Europe

Don’t forget equities are a real asset class, and ultimately they are likely to benefit from a reflation regime

UK business schools have trumped their European rivals, according to the Financial Times European Business School Ranking 2016, giving them strength after the tumult of Brexit.

London Business School topped the FT’s table for the third year on the trot, although continental rivals are close behind, with HEC Paris and INSEAD of France in second and third place.

Lufthansa pilots in Germany have said they will extend strike action again until Saturday, this time targeting long-haul flights in a long-running pay dispute.The dispute has grounded tens of thousands of passengers and cancelled hundreds of flights.

By the end of Friday, an estimated total of 315,000 passengers will have been affected. Lufthansa’s executive management board member Harry Hohmeister said it was "not possible" to meet the pilots’ demand for a bigger wage rise.

Swiss President Johann Schneider-Ammann said on Monday his country would consider letting Britain join the European Free Trade Association (EFTA) when it eventually leaves the European Union following June’s Brexit referendum.

"I told my colleagues if the U.K. approaches EFTA to explore the possibility of joining EFTA, Switzerland would be open to discussions," Johann Schneider-Ammann told the Geneva Press Club after an EFTA ministerial meeting.

Mark Carney, governor of the Bank of England, could leave the role before the eight-year term, facing down Brexiter critics campaigning for him to resign ahead of time.

Mr Carney took over as governor in June 2013 for an eight-year term, but with an option to leave after five years.

Die Unsicherheit nach dem Anti-EU-Referendum hat die britische Wirtschaft im Sommer kaum gebremst. Das Bruttoinlandprodukt stieg zwischen Juli und September noch um 0,5% zum Vorquartal und damit deutlich stärker als erwartet, wie das nationale Statistikamt ONS am Donnerstag mitteilte.

Wages in Switzerland should stagnate in real terms in 2017, according to UBS economists who foresee an average salary increase of 0.6%, with inflation estimated at 0.4% for the same period of time. The effective increase will be only 0.2%, lower than this year.

Deutsche Bank may soon reintegrate Postbank, the Bonn-based institute bought in several steps from 2008 for a total of €6 billion and then placed on the market. This was revealed by the Sueddeutsche Zeitung, citing information gathered in financial circles.
Sources said no serious buyers emerged after Deutsche Bank put the unit up for sale and that a potential listing of Postbank also would be difficult in the current market environment.