Tag Archives: 3.) Swissinfo Business and Economy

Swiss Life at its peak was responsible for over $1 billion in portfolios for US clients. © Keystone / Christian Merz Switzerland’s largest insurance company Swiss Life has agreed to pay CHF70 million ($77.4 million) and enter a deferred prosecution agreement in the United States to resolve accusations it conspired to help wealthy Americans to avoid taxes. The company will pay a $25.3 million fine plus $52.1 million in restitution and forfeiture to resolve a charge it...

Let me state from the outset, you won’t get a discount if you mention to your travel agent that you read this article when you book your trip to Switzerland this summer. But it will be nice to have you back; Switzerland – in line with much of Europe – is planning to open up to overseas visitors in a few short weeks. And since we haven’t seen you in a while, I expect you’ll be welcomed with open arms! I can assure you, the place hasn’t changed much. Of course, we have...

Anton “Toni” Piëch, co-founder of the Swiss electric car manufacturer Piëch Automotive, tells SWI swissinfo.ch why he chose Zurich and how he intends to make his mark in a highly competitive market with battery-powered cars for “purists who love technology”. Piëch, who says he wants to breathe new life into the Swiss car industry, is a scion of an Austrian-German family with a rich automobile history: his great-grandfather was Ferdinand Porsche and his father,...

A Swiss pensioners' cycling group at Solothurn, Switzerland, on July 26, 2018. © Keystone / Christian Beutler Around half of all people stop working before the official retirement age in Switzerland, according to new federal data. This content was published on May 4, 2021 - 13:32 May 4, 2021 - 13:32 RTS/sb On Tuesday, the Federal Statistical Office (FSO) reported External linkthat in 2019 between 40-50% of people started receiving their pension from their...

Top gear: The items up for auction were worn or used during important matches Keystone / Ennio Leanza Millions of Roger Federer fans around the world might be salivating at the prospect of owning some mementos of the Swiss great’s incredible career after he announced he is auctioning off a collection of personal items this summer. The 20-time Grand Slam champion, regarded by many as the greatest player ever to wield a tennis racket, is putting various items under the...

Credit Suisse has recently been in the spotlight for all the wrong reasons Keystone / Peter Klaunzer As Credit Suisse executives finalised an emergency $1.9 billion (CHF1.75 billion) fundraising from investors last week, a group of the bank’s prized super-rich clients from across Europe and Asia were on a separate Zoom call hosted by law firm Boies Schiller Flexner to plot a class-action suit against the lender. The clients had been persuaded by Credit Suisse to...

In in seven employees of Switzerland’s second-biggest telecoms company is set to lose his or her job. © Keystone/Christian Beutler Switzerland’s second biggest telecoms group, Sunrise UPC, says it will cut 600 jobs by the end of 2022, following UPC’s CHF6.8 billion ($7.4 billion) takeover of Sunrise Communications last year. About 450 redundancies are expected, representing 13.5% of the company’s 3,350 full-time posts, Sunrise UPC said in a statement on Monday. About...

Opponents argue that the anti-pesticide initiatives will harm Switzerland’s agriculture sector and undermine the country’s self-sufficiency. Anthony Anex/Keystone The director of the leading Swiss farmers’ organisation is deeply concerned about two initiatives to ban pesticide. Martin Rufer explains what voters’ approval would mean for Switzerland’s agriculture. The two proposals, to come to a nationwide ballot on June 13, are causing heated debates and have not only...

Switzerland may have to find alternative ways to welcome foreign companies to Switzerland. Keystone / Peter Klaunzer The looming shadow of a global minimum corporate tax rate could threaten Switzerland’s status as a hub for multinational company headquarters. The United States says that no country should tax companies less than 21%, a proposal that has added momentum to talks over a worldwide minimum corporate tax rate. The average corporate tax rate among Swiss...

Switzerland has introduced targets and regulations to reduce vehicle C02 emissions. © Keystone / Gaetan Bally A former employee at the Swiss Federal Roads Office (FEDRO) and two board members of a vehicle exporter have been charged with fraudulently manipulating data to avoid CO2 emissions sanctions. The Swiss federal prosecutor’s office said on Monday that the fraud had illegally saved the vehicle exporter from paying CHF9 million ($9.8 million) in financial...