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Goldman Sachs and Crédit Agricole have upgraded their forecasts for the Pound against the Dollar, citing a potential rally driven by USD weakness and improving UK growth. As the UK currency acts as a hedge against rising U.S. tariffs, it has recently recovered to 1.2905, exceeding some short-term targets. However, risks remain high as new tariffs could shift market dynamics, potentially benefiting the Dollar.
A new lobbying scandal in the European Parliament has emerged, with police raids linked to allegations of bribery involving Huawei. Investigators are focusing on 15 current and former MEPs, with several arrests made and offices sealed. Huawei has stated it takes the allegations seriously and is committed to cooperating with the investigation.
PSIQUANTUM has achieved a significant milestone in manufacturing photonic quantum chips at scale, addressing major hardware challenges in quantum computing. Meanwhile, India and the EU have strengthened their collaboration on AI, digital governance, and semiconductor ecosystems, committing to enhance digital cooperation, promote ethical AI, and ensure supply chain resilience. They also agreed to work on interoperability of Digital Public Infrastructures and bridge the digital skills gap through talent exchange initiatives.
The Swiss government faces challenges as recent national votes reveal a disconnect with public opinion, with three out of four government-supported initiatives rejected. Meanwhile, the chocolate industry grapples with controversies, including a class action lawsuit against Lindt & Sprüngli over heavy metals in dark chocolate, despite ongoing popularity among consumers. Additionally, a national campaign to combat gender-based violence is set to launch by the end of 2025, highlighting ongoing concerns about women's safety in Switzerland.
Cédric Wermuth, Co-President of the SP, argues that immigration is essential for Switzerland's prosperity and infrastructure, warning that limiting it could lead to hospital closures. He opposes the SVP's initiative to cap immigration and emphasizes the need to protect public services and wages in ongoing EU negotiations, which are nearing completion.
Negotiations on institutional relations between Switzerland and the EU are nearing completion, with Foreign Minister Ignazio Cassis and European Commission Vice-President Maros Sefcovic meeting to assess progress. The talks, which aim to update and expand existing agreements in various sectors, are expected to conclude by the end of the year, with a potential public vote on the agreement in autumn 2026.
Switzerland and the EU are nearing a negotiation conclusion, focusing on the free movement of persons, an electricity agreement, and Switzerland's cohesion contribution. The EU is considering concessions on immigration, while Switzerland seeks a predictable annual payment of 300-400 million euros, compared to Norway's 450 million. Final decisions are expected in December, with parliamentary discussions anticipated to extend into 2028.
Switzerland's Foreign Minister Ignazio Cassis is set to meet EU Commission Vice-President Maros Sefcovic in Bern, marking a crucial phase in negotiations between Switzerland and the EU. The talks, initially scheduled for summer but postponed due to differing positions, will focus on the cohesion contribution Switzerland pays for partial access to the European single market.
Maroš Šefčovič
People
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