Tag Archives: 3) Swiss Markets and News

So far, Switzerland’s financial sector has escaped major cyber attacks unscathed according to the watchdog unit. The chief executive of the Swiss financial watchdog, Mark Branson, has called for the creation of a national cyber defence centre. In an interview with the SonntagsZeitung newspaper, Branson reiterated that Switzerland was lagging on safety standards behind other financial centres. Both the awareness and the...

Time to say good buy? Visitors at the SIHH last year The Salon International de la Haute Horlogerie (SIHH) has opened in Geneva with 35 watch brands showing off their wares. SIHHexternal link will run until Thursday, when it is open to the public, who must register and pay CHF70 ($71.20) in advance. It is the first watch fair of the year and important in terms of setting trends, particularly in the luxury segment. A...

Zinke’s new employer invests in fintech, blockchain, cyber security and energy projects. Former United States interior secretary Ryan Zinke has landed his first job since leaving the Trump administration two weeks ago. Zinke has joined investment company Artillery One as managing director, swissinfo.ch has learned. Zinke ended his nearly two-year stint as US Secretary of the Interior at the beginning of this year...

© Byvalet | Dreamstime.com On 28 December 2018, Italy issued government bonds maturing in 2028 at an effective interest rate of 2.7%1. Interest rates like this combined with the scale of Italian public debt (157% of GDP) mean Italian taxpayers spend more on public debt interest than they do on education. In 2015, Italy spent 4.1% of GDP on public debt interest and only 2.8% of GDP on education. This week, Switzerland...

© Alexey Novikov | Dreamstime.com Volatile markets have been reshuffling the ranking of the world’s most valuable companies. Over the course of the last six months, Nestlé overtook Royal Dutch Shell to become Europe’s most valuable company. At the end of June 2018, Royal Dutch Shell had Europe’s highest market capitalisation (US$ 293 billion), making it the world’s 13th most valuable company, while Nestlé ranked 21st...

The Swiss authorities are questioning the role of aircraft workers stationed in politically sensitive places away from the home base (pictured) near Lucerne. A Swiss aircraft manufacturer may have broken the law through part of a contract signed with Saudi Arabia. The foreign affairs ministry has begun a deeper investigation. Tasked with helping to maintain military training aircraft, 12 Pilatus employees are working in...

© Rawpixelimages | Dreamstime.com Reaching the official retirement age1 is an important milestone for many people. Some look forward to it while others dread it. Some dreading it would prefer to continue working either because they enjoy their work or would like the extra income. Some feel they are being systematically and unfairly labelled too old to work. A survey by the bank UBS showed that many people now don’t feel...

SNB President Thomas Jordan looks back on a weak annual results following a bumper year in 2017. The Swiss National Bank (SNB) says it expects to report a loss of about CHF15 billion ($15.3 billion) for 2018, mainly because of a weak performance of foreign currency positions. In a report on provisional annual calculations, the SNB said on Wednesday that the federal and cantonal authorities would nonetheless still...

Along with Migros, Coop is one of the leading grocery supermarket chains in Switzerland. Swiss supermarket chain Coop is refusing to stock products from food producing giant Mars in a dispute over prices. The retailer is part of a European buying consortium whose other members will also boycott Mars, Twix and Bounty confectioneries. The dispute is over how much retailers must pay for the good they stock on their...

There has been strong construction activity in Switzerland over the last two or three years The unemployment rate in Switzerland averaged 2.6% in 2018, a ten-year low, after strong economic growth in the first six months of the year, according to the State Secretariat for Economic Affairs (SECO). The department said just over 118,000 people were registered with regional job centres during 2018 – 17.5% fewer than the...