Tag Archives: 3) Swiss Markets and News

© Eva Bocek | Dreamstime.com This week, Switzerland’s Federal Statistical Office published the latest cantonal GDP figures. Switzerland’s overall GDP growth in 2019 was 1.2%. However there were wide cantonal differences. The six fastest growing cantons in 2019 were Obwalden (+3.5%), Glarus (+3.2%), Zug (+2.7%), Basel-City (+2.6%), Luzern (+2.6%) and Valais (+2.5%). At the other end of the spectrum were the cantons ofBasel-Landschaft (-0.1%), Nidwalden (-0.3%) and...

Jessica Davis Pluess Companies come to Switzerland for tax reasons all the time. Should that be illegal? It’s fairly common to find companies that are “based” in Switzerland but do very little business in the country. These aren’t shell or letterbox companies in many cases. They have real people, in real offices but what they do here is miniscule compared to their activities outside the country. A couple weeks ago, the NGO Bread for All reportedExternal link on such...

US technology giant Google argued that it had the capabilities to offer the cloud data services to Switzerland. Keystone / Bernd Von Jutrczenka The Swiss federal authorities can proceed with awarding a cloud computing contract to five US and Chinese companies, including Amazon, Microsoft and Alibaba, after Google dropped an appeal against the decision to leave it out of the project. “The appeal lodged within the framework of the procedure having been withdrawn, the...

The holes were caused by tunneling work under the tracks carried out by a private company, which was working on a thermal energy project using water from Lake Geneva to heat an industrial zone not far from the train line. Keystone / Jean-christophe Bott The main rail link between Geneva and Lausanne in southwestern Switzerland will not re-open until Friday morning, Swiss Federal Railways (SBB/CFF) has confirmed. The line has been suspended since Tuesday after land...

Paraquat has been sold in the US since the 1960s and through acquisitions, mergers and spin-offs it ended up in Syngenta’s product portfolio. Keystone / Charlie Neibergall The Swiss-based multinational has already set aside $187.5 million (CHF 171 million) to settle legal cases filed by farmers exposed to paraquat. But the total bill could run into billions as lawsuits pile up. American farmer Doug Holliday has helped feed the nation for decades, growing corn and...

Swiss expats have found it increasingly difficult to get the most basic banking services in recent years. © Keystone / Gaetan Bally Digital bank Yapeal is offering basic accounts to Swiss people living in neighbouring countries that undercut the rising fees of mainstream competitors. Swiss expatriates have long complained that banks in their homeland are giving them a rough deal with extra costs and account closures. Attempts by the Organisation for the Swiss...

In July 2021, the chemical firm Lonza said it would start its ten-year clean-up of the hazardous waste landfill site at Gamsenried, canton Valais, from 2023-2024. The site was used by Lonza to deposit its production residues from 1918 to 1978. This photo was taken in 1987. Keystone The widespread dioxin pollution uncovered in Lausanne has surprised many and raised concerns about the health consequences, clean-up costs and extent of the problem. The small Alpine...

Part of the astronomical clock at the Cathédrale Saint-Jean de Besançon Philip Bird / Alamy Stock Photo Just a short hop from the Swiss border, the walled city of Besançon is a showcase of centuries of French watchmaking knowhow. Within its labyrinth of pristine streets are many secret courtyards, where, behind imposing doors, independent watchmakers carry forward its best-known traditions in what is considered France’s capital of watches. The city’s biggest...

For the first time since starting the Future of Finance Challenge in 2015, UBS has presented a Female Founder Award as part of its Future of Finance Challenge. Around one-third of the overall entries qualified for this award. Kimberley Abbott of Vested Impact won the Female Founder Award. This year’s «UBS Future of Finance Challenge» was a huge success with 475 high-quality submissions, from which the four winners of the overall competition were chosen. Fairly AI won...

As energy prices rocket, the meter is ticking on Switzerland’s future electricity security. © Keystone / Christian Beutler Households and businesses across Europe are facing a huge rise in electricity and heating costs this winter. Price hikes in Switzerland have so far been comparatively cushioned, but there are warnings of a potential energy crunch in the next few years. My specialty is telling stories, and decoding what happens in Switzerland and the world...