Equity

Brexit could bring to bear its effects already on the next vacation. And for airlines, especially low-cost, the risk of burdening the next half revenues.
The alarm was launched by EasyJet, which expects "that revenue per seat at constant exchange rates, in the second half of the year will fall by at least 5% compared to the second half of 2015". The British airline also said it expected a negative impact of 28 million pounds in profit before tax for the third quarter due to strikes outages, congestion Gatwick and Egyptair tragedy that has caused a decline in demand.

During his trip to Scotland, Donald Trump wanted to release his first impressions about the Brexit, "appreciating" the choice made by the British people. In an interview with Italian newspaper La Stampa said that "The people in the UK have claimed their independence, the right to decide how to govern the country and determine their own destiny. It seems to me that this is a positive thing in general. The crumbling of Europe instead is a fact, not my opinion. It depends on the errors committed by its inadequate leadership.

According to the Ifo Institute of Economic Research, German business sentiment improved in June, despite all the turmoil caused by the EU referendum in UK. Economists were expecting the reading to disappoint, falling from 107.70 to 107.50, while the actual result was 108.7 points.

The German Business Climate is calculated by a number of surveys from different firms and companies in a handful of sectors, such as construction, wholesales, manufacturing, retailing, services, which altogether provide insight on the German economy. The given release is important, as it tends to also provide a preliminary forecast for future economic activity and the economic conditions in the Eurozone overall. Furthermore, the survey consists of approximately seven thousand businesses, which are asked to assess the economic outlook for the upcoming six months.

UBS has warned its customers about possible restrictions in the negotiations in relation to the referendum on Brexit. If during tomorrow’s vote should occur extreme swings or difficulty in terms of liquidity the bank may have problems running transactions on its electronic trading platform.

If problems occur, the transactions would be carried out as soon as the situation gets back to normal, UBS says. Other institutions, such as the Dutch ING and the French Societe Generale, have sent similar communications to its customers.

Venezuela is at risk of default: according to a recent report of the rating agency Moody’s, is "highly unlikely" that Venezuela has this year of foreign currency sufficient to meet its payments. The default would hit before the state oil company, PDVSA, followed by the Caracas government.

The situation in the country is very serious and in all respects. The International Monetary Fund now estimates that GDP will fall by 8% this year and that inflation will rise to 480%. Foreign exchange reserves have fallen to $ 12 billion, the lowest level since 2003, of which perhaps just 1.5 to 2.0 billion are readily liquid.

There are about 46.5 million citizens eligible to vote in the UK for a referendum tomorrow on the EU: the state of the updated data of the Electoral Commission of the kingdom, as released by the BBC, will be a total of 46,499,537 persons holders right in the lists of those who will be admitted to the polling stations.

Her Majesty the Queen, Buckingham Palace has confirmed last month, will not travel to the polling station; However, there have been attempts, some tabloids, to enlist among the Eurosceptics, although the sovereign to practice no votes ever.

George Soros takes the field in the referendum of June 23 in Britain and expresses clear opionion about the scenario of a possible Brexit, convinced that the pound would lose "at least 15%, but perhaps even more ‘than 20%", descending to parity with the euro. It would be a paradoxical joining the single European currency, with a devaluation with no benefit to the UK economy.

The forecast comes from the financier who in 1992 thanks to his bet on the devaluation of the British currency managed to make "substantial profits" for his hedge fund "at the expense of the Bank of England and the British Government", as noted by Soros in an editorial the ‘Guardian’. "It ‘s almost certain that the pound would drop quickly and abruptly" in case of victory of the’ Leave ‘in the referendum of June 23, and it would be a 15% devaluation of the "most disruptive and more" which took place in September 1992, Soros writes which is considering the pound falling from the current $ 1.46 to "below $ 1.15," then by 25-30% below the pre-referendum range between 1.50 and $ 1.60.

Salaries of managers of the largest Swiss companies have not decreased in 2015 and in fact the difference between the lowest wages and the highest rate was a record of the last five years.

The union Travail Suisse in a note today announced the rankings, asking at the same time a solidarity levy on frameworks fees through an amendment to the law that governs the public company.