Tag Archives: Business

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 –...

The southeastern region of Madre de Dios in Peru is known for its illegal gold mining practices, but Chave insists PX Precinox does not source any of its precious metal from there. Copyright 2018 The Associated Press. All Rights Reserved. In a rare interview, PX Precinox CEO Philippe Chave defends his company’s record in Peru and says abandoning artisanal miners is not the way to achieve more sustainable and transparent mining practices. For years reports of...

As a Swiss bank gets slapped for breaching money-laundering rules, this sculpture in Caracas pays homage to the oil workers of Petroleos de Venezuela SA (PDVSA). Keystone / Rayner Pena R The Swiss Financial Market Supervisory Authority (FINMA) has found that Banca Credinvest “seriously violated money-laundering regulations” in its handling of Venezuelan client relationships. On Tuesday the watchdog announced that it had ordered the Ticino-based bank to monitor all...

Easyjet Switzerland says it doesn’t expect a return to pre-Covid 19 business levels until 2023. Keystone / Georgios Kefalas Faced with lower demand and with no recovery expected anytime soon, EasyJet Switzerland is withdrawing two of its 12 planes stationed in Basel. Seventy jobs will be lost. Making the announcement on Tuesday, the airline company said it was consulting staff representatives on the fate of the jobs concerned. “EasyJet Switzerland has so far managed...

Though they are hardly on their last legs, demand for office space will drop. © Keystone / Christian Beutler Despite the easing of Covid-19 measures, remote working is still widespread in Switzerland, with almost a third of service sector employees still working from home. According to a survey published on Thursday by the Credit Suisse bank and the Procure.ch purchasing managers association, 29% of service employees and 16% of industry employees in Switzerland are...

Greenland’s glaciers are melting at an alarming rate and the Alpine Initiative says Manor’s “Berg” water contributes to global warming. Copyright 2019 The Associated Press. All Rights Reserved. A mineral water from Greenland glaciers sold by Swiss retail chain Manor has been dubbed worst climate offender in this year’s “Devil’s Stone” award by the Swiss Alpine Initiative. Every year the Alpine Initiative asks people to vote on three candidates for the most absurd...

Switzerland’s central bank is exploring the potential of blockchain but is in no rush to produce digital cash. © Keystone / Gaetan Bally Central Bank Digital Currency (CBDC) is the buzz-phrase of the moment. But the Swiss National Bank (SNB) says producing digital Swiss francs for the general public would create many problems with unclear benefits. The Swiss government has backed up the central bank word for word. And it turns out that an SNB issued digital Swiss...

A childhood pastime – playing the Maggi aviator board game. swissinfo.ch Switzerland is the home of many major multinational companies, many of which date back to the late 19th century, the high tide of colonialism. But is there a link between the rise of great Swiss corporate names and European colonial expansion? The issue turns out to be a complex one. I found a board game a few weeks ago in the apartment that belonged to my grandmother. I vaguely remembered it...

When the Belle-Idée project is fully up and running, three shuttle buses will offer a 24-hour on-demand door-to-door service at the Geneva hospital site. swissinfo.ch Over the past five years, various kinds of autonomous vehicles, including buses, have popped up on Swiss roads. But though testing continues, a driverless future might yet be some years away. On a crisp autumn morning in the Geneva countryside, a bright orange-and-white electric bus is winding through...

FINMA described the bank’s money laundering processes as “inadequate” and reprimanded it for a breach of its duty of due diligence in relation to anti-money laundering rules. © Keystone / Gaetan Bally The Swiss financial market regulator FINMA has reprimanded Bank Syz for breaching money laundering rules involving a business relationship with an Angolan client. “FINMA found that the bank did not make sufficient efforts to investigate the substantial growth in the...