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Investec Switzerland. Global stock markets are set to close largely unchanged this week. The Swiss Market Index (SMI) underperformed after data showed that Switzerland’s economy barely grew in the first quarter of this year. © Michael Flippo | Dreamstime.com Sentiment swung between optimism and pessimism on mixed economic data while investors awaited announcements from the European Central Bank (ECB) and the OPEC meetings.  Global stocks came under pressure mid-week...

Investec Switzerland. Novartis AG employees in Shanghai have a new $1 billion home. The seven-building campus on the outskirts of Shanghai is accented by bamboo staircases and tree-lined courtyards. The company said the 1,300-person facility will be its third major research center, after Basel, Switzerland, and Cambridge, Massachusetts. © Sean Pavone | Dreamstime.com Foreign drugmakers are investing in China because of surging demand for medicines as the incidence of...

What does one hundred trillion dollars buy you? How about a mansion in every country, an airplane at every airport and a private island in every ocean? How about 3 eggs? When Zimbabwe issued its infamous 100 000 000 000 000 dollar bill, it could buy 3 eggs on the day it was issued. A few days later, it could only buy one egg. Hyperinflating Currencies Unbacked fiat/paper/credit, and nowadays electronic currency, has a poor track record. After studying this list of 609 defunct...

Investec Switzerland. Switzerland’s economy barely grew in the first quarter as government spending fell for the first time in a year. The slowdown to 0.1 percent followed expansion of 0.4 percent in the last three months of 2015 and fell short of the 0.3 percent growth that economists had forecast. © Denis Linine | Dreamstime.com The report published Wednesday by the State Secretariat for Economic Affairs in Bern also showed that government expenditure dropped 0.8...

Investec Switzerland. Switzerland should be wary of “well-meaning” international pressure to withdraw its 1,000-franc ($1,007) note, according to the central bank’s former president. © Ginasanders | Dreamstime.com Concern has mounted globally that big banknotes make life easier for criminals and should therefore be scrapped. While officials in the euro area have announced plans to phase out their most valuable note, the Swiss National Bank has stated its intent to retain...

Investec Switzerland. Nestle SA agreed to pay DBV Technologies SA, a French developer of therapeutic skin patches, as much as 100 million euros ($110 million) for the right to sell an experimental test to detect milk allergy, the most common food allergy in children. © Albina Glisic | Dreamstime.com Nestle will pay the Montrouge-based company 10 million euros upfront for development of the test, which Nestle will have the right to sell globally pending regulatory approval,...

Major Bourses on Course to End Month Sharply Higher (WSJ) Brent crude lower on strong Middle East oil output (Reuters) Treasuries Lose Their Lead Over Shares as Fed Moves Toward Shift (BBG) Lost Decade for Value Stocks Tests Faithful Who Say End is Nigh (BBG) Iraqi army pause at southern edge of Falluja as IS fights back (Reuters) Risky Reprise of Debt Binge Stars U.S. Companies Not Consumers (BBG) The Untold Story Behind Saudi Arabia’s 41-Year U.S. Debt Secret (BBG) Nuns With Guns: The...

After yesterday's US and UK market holidays which resulted in a session of unchanged global stocks, US futures are largely where they left off Friday, up fractionally, and just under 2,100. Bonds fell as the Federal Reserve moves closer to raising interest rates amid signs inflation is picking up. Oil headed for its longest run of monthly gains in five years, while stocks declined in Europe. Treasuries retreated in the first full day of trading since Yellen said late Friday that the improving...

In the latest tragic news from the world of finance, earlier today Zurich Insurance, the largest Swiss insurer which employs 55,000 people and provides general insurance and life insurance products in more than 170 countries, reported that Martin Senn, the company's former chief executive officer who stepped down in a December reshuffle, has committed suicide. He was 59. Senn had been a long-time employee of the insurer, serving as its chief executive for six years before stepping down in...

Investec Switzerland. Stock markets around the world are set to close higher this week after investors interpreted a rise in oil prices as a positive sign for the global economy. The Swiss Market Index (SMI) outperformed global markets amid a strong performance from financials and pharmaceuticals. © Ssuaphoto | Dreamstime.com Sentiment was bolstered this week as oil prices moved above the level of 50 US dollar per barrel on signs that a two-year supply glut may be coming...