Corporate

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.

The food delivery market is going to be more and more competitive. According to Rocket Internet estimates, its value is around 90 billions of dollars, an element that is carrying several big players, such as Uber and probably Amazon, soon to enter the European market.

Deliveroo, London-based company born in 2013, has decided to "pump fresh cash", through a collection funding and raises $ 361 milllion, tanks to a group of new investors led by private equity fund Bridgepoint. In less than three years, the start-up has already put together $ 475 million that drives up the evaluation, though analysts do not unbalance of what could be the company’s value on the market.

The race for the White House fascinates the American people and helps the results of companies. Thanks to the Clinton-Trump challenge and election commercials, 21st Century Fox has exceeded analysts’ expectations.

The media conglomerate posted revenues of $ 6.6 billion for the period ended June 30 (Q4), up 7 percent, and a surge in net income from $ 87 million in the year-May period to $ 567 million. Earnings per share were $ 0.30, up from $ 0.04 During the same time frame last year.

Adidas has closed the second quarter marked by profits substantially doubled to 291 million euro. Earnings per share rose from 0.73 to 1.42 while revenue grew by 13% to 4.42 billion. The German sportswear giant has improved to almost 20% from previous estimates of 15% predicting sales growth during the year.

Biogen is in the sights of giants like Merck and Allergan. According to rumors reported by the Wall Street Journal, Merck and Allergan they would have raised the possibility of an acquisition of the US biotechnology group. Negotiations are at an early stage.

If it happens, it’d be the biggest deal since 2008 when Roche acquired Genentech. Representatives from Merck and Biogen did not immediately respond to request for comment. Allergan declined to comment.

The based-company Neuchâtel watchmaking Zenith , the historic luxury brand, aims to close three of its eleven stores worldwide, including the only one in Switzerland, in Geneva. The store will cease next week, indicated the manager confirming a report published today by Le Temps. The three employees affected by the closure of the Geneva shop have found a work place in the group, as reported.

By 2017 two more closures will occur; at the time the company has not yet announced because its employees have not been informed. The restructuring will not touch any case Japan, Hong Kong and China.

Credit Suisse and Deutsche Bank will be dropped from the Stoxx Europe 50, the index showing the performance of the 50 most important European companies.

From Monday, August 8, the two banks will be replaced by the French group Vinci (construction) and the Dutch ASML (semiconductor industry), as indicated last night by index managers.

The Bavarian Government will cause to Volkswagen. The fall in the price of the automaker’s shares in Wurzburg, it said in a statement, determined by dieselgate damages the Bavarian pension funds. Bavaria’s state pension fund for civil servants lost as much as 700,000 euros ($ 783,580.00) after VW shares plunged in the wake of the Sept. 18 revelation by U.S. regulators of the carmaker’s manipulation.