Stocks Fall, Gold Gains on Trump’s Tariff Threat: Markets Wrap
This content was published on
(Bloomberg) — Stocks dropped along with the dollar as President Donald Trump ratcheted up trade tensions ahead of next week’s deadline for higher tariffs.
Treasuries Get Hit as Stocks Jump on Jobs Surprise: Markets Wrap
This content was published on
(Bloomberg) — Bonds fell and the dollar rose as stronger-than-forecast employment growth soothed concern the US economy is poised to slow, stanching speculation the Federal Reserve will need to cut interest rates any time soon. Stocks hit fresh all-time highs.
Glencore Has Share Pledges as Security for Prax Debt
This content was published on
(Bloomberg) — Commodity trading giant Glencore Plc has security mechanisms as part of its agreement with the owners of the Lindsey oil refinery in northern England that give it a claim on parts of the company if the debt it’s owed isn’t repaid.
Bessent Says Trump to Decide on Any Extension of July 9 Tariff Deadline
This content was published on
(Bloomberg) — Treasury Secretary Scott Bessent said that President Donald Trump will make the call on any extension of talks with trading partners past the July 9 deadline for higher tariff rates to kick back in.
Apollo-Backed Athora Offers $7.8 Billion for UK Insurer PICG
This content was published on
(Bloomberg) — A European insurance group backed by Apollo Global Management Inc. offered to acquire a specialist UK insurer that’s partly owned by a company controlled by South African billionaire Johann Rupert for about £5.7 billion ($7.8 billion).
Zurich Insurance Buys Canadian Insurance Technology Firm BOXX
This content was published on
(Bloomberg) — Zurich Insurance Group AG agreed to buy BOXX Insurance Inc, a Canadian cyber risk management firm, marking the Swiss insurer’s latest push into the insurance technology sector.
Switzerland, Germany Sign Pact for Joint Sky Shield Initiative
This content was published on
(Bloomberg) — Switzerland and Germany have agreed to jointly purchase multiple ground-based air defense systems as part of the European Sky Shield Initiative, in a push by the two countries to ramp up collaboration in defense procurement.
Swiss Inflation Rate Unexpectedly Rises in Relief for SNB
This content was published on
(Bloomberg) — Swiss consumer prices unexpectedly rose in June, offering respite to the central bank after a dip below zero forced it to end a period of positive borrowing costs.
Novartis Blockbuster Antibody Drug Fails in Late-Stage Trial
This content was published on
(Bloomberg) — Novartis AG’s drug Cosentyx failed in a late-stage study of patients suffering from inflammation in their blood vessels, a blow to the Swiss company’s efforts to find new uses for the blockbuster medicine.
S&P 500 Hits Record on Vietnam Deal as Tech Climbs: Markets Wrap
This content was published on
(Bloomberg) — A rally in several big techs fueled gains in stocks, with the market extending its advance as President Donald Trump said he reached a trade deal with Vietnam. Treasuries fell as a selloff in UK bonds underscored deficit worries. The dollar was steady.
Swiss-Norway Group and South America’s Mercosur Agree on Free-Trade Deal
This content was published on
(Bloomberg) — The European Free Trade Association of Switzerland, Norway, Liechtenstein and Iceland concluded negotiations on a free-trade agreement with South America’s Mercosur countries in a push for more transatlantic commerce.
Ex-UBS CFO Wins UK Top Court Case Over £133 Million Divorce
This content was published on
(Bloomberg) — A former UBS Group AG executive can hold onto the majority of his wealth after the UK’s top court ruled in his favor in a divorce fight with his ex-wife over the split of their £133 million ($182 million) estate.
Private Equity Is Struggling to Overcome Doubts on Valuations
This content was published on
(Bloomberg) — Blackstone Inc., Apollo Global Management and a host of private-capital mammoths have pledged to invest hundreds of billions of dollars in Europe over the next decade. But the immediate outlook for buyout deals is still looking pretty dicey.
Swissquote Ordered by Regulator to Slash Suspicious Activity
This content was published on
(Bloomberg) — Switzerland’s financial watchdog has stepped up pressure on trading platform Swissquote Group Holding SA to do more to curb suspicious activity amid a surge in attempted fraud and hacks.
Wall Street Revives Big-to-Small Stock Rotation: Markets Wrap
This content was published on
(Bloomberg) — Wall Street traders drove a rotation out of the tech megacaps that had powered stocks from the brink of a bear market. Bond yields rose as an increase in job openings dimmed the outlook for Federal Reserve rate cuts. The dollar remained at its lowest since 2022.
Vitol Launches Mine Finance Fund as Competition Grows for Metals
This content was published on
(Bloomberg) — Vitol Group and Breakwall Capital have formed a credit fund targeting mining companies in the Americas, as competition among traders for copper and other metals contracts heats up.
Swiss to Vote on 50% Inheritance Tax for Super-Rich in November
This content was published on
(Bloomberg) — Swiss voters will decide in November if the country should inflict a large inheritance tax on the estates of very rich people.
IMF Backs Swiss Bank Reform Push Amid UBS Capital Standoff
This content was published on
(Bloomberg) — Switzerland’s planned financial regulation reforms are “bold” and should make the country more resistant to crises, the International Monetary Fund said, giving tacit support to the government in its standoff over capital with UBS Group AG.
Swiss Manufacturing Jumps on Hope for Tariff Deal With US
This content was published on
(Bloomberg) — Swiss manufacturing rose much more than anticipated in June, reflecting hope that a solution to the ongoing tariff spat with the US can be found as the July 9 deadline looms.
Train vs plane: would you take a direct train between London and Geneva?
Eurostar is planning to run direct trains from Britain to Germany and Switzerland from the early 2030s. Would you favour the train over the plane? If not, why not?
