Swisscom must temporarily suspend new fibre-optic partnerships. Following the report and subsequent statements from the Secretariat of the Competition Commission (ComCo) on the partnership agreements for fibre-optic expansion, Swisscom feels compelled to carefully examine all agreements concluded to date with its partners in order to determine whether the partnership model can be adapted at reasonable business risk. New partnership agreements that have already been negotiated cannot be signed for the time being, as the changed situation calls for a rethink of the underlying partnership model. Link: Click Here

 

Economy
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Hedging euro gravity. Concerted measures by global central banks to facilitate USD funding in Europe are likely to prove only a temporary relief to the euro. The value of positive headlines coming from global leaders expressing their support of the European Union should gradually lose bite because market worries have not been properly addressed; therefore, we expect the market to see this as a chance to sell the EUR, in spite of the already short market positioning. Link: Click Here

The Swiss National Bank (SNB) has decided, in coordination with the Bank of England, the Bank of Japan, the European Central Bank and the Federal Reserve, to offer US dollar liquidity with a term of 84 days to cover the end of the year. These tenders will be conducted in addition to the 7 day operations. The first 84-day US-dollar liquidity operation will be carried out on 12 October 2011. Link: Click Here