring’s trial begins today, Monday, to the Federal Criminal Court in Bellinzona, and will last until the end of June. The financier Basel is accused of fraud for scam to trade and money laundering; defined the Swiss Madoff, he had damaged 2,000 investors between September 1998 and October 2004, promising to invest safely halt the capital that relied more speculative areas and the other half, to get more returns high. He ended up leaving a chasm of 800 million francs, because in reality the money of new clients was used to repay the previous ones and to fund his lavish lifestyle (up to 600,000 francs autoconcesso salary, watches and jewelery).
The outlook for the Swiss economy improved slightly in May: the barometer of the economic research center at ETH Zurich (KOF) stood at 102.9 points, 0.3 points more than in April (revised indicator from 102,7 to 102.6).
The figure is in line with forecasts: the analysts interrogated by the agency AWP betting on an index of 102.0 and 103.0 points. Since last February, the barometer is moving steadily above the long-term average: this suggests a continuation of the positive economic development in the coming months, the KOF said in a statement today.
The money laundering scandal widens again. Tuesday, during a press conference at which the Federal Financial Market Supervisory Authority announced it had ordered the dissolution within 12 months of the BSI, the director Mark Branson spoke of "six other Swiss banks are under investigation for their role in the corruption scandal Petrobras and the Malaysian fund 1MDB ".
The Federal Council approved today the program of stabilization of the federal budget for the 2017-2019 period provides for lower outputs of between 800 million and one billion francs a year. The plan was necessary because of the "holes" in the state budget caused by the strong appreciation of the franc following the abandonment of the minimum change threshold with the euro by the Swiss National Bank.
The agency Standard & Poor’s confirmed the triple "A" for the debt of Switzerland. In a note, they are praised the capabilities of the Swiss economy, called "competitive and diversified". Confidence by the American Society of rating, is also expressed with regard to the Swiss National Bank, after about a year and a half after the decision to abolish the minimum exchange rate between euro and franc.
PostFinance has become a member of the Swiss Bankers Association (SBA)., Coming thus to render the institution Swiss Banking Ombudsman.
In yesterday’s session of the ASB Board of Directors, composed of 300 members, has approved the application for membership, is today in a statement PostFinance know that as one of the leading Swiss banks, is under the supervision of the Federal Authority financial market supervisory Authority (FINMA).
PostFinance, which has been authorized to conduct banking business in 2013, has achieved in the past year a profit of 459 million francs, 77 more than in the previous year. The client deposits fell by around 2.8 billion.
The number of failures for insolvency suffered in April jumped by 25% to 424 over one year, according to Bisnode’ note today , international economic information companies.
To be precise, in the first four months of the year, 1,541 companies have brought books in court for insolvency figures up 9% over one year. In Ticino, from January to April the failures for insolvency were 112 (+ 13%). Graubünden has gone from 18 to 23 bankruptcies (+ 28%).
