Tag Archives: Swiss Markets and News

The German authorities bought 11 CDs with data about suspected German tax dodgers who held bank accounts in Switzerland The trial in Frankfurt of a Swiss private investigator accused of spying on the tax authorities in the German state of North Rhine-Westphalia is underway, but already temporarily suspended. The 54-year-old allegedly acted on behalf of the Swiss intelligence service trying to uncover a series of thefts...

Tidjane ThiamTidjane Thiam, Credit Suisse CEO since 2015. (Keystone) - Click to enlarge A Swiss hedge fund is poised to launch an activist campaign to break up Credit Suisse, tapping into investor impatience with the progress of the bank’s turnround under chief executive Tidjane Thiam. RBR Capital Advisors, supported by Gaël de Boissard, a former Credit Suisse investment bank co-head, is set to unveil the...

SkyWork currently serves some 17 destinations from the Swiss capital (Keystone) - Click to enlarge SkyWork Airlines, which flies to various European destinations from Bern Airport, may be forced to cease operations by the end of October due to its unstable financial situation. The Federal Office of Civil Aviation (FOCA) has limited SkyWork’s operating permit to the end of this month because the company is...

The third in a series of gorgeous new Swiss franc bank notes will be released by the Swiss National Bank (SNB) on October 18th. The 10-franc note keeps its yellow colour, but most everything else in the design and construction is different. What’s most remarkable about the new bank note? Not the 40 centimes or so it takes to make each note, nor that each note is projected to last only about a year. Not the sophisticated...

© Iurii Konoval | Dreamstime Call it “dirty money” if you wish, because there’s about CHF 3 million in gold and silver found each year in Swiss sewage. But no one is going to get rich, according to a just-published report by the Swiss Federal Institute of Aquatic Science and Technology (Eawag). Recovering the estimated CHF 1.5 million in gold, and the same in silver, that passes through Swiss wastewater each year,...

The app of Airbnb, a website for people to list, find and rent lodging, and other apps on a smart phone (Keystone) Online accommodation platforms such as Airbnb have negative effects on the Swiss housing market and lead to fewer homes available for tenants and higher rental prices, a study has revealed. According to a survey by the Inura Zurich Institute, commissioned by the Zurich Tenants’ Associationexternal link and...

© Michael Smith | Dreamstime - Click to enlarge According to Le Matin, Jean-Luc Addor, a parliamentarian and member of the Swiss People’s Party (UDC/SVP), wants to know what savings could be made if pensions paid to those abroad were adjusted for living costs in those countries. According to the newspaper, after the rejection of the vote to reform Swiss pensions, Addor said that the rejected reform was aimed at...

Sergio Ermotti, CEO of Swiss bank UBS, took home €12.3 million last year, the survey said (Keystone) - Click to enlarge The chief executive officers of Switzerland’s top firms take home almost double the median salaries of Europe’s 100 biggest companies, according to a study by consultants Willis Towers Watson. The Eurotop 100 study, presented on Thursday, studied the direct remuneration – not including...

Commuters have been faced with long delays for weeks Commuters using a busy stretch of railway between the Swiss city of Basel and Karlsruhe in Germany will be relieved to learn that services will return to normal on Monday following long-running repairs to a German tunnel. The Rheintal (Rhine Valley) rail section is a critical south-north route in Europe, used particularly by freight trains as well as commuters. Trains...

Martin Nydegger's appointment as the new head of Switzerland Tourism was announced on Friday. (Keystone) - Click to enlarge The top Swiss tourism body has announced that Martin Nydegger will take over from his predecessor Jürg Schmid as head of the organisation. The 46-year-old Nydegger has been a member of Switzerland Tourism’s executive board since 2008. A selection committee within Switzerland Tourism’s...