Saudi Arabia has announced to European customers a discount on crude oil by strengthening the signal of growing competition between the two producers of the OPEC cartel, Saudi Arabia and Iran.
The price cut comes after the new bankruptcy during the meeting in Vienna despite the efforts of the Arab country to converge towards a membership freeze of the production ceiling. The Vienna Summit would have to approve a bid rationing of the cartel, but are still conflicting views. In particular, Iran remains opposed, and has recently restored its production, after the long stall caused by contention on nuclear power.
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.
Switzerland and India could resume discussions on a free trade agreement at the end of the week. Swiss President Johann Schneider-Ammmann has discussed with the Indian Prime Minister Narendra Modi in Geneva today.
"We have established a very good basis" of discussion for the next days and the next few months, Schneider-Ammann said in a meeting with Nerandra Ways and twenty representatives of the Swiss economy. Previously the Swiss minister of the economy had entertained for over an hour with the head of the Indian government. The talks were energy and financial issues.
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.
Interest rates will remain at current levels or lower for an extended period and the quantitative easing program will last at least until March 2017. This was stated by President of the ECB Mario Draghi stating that the Q and will last as long as there will be a correction significant inflation and that stimuli have rebalanced the risks and the economy is gradually advancing.
The ECB, Draghi added, will not hesitate to act if necessary. And it recalled that the low rates are a symptom of a weak economy and that they are the right fit for restoring growth. In addition, the ECB will use all the instruments available within the framework of its mandate if necessary.
It had been known for months and yesterday the Bank of England has officially unveiled the design of the new 5-pounds banknotes that will come into circulation from September 13.
On one side appears the irreplaceable face of Queen Elizabeth, and on the other that of the statesman Winston Churchill, selected to replace Elizabeth Fry, nineteenth-century reform of the penitentiary system in the United Kingdom.
According to market expectations, the European Central Bank left interest rates unchanged at the end of the Monetary Policy Council. The main rate remains stuck at a record low of 0.00%, the rate on bank deposits to -0.40% and the marginal lending facility at 0.25%. The ECB announced after the meeting that was held in Vienna.
The plan of the corporate bond purchases ECB will start on June 8 and June 22 will be the turn of the maxi-Tltro loans to banks.
The gross domestic product (GDP) of Switzerland registered an increase of 0.1% in the first quarter from the previous three months. On a year the increase was 0.7%, announced the Secretariat for Economic Affairs (SECO). GDP was supported by household spending, investment in plant and equipment and those in construction, while the state consumption was affected in a negative way.
The costs of households have progressed the 0,7%. They have contributed to the growth sectors of health, housing and energy, while clothing and footwear continue to fall. State expenditure recorded a decrease of 0.8%. Investment in equipment marked a + 2.1%, + 1.1% as construction.
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