Category Archive: 3) Swiss Markets and News

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Top US bank keen on Swiss mortgage market

Swiss retail banks may face increased competition by a leading United States bank on the domestic housing market. The Goldman Sachs group is reportedly considering plans to enter the Swiss mortgage market, according to the NZZ am Sonntag newspaper.

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One in three Swiss flights delayed

The Swiss International Airlines is among the worst victims of a shortage of air traffic controllers in Europe. About 34% of all Swiss flights are delayed because of issues with air navigation safety or at the airport, the SonntagsZeitung newspaper reports quoting data from Eurocontrol.

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Over 27percent of Swiss workers are stressed

Workplace stress in Switzerland is on the rise, particularly among younger workers – who often show up feeling unwell. The consequences are costly. The “Job Stress Index” – published by Health Promotion Switzerlandexternal link on the eve of World Mental Health Dayexternal link – has found that stress levels at work continue their upward trend.

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Swiss Public Broadcaster to Shed Fewer Jobs than Expected

The Swiss Broadcasting Corporation (SBC) will shed fewer jobs than initially stated as it embarks on a four-year CHF100 million ($100 million) cost-cutting programme. Some 200 jobs are slated to go instead of the 250 announced in June.

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Swiss Divorce Rates Continue to Climb

By 2017, 40.5% of those married in 1987 were divorced, compared to 33.2% of those married in 1977 and 24.7% of those married in 1967. Divorce in Switzerland starts early. 9.4% of those married in 1987 were divorced after five years, as were 8.1% of those married in 1977 and 4.8% of those who tied the knot in 1967.

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IMF raises Swiss economic growth forecast

The Swiss economy is tipped to grow by 3% by the end of this year, according to the International Monetary Fund (IMF). In April, the organisation had forecast Switzerland’s gross domestic product (GDP) to rise by 2.3%.

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UBS tax fraud trial opens in Paris

A sweeping investigation into UBS bank, accused of tax fraud and money laundering, comes to trial in Paris today. The bank risks a fine of up to €5 billion (CHF5.7 billion). The trial is set to begin on Monday after years of investigations into the Swiss bank’s French activities, as well as aborted negotiations in which authorities made a settlement offer of €1.1 billion.

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Immobilier suisse, la réalité du cumul de risques. Olivier Crottaz

Avant-propos: Voici un argumentaire très intéressant que nous livre Olivier Crottaz. Les caisses de pension et autres fonds d’investissement venus de l’étranger se sont engouffrées dans l’autoroute de l’industrie immobilière, construite par la BNS. Du sur mesure donc qui pour l’instant n’a pas tant profité aux Suisses.

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Swiss-US tax data transfer method ‘violates law’

The Swiss Data Protection Commissioner has issued a legal complaint against the Finance Ministry for sending the names of bank employees, lawyers, accountants and other third parties to the United States to assist with tax evasion investigations.

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Digitization ‘to cost one million jobs’ in Switzerland

The growing trend of digitization in the economy will render a million Swiss jobs redundant in the next 12 years, according to a new study. Some 800,000 jobs will be clawed back by new IT openings, but much of the workforce will need to be re-trained, warns consultancy firm McKinsey. Automation will mainly take the place of manual labour, office and retail workers, says the NZZ am Sonntag newspaper, which has seen an advance copy of the McKinsey...

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Swiss take the Train more often, and further, than European Neighbours

The latest Europe-wide figures confirm Switzerland’s reputation as a country of trains, with average trips and kilometres covered per habitant far higher than elsewhere. Some 72 trips and 2,463 kilometres: this was the average train time for each Swiss resident in 2016, according to Eurostat figures reported Tuesday by Litraexternal link, the Swiss information service for public transport.

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Swiss investments in Turkey drop by half

The severe policies of President Recep Tayyip Erdogan have led to Swiss companies decreasing their investments in Turkey by 50% compared to the average over the past decade, Swiss Public Television SRF reports. Over the last ten years, Swiss companies have on average invested some CHF200 million ($202 million) in Turkish markets, but today the figures amount to roughly half that.

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Study finds Swiss economy is looking up, but risks abound

Switzerland's GDP is on track this year to increase by 2.9%, according to a forecast by Zurich's KOF Swiss Economic Institutepublished Wednesday. This positive outlook is tempered by concerns over the potentially negative impact of global trade wars and a no-deal Brexit on the neutral nation.

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Strong Swiss agricultural output recorded despite droughts

Swiss agricultural production is up in 2018, driven largely by bigger hauls of wine, fruit and milk, according to the latest official statistics. Productivity is also on the rise. The yearly production estimate of CHF10.6 billion ($10.7 billion) released on Tuesday by the Federal Statistical Office represents an increase of 2.7% on 2017 figures.

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Tax amnesty ends for undeclared EU assets

The automatic exchange of information between Switzerland and the European Union came into effect on Monday. Owning property abroad without declaring it will no longer be possible. The deadline of September 30 ended the possibility of coming forward voluntarily, reported Swiss public television, RTS, on Sunday. For latecomers who have assets outside Switzerland and who failed to declare them, doing so now can no longer be considered voluntary.

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Switzerland increases employment permits for non-EU workers

The Swiss authorities have responded to demands from companies and cantons for access to highly-skilled employees by granting 1,000 extra permits for workers that come from outside the European Union from next year. From 2019, firms will be able to recruit 8,500 foreign workers from countries such as the United States, China and India.

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Swiss no longer in top ten in world university ranking

The Federal Institute of Technology in Zurich (ETH Zurich) remains the best university in continental Europe, despite slipping one place to 11th in the Times Higher Education World University Rankings 2019. The list, which was released on Wednesday, scores 1,250 universities on five main criteria: teaching, research, citations, industry income and international outlook. Over 20,000 responses to a survey from 2017 and 2018 on reputation of the...

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UBS lays out cities most at risk of overheated property markets

An index by Swiss bank UBS shows significant risks of real estate bubbles in booming cities such as Hong Kong, Munich and Toronto. The Swiss cities of Zurich and Geneva remain relatively stable.The 2018 Global Real Estate Bubble Indexexternal link, published on Thursday, found that bubble (or overvaluation) risk soared in Munich, Amsterdam and Hong Kong over the past year; the latter tops the scale as most at risk.The report also pointed to...

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UBS Global Real Estate Bubble Index 2018

The UBS Global Real Estate Bubble Index 2018 report is produced by UBS Global Wealth Management's Chief Investment Office and analyzes residential property prices in 20 developed market financial centers around the world. Hong Kong faces the greatest risk of a housing bubble, followed in descending order by Munich, Toronto, Vancouver, Amsterdam, and London.

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Novartis to cut 2,200 Swiss jobs by 2020

The pharmaceutical giant Novartis will cut about 2,200 jobs in Switzerland over the next four years. Nearly 1,500 jobs are affected in production and about 700 in services. This restructuring is part of the manufacturing strategy launched in 2015 to adapt the industrial base to a reduced product portfolio, announced Novartis on Tuesday. It currently employs 13,000 people across Switzerland.

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