Tag Archives: 3.) Swissinfo Business and Economy

Swiss chocolate makers have struggled to eradicate child labour in the hazelnut supply chain originating in the Black Sea region of Turkey. Dominique Soguel The world has witnessed the first rise in child labour in 20 years and the coronavirus crisis threatens to push millions more minors into the same fate, the United Nations said on Thursday. Swiss multinationals from food giant Nestlé to mining titans Glencore and Trafigura have struggled to eradicate child labour...

Calm waters, but for how long? Zug is one Swiss canton that could come under pressure to raise corporate taxes Keystone / Alexandra Wey The decision by the leading industrial nations (G7) to support a global minimum tax of 15% for large corporations is not good news for Switzerland, according to Swiss economists. Certain cantons in particular would come under pressure. “The tax havens – often very small states – will suffer, but that’s also the goal,” Jan-Egbert...

The Federal Electricity Commission (ElCom) has again voiced concern about Switzerland’s ability to secure sufficient power supplies in the coming years. The majority of Switzerland’s electricity is produced by hydropower. © Keystone / Christian Beutler While there is no immediate danger of shortfalls in the Alpine state, the electricity watchdog said on Thursday that more should be done to ensure domestic energy security in the mid to long term. Switzerland is...

Business and human rights experts argue that Switzerland should seize the opportunity to require responsible sourcing of cobalt, an in-demand mineral whose risks to human rights are often overlooked. Cobalt must be included in Swiss Responsible business Legislation - Click to enlarge The government is holding consultations on a new law to hold companies accountable for the adverse impact of their operations on people after the Responsible Business Initiative failed...

A computer image of the planned underground logistics network. Cargo sous terrain Goods that are normally trucked on busy Swiss roads are a step closer to travelling underground on driverless vehicles after an ambitious cargo project got a first legislative go-ahead. Born in London, Simon is a multimedia journalist who has worked for www.swissinfo.ch since 2006. He speaks French, German and Spanish and covers the United Nations and other international...

Today, airplanes account for 2-3% of global carbon dioxide (CO2) emissions, but their share has been growing rapidly and is expected to triple by 2050. © Keystone / Christian Beutler The Swiss aviation sector, which includes Swiss International Air Lines and Zurich Airport, has pledged to slash CO2 emissions and make flying net zero by 2050. On Tuesday, Zurich, Geneva and Basel airports, together with SWISS, Easyjet, and the umbrella organisation Swiss Business...

David Solo’s role in supply-chain firm Greensill’s pursuit of Swiss riches was pivotal Keystone / Steffen Schmidt In late 2014, David Solo lent A$12.2 million (CHF8.5 million) to a little-known supply-chain finance group with eye-catching claims. Greensill Capital, which was trying to muscle in on a corner of finance dominated for decades by banks, vowed to make “finance fairer” and declared that it would be “democratising capital”. The cheque was helpful, but the...

Paper mountain: applications for short-time working compensation in canton Vaud, April 2020. Keystone / Jean-christophe Bott The Swiss Federal Audit Office says it is worried by a surge in fraud cases linked to the short-time working system, a key pillar of the country’s economic response to Covid-19. The office’s director Michel Huissoud told public radio SRF on Monday he was “shocked by the number of complaints, mistakes, and abuses” recorded to date. As many as...

Death threats, insults, posters vandalised or set on fire: the campaign for two initiatives against pesticides to be put to the vote on June 13 is extremely tense. This toxic climate highlights a deep malaise in the Swiss agricultural world. Scenes of vandalism are becoming regular features as two initiatives that seek to ban pesticides come to a vote in June. Union suisse des paysans “My children live in fear because they have suffered attacks and insults on social...

In Brussels there was shock and anger. In Switzerland, quiet celebration and relief — but, for some, doubts about what exactly comes next. An employee checks an oscillating surgical bone saw blade at the company Gomina in Niederwald, canton Valais, Switzerland, in 2018. The Swiss medical devices sector, which exports almost half of all devices to the EU, is expected to be affected by Switzerland’s decision to pull out of an institutional framework agreement with the...