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Home / Tag Archives: 3) Swiss Markets and News

Tag Archives: 3) Swiss Markets and News

SNB returns to quarterly profit thanks to Swiss franc weakness

SNB Vice President Martin Schlegel. Keystone / Michael Buholzer The Swiss National Bank (SNB) returned to a quarterly profit because of the weakness of the Swiss franc, potentially helping officials to rebuild the central bank’s depleted capital base. The Zurich-based institution notched up a gain of CHF58.8 billion ($64 billion) in the first quarter, according to a statement on Thursday. That’s the strongest start to the year on record. The largest part of its...

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Luftfahrtindustrie: Rückblick auf 2023 und Prognose für 2024

Die Luftfahrtindustrie ist ein integraler Bestandteil des globalen Transportsystems und verbindet Menschen und Güter über große Entfernungen hinweg. Im Jahr 2023 zeigte die Branche trotz beispielloser Herausforderungen aufgrund der COVID-19-Pandemie Widerstandsfähigkeit und Anpassungsfähigkeit. Während wir uns auf das Jahr 2024 vorbereiten, wollen wir uns die Zahlen aus dem Jahr 2023 genauer ansehen und die Prognose für den Luftfahrtsektor im kommenden Jahr...

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Switzerland braced for wave of bank staff layoffs

Redundancies at Switzerland's largest bank will test the capacity of the financial sector to absorb jobs. Keystone A year ago Credit Suisse staff were stunned by the sudden demise of their bank. Many are now fighting for their careers with 3,000 Swiss posts set to be axed by their new employer UBS, starting this year....

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UBS must build up more equity, says Swiss government

UBS already has to build up additional equity capital because it has become much larger as a result of the Credit Suisse takeover, Finance Minister Karin Keller-Sutter said. KEYSTONE/© KEYSTONE / MARTIAL TREZZINI In order to better protect taxpayers from the corporate failure of a systemically important bank in future, the Swiss government...

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Investigation into collapse of Credit Suisse beset by delays

Executives tried to explain themselves at Credit Suisse’s last AGM. KEYSTONE/© KEYSTONE / MICHAEL BUHOLZER In March 2023, Credit Suisse collapsed. An uncontrolled bankruptcy could only be prevented by big government aid and an emergency merger with competitor UBS. Switzerland is now waiting for a parliamentary inquiry report to reveal who was at fault as the bank disintegrated. For some, Credit Suisse’s management and ex-chairman Axel Lehmann are solely to blame for...

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CEO pay: can Switzerland compete with the US?

Novartis CEO Vas Narasimhan saw his pay nearly double over the last year. KEYSTONE/© KEYSTONE / GEORGIOS KEFALAS Swiss CEOs are some of the best paid in Europe but compared to peers in the United States, their salaries look modest. Some in the Swiss pharmaceutical industry see this as a problem.   Jessica covers the good, the bad, and the ugly when it comes to big global companies and their impact in Switzerland and abroad. She’s always looking for a Swiss...

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SWISS reports highest ever profit 

SWISS’s turnover totalled CHF5.3 billion last year, the airline announced on Thursday KEYSTONE/© KEYSTONE / URS FLUEELER Swiss International Air Lines (SWISS) saw record operating profit last year following a return to pre-pandemic revenue levels. SWISS’ turnover totalled CHF5.3 billion ($6 billion) last year, the airline announced on Thursday, a significant increase on the previous year’s CHF4.4 billion, and a return to 2019 levels for the first time since...

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Swiss exports to Russia suspected of evading sanctions

Swiss goods enter Russia via third countries. KEYSTON Since the beginning of the Ukraine war, Swiss exports to countries close to Russia have increased significantly – which points to a possible evasion of sanctions. Shortly after the Russian attack on Ukraine, Western countries imposed sanctions on Russia. On February 28, 2022, Switzerland also reacted and adopted the EU sanctions. Since then, exports to Russia have been banned, with some exceptions such as...

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Switzerland’s marriage tax penalty back in the spotlight

Married couples in Switzerland are taxed together, unlike unmarried couples who are taxed individually. This often acts as a tax disincentive for one spouse to work, disproportionately affecting women. For many years, certain political parties have been pushing to remove what is essentially discrimination on the basis of marital status. The issue came back into the limelight this week in the run up to a 27 March 2024 deadline for the government to respond to an...

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More than 17,000 drivers fined in a month on one Zurich street

At the end of September 2023, driving was banned on a 60 metre section of Langstrasse in Zurich. To enforce the ban, cameras were later set up on 8 January 2024 to catch and fine errant drivers. Since then 17,310 fines have been issued. © Thomas-Stoiber – Dreamstime.comThe driving ban, which excludes buses, was introduced to make the area more cycling friendly and applies from 5:30 a.m. to 10 p.m. At CHF 100 each, the recent fines have generated 1.7 million of...

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