Corporate

UBS announced a cooperation with the US SigFig, independent California company that offers technologies for asset management (so-called "robo-advisor", sort of virtual financial advisor).

The two companies will jointly develop technologies for the financial sector UBS Wealth Management Americas (WMA), its consultants and their customers, it said in a statement released yesterday by UBS in the US. As part of this alliance, the bank also made a capital investment in SigFig, without spreading details.

Orascom, a company owned by Egyptian businessman Samih Sawiris, expects a loss in the first quarter of 2016 between 26 and 28 million francs. The figure represents approximately the entire loss of 2015, announced Monday the holding company that builds and operates real estate, especially in Andermatt (UR). The final figures will be announced on Thursday. In addition to the loss, we expect a decline in turnover from 17% to 20%.

French oil giant Total Monday inaugurated its new gas project in the North Sea near the Scottish Shetland Islands, whose production is providing up to 8% of British gas consumption.

This project, called Laggan Tormore-includes four subsea wells 600 meters deep and connected to a new gas processing plant built on the Shetland Islands. Launched on February 7, production reached its ceiling from 90,000 barrels per day of oil equivalent.

GAM buys Taube Hodson Stonex UK (HRT), an investment company that focuses on a comprehensive strategy for action. On March 31, HRT ran a fortune of about 1.78 billion GBP or CHF 2.5 billion. In its statement Monday, GAM said that this transaction, the price is not disclosed, is in line with its strategy to complement organic growth with acquisitions and engagement teams.

Subject to customary approvals from supervisory authorities, the transaction should be finalized in Q3 2016. The HRT investment team, led by four directors Cato Stonex, Mark Evans, Robert Smithson and Ali Miremadi, then will move in the offices of GAM in London and strategies will be marketed under the GAM brand.

Pfizer buys Anacor Pharmaceuticals in a transaction valued $ 5.2 billion. The two companies have signed the agreement and it is stated in a joint statement that the transaction is in cash and that Pfizer will pay $ 99.25 for each Anacor action.

The price represents a premium of 55% over Friday Anacor title last Friday. The transaction, which is expected to close in the third quarter of 2016, should not impact on the guidance of this year, said Pfizer. Meanwhile springs forward the title Anacor: the Wall Street pre-market marks an increase of over 53 percent.

In April, the mega merger between Pfizer and Irish Allergan had jumped after the move by the US Treasury against tax inversion, the practice among corporate mergers aimed only to make the displacement of the legal office in countries with favorable tax treatment.

HSBC, one of the largest financial groups in the world, today announced that 840 jobs in IT will be transferred by the end of the year, of which at least 600 currently employed at Sheffield. These relate to a part of the cutting surface of 8,000 workers in the UK, announced in June 2015.

"As part of a global redeployment plan, approximately 840 workstations without direct contact with customers will be transferred from the UK to other sites in the world," said the CEO of HSBC for Britain John Hackett, in a statement

The European car market continues to grow. Cars registered in April in EU and EFTA countries (Iceland, Norway, Switzerland) were 1,318,820 cars (9% increase on April 2015). According to ACEA, the European Association of Manufacturers, in the first four months in 2016 are 5,251,757 deliveries (+ 8.3% on the same period of 2015). In Italy, registrations in April recorded + 11.5% better than France (+ 7.1%), Germany (+ 8.4%) and the UK (+ 2%), while in Spain there was an increase of 21.2%.

Fca also continues to run: 89 590 registrations in the EU and EFTA in April (+ 13.6% on 2015, compared to + 9% of the market) .The share rises from 6.5 to 6.8% becoming the fourth manufacturer group for sales volumes in the month.

Apple invests $ 1 billion in Didi Chuxing, Uber’s rival in China. Apple will help Didi to develop its platform for sharing data, a useful tool for the Chinese company that makes more than 11 million trips per day and serves 300 million customers.

The Apple investment for Didi is very important. The Chinese company is engaged in a round of fundraising by $ 2 billion, with whom is valued $ 25 billion. The Chinese market is growing and Didi and UberChina they battle to win customers and investors. Although for many start up recently to collect funds has become very difficult with the economic slowdown, Didi is the exception. Its valuation has rocketed from February 2015, when it was worth $ 6 billion.