Tag Archives: 3) Swiss Markets and News

© Anton Anton | Dreamstime.com In parts of Switzerland contact tracers can no longer cope with the rising numbers of cases, according the newspaper SonntagsZeitung. Contact tracers have the task of identifying who has been in contact with people testing positive for SARS-CoV-2, contacting those people and requesting they test and self isolate in order to break chains of infection. The tracing team working for the canton of Zurich is so overloaded it is delegating its...

Former Credit Suisse boss Tidjane Thiam apparently never felt at home in Switzerland. After losing a power struggle with Chairman Urs Rohner, he left the bank in February. © Keystone / Walter Bieri A recent story from the New York Times implied that the resignation of Ivory Coast-born Tidjane Thiam at the helm of Credit Suisse earlier this year had racist undertones, and he was the only Black CEO among the world’s biggest banks. How does the banking world –...

Former CONMEBOL presidents Juan Angel Napout (left) and Nicolas Leoz in December 2014. Napout was arrested in 2015 in a pre-dawn raid at a Swiss luxury hotel as part of the US Department of Justice’s widening bribery case into FIFA. In May 2014, Leoz was indicted along with 14 other football officials by the US Department of State on charges of bribery, racketeering and money laundering. Swiss criminal proceedings against Leoz were abandoned after his death in August...

© Xantana | Dreamstime.com On 14 October 2020, the Federal Office of Public Health (FOPH) reported 2,823 new cases of SARS-CoV-2 infection over 24 hours, a record number. In addition, FOPH reported 57 new Covid-19 hospital admissions and a further 8 deaths. When the FOPH receives test data it assigns each reported positive test to the day when the test was conducted. Because of reporting delays, most positive cases reported on any given day will be allocated to days...

Parts of the Swiss economy that depend on global demand, such as international tourism, still face a tough time Keystone Swiss economic output will shrink by 3.8% this year, a less bad coronavirus-triggered slump than previously expected, the State Secretariat for Economic Affairs (SECO) said on Monday. The latest SECO forecast was an improvement from its June outlook, when it said it expected Swiss gross domestic product (GDP) would fall by 6.2% this year, the worst...

Ruag has numerous production sites across Switzerland, notably a plant at Emmen near Lucerne that produces elements for space rockets. Keystone/Urs Flüeler The Swiss aerospace and armament company, Ruag, says it will shed up to 150 jobs by the end of next year due to the coronavirus crisis. A 30% drop in sales of aircraft structures over the past seven months and the restructuring of the company are the main reason for the job cuts notably in IT, finance and human...

© Patrik Slezák | Dreamstime.com On 12 October 2020, the Federal Office of Public Health (FOPH) reported 4,068 new cases of SARS-CoV-2 infection over 72 hours. The latest 3-day infection figure is 2.6 times the number over the same period a week ago. Switzerland’s 7-day rolling average daily new infection number has jumped from 469 to 1,215 in a week. In addition, the rate of positivity – the percentage of tests coming back positive – continues to rise. The latest...

In July 2020, a group started gathering signatures to launch a public vote to ban Switzerland’s Covid-19 contact tracing app. To launch a referendum in Switzerland organisers must collect 50,000 signatures from eligible voters within 100 days. Organisers of the “Stop Swiss Covid” initiative had until 8 October 2020 to collect 50,000 signatures. According to RTS they failed to reach the required signature milestone. When this happens the vote fails to proceed. The...

Urban hotels have been hit particularly hard by the coronavirus effect on business and international tourism. Keystone / Urs Flueeler Swiss hotels are predicting a worsening outlook, as newspapers warn thousands of jobs could be lost in the sector. According to the latest survey by sector association HotellerieSuisse  at the beginning of this month, more than a third of hotels (37%) say they will have to lay off staff in the coming months. The rate is particularly...

© Denis Linine | Dreamstime.com On 7 October 2020, the Federal Office of Public Health (FOPH) reported 1,077 new cases of SARS-CoV-2 infection over 24 hours. The latest daily infection figure, which is 2.6 time the daily number a week ago. represents a significant jump in daily infections. Switzerland’s 7-day rolling average daily new infection number has jumped from 312 to 632 in a week. In addition, the rate of positivity – the percentage of tests coming back...