SNB & CHF

The Raiffeisen bank branch in Ernen, canton Valais, Switzerland in 2018 Switzerland’s third-largest bank says it will cut up to 200 jobs to save CHF100 million ($100 million) this year. Raiffeisen is reorganising and undertaking a cost-cutting programme. This follows a recent fraud allegation scandal involving its former chief executive. The co-operative bank said in a statement on Thursdayexternal link: “In addition to...

© Sabine Katzenberger | Dreamstime.com Comparing 2018 to 2012, thefts in Switzerland fell by nearly half, according to the Federal Statistical Office. In 2012, there were a record 219,000 thefts recorded in Switzerland. By 2018, the figure had fallen to 112,000, a drop of 49%. Over the same period, all categories of theft with the exception of fraud were down. Car theft (-13%), bike theft (-20%), break-ins (-51%) and...

Zombification / Japanification is not success; it is only the last desperate defense of a failing, brittle status quo by doing more of what’s failed. A recent theme in the financial media is the Japanification of Europe.Japanification refers to a set of economic and financial conditions that have come to characterize Japan’s economy over the past 28 years: persistent stagnation and deflation, a low-growth and...

Swiss Franc The Euro has risen by 0.03% at 1.1219 EUR/CHF and USD/CHF, April 05(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: Comments by Chinese President Xi, recognizing substantial progress in trade, helped boost sentiment after the US-China negotiators failed to set a date for the meeting between the two presidents. Although we have argued that the German...

The campaigners say 99% of tax payers shoulder the burden of the wealthiest citizens in Switzerland. (© Keystone/Peter Klaunzer) The leftwing Young Socialist group has handed in the necessary signatures to force a nationwide vote on its proposal to increase tax on capital revenue in Switzerland. The initiative intends to tax dividends and interest on wealth by a factor of 1.5 compared with regular income tax. The...

Social media offers hope of achieving higher online social status without having to succeed financially in a winner-take-most economy. I’ve often addressed the decline of social mobility and the addictive nature of social media, and recently I’ve entertained the crazy notion that the two dynamics are related. Why Is Social Media So Toxic? I have long held that the decline of social mobility–broad-based opportunities to...

Increased US export capacity would probably force OPEC+ to change its current tactics. After last year’s collapse, oil prices have found support since the beginning of this year for several reasons. At this stage, the main question is whether the recent surge in prices is sustainable or whether we will see renewed oil price volatility, with the possibility of a repeat of 2018. The recent release of the International...

Swiss Franc The Euro has fallen by 0.06% at 1.1207 EUR/CHF and USD/CHF, April 04(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The global capital markets are subdued despite several macro developments. The US and China may announce as early as today when the two presidents will meet to ostensibly sign a trade deal, while House of Commons effort to block a no-deal...

European Parliament elections, to be held between 23 and 26 of May, will be a key political event in Europe. However, we expect limited short-term impact, given the European Parliament’s limited ability to set Brussels’ agenda. European Parliament (EP) elections will be a key political event in Europe, a form of ‘midterm election’ in which the electorates can state their approval or disapproval of their...

Overconsumption leads to overproduction and in fast fashion’s case a lot of clothes from previous collections are thrown out when the new collection is put on the racks. Some companies have been criticised for burning the remaining unsold clothes: would “slow fashion” solve the problem? Nouvo brings you short videos about Switzerland, Swiss current affairs and the wider world. Keep up to date and watch the videos wherever you are, whenever you like. --- swissinfo.ch is...