Germany is paying nearly 40 billion in interest on all its debts. Meanwhile, most Swiss pension funds achieved a positive performance in December, following a good November. The average return for 2023 was 4.92 percent, according to UBS.
Investments in Frankfurt office properties fell by more than 90 percent in 2023, a much steeper decline than the national average of 76 percent. In other news, the US Securities and Exchange Commission (SEC) has approved the trading of Bitcoin funds, a move that was anticipated.
Following the shortages during the COVID-19 pandemic, shipping companies are expanding their fleets at a record pace. Chinese shipyards are benefiting the most, accounting for nearly 55 percent of all new orders.
There has been a significant increase in company bankruptcies in Germany. According to the Leibniz Institute for Economic Research Halle (IWH), the number of insolvencies in December was the highest for any December since data collection began in 2016.
Prices for single-family homes are falling, according to a recent analysis by Raiffeisen Switzerland. However, more had to be paid for condominium ownership. A fake announcement about the approval of exchange-traded Bitcoin funds (ETF) briefly caused excitement in the crypto industry.
Coop, a retailer, plans to offer banking products in the future. It is working with two banks, Hypothekarbank Lenzburg and Glarner Kantonalbank (GLKB), and Liberty 3a Vorsorgestiftung in the pension sector. The partnership with Hypothekarbank Lenzburg aims to distribute banking products to Coop customers.
Coop also plans to work with GLKB, Liberty 3a Vorsorgestiftung, and other partners in the financial and service industry. This second collaboration is about products in the pension sector. GLKB plans to act as the custodian bank and asset manager of Liberty 3a Vorsorgestiftung.
Coop had its own bank in the past, which was partially listed on the Swiss Stock Exchange SIX. The Basler Kantonalbank (BKB) was the majority shareholder until it fully acquired Bank Coop in 2018. The bank was renamed Bank Cler in 2017.
Swiss banks are optimistic about the business year 2023 and expect record results. Attacks on merchant ships in the Red Sea have significantly impacted global container shipping. The amount of containers transported there has dropped by more than half. Germany’s state deficit amounted to 91.5 billion euros by the end of September 2023, nearly 26 billion more than the previous year.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Europe |
| Countries | 🇩🇪 🇨🇠🇺🇸 |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | None |
| Companies | Hypothekarbank Lenzburg, UBS, Glarner Kantonalbank (GLKB), Raiffeisen Schweiz, Leibniz-Institut für Wirtschaftsforschung Halle (IWH) |
| Currencies | Bitcoin |
| Securities | None |
