Tag Archives: Business & Economy

Investec Switzerland. It’s a sign the world is getting used to negative interest rates when what once seemed bizarre starts looking like the norm. © Robyn Mackenzie | Dreamstime.com Consider Switzerland, where more and more companies are taking out insurance policies to protect their cash hoards from theft or damage. “Because of the low interest rate level, we note increasing demand for insurance solutions for the storage of cash,” said Philipp Surholt at Zurich Insurance...

[unable to retrieve full-text content]The Swiss Market Index, along with other European markets, is trading slightly higher this week after financials rallied on merger and acquisition rumors and hopes for improved growth. European banks, the industry group battered the most so far this year, lead gains after it emerged that Deutsche Bank AG and Commerzbank AG executives held talks about a potential merger in early August this year.

[unable to retrieve full-text content]Banks in Switzerland reduced their domestic workforce by 4.1 percent in the first half as companies combined and made cost cuts to stem declining profitability, a survey by the nation’s main bank association showed.

Investec Switzerland. Banks in Switzerland reduced their domestic workforce by 4.1 percent in the first half as companies combined and made cost cuts to stem declining profitability, a survey by the nation’s main bank association showed. © Yudesign | Dreamstime.com The loss totals 3,454 jobs, the Swiss Bankers Association said in its annual industry report on Thursday. The number of workers fell by 1 percent to 103,041 in 2015.“The continued low interest rate environment and...

Investec Switzerland. The Swiss Market Index, along with other European markets, is trading slightly higher this week after financials rallied on merger and acquisition rumors and hopes for improved growth. European banks, the industry group battered the most so far this year, lead gains after it emerged that Deutsche Bank AG and Commerzbank AG executives held talks about a potential merger in early August this year. Bank rally – © Valeriia Arnaud | Dreamstime.com US...

Investec Switzerland. The Swiss Market Index along with global stocks are trading flat this week ahead of Federal Reserve’s Janet Yellen’s Friday speech at the central bank’s annual Jackson Hole Summit. All eyes on Jackson Hole – © Dan Bannister | Dreamstime.com The Federal Chairwoman’s speech at the meeting of central bank governors in Wyoming is expected to provide clues about when to expect the next rise in US interest rates. While it is unlikely that Janet Yellen will...

Switzerland’s budget for 2016 is looking better than expected. Instead of a shortfall of CHF 0.5 billion, the latest figures forecast a surplus of CHF 1.7 billion. © Zestmarina | Dreamstime.com Overall income was up CHF 1.2 billion and costs were down CHF 1.0 billion. This CHF 2.2 billion shift took the annual forecast from CHF -0.5 billion to CHF 1.7 billion. The biggest driver of the change was the effect of negative interest rates. Since last year the Swiss government has been issuing...

Investec Switzerland. The pendulum for Britain has swung back to positive, and it’s tourists who’ve pushed it there.Britain was one of the few bright spots for Swiss watch exports in July, rising 13.4 percent from a year earlier and counteracting a massive 26 percent drop in June, according to data published by the Federation of the Swiss Watch Industry on Tuesday. Overall exports dropped for a 13th consecutive month.Richemont and Swatch, whose shares fluctuated after the...

SMI The Swiss Market Index is set to close lower this week underperforming global equities as US stocks reached new record highs and emerging markets outperformed on a weaker dollar. Click to enlarge. Oil also made further gains this week as investors bet that talks between OPEC members and other producers may result in action to stabilise the market in the coming weeks. Click to enlarge. Japan The week began with...

Investec Switzerland. The Swiss Market Index is set to close lower this week underperforming global equities as US stocks reached new record highs and emerging markets outperformed on a weaker dollar. © Aleksandar Milosevic | Dreamstime.com The week began with some gloomy economic data after reports showed on Monday that Japan’s second quarter GDP growth slowed more than forecast to 0.2%, reflecting a drag on exports from a stronger JPY and a drop in business investment....