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Credit Suisse CEO says employees will never return to office

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Credit Suisse CEO says employees will never return to office

Credit Suisse CEO Thomas Gottstein said on Monday that bank employees will never return to full-time office work.

“This is unrealistic and not what employees want,” he explained. In an interview at the World Economic Forum in Davos, the chief executive said the bank is “trying to encourage people to come back, but it ends up backfiring.”

Gottstein added that there will never be a return to the days when most employees were in the office and that for now the required rate is around 60%, but evidence shows that only 37% of Swiss bank employees are physically in the office.

The CEO of Credit Suisse joins a growing voice in Europe that supports flexible work policies to attract and retain new employees at companies. In fact, several European companies such as BNP Paribas, BBVA and the Swiss group UBS have already made changes to their teleworking policies to allow employees to work from home.

“We will never go back to the old numbers of 80 to 90 percent of people in offices,” Gottstein said.

The official also cited other factors in this new reality: “In some cities, such as London, where commuting is difficult, people prefer to stay at home one or two days a week.”

“Looking at the weekly statistics, we see that we have very few people in the offices on Mondays and Fridays, and a lot more on Tuesdays, Wednesdays and Thursdays. I think this is a trend that will continue,” he concluded. .

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Economy

Starting from this environment, there are 11 more mandatory pieces of equipment in the car.

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Starting from this environment, there are 11 more mandatory pieces of equipment in the car.

On July 6, 2022, a rule will come into effect requiring all new vehicles sold in the European Union to include new safety systems in the list of standard equipment 11.

The rule applies to all new models released for sale, and for models already on sale, a two-year adaptation period is provided.

What systems will become mandatory?

The European Union wants to reduce the number of fatal accidents in Europe, so it will oblige all car manufacturers to install a wide variety of safety equipment. Some of them are already included in the list of series of many models.

Here is the full complete list:

-Autonomous emergency braking
– Fatigue and distraction detection system
– Pre-installation of the ignition blocker breathalyzer
– Warning triangle
-Recording data in case of an accident
-Updated frontal crash test across the entire width of the car; improved seat belts
-Increased head impact area for pedestrians and cyclists; safety glass
– Smart speed assistant
– Track maintenance assistant
– Passenger Protection: Pole Collision
– Rear camera or detection system

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Economy

Bargain hunters bring profit to Europe. Oil continues to fall – markets in a minute

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Bargain hunters bring profit to Europe.  Oil continues to fall - markets in a minute

Gold recovers very weakly. Euro awaits fire test

Gold remains near six-month lows under pressure from a rally in the dollar, which currently acts as a safe haven, at a time when investors fear a recession and see the US Federal Reserve (Fed) tighten monetary policy.

The yellow metal rose 0.21% to $1,768.51 an ounce, but remained very close to its December 15 low of $1,764.07 last year. In turn, the Bloomberg Dollar Index, which compares the strength of the green note against 10 competing currencies, is at its March 2020 highs, trading at the waterline (0.03%) to 106.48.

“Gold seems to be in second place against the dollar,” Gavin Wendt said in an interview with Bloomberg. A senior analyst at MineLife explains that “gold has performed well this year, but the recent gains in the dollar have had a negative impact on gold, which is priced in dollars.”

This Wednesday, investors will be keeping a close eye on the release of the minutes of the latest Fed meeting as the market looks for clues that the central bank may raise its key interest rate from 50 basis points to 75 basis points next month. The meeting is scheduled for July 26 and 27.

In the Eurozone, the single currency is at the waterline against the dollar (0.07%) at $1.026, but remains at a 20-year low against the green note. The euro-dollar pair will be put to the test this week as analysts believe it’s only a matter of time before the euro equals the dollar, with some even acknowledging that the single currency could be worth less than the dollar.

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“It’s only a matter of time before the euro reaches parity with the dollar,” Neil Jones, head of foreign exchange at Mizuho, ​​said in defense, quoted by Bloomberg. Mario Martins, analyst at ActivTrades, goes further and even admits in statements to Negosios that “it is absolutely possible for the euro to be worth less than the dollar. It’s not an absolute case because it hasn’t happened yet, but it’s almost inevitable at the moment. Very possibly this week.”

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Fines? From now on it will be easier to keep the speed limit

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Fines?  From now on it will be easier to keep the speed limit

HAlmost 600,000 speed violations were reported in Portugal last year. A high number, which, however, is found not only in our country. That is why the European Union wanted to take action and apply in directive 2019/2144 – effective this Wednesday – a commitment for all new vehicles that are sold to be equipped with Intelligent Speed ​​Assistance (ISA).

It should be noted that this European Union standard will apply to vehicles of categories M (at least four wheels and carrying passengers) and N (at least four wheels and carrying goods and goods).

The function of this ISA system is to warn the driver of the speed limit in the lane in which he is driving. This will allow the driver to be more aware of the speed at which he is allowed to drive, although this system is for information only. ISA has no intervention features.

“The ISA system can rely on various input methods such as camera surveillance, map data, and machine learning. However, the actual presence of explicit numerical speed limit signs should always take precedence over any other information on board.

Recall that the European body aims to reduce the number of collisions by about 30% and deaths due to road traffic accidents by 20%.

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