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Since 2015, the Volkswagen Group has paid more than €27 billion to settle investor and consumer lawsuits as well as regulatory fines and remedies tied to resolving excessive emissions levels in its diesel cars Switzerland’s highest court has dismissed a legal complaint by a consumer group against Amag, an importer of German Volkswagen diesel cars into Switzerland, linked to the emissions-rigging scandal. The Federal...

It was always folly to believe that inflating asset bubbles could solve the structural problems of a post-industrial economy. The Doomsday Scenario for the stock and housing bubbles is simple: the Fed’s magic fails. When dropping interest rates to zero and flooding the financial sector with loose money fail to ignite the economy and reflate the deflating bubbles, punters will realize the Fed’s magic only worked the...

A Recurring Pattern When the gold price recently spiked up to approach the resistance area even Aunt Hilda, Freddy the town drunk, and his blind dog know about by now, a recurring pattern played out. The move toward resistance fanned excitement among gold bugs (which was conspicuously lacking previously). This proved immediately self-defeating – prices pulled back right away, as they have done almost every time when...

Swiss Franc The Euro has fallen by 0.39% at 1.134 EUR/CHF and USD/CHF, February 28(see more posts on EUR/CHF and USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: News that the US-North Korean summit ended abruptly without an agreement spurred losses in equities and gains in the Swiss franc and Japanese yen. US President Trump willingness to walk away from the talks is important in and of...

Head of the Swiss State Secretariat for Economic Affairs (SECO), Marie-Gabrielle Ineichen-Fleisch, speaking in Geneva on Thursday. After some years of steady but low growth, the Swiss economy expanded by 2.5% in 2018 on the back of a positive global situation. The figures, released on Thursday by the Swiss State Secretariat for Economic Affairs (SECO), showed growth last year that was a hair below expected (+2.6%) but...

26.02.2019 – The hotel sector in Switzerland registered 38.8 million overnight stays in 2018, i.e. the best result to date. This represented a growth of 3.8% (+1.4 million) compared with 2017. Foreign demand totalled 21.4 million units, an increase of 4.5% (+921 000) and its best performance in 10 years. Swiss overnight stays increased by 2.9% (+493 000), thus reaching the record value of 17.4 million overnight stays....

What gets them into trouble is how they just can’t help themselves. Go back one year, to early 2018. Last February it was all-but-assured (in mainstream coverage) that the US economy was going to take off. The bond market, meaning UST’s, was about to be massacred because the overheating boom would force a double shot down its throat. Not only would safety instruments like UST’s have to contend with the unemployment...

U.S. Mint suspends silver bullion coin sales after sales double in February Silver investment demand for American Eagles (one ounce) silver bullion coins depletes West Point Mint inventories U.S. Mint suspended sales of American Eagle (1 oz) coins on Feb. 21 because it had no coins left to sell With increased investment demand, the Mint is experiencing a resurgence in steady demand with sustained purchases of the...

We tried a CNBC hook-up in Asia via Skype on February 25. I did not think there would be a clip, but I stumbled on it looking for something else. Click here for the roughly 2.5-minute interview done from my apartment in NYC. The discussion is on Brexit and sterling. [embedded content] Related posts: Cool Video: Clip from CNBC Squawk Box FX Daily,...

Swiss Franc The Euro has fallen by 0.21% at 1.1366 EUR/CHF and USD/CHF, February 27(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: As the North American session is about to begin, the markets await developments in the UK House of Commons where a vote is expected today on Prime Minister May’s proposal to hold votes on around March 12 on the Withdrawal Bill and no...