Europe

Fitch sends a warning to Europe and the United Kingdom, that in the aftermath of Brexit have already begun negotiations to regulate future trade relations, beyond the official statements.

The rating agency, in an article by analysts, said that "the negotiations will last longer, it will be worse" for both sides, showing "weak positions" and are affected by the political uncertainty and the risk of food populist positions in other European countries. "The time is crucial for both the United Kingdom, to see materialize the benefits highlighted by supporters of Brexit, both for the European Union, which risks delaying the laborious process of integration.

The Russian state budget for 2017-2019 should be formed based on a scenario that takes into account the worldwide price of oil and the sanctions imposed in Moscow. This was stated by Russian Prime Minister Dmitry Medvedev.

"I have held several sessions, in which we discussed common approaches to the formation of the working budget. There are several development scenarios. But there is a common understanding that during the drafting of the budget is necessary to rely on a traditional approach or if you will, a pessimistic scenario on issues relating to factors that generate our budget "looking in particular" oil prices, the prices of other raw materials, as well as restrictions of sanctions that are still in force", adding that the Russian government could discuss the draft budget for 2017-2019 in October.

As announced in recent months by the Cupertino, today the Apple Pay service is officially available in Switzerland, as reported yesterday by the company as part of a presentation in Zurich. In the United States the payment method arrived in the autumn of 2014 and this year will also be launched in France, Spain and Hong Kong.

The system works right now with cards, both credit and debit, linked to the Visa and Mastercard circuits, institutes Bonus Card, Cornercard and Swiss Bankers. Meanwhile, the ability to conveniently pay with your iPhone in contactless mode, in addition to the Apple Store, is extended to eight of the leading retailers in the country.

UBS wants to create a European bank focused on the administration asset: UBS will have the name of SE Europe, by grouping different units in the EU. Writes the Handelszeitung (HAZ), adding that the venue will be in Frankfurt and that the departure is scheduled in the fourth quarter.

When contacted by the agency AWP, a spokeswoman for UBS confirmed in essence the plans, stating that the venue has not yet been selected and the decision will be made later this year.

French food group Danone announced the purchase of The WhiteWave, US companies, specializing in the production of bio-based products and vegetable milk. The transaction values in the $ 12.5 billion that the American company has in its portfolio brands such as Silk, So Delicious, Alpro and Vega.
The agreement provides that the Us Group shareholders will receive $ 56.25 for each share their cash. It is a premium of 19% over the closing price on Wednesday. Danone thus doubling its size in the United States, increasing its presence from 12% now to 22%.

Customers of Credit Suisse will soon be able to operate at the ATM through his own smartphone. Cash transactions, such as deposits and withdrawals, may be made without using the card and the starting date is set for next Tuesday. It is the first bank in Switzerland to offer this possibility.

According to a press release today, about 330 ATM of Credit Suisse and its subsidiary, Neue Aargauer Bank, have been equipped with the technology to "Cardless Loyalty Cash", the new feature in the app institute called Private Banking Switzerland

Brexit doesn’t scare Italian banks; this is the concept expressed by Giovanni Sabatini, General Manager ABI, during the presentation of the Global Institute of International Affairs outlook, according to which "the market seems to have changed everything, but if we look at the fundamental Italy and the system Italian bank are less exposed than the Brexit risk ".

"The exposure of the banking sector to financial institutions in Britain is absolutely limited and in any case less than France, Spain and Germany, but for the markets is not so. It looks as if Italy after the vote has been overwhelmed by a huge problem. "

The new € 50 banknote will enter into service in April 2017, issued by the European Central Bank (ECB) in Frankfurt.

After the banknotes of 5, 10 and 20 euro, the 50 is the fourth cut of the second series of euro banknotes, known as "Europe." Among the banknotes, it is the most widely used and represents 45% of all banknotes in circulation, as reported by the note of the ECB. For this reason the new banknote has "highly advanced safety features" to avoid being spoofed.