| Zurich Market Talk - 21-09-2011 |
| 20.09.11 22:47 | |
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Gurit: New Business Unit Engineered Structures formed to address additional composite market opportunities. In order to more rigorously address new market opportunities for composite applications, Gurit is bundling its world-leading composite structural engineering skills with business development and rapid prototyping resources in a new dedicated business unit called Engineered Structures. Link: Click Here Economy ******** Confidence grinds lower. Sentiment has continued to sour over the past 24 hrs. The Greek Finance Ministry may be optimistic that last night’s conference call between themselves and their Troika creditors brought them close to an agreement on the steps that Greece needs to take in order to secure the next tranche of its bail-out, but the markets are clearly sceptical. Link: Click Here BlackRock: European Risks Continue to Dominate. We have been saying for some time that the key risk for the world’s economy and financial markets is the deteriorating situation in Europe. There has been much discussion about potential solutions among policymakers, but unfortunately little real action. Last week, many of the world’s central banks, including the European Central Bank, the US Federal Reserve, the Bank of Japan and the Bank of England announced coordinated actions that are aimed at easing pressure on European banks. In addition, European governments are engaging in talks about creating additional programs that may help the debt crisis, but significant action has yet to occur. Link: Click Here Germany: ZEW economic expectation index continue to trend down in September. The ZEW economic expectation index continues to trend downward in September as sentiment remains downbeat owing to a combination of factors, including scepticism concerning global GDP growth outlook and the ongoing sovereign debt crisis in the euro area. Link: Click Here Banking sector employment: A major issue. At the end of 2010, the banking sector employed 108,000 people in Switzerland, representing nearly 3.2% of the country's total workforce. If one includes independent asset managers and securities traders the figure tops 141,000 jobs. However the sector comes under pressure from several sides which, in turn, affect employment. I refer to the following three issues: Link: Click Here |
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