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Investec Switzerland. Syngenta AG Chief Executive Officer Erik Fyrwald appointed a new head of finance as he works to complete a new strategic plan for the world’s largest agrochemical company, soon to be acquired by state-owned China National Chemical Corp. for $43 billion. © Jostein Hauge | Dreamstime.com Mark Patrick, who has been with the company for 23 years, will replace Chief Financial Officer John Ramsay, who has decided to step down at the end of September, the...

Investec Switzerland. It’s a sign the world is getting used to negative interest rates when what once seemed bizarre starts looking like the norm. © Robyn Mackenzie | Dreamstime.com Consider Switzerland, where more and more companies are taking out insurance policies to protect their cash hoards from theft or damage. “Because of the low interest rate level, we note increasing demand for insurance solutions for the storage of cash,” said Philipp Surholt at Zurich Insurance...

While subtle, the general public loss of faith in central banking has been obvious to anyone who has simply kept their eyes open: it started in Japan where in February hardware stores were reported that consumers were hoarding cash, as confirmed by the spike in demand for safes, "a place where the interest rate on cash is always zero, no matter what the central bank does." Then, as we reported just over a week ago, Burg-Waechter KG, Germany’s biggest safe manufacturer, posted a 25% jump in...

Investec Switzerland. Banks in Switzerland reduced their domestic workforce by 4.1 percent in the first half as companies combined and made cost cuts to stem declining profitability, a survey by the nation’s main bank association showed. © Yudesign | Dreamstime.com The loss totals 3,454 jobs, the Swiss Bankers Association said in its annual industry report on Thursday. The number of workers fell by 1 percent to 103,041 in 2015.“The continued low interest rate environment and...

Investec Switzerland. The Swiss Market Index, along with other European markets, is trading slightly higher this week after financials rallied on merger and acquisition rumors and hopes for improved growth. European banks, the industry group battered the most so far this year, lead gains after it emerged that Deutsche Bank AG and Commerzbank AG executives held talks about a potential merger in early August this year. Bank rally – © Valeriia Arnaud | Dreamstime.com US...

According to reinsurer, Swiss Re, over three quarters of private buildings in Switzerland have no earthquake coverage. Because earthquakes are rare and are quickly forgotten, public risk perception is low. Even Switzerland, with its well developed insurance culture is no exception. Earthquake in Abruzzo Italy – © Walter Graneri | Dreamstime.com Swiss Re describes Switzerland as a country with a medium seismic hazard. The strongest and most destructive earthquake recorded in Switzerland...

24 Heures. After the tragic earthquake in Italy, some are wondering if something similar could happen in Switzerland. Speaking to the newspaper 24 Heures, geologist Raphaël Mayoraz, says “People tend to forget, but our country has already experienced earthquakes of 6 or more.” © Cristian Andriana | Dreamstime.com The Swiss Seismological Service (SED) at ETH Zurich completed ten years of earthquake research in 2015. Their new model shows that earthquakes are a serious hazard for Switzerland...

Investec Switzerland. The Swiss Market Index along with global stocks are trading flat this week ahead of Federal Reserve’s Janet Yellen’s Friday speech at the central bank’s annual Jackson Hole Summit. All eyes on Jackson Hole – © Dan Bannister | Dreamstime.com The Federal Chairwoman’s speech at the meeting of central bank governors in Wyoming is expected to provide clues about when to expect the next rise in US interest rates. While it is unlikely that Janet Yellen will...

Switzerland’s budget for 2016 is looking better than expected. Instead of a shortfall of CHF 0.5 billion, the latest figures forecast a surplus of CHF 1.7 billion. © Zestmarina | Dreamstime.com Overall income was up CHF 1.2 billion and costs were down CHF 1.0 billion. This CHF 2.2 billion shift took the annual forecast from CHF -0.5 billion to CHF 1.7 billion. The biggest driver of the change was the effect of negative interest rates. Since last year the Swiss government has been issuing...

Submitted by Valentin Schmid via The Epoch Times, Warren Buffett claims that gold is worthless because it doesn’t produce anything. Fair point, but what if the other sectors of the economy also stop producing? “If you think of gold, the only way gold loses is if normal business and private sector cycles come back. If that is the case, gold goes back 100 dollars per ounce. The other outcomes, deflation, stagflation, hyperinflation are good for gold,” said Viktor Shvets,...