Sky high valuations are abundant in equity markets however they are getting far less attention than during previous bubbles. Specifically, investors talk of potential cures brought about by startup biotech companies which is reminiscent to counting eyeballs during the internet bubble.
Brexit might make its effects felt also in the UK bureaucracy: if all European citizens who live, study and work in Britain would appear to ask for a residence visa, there would be a clogging equal to work for 140 years dispose of all the amount of paperwork. The administrative effects could be very serious: it is the result of a study by the Migration Observatory at Oxford University, as reports the Financial Times.
The "right" to residence, depending on the outcome of the referendum may be required for more than 3.5 million people and since, at the time, the Ministry of Interior English is no more than 25 thousand practices a year, the race to seen could create an unprecedented bureaucratic gridlock, since they would be disposed of a file number 140 times higher than average.
First intervention on rates in seven years by the Bank of England. The institute headed by Canadian Mark Carney announced that it has reduced the benchmark rate from 0.5% to 0.25% setting a new low for the cost of money.
The measure, already announced but then postponed surprise on July 14, is interpreted as a British economic stimulus in the background of the Brexit uncertainties and new alarm about a possible recession.
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.
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.
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.
Recep Tayyip Erdogan accused the European Union and its representative Federica Mogherini had spoken without knowing the reality, on the attempted coup in Turkey, committed, he said, by a "layered structure" comparable Italian Mafia or P2.
"Mogherini would not have to talk," Erdogan said in an exclusive interview to the Italian TV RaiNews24. "It was instead to come to Turkey" as well as European leaders go in the places struck by terrorism. "It ‘s an ongoing coup that made 238 martyrs but no one came here," continued the president turkish. "If they had bombed the Italian parliament Mogherini would have said that was fine? To be concerned about the processes that would follow?", He asked, explaining that the introduction of capital punishment is desired "57% of Turkish citizens": "If the parliament will vote for the death penalty, then no one will say anything. "
Daesh threats against Russia can not influence the position of Moscow in the fight against international terrorism, the Kremlin spokesman Dmitry Peskov said.
The video released today by terrorists in which a man, masked, threatening Putin, exhorts his "brothers" Muslims for jihad against Russia led the government to express itself firmly. "These threats are not able in any way to influence the policy of Russia and President Putin in the fight against international terrorism, which of course will continue in all directions," Peskov told reporters.
