Föhrenbergkreis Finanzwirtschaft

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Archive for 3. August 2017

Unicredit schlägt sich nach radikalem Umbau besser als gedacht

Posted by hkarner - 3. August 2017

3. August 2017, 08:17 derstandard.at

Im zweiten Quartal in allen Sparten mehr Dynamik – Quartalsgewinn gestiegen

Mailand/Wien – Der radikale Umbau der italienischen Großbank Unicredit zahlt sich weiter aus. Im zweiten Quartal schnitt die Muttergesellschaft der österreichischen Bank Austria besser ab als erwartet. In allen wichtigen Sparten habe das Geschäft an Schwung gewonnen, erklärte Bankchef Jean Pierre Mustier am Donnerstag.

Der Quartalsgewinn verbesserte sich im Vergleich zum Vorjahreszeitraum um drei Prozent auf 945 Millionen Euro. Analysten hatten mit einem Rückgang auf 587 Millionen gerechnet. Die Erträge – die gesamten Einnahmen – schrumpften zwar um acht Prozent auf 4,9 Milliarden Euro. Das war aber immer noch besser als Analysten erwartet hatten. Zudem hatten auch andere Banken angesichts mauer Kapitalmärkte im vergangenen Quartal einstecken müssen. Den Rest des Beitrags lesen »

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Why Are Illiberal Democrats Popular?

Posted by hkarner - 3. August 2017

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Surviving in a Post-Truth World

Posted by hkarner - 3. August 2017

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Protectionism Will Not Protect Jobs Anywhere

Posted by hkarner - 3. August 2017

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European Bank Cuts Funds to VW Because of Emissions Fraud

Posted by hkarner - 3. August 2017

Date: 02-08-2017
Source: The New York Times

A Volkswagen factory in Dresden, Germany. The cut in financing from the European Investment Bank is the latest blow to the automaker’s reputation.

FRANKFURT — Volkswagen suffered another blow to its reputation on Tuesday after it was barred from receiving European Union research financing over allegations it misused a previous loan to cheat on emissions.

The decision by the publicly owned European Investment Bank at least temporarily deprives Volkswagen of low-cost financing it badly needs for research and development during a period of technological upheaval in the automobile business.

Traditional carmakers are struggling to keep up with upstarts like Tesla to develop electric vehicles capable of driving themselves. Volkswagen’s resources have already been depleted because of the company’s admission in 2015 that it programmed 11 million cars to fool regulators. Penalties and legal settlements in the United States totaled more than $22 billion, and cases in Europe are pending. Den Rest des Beitrags lesen »

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Brexit Could Lead to the Loss of 17,000 U.K. Investment Banking Jobs, Study Shows

Posted by hkarner - 3. August 2017

Date: 01-08-2017
Source: The Wall Street Journal

Such a departure won’t mortally wound the country’s reputation as a financial hub but could reduce efficiencies

The Canary Wharf financial, business and shopping district in London, U.K., on Monday. Up to 17,000 investment banking jobs could leave the U.K. soon after Brexit, according to estimates by consulting firm Oliver Wyman.

LONDON—Up to 17,000 investment banking jobs could leave the U.K. soon after Brexit, according to the latest estimates by consulting firm Oliver Wyman.

With the U.K. government negotiating an exit from the European Union, there is a chance that banks will lose their rights to sell products to EU clients. To offset this, banks are putting into place contingency plans to build out their operations in the trade bloc. Based on those initial plans, Oliver Wyman says 15,000 to 17,000 wholesale banking jobs are set to be relocated into the EU. Over the longer term, that number could rise to 40,000, the firm says.

There are around 560,000 people employed in banking in the U.K, so such a departure is unlikely to mortally wound the country’s reputation as a financial hub. But it could reduce the efficiencies of having Europe’s investment banking services located in one place, the firm added. Den Rest des Beitrags lesen »

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