The travel and tourism industry is continuing its recovery. The number of overnight stays increased noticeably in what is now the second Corona pandemic summer, and travel figures paint a similar picture. However, pre-Corona pandemic levels are still a long way off, and the recent strong spread of the delta variant of the virus is also an uncertainty factor.
Working conditions and health standards in the supply chains for the textile industry are increasingly in the public crossfire. Disasters such as those in Bangladesh have already led to a rethinking of major listed companies and have also triggered political action.
In view of the still rampant Corona pandemic, the EU Commission has recently lowered its growth forecasts for 2021. With the delays in some EU countries’ vaccination programmes, the lockdowns could also drag on, delaying the expected economic recovery, the Commission argues.
The update of our Investment Division What has occurred since yesterday In his address to the National Union of South African Students in Capetown 1966 in regards to the US-American civil rights movement Robert F. Kennedy said the following: „There is a Chinese curse that says: “May he live in interesting times” If we want […]
The year started strongly for European markets with investors favoring Italian banks and stocks. But then came the budget proposal of the new Italian government, changing the mood abruptly. Read about it in our new blog!
The heightened uncertainty over whether Italy will repay its debts and whether it will remain a member of the eurozone has led to a sell-off in securities. Our chief economist Gerhard Winzer gives an overview.
The economic environment for Italy remains challenging. The fundamental problem is the low economic growth. Although the composition of the future government is still unclear, the party programs imply a persistent reform deadlock.
Earlier this week, we convened the last Investment Committee of 2017. The general risk appetite of the team has not changed vis-à-vis the previous month (from 78.85 percent to 79 percent on our 0 – 100 percent scale). The team continues to see the future optimistically, with a resulting “risk on” stance.
This week we held our monthly Investment Committee meeting. Although only little has changed with regard to the overall economic picture, we were having a few interesting discussions that we would now like to share with you.
While banks are required to hold sufficient amounts of senior capital to be used for restructuring in the event of a bail-in where equity and junior debt do not suffice, there are still too many loopholes for political decisions on a national and European level that thwart the idea of the no-bail-out scenario for taxpayers.