Europe

In an interview with Bild, Mario Draghi spoke of the lack of inflation in the euro, the impact of low interest rates on savers – in particular to be angry are those Germans – the age-old problem of the greek debt and referendum on Brexit, scheduled for June 23.

The journalist who asked how a central banker Italian, that the Germans feared could trigger inflation too high, can not stimulate consumer prices, Draghi said that in Germany can rest assured that the ECB is doing everything possible to bring inflation to the desired levels, around 2%. "Interest rates are low because growth is low and inflation is too low. Think about what would be the alternative: if we increase the time cost of money, what would be bad for the economy and result in deflation, unemployment and a new recession. "

Berlin is opposed to the special summit called by Greece. The German Minister of Finance Wolfgang Schaeuble said that "the talks with Greece have not made much progress." He added: "When the conditions are met, the meeting will be convened." So the Athens Stock Exchange back in the eye after the Eurogroup reference that had to discuss aid to the greek country: the BS Ase index leaves on the ground 2.5%. And Nathan Sheets, deputy secretary of the US Treasury for international affairs – as reported by Bloomberg – argues that the IMF will provide funds to Greece only with reforms and with a debt relief.

After three years away from selling phones business, which was sold to Microsoft, Nokia returns to the consumer market. Yesterday, the Finnish company has announced the acquisition for 191 million dollars, about 170 million euro in cash, the French company Withings, a startup specializing in the production of devices for monitoring body parameters. The transaction should be completed after the summer, after obtaining the approval of regulators.

The president of the Bundesbank, Jens Weidmann, in a speech to the German embassy in Italy, believes that a large risk-sharing between the Member eurozone without a strengthened common control mechanism "would be a wrong path" and would not create the " strong incentives to comply with the rules "that will see the Italian Economy Minister Pier Carlo Padoan.

"Since the creation of the monetary union the rules of the Stability and Growth Pact were violated by some states, including even Italy, more often than they have been" osservate.Weidmann also recalled that "even Germany in the years 2003/2004, he has helped weaken the binding force of the rules. "

Nestle, the world’s biggest food company, will create a joint venture in the ice cream industry with R & R, a leader in the freezer products in the UK.

Froneri, the name of the new company co-owned by the two companies, will be located across the Channel and will be present in over 20 countries, including Europe, the Middle East, Argentina, Australia, Brazil, the Philippines and South Africa, employing 15,000 people. Nestlé has indicated in a statement today indicating that sales would be expected of 2.7 billion francs.

BP, british oil company, reported an 80 percent year on year fall in core earnings for the first quarter but the result was better than analysts had expected. BP’s net income was $532 million (367 million pounds) in the first three months of 2016.

"Market fundamentals continue to suggest that the combination of robust demand and weak supply growth will move global oil markets closer into balance by the end of the year," Dudley said in the results statement.

With the ratification, Switzerland joined the Asian Investment Bank for infrastructure (AIIB). The Swiss government will from now on participate in the Board of Governors and to sit on the Board of Directors of the Bank and early participation in the institute’s founding process.

Switzerland is the 37th country to have formalized the all’AIIB membership along with China, India and Russia as a major shareholder. Of non-regional countries have so far ratified the accession of Austria, Denmark, Finland, Germany, Iceland, Israel, Luxembourg, Malta, Norway, the Netherlands and the United Kingdom. The participation capital of Switzerland amounted to 706.4 million dollars, of which 141.3 are actually paid. His voting share reaches 0.87 percent.

Royal Philips appears poised to quote its lighting division to focus on health and wellness segment. "Given the improvement in financial markets, compared to the first two months of the year, an IPO (Initial public offering) now seems the most likely solution," said the Dutch company in a statement explaining that the crucial decision will be taken shortly .
According to Frans van Houten, Philips number one, it is still necessary that tenders are assessed by individual investors, but at this point the way stock exchange seems down.