SNB Introduces Stealth Negative Rate to Keep Money Markets Going
Swiss banks can hold up to an unchanged 18 times their minimum reserve requirement in sight deposits at the SNB for free. For anything over that they will be charged interest of -0.25% as the discount from the policy rate remains unchanged at 25 basis points, the institution said in a statement on Thursday.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
12 minutes ago
- Yahoo
Hitachi Rail, SYMCA partner on Supertram modernisation initiative
Hitachi Rail has entered into a 15-year technology partner framework agreement with the South Yorkshire Mayoral Combined Authority (SYMCA) to advance the South Yorkshire Supertram network in the UK. This agreement designates Hitachi Rail as the strategic technology partner for SYMCA, focusing on modernising the light rail infrastructure in the region. The initiative is part of SYMCA's strategy to enhance public transport services, improve connectivity among communities, and contribute to economic growth in South Yorkshire. SYMCA Transport Development and Capital Delivery director Tom Howard said: 'This strategic partnership with Hitachi will ensure we can work collaboratively to harness the latest technology from an internationally experienced supplier in the Light Rail sector, delivering real benefits for our passengers over the lifetime of the framework. 'We look forward to starting work together, which over the first couple of years will initially focus on systems to improve the reliability of timetable delivery alongside enhanced real-time information, making journeys smoother and more predictable for passengers.' The framework will enable Hitachi Rail to implement modern, digitally driven solutions that aim to improve both operational efficiency and the passenger experience on the Supertram system. This partnership is aligned with SYMCA's objective to develop a comprehensive public transport network that promotes sustainability. Hitachi Rail, which employs over 200 staff in Doncaster, is expected to generate additional local employment opportunities and foster skills development and supply chain involvement in the North of England, through the new agreement. Hitachi Rail UK GTS managing director and vice president Andy Bell said: 'This 15-year partnership represents more than a contract, it's a long-term commitment to South Yorkshire. 'We're bringing together our globally proven technologies, transformational delivery expertise, and local presence in the South Yorkshire region to help deliver a stronger, smarter Supertram network for the future.' In June, Hitachi Rail won a contract from Kolin Insaat Turizm Sanayi Ve Ticaret to design, supply, and oversee the installation of signalling systems at Kapıkule Station in Türkiye. The contract covers the conventional line sections from Edirne West to Kapıkule East and from Kapıkule East to Kapıkule West. "Hitachi Rail, SYMCA partner on Supertram modernisation initiative" was originally created and published by Railway Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
12 minutes ago
- Yahoo
Michelin posts H1 sales in line with market forecasts
By Mathias de Rozario (Reuters) -French tyre maker Michelin reported a 3.4% decline in sales in the first half of the year, in line with market expectations, as a fall in sales volumes was partly offset by higher selling prices. The group confirmed its previous guidance for the full year, in the absence of any further deterioration in the economic environment in the second half of the year. WHY IT'S IMPORTANT Michelin's business continues to be impacted by a slowdown in the automotive market, especially in Europe. The group, which, at the end of last year, employed more than 23,500 people at its production sites across the U.S. and Canada has, since March, been facing tariffs imposed by U.S. President Donald Trump. It is looking at accelerating investments in the United States to counter the impact of tariffs. BY THE NUMBERS Sales fell to 13.03 billion euros ($15.33 billion) in the first half from 13.48 billion euros a year ago. That compared with the forecast 13.08 billion euros in a company-provided consensus. The company recorded a 6.1% drop in volumes, mainly in its original equipment sales. The impact from the U.S. tariffs were around 65 million euros in the first half of the year. They are expected to have an impact of around 200 million euros over the full year. KEY QUOTES "Our results have been severely penalised by the fall in volumes linked to our original equipment activities, whether in the automotive or truck sectors, or in a number of specialities, including heavy goods vehicles, agriculture and infrastructure," , Chief Financial Officer Yves Chapot said on call with journalists. "We have chosen to be as localised as possible, so 70% of what we sell in the United States is made in the United States" he added on the impact of tarrifs. ($1 = 0.8499 euros) Sign in to access your portfolio
Yahoo
12 minutes ago
- Yahoo
The average rate on a 30-year mortgage slipped to 6.74% this week, Freddie Mac says, as elevated rates weigh on market
MCCLEAN, Va. (AP) — The average rate on a 30-year mortgage slipped to 6.74% this week, Freddie Mac says, as elevated rates weigh on market.
