Tag Archives: 3) Swiss Markets and News

Train connections to Switzerland were completely cancelled on Tuesday and several flights between Zurich and Paris were also affected. (Keystone) - Click to enlarge Nationwide strikes in France against railway reforms have resulted in all rail connections to Switzerland being cancelled on Tuesday. The so-called Black Tuesday marked the first day of a series of strikes expected to last until the end of June....

Comparing the most recent statistics on Swiss consumer inflation to those in 1993 reveals a steep drop in the percentage of spending allocated to food. © Tero Vesalainen | Dreamstime.com - Click to enlarge When statisticians calculate consumer price rises they look at the prices of a standard basket of goods. In 1993, food and non-alcoholic beverages made up 14.3% of the value of this standard basket. By 2018, the...

Swedish businessman Lundgren has been EasyJet's chief executive since December 2017. (Keystone) - Click to enlarge In an interview given to the SonntagsZeitung on Sunday, EasyJet CEO Johan Lundgren described the company’s strategy for increasing its already-growing share of passengers in the Swiss market. Lundgren told the German-language paper than in recent years, the low-cost British airline has counted...

When Geneva’s finances make the news it is typically bad. At the end of 2016, the canton had debts of CHF 12.5 billion, equal to 153% of its income. In January 2018, the rating agency Standard and Poors gave Geneva a negative outlook citing risks related to the canton’s poorly funded public pension scheme. © Sam74100 | Dreamstime.com - Click to enlarge This time the news is good. The CHF 80 million budget deficit...

The logo at this Swiss petrol station is clean, but the Shell name is linked to two criminal investigations involving Swiss bank accounts. (Keystone) - Click to enlarge Royal Dutch Shell has filed a criminal complaint against a former employee it suspects of stashing kickbacks from the sale of a Nigerian oil field in Swiss bank accounts. The energy company is already being investigated over another deal...

Petroplus went bankrupt after banks pulled the plug on financing (Keystone) - Click to enlarge Climate fund payments made to now-bankrupt Swiss oil refiner Petroplus cannot be reclaimed by creditors as they constituted a business arrangement that brought benefits to contributors as opposed to a gift. This ruling from Zurich’s highest court has stopped a CH15 million ($16 million) claim in its tracks, barring...

Tidjane Thiam, CEO of Credit Suisse, as seen in February (Keystone) - Click to enlarge Credit Suisse Chief Executive Tidjane Thiam earned slightly less in 2017 during his third year on the job, the bank said on Friday. The news comes at a time of scrutiny over executive pay and bonuses. Thiam earned CHF9.7 million ($10.26 million) last year, a 5.3% drop on 2016, Switzerland’s second-biggest bank said. “The...

A boost to investment and net exports from the tailwind of strong external demand, together with faster expansion of household spending owing to rising employment, are forecast to lift GDP growth to around 2¼ percent in 2018, said the IMF in a statement referring to Switzerland issued on 26 March 2018. © Tibor Ritter | Dreamstime.com - Click to enlarge On the downside the IMF said: rising international trade tensions...