"Switzerland can't stay unscathed by the global economic slowdown," said Sarasin currency strategist Ursina Kubli. " We think Switzerland will be spared a recession but the risks remain. " "A technical recession in Switzerland is being confirmed, I'd say we're shaping up for three negative quarters rather than two," said Julius Baer chief economist Janwillem Acket.
ZURICH, Oct 1- The outlook for Swiss industry darkened further in September, highlighting the risk of a recession due to sluggish growth in the euro zone and the United States and reinforcing the need for the central bank's cap on the strong franc. "Switzerland can't stay unscathed by the global economic slowdown," said Sarasin currency strategist Ursina Kubli. "
ZURICH, Oct 1- The outlook for Swiss industry darkened further in September, dragged down by sluggish economies in the euro zone and the United States that central bank actions have so far failed to revive. The index is compiled by the Swiss SVME purchasing managers' association and Credit Suisse, and a reading below 50 signals a contraction.
It is an enormous contrast to the KOF indicators, which is going in the other direction, but we tend to have more trust in the PMI indicator as Switzerland can't stay unscathed by the global economic slowdown. We think Switzerland will be spared a recession but the risks remain. "
A technical recession in Switzerland is being confirmed, I'd say we're shaping up for three negative quarters rather than two. The euro zone recession is going to be more and more felt in Switzerland.
LONDON-- The board of Anglo-Swiss mining company Xstrata PLC said Monday it is recommending shareholders accept merger terms with Swiss commodities trader Glencore PLC _ a deal that would create an industry behemoth with revenues of around $175 billion. Xstrata said in a statement it was supporting the offer of 3.05 Glencore shares for each Xstrata share.
ZURICH, Oct 1- The Swiss purchasing managers' index fell to a seasonally adjusted 43.6 points in September from 46.7 points in the previous month, data showed on Monday. ANALYSTS' VIEWS BERND HARTMANN, VP BANK. That Switzerland found itself in a difficult environment was clear but the clear fall in the index is somewhat surprising.
ZURICH, Oct 1- The Swiss purchasing managers' index fell to a seasonally adjusted 43.6 points in September from 46.7 points in the previous month, data showed on Monday. The index is compiled by the Swiss SVME purchasing managers' association and Credit Suisse. For more details of the Credit Suisse/ SVME statement Reuters 3000 Xtra users can click on:.
ZURICH, Oct. 1- Swiss retail sales rose 5.9 percent in August in real real terms versus the year-earlier month, the Federal Statistics Office said on Monday. Sales were up 0.4 percent compared to the previous month when adjusted for seasonal effects. For recent Swiss National Bank comments...
ZURICH, Oct 1- Swiss drugmaker Novartis said on Monday the European Commission had approved its Seebri Breezhaler as a once-daily treatment for adult patients with chronic obstructive pulmonary disease, more commonly known as smoker's cough, in the European Union.
ZURICH, Oct 1- Swiss stocks were set to open slightly lower on Monday, adding to Friday's losses as concerns mount over Spain's economic crisis and as data signal further evidence of slowing growth in China.
*Qua Iboe valued at dated plus $2.30- $2.60. GENEVA, Oct 1- Nigeria's largest crude stream, Qua Iboe, showed signs of stalling on Monday after a flurry of deals last week that boosted differentials to six-month highs.
More than a quarter of the work force in Spain or Greece is without jobs, but there is a city on the Danube north of Munich that has the opposite problem: not enough workers, the New York Times reports.
It may be the age of austerity for many in Britain. For a former doctor, Geoffrey Lipman, it is anything but. Dr. Geoffrey Lipman, who is retired, gets about $78,000 a year in his government pension.
Beleaguered countries like Spain have been counting on a quick and neat way to fix their banks without taking on more crippling debt. The New York Times reports.
Spain's economic crisis has prompted a movement within Spain dubbed it “rurbanismo,” a term invented to describe the reverse migration from city to country that has stemmed a generations-old trend that has long been the usual pattern in most advanced industrial economies, the New York Times reports.
In September 1992, the Federal Reserve culminated a long-running effort to stimulate the sluggish economy by cutting its benchmark interest rate to 3 percent, the lowest level it had reached in almost three decades.
When fear gripped the European markets in April, the money manager Robert Tipp decided to buy more Portuguese government bonds. He figured that European officials wouldn’t let the country turn into another Greece.
Anastasia Kastaniotou, a struggling mother of three, stood near the Greek Parliament building on Wednesday and threw up her hands as she contemplated an €11.5 billion austerity package that her country’s government was trying to tie up this week to keep Greece in the euro, the New York Times reports.
A top German official at the European Central Bank on Monday defended the bank’s plans to intervene in bond markets to push down borrowing costs for businesses and encourage economic growth. The position puts him at odds with the president of Germany's central bank and highlights a growing split in the country’s policy-making elite.