Tag Archives: Editor’s Choice

Investec Switzerland. Switzerland’s economy barely grew in the first quarter as government spending fell for the first time in a year. The slowdown to 0.1 percent followed expansion of 0.4 percent in the last three months of 2015 and fell short of the 0.3 percent growth that economists had forecast. © Denis Linine | Dreamstime.com The report published Wednesday by the State Secretariat for Economic Affairs in Bern also showed that government expenditure dropped 0.8...

Investec Switzerland. Switzerland should be wary of “well-meaning” international pressure to withdraw its 1,000-franc ($1,007) note, according to the central bank’s former president. © Ginasanders | Dreamstime.com Concern has mounted globally that big banknotes make life easier for criminals and should therefore be scrapped. While officials in the euro area have announced plans to phase out their most valuable note, the Swiss National Bank has stated its intent to retain...

Investec Switzerland. Nestle SA agreed to pay DBV Technologies SA, a French developer of therapeutic skin patches, as much as 100 million euros ($110 million) for the right to sell an experimental test to detect milk allergy, the most common food allergy in children. © Albina Glisic | Dreamstime.com Nestle will pay the Montrouge-based company 10 million euros upfront for development of the test, which Nestle will have the right to sell globally pending regulatory approval,...

Investec Switzerland. Stock markets around the world are set to close higher this week after investors interpreted a rise in oil prices as a positive sign for the global economy. The Swiss Market Index (SMI) outperformed global markets amid a strong performance from financials and pharmaceuticals. © Ssuaphoto | Dreamstime.com Sentiment was bolstered this week as oil prices moved above the level of 50 US dollar per barrel on signs that a two-year supply glut may be coming...

Investec Switzerland. Nestlé SA Chief Executive Officer Paul Bulcke said he expects the U.K. will choose to stay within the European Union, though an exit wouldn’t be a huge risk to the world’s largest food company. Brexit probably isn’t among the top 10 risks for Nestlé, Bulcke said Wednesday at a presentation to investors at its headquarters in Vevey, Switzerland. ‘‘I am quite confident wisdom will prevail,’’ he said. Nestlé has something of a ‘‘natural hedge’’ in that...

Investec Switzerland. Switzerland’s top financial regulator warned the risk of money-laundering has risen in Switzerland in recent years as the watchdog said it’s preparing to penalize six Swiss banks over their ties to alleged corruption in Malaysia and Brazil. BSI Bank’s office in Lugano, Switzerland – Source: Facebook – BSIbank Widening corruption scandals at 1Malaysia Development Berhad and Brazilian oil producer Petroleo Brasileiro SA have prompted the regulator to...

20 Minutes. Switzerland’s competition watchdog COMCO has fined Swisscom CHF 71.8 million. The semi-privatised Swiss telecom operator has been accused of using market dominance to gain an unfair advantage over competitors. © Hai Huy Ton That | Dreamstime.com The commission said “the Swisscom group with its subsidiaries CT Cinetrade AG and Teleclub AG holds a dominant position particularly with respect to live broadcasting of Swiss football and ice hockey championship games on pay TV.” Adding...

Investec Switzerland. Swiss stocks are set for a modestly positive end to the week despite stock markets coming under pressure on growing speculation that the US Federal Reserve could raise rates as early as next month. © Kenneth Graff | Dreamstime.com Stocks markets were volatile this week after the latest meeting minutes from the US Federal Reserve showed that most policymakers thought a June interest rate hike was appropriate given the continued improvement of the US...

Le Matin. Swiss customs couldn’t believe their eyes when they visited the garages of a Vaud resident who they had questioned at a border stop in Geneva. The two garages contained a total of 5,000 kgs of food. Among the stash they found 520 litres of spirits, 1,400 litres of wine, 2,800 kgs of meat and large quantities of oil, port and cheese. © Ferenc Ungor | Dreamstime.com The smuggler had created a network allowing the resale of the goods to regular clients including restaurants,...

Investec Switzerland. Glencore Plc shareholders showing up for the miner’s annual meeting on Thursday can take comfort in the stock’s best ever start to a year. Less so the loss of about half the company’s value since they met 12 months ago and more than 70 percent since a $10 billion initial public offering in 2011. Such wild share swings highlight both the opportunities from billionaire Chief Executive Officer Ivan Glasenberg’s plans to cut net debt by as much as $9...