Insights

Preliminary GDP data signals slowing US economy

With growing concerns that the US economy is slowing and may be sliding into recession, Thursday’s release of second quarter real GDP was eagerly awaited by commentators.

Giorgio Pradelli, CEO of EFG International: “We achieved a strong operating result in the first half of the year.”

In the first half of 2022, EFG maintained positive growth momentum and delivered operating leverage, resulting in further improvement in profitability with a record underlying net profit of CHF 115 million (+40%).

Is this the peak for US inflation?

In June, US inflation reached its highest level in four decades. Many observers fear that this means the Federal Reserve will have to continue raising rates aggressively and that this will push the economy into recession. However, in this Macro Flash Note GianLuigi Mandruzzato notes that several factors point to an upcoming drop in inflation that could allow the Fed to take a more gradual approach after the summer.

Boris Herrmann’s Team Malizia launches new race boat

After 18 long months of planning and construction, a build time of 35,000 design hours and 45,000 man hours, Team Malizia’s new IMOCA race yacht, Malizia - Seaexplorer, was finally unveiled to the world on 19 July 2022 in Lorient, France.

All set for the EFG Swiss Open Gstaad

Countdown to the EFG Swiss Open Gstaad