The Bank of England will probably wait until August before working to appease the effects of the British decision to leave the European Union and the pound will suffer again in a decisive manner.
They are the results of two surveys conducted by Reuters after the central bank governor Mark Carney spoke to a real risk of a slowdown for the UK economy as a result of the earthquake and Brexit urged banks to continue giving credit .
The Swiss National Bank (SNB) went on its biggest foreign-currency buying spree since January 2015 in the wake of Britain’s vote to leave the European Union, data showed on Monday.
The measure for domestic banks rose by 6.87 billion francs ($7.05 billion) to 430.3 billion, while the total amount jumped by 6.27 billion francs to 507.5 billion. "Brexit has triggered a big demand for safe havens like the franc, so the SNB has to keep acting," J. Safra Sarasin currency strategist Ursina Kubli said, as Reuters referred.
Switzerland is among the seven countries that emerge as the flagship reality of the fourth industrial revolution, which sees in the foreground as information and communication technologies (ICT). It says a report by the World Economic Forum (WEF).
The 2016 edition of The Global Information Technology Report puts thr Helvetic country – along with Sweden, Israel, Singapore, the Netherlands and the United States – a world leader in generating economic impact of investments in ICT.
Among emerging markets, Russia remains stable at 41 th place, China, advancing three positions, is located at 59 th place; leap forward for South Africa passing to 65th place while India recedes, surprisingly, at the 91 th place.
Russia will run out the first of his two sovereign funds, the Reserve Fund, in the course of next year and then begin to tap into the National Welfare Fund to cover the deficit between revenue and expenditure in the state budget.
The Ministry of Finance has in fact made it clear that public spending will be frozen at an altitude of 245 billion a year for three years in dollars, equivalent to a reduction of 20%, but not enough to stop the bleeding. "The committee approved the full freeze", Alexei Ulyukayev declared to press agency Tass.
The stop to the repayments of the British Real Estate funds is spread in a domino effect that seems, at the moment, unstoppable. After Standard Life, it was the turn of Aviva and then, in the late afternoon of a difficult day for securities listed in the Real Estate, M & G headed by the Prudential Group. The threat now hangs over all the giants of the City investing in bricks and mortar. Commercial, for the moment at least.
In the last week, the European Central Bank has bought 9.734 billion euro of public sector bonds (government bonds and bonds of agencies and institutions) as part of the Quantitative Easing program, according to the release of the ECB. The amount refers to the securities purchased in the so-called ‘public sector purchasing Program (PSPP)’ which, together with the covered bond purchases, Abs, and corporate bonds is part of QE by 80 billion euro per month.
Mishcon de Reya, a major UK law firm with over 400 lawyers worldwide, has launched a lawsuit advance against the British government to ensure that the legal process of activation of Article 50 of the Lisbon Treaty, a key to start the procedure withdrawal from the EU, are accomplished in accordance with law. The law firm has moved at the request of a group of companies whose names were not disclosed.
To restructure Volkswagen after dieselgate "it will take about two generations of vehicles" about fourteen years: this is the judgment of Herbert Diess, CEO of Volkswagen home.
The manager, in an interview with the Süddeutsche Zeitung, claims that the company now focuses "on where we need it or not we must invest in the future, with particular reference to innovation" with regard to electric cars and their batteries, explains Diess, "account for between 30 and 50% of the value of the vehicle."
