Europe

Among the solutions, economiesuisse says including process optimization, review of purchase channels, the increased investment, the temporary increase in working hours, hiring freezes and also downsizing and relocations abroad. Taking advantage of the slight weakening of the franc, the worst scenarios wasn’t realized.

The cautious evolution of the global economy prevents a more sustained recovery, but the current trend has the merit of bringing stability. Therefore, economiesuisse expects an improvement in consumer sentiment over the year. After a smooth start, the economy looks up and growth of new approaches of the rates recorded in Germany.

According to the European Statistical Office, Eurostat, the third and final estimate of GDP for the 1st quarter indicates an increase of 0.6% on the quarter and 1.7% on year. These forecasts exceed those announced last month respectively 0.5% and 1.5%.

In the fourth quarter of the year there has been a growth of 0.3% qoq and 1.6% yearly. The entire European Union (EU) economy recorded an increase of 0.5% as compared to the cyclical same quarter last year, there was an increase of 1.8%.

Rothschild and Compagnie Financiere Martin Maurel have announced their intention to merge, that decision would give rise to a private bank with assets under management of approximately 34 billion euro, one of the first independent player in France.

In a joint statement, the institutions have explained that the transaction – which assesses Martin Maurel € 240 million – will be financed by a mix of new shares and cash Rothschild and external credit lines.

The Martin Maurel shareholders will receive 126 Rothschild Martin Maurel shares for each share held, or may be paid for the equivalent in cash. The family will receive Maurel Rothschild actions.

Swiss voters rejected sharply the referendum known by the term "cash" cows. On Sunday consultation 70.8% of the citizens who went to the polls said no; also in any canton, the initiative has found a majority.
If the rejection did not surprise, the percentage of votes against was remarkable. The last survey conducted by gfs.berne on behalf of SSR let it portends a tighter result: the share of opposites was in fact 49%, while that of 40% of the supporters.

The proposal was rejected by an overwhelming majority, with a percentage of 78%. So the Swiss have expressed a clear denial, as had clearly foreseen by the polls. Even the government was opposed to the excessive spending that would entail. The proposal for a "citizen’s income" equal for all was launched by Daniel Haeni, owner of Coffee Basel, and a group of his allies who call themselves independent, but showed from the outset to have little chance of being approved despite the interest he had aroused in public opinion Swiss. In addition, for approval it would be needed a double majority, that of the "cantons" and that of voting.

Change of sentiment in the English people. A little over two weeks since the referendum on Brexit of June 23rd, the polls show a turn in the acclaim and now signal a trend victory of the supporters of the "Leave", who wants a divorce between London and Brussels.

According to the latest survey by YouGov for ITV, they lead the game with 45%, ahead of 41% of "Remain". A few days ago it had been another survey, this time published by the liberal daily The Guardian, to have created confusion among analysts and investors themselves, finding the first favorable outcome for Brexit in a telephone survey.

The British authorities are investigating against Credit Suisse and the Russian group VTB in the granting of loans for several hundred million dollars to companies with ties in Mozambique, which would be served in particular to the acquisition of war material. This was reported by "Wall Street Journal", which adds that transactions comprise receivables of $ 622 million (613 million francs) for combat equipment, 535 million for the construction of ships and 850 million for the fishing fleet.

The United States throw accusations at China on the issue of unfair competition and dumping in the steel sector, plagued by excess capacity globally but especially right in the Asian giant. "In line with the reforms of China, the United States supports efforts to reduce excess capacity and leave it to market forces to determine investment", the State Treasury Secretary Jack Lew said, pointing the finger at " the "Chinese excesses" that distort global markets. "