Sweden seems immune to the global slowdown. In the first quarter of 2016, Sweden’s GDP has recorded a + 0.5% MoM, + 4.2% compared to the same period last year, despite being slightly below analysts’ estimates.
According to the KOF indicator. The Scandinavian country sees a rosy future. The index, which serves as the economic barometer for the Alpine economy, rose in May to 102.9 points from 120.6 points in April, as measured by the Economic Institute. This is the highest level since May 2015. "Since February, the barometer is steady above their long-term average. This indicates a continuing positive development of the Swiss economy in the coming months," the statistics office said in a statement.
The clothing group Vaudois Switcher, with stores also in Ticino, has failed, weighed down by three exercises in consecutive deficits and from 9 million losses in the first months of 2016,
The district court ruled on Thursday in Lausanne. According to the court "it is hard to deny the state of indebtedness of the company. There is largely in a state of insolvency". Now the company will have 10 days to appeal.
The BSI scandal, which will see the closure of the oldest bank of Ticino, has created concern about the possible loss of jobs. Yesterday, the new CEO Roberto Isolani met, together with the Vice-President of the Board Eugenio Brianti, at Town Hall the Mayor of Lugano Marco Borradori. "FINMA’s decision will not lead to a drastic cut in jobs or a customer run," Isolani said.
On the other hand, the Mayor has not shown so optimistic "To know whether or not there will a customer escape with cuts of personnel we’ll have to wait for the next few days", Borradori noticed.
The results, though provisional (definitive ones are expected in early June) released Friday by the Federal Statistical seem to show an improvement in employment in Switzerland.
The number of employed grew by 0.6% in the first quarter, making the comparison with the same period of 2015, but it is a tendency of uneven, as evidenced by the secondary sector down 1.6% while the tertiary sector It recorded + 1.3%.
A possible output of the UK from the European Union would be "a serious risk to the" global economic growth. The theme of Brexit also enters in the conclusions of the G7 Japan. In the final declaration signed by the seven leaders (including the British David Cameron) it is observed that "the global recovery continues, but growth remains moderate and uneven", and since the last meeting, "the downside risks to the global outlook have increased ".
Brussels has given its consent to the merger of the two giants of the beer, Anheuser-Busch InBev and SABMiller. The European Commission has removed any regulatory obstacle to the agreement between the two largest brewers in the world.
The agreement is subject to the sale of the entire beer industry Sab in Europe. According to the Competition Commissioner Margrethe Vestager, this decision "will ensure that competition is not weakened in these markets and that consumers will not have the worst."
For the Commission, Europeans buy beer for about € 125 billion each year. The sale is intended to alleviate the concerns that SABMiller, which produces Budweiser, would have had a slump in the European market.
The emergency fuel continues to rise in France, while approaching the meeting with the European Football Championship, which will put the transalpine country in the spotlight for a month.
Thirty per cent of the country’s distributors have remained dry and the protest against the labor market reform continues unabated while for the first time Prime Minister Valls has indicated its openness to change the text.
White smoke for aid to Greece after a long negotiation that lasted 11 hours: Prime Minister Alexis Tsipras has got not only aid but also the green light to debt restructuring.
The International Monetary Fund (IMF), to break the deadlock, has explicitly demanded to the Eurogroup a serious and concrete commitment on debt relief before getting involved in the third assistance program. The Eurogroup has put pen to paper this commitment while the IMF, later this year, will ask its board to contribute to the plan.
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