Financial Highlights in Switzerland
According to a UBS Wage study, Swiss wage agreements have given workers a wage increase of 1.1 percent, this year. However, with inflation forecast by UBS economists at 2.9 percent, real wages have fallen by 1.8 percent, the sharpest decline since 1942.
“Wage increases of just over 1%, well below the current inflation level, are unlikely to put employees in a festive mood,” said Daniel Kalt, UBS’s chief economist for Switzerland. “That restraint, however, suggests no wage-price spiral and is unlikely to fuel inflation further.”
Moneypark, the leading specialist for mortgages and real estate in Switzerland, is cutting jobs – and growing. They are positioning themselves based on its previous, successful strategy for sustainable growth. As they announced on Wednesday, the company is parting ways with twelve employees in its administrative functions. Martin Tschopp, CEO of MoneyPark, explains: “The measures that have now been implemented are essential to lay the foundation for MoneyPark’s sustainable success and to respond to the challenging market environment. We have a successful business model, strong technical platforms, products, and partnerships. In addition, we are financially stable. MoneyPark is thus operating from a position of strength and will consistently pursue its strategy.”
Financial Highlights in the World
UK: Nurses across the UK have voted to strike over pay with action expected to start by the end of the year. The strike will be the first time UK-wide action is taken by Royal College Nursing members in its 106-year history.
The RCN, which represents about two-thirds of nurses in the NHS, has asked for 5% above the RPI rate of inflation, which stands at over 12%.
USA: Yesterday, Democrats and Republicans have tested their strength after two years of the Joe Biden administration. Americans went to the polls on Tuesday to renew all 435 seats in the House of Representatives and 35 of the 100 seats in the Senate.
Financial Highlights in Companies
Yesterday, Crypto billionaire Changpeng Zhao from Binance has announced the purchase of the tumbling crypto exchange FTX.com. Binance has signed a non-binding agreement to fully acquire FTX.com, according to a social media post by Changpeng Zhao.
But today, the deal fall apart. “As a result of corporate due diligence, as well as the latest news reports regarding mishandled customer funds and alleged U.S. agency investigations, we have decided that we will not pursue the potential acquisition of FTX.com,” the spokesperson told CoinDesk.