Governatives

Britain will trigger the formal process for leaving the European Union before the end of March, Prime Minister Theresa May said Sunday, during the Conservative Party conference.
Announcing the historic change, May said: “We will introduce, in the next Queen’s speech, a Great Repeal Bill that will remove the European Communities Act from the statute book. That was the act that took us into the European Union". Then, speaking to the BBC, May stresses that the negotations required at least 2 years.

Rostek, russian state company, is considering to increase the stake of private investors in arm makers Kalashnikov as reported by the Russian news agency Tass. Moreover, the number one Russian conglomerate Sergei Chemezov, would be satisfied to hold 25% plus one share of the capital of the company, namely the controlling stake, while the rest would go into private hands. At the moment Kalashnikov belongs 51% to Rostek, while 49% is owned by private investors, among them the general manager of the company and two Russian oligarchs.

Women will retire at 65. After the States General, also the Swiss National Council approved – by 137 votes to 57 – the raising of a year of their retirement age in the examination of the Pension Provision 2020 program, bringing it into line with the retirement age for men.

Oil price is rallying in the opening day of the meeting of OPEC in Algeria; Brent and WTI mark both fell around 1.50 percent, after morning’s declaration, made by Iran’s oil minister, Bijan Namdar Zanganeh, who seems to have erased the little chance of a deal today for a freeze or cut production of crude oil.

Boris Johnson, the current British foreign minister, said that since early 2017, it will start the divorce process by the European Union and then Britain will most likely invoke Article 50. In this way the former mayor of London spoke in New York where United Nations Security Council held meeting on Syria perpetuating stalemate.

He told the BBC: "The government is working towards an Article 50 letter which as you know will be produced, probably, in the early part of next year.

he German bunds rallied Thursday after the United States Federal Reserve left interest rates unchanged and downgraded the economic outlook, encouraging investors to seek safe-haven assets.

At its two-day meeting, ended on Wednesday, the U.S. central bank held its target range on short-term rates unchanged at 0.25 percent to 0.50 percent, leaving the door open for a possible rate increase in December.

SBB will cut 1,400 jobs over the next four years: the same federal railways have made the announcement in the morning, motivating the measure with the need to reduce costs and increase competitiveness.

The Zurich Cantonal Bank (ZKB) keeps unchanged its growth forecasts for the Swiss economy: according to the institute’s specialists, the gross domestic product will increase by 1.1% this year and 0.9% in 2017.

ZKB economists are therefore fundamentally different from majority of other experts, who have recently revised upwards their estimates after news of a surprisingly large increase in GDP in the second quarter.