Category Archive: 3.) Investec

SMI set to end 2016 in negative territory

In the last week of the year, the Swiss Market Index deepened its loss for the year as banks continued lower on low trading volumes. The SMI is set to end 2016 with an annual loss of 6.8% as banking and pharmaceutical giants pulled the index down in a year of turbulent trading. A volatile 2016 started with a brutal equity sell off as investors dumped global stocks on fears of an accelerating economic slowdown in China. The Brexit vote in June...

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Miners, including Swiss-based Glencore, unearth a profit bonanza with rally set to last into 2017

Miners had been digging in one of Australia’s oldest collieries for almost a century until operations wound down a year ago, the victim of plunging global commodity prices.

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Seven banks fined in Swiss probes of rate-rigging cartels

Switzerland handed out about $100 million in antitrust fines against seven U.S. and European banks for participating in cartels to manipulate widely used financial benchmarks.

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Sentiment appears positive as investors close their books for the year

Ahead of the Christmas break, trading volumes were thin this week amid a lack of new market catalysts. Swiss and European equities were generally unchanged through the week, tracking global stock markets. Overall, sentiment appears to be positive as investors close their books for the year.

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The hidden cost of Christmas gifts

If you haven’t had a chance to go Christmas shopping don’t despair, gifts destroy value. For example, someone on a diet is unlikely to place much value on a box of chocolates. The difference between what was paid for the chocolates and what the recipient would have paid represents destroyed value. They could have been left on the shelf for someone who would have fully valued them. Economists call this deadweight loss.

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Swiss watch exports poised for worst year since 1984: chart

The number of watches Switzerland exports is on track to reach the lowest level since 1984, when digital timepieces were in vogue and Swatch Group AG had just been formed in reaction to low-cost competition.

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Swiss to avoid EU clash as immigration bill passes final hurdle

After three years of uncertainty, Switzerland may just have solved its immigration dispute with the European Union. Lawmakers in Bern on Friday passed a bill designed to curb EU immigration by giving locals a head start on filling job vacancies. By supporting the measure — which sidesteps quotas — they aim to prevent a deeper dispute that could cost the country crucial trade deals.

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Swiss-based Glencore’s Rosneft deal reopens battle for Russian commodities

In the cutthroat world of commodities trading, there’s no bigger prize than Russia. The country of Vladimir Putin has it all: oil, natural gas, aluminum, nickel, wheat, coal and many other riches. The world’s biggest trading houses have jostled over it for decades.

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Swiss pay doesn’t always match company success, Ethos says

Switzerland continues to see a disconnect between executive pay and company performance three years after voters passed some of the world’s strictest limits on compensation, according to a study by corporate governance group Ethos.

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December rally continues this week for SMI

2016’s December rally continued this week as Swiss and European equities outperformed global stocks. The US dollar continued to surge after the Federal Reserve increased interest rates for only the second time in a decade on Wednesday.

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Swiss fact: Switzerland is one of the world’s top 5 coffee exporters

According to UN trade statistics, the small Alpine nation exported US$ 2.4 billion1 of coffee in 2013. This figure is far higher than its cheese (US$ 615 million2) or chocolate (US$ 822 million3) exports, two far more famous Swiss exports.

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Swiss banks probed at home over Brazil’s ‘Carwash’ bribe scandal

The Switzerland attorney general’s office is shifting its focus to banks operating in the country as it continues to investigate Brazil’s bribery scandal, after plea deals with individual executives provided fresh insights into how the illicit funds flowed through the financial system.

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Migros Bank could pass on negative interest rates

Because of negative interest, even a savings account earning 0% interest is earning too much reckons the bank’s boss. Soon many banks will be passing on some of the cost of negative interest to their clients, reports 20 Minutes. Migros Bank will need to seriously consider doing the same in 2017.

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Credit Suisse planning more Swiss job cuts

Credit Suisse Group AG is preparing a new cost-savings program that puts as many as 1,300 jobs in Switzerland on the line, according to Schweiz am Sonntag. The plan will be announced Wednesday, when the lender holds its investor day in London, the newspaper said, without saying where it got the information. Credit Suisse’s Swiss unit may slash an additional 1,000 to 1,300 positions, or about eight to 10 percent of the unit’s workforce, it said.

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Pension payments could become compulsory for self-employed in Switzerland

Switzerland’s Federal Council is looking at a proposal to make pension payments compulsory for self-employed workers in the same way that they are for salaried workers.

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Uncertainty prevails everywhere, says Draghi, but apparently investors don’t mind

According to European Central Bank President Mario Draghi “uncertainty prevails everywhere” but apparently investors don’t mind. Market participants shrugged off last weekends “no” to constitutional reform in Italy and the subsequent resignation of Prime Minister Matteo Renzi to push European indices to 12 month highs this week.

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Swiss EU immigration – unfortunately there is no plan B, says president in interview

Switzerland’s plan to solve an immigration dilemma with the European Union could avoid being held up by another referendum if it gets strong support in parliament next week, according to Swiss President Johann Schneider-Ammann. A clear result in a final vote on Dec. 16 with the Swiss People’s Party, or SVP, in the minority could make it “delicate” for the group to push for another plebiscite, he said in an interview with Bloomberg Television’s Guy...

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Umuzi | An Out of the Ordinary Academy

Watch how Verona Banda’s life and job prospects have been transformed by the Umuzi Academy: www.liveoutoftheordinary.co.za

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Care for Wild: An Out of the Ordinary Orphanage

In celebration of World Rhino Day, Investec Rhino Lifeline is focusing its efforts on raising money for Care for Wild. This organisation based in Mpumalanga, South Africa, raises young rhino who have been orphaned or injured as a result of poaching until they can be rehabilitated back into the wild. Contribute now: http://careforwild.co.za/

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Richemont cuts send shockwaves from Geneva to mountain valleys

Richemont’s plan to slash 210 watchmaking jobs in Switzerland is sending shockwaves from Geneva to some of the country’s remote mountain villages, the cradle of high-end watch manufacturing. In Le Sentier, a town perched in the middle of the Jura mountain range, straddling the border between France and Switzerland, some 400 people protested Thursday against plans to cut the workforce of Vacheron Constantin and Piaget.

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