Tag Archives: Business

Swiss taxi drivers regularly protest Uber services. (© KEYSTONE / SALVATORE DI NOLFI) Car-and-driver provider Uber has decided to drop its UberPop service in Zurich following controversy over its legality. The change does not apply to Basel or Geneva. The change takes effect on Thursday at midday. Zurich UberPop drivers will have three months to get permits that will allow them to chauffeur passengers for pay under the...

Commercial aircraft already take off and land using their on-board computers (Keystone) Pilotless cargo and passenger planes could be in use within eight years and save airlines billions, according to a report by Swiss bank UBS. But customers remain wary of the new technology despite potential fare reductions. “In the not-too-distant future, we would expect to see a situation where flights are pilotless or the number of...

In the second quarter of the year, one in which unlike in Q1 fund flows showed a persistent and perplexing outflow from US stocks and into European and Emerging Markets, a trading desk rumor emerged that even as institutional traders dumped stocks and retail investors piled into ETFs, a “mystery” central bank was quietly bidding up risk assets by aggressively buying stocks. And no, it was not the BOJ: the Japanese...

US futures are set for a sharply lower open (at least in recent market terms) following a steep decline in European stocks and a selloff in Asian shares, following yesterday’s sharp escalation in the war of words between the U.S. and North Korea. In a broad risk-off move U.S. Treasuries rose, the VIX surged above 12 overnight, while German bund futures climbed to the highest level in six weeks. The Swiss franc gained...

Asian tourists helped offset a stagnant European demand (Keystone) The number of overnight stays in Swiss hotels rose by 4.4% in the first half of 2017 compared to the same period the year before. Tourists from India and China were largely responsible for the increase in demand. According to figures released by Federal Statistical Office on Monday, tourists – both domestic and international – spent a total of 17.6...

Addax Petroleum in Geneva will shed more than 170 jobs as a result of the closure of its offices by the end of the year (Keystone) Chinese-owned oil and gas extractor firm Addax Petroleum is shutting its offices in the Swiss city of Geneva as well as in Aberdeen, Scotland and Houston in the United States. The company on Monday confirmed a report by the Tribune de Genève newspaper, saying its parent firm Sinopec...

Switzerland’s transport safety authority reports an increase in serious violations of air safety regulations that could have potentially led to collisions. Small planes with incompatible warning systems were one of the reasons behind the increase in incidents (Keystone) According the 2016 annual report of the Swiss Transportation Safety Investigation Board released end of July, the number of aviation incidents...

Around 180 poultry companies in the Netherlands have been temporarily closed, and some firms have culled their flock, after traces of insecticide fipronil were found in eggs in Belgium and the Netherlands last month (Keystone) The discount supermarket chain Aldi Switzerland is withdrawing all imported eggs from sale at its 190 stores as a precaution, it said on Friday, as a scare over possible insecticide contamination...

Switzerland’s transport safety authority reports an increase in serious violations of air safety regulations that could have potentially led to collisions. Small planes with incompatible warning systems were one of the reasons behind the increase in incidents (Keystone) According the 2016 annual report of the Swiss Transportation Safety Investigation Board released end of July, the number of aviation incidents...

Authored by Marcia Christoff-Kurapovna via The Mises Institute, “Switzerland will have the last word,” wrote Victor Hugo in the late 19th century. “It possesses one of the most perfect forms of government in the world.” A contemporary of his, Frederick Kuenzli, a scholar of the Swiss Army, boasted: “No purer type of Republican ideals, no more fixed and devoted adherence to those ideals can be found in all the world...