Tag Archives: Featured

Glencore has denied any wrongdoing (Keystone) - Click to enlarge Swiss NGO Public Eye has filed a criminal complaint with the Office of the Attorney General of Switzerland against the activities of Swiss commodities giant Glencore in the Democratic Republic of Congo (DRC). The Office of the Attorney Generalexternal link on Tuesday confirmed receipt of the complaint but said further details were currently not...

Everyone who believes risk has disappeared has fallen for the con. Judging by this year’s version of Santa Claus’s reliable year-end stock market rally, risk has vanished, not just in stocks but in bonds, junk bonds, housing, commercial real estate, collectible art–just about the entire spectrum of tradable assets (with precious metals and agricultural commodities among the few receiving coals rather than rallies). One...

The US is about to enact significant corporate tax cuts, and could therefore edge closer to the number 1 spot in the World Economic Forum’s ranking – currently held by Switzerland. The US is about to enact significant corporate tax cuts, that will see the federal statutory corporate tax rate drop to 21%, from 35%, starting in January (see our latest note ‘US tax cuts update – 19 December 2017’). This will significantly...

Recently published international price comparison numbers show just how expensive life is in Switzerland. © Mike Clegg | Dreamstime The price of a standard basket of items, including food, clothing, accommodation, healthcare, transport, education and other regular expenses, was far higher in Switzerland than in the rest of Europe. In 2016, life in Switzerland was 68% more expensive than the EU average. The only other...

The farm had been placed under strict quarantine since the end of November and 6,000 chickens were euthanised to contain the spread of the virus. (Keystone) - Click to enlarge A poultry farm in southern Switzerland has been given a clean bill of health following a recent outbreak of the virulent Newcastle virus that resulted in thousands of chickens being put down. Veterinarians in canton Ticino confirmed...

New EU Rules For Cross-Border Cash, Gold Bullion Movements – War on cash continues and expands to affect non-criminals including gold owners– New definitions of “cash” to be drawn up by EU to include gold and precious metals – Claim cash and gold bullion “often used for criminal activities such as money laundering, or terrorist financing”– Legislation will allow authorities to seize assets from those ‘without a criminal...

The tax bill continues to make its way through Congress at a swift pace, and now looks increasingly likely to be enacted into law this week, after clearing the conference committee hurdle (a compromise between the House and Senate versions). A few hesitating Republican Senators have eventually said they will vote in favour of the bill, which is key as the Republican majority in the Senate is slim at 52-48. It will...

Bern, 20.12.2017 – On 20 December the Federal Council decided to unilaterally remove tariffs on imported industrial goods. Tariffs will also be reduced on selected agricultural goods not produced in Switzerland. Furthermore, the government wants to apply the Cassis de Dijon principle more widely by reducing the number of exceptions to it. These measures should lead to considerable savings of around CHF 900 million for...

– ‘Availability of gold strengthens public confidence in the central bank’s balance sheet’ say Bundesbank – Bundesbank has Audited Reserves amounting to almost 3,400 tonnes, around 68% of Bundesbank’s reserve assets – Bank taken series of steps to increase transparency around Germany’s gold holdings – Germany has second largest gold holdings in the world; U.S. believed to be largest – Transparency important and all...

The chairman of the Swiss insurance company Helvetia, Pierin Vincenz, has resigned. The Swiss financial regulator, FINMA, is currently investigating his activities during his time in charge of the Raiffeisen bank. In a statementexternal link released on Monday, Helvetia said Vincenz had stepped down with immediate effect. He had been a member of the Helvetia board since 2000 and chairman since October 2015. Vincenz...