Tag Archives: 3.) Swiss Info

Mark Zuckerberg appearing before the US Congress hearing into Libra. Mark Zuckerberg testified in front of the US Congress on Wednesday about his company’s plans to launch a new, global digital currency. During a marathon hearing, the Facebook chief executive and founder attempted to change the narrative surrounding Project Libra. The proposed currency has been beset by criticism from regulators and politicians, while support from corporate partners has dwindled. Mr...

Brunaupark from the air, with Credit Suisse’s Uetlihof building on the right (Keystone) In a modest Zurich neighbourhood, long-time residents of a sprawling apartment complex will lose their homes if a planned renewal project backed by a pension fund goes ahead. Similar projects are happening across Switzerland as funds invest heavily in real estate amid low interest rates. Fifteen minutes from Zurich’s main station by tram, the Brunaupark lies in the southwest of...

Some 92% when people in Switzerland are on the internet and nearly everyone under 55 is an internet user. (© Keystone / Gaetan Bally) The Swiss are using the internet more than ever but have growing angst about companies like Facebook violating their privacy. The consequence is a rising trend to self-censorship: not looking for certain information or not expressing oneself online. The average time the Swiss spend on the internet has doubled since 2011 to 25 hours a...

While the music industry has embraced technology, the luxury sector remains very conservative. (© Keystone / Salvatore Di Nolfi) Swiss luxury startups are finding it difficult to break into an established market that can be averse to change due to longstanding traditions. “When I was working for an auction house a couple of years ago the chairman handed me a gadget a client had given him. It was a USB stick and he did not know what it was.” This anecdote was shared...

The Winkelvoss twins are among the biggest cryptocurrency investors in the world. Cameron and Tyler Winkelvoss, who made a fortune out of bitcoin, are to deliver a keynote speech at next year’s Crypto Finance Conference in St Moritz. The annual gathering of cryptocurrency entrepreneurs and investors has become a fixture event, running just before the World Economic Forum’s flagship Davos summit. The twin brothers famously fell out with Mark Zuckerberg, suing the...

Environmental activists have previously called attention to the excessive use of single-use plastics by large corporations such as Nestlé, which in April 2019 received a giant monster made of plastic waste from Greenpeace at its Vevey headquarters. The Swiss food giant has been placed second behind Coca-Cola in an audit of plastic waste by a coalition of environmental organisations. The results of the analysis, released on Wednesday by the Break Free From...

Affected JTI staff are unhappy with the proposed resettlement package, and management’s lack of transparency about job cuts and future plans. Almost 100 Japan Tobacco International (JTI) staff protested outside their Geneva headquarters on Tuesday against job cuts. Around a quarter of the Geneva workforce are affected by major restructuring plans. Last month the multinational firm behind cigarette brands like Winston, Camel and Benson & Hedges...

An estimated 2,200 individuals in Switzerland are in the ultra-high net worth group, with wealth of over $50 million (Keystone) The Swiss have pulled away from the pack when it comes to assets per adult, remaining on average the wealthiest citizens in the world. In concrete terms, by mid-2019 assets per adult in Switzerland stood at $564,650 (CHF555,000), an increase of $17,790 over the previous year, according to the tenth Credit Suisse Global Wealth Reportexternal...

Demand has been highest for train trips to France, and the TGV Lyria high-speed train is planning to offer 30% more seats on its routes. (© Keystone / Gaetan Bally) Travellers in Switzerland are increasingly taking to the rails for trips abroad, with the Swiss Federal Railways reporting a 10% increase in demand for international journeys and 25% more demand for trips by night train. According to a report in the NZZ am Sonntag newspaper, demand for night train...

The Swiss National Bank presented its new CHF100 banknotes in September. (Keystone / Peter Klaunzer) Swiss banknotes are far more resistant to counterfeiters than in previous years, dramatically reducing the number of fake copies, say federal police. By contrast, far more counterfeit coins were seized last year, probably as a result of better detection methods. In 2018, a record low of 1,200 fake banknotes were discovered by police. Their combined face value amounted...