Category Archive: 3.) Investec

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Migros Bank could pass on negative interest rates

2016-12-13

Because of negative interest, even a savings account earning 0% interest is earning too much reckons the bank’s boss. Soon many banks will be passing on some of the cost of negative interest to their clients, reports 20 Minutes. Migros Bank will need to seriously consider doing the same in 2017.

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Credit Suisse planning more Swiss job cuts

2016-12-11

by Investec

2016-12-11

Credit Suisse Group AG is preparing a new cost-savings program that puts as many as 1,300 jobs in Switzerland on the line, according to Schweiz am Sonntag. The plan will be announced Wednesday, when the lender holds its investor day in London, the newspaper said, without saying where it got the information. Credit Suisse’s Swiss unit may slash an additional 1,000 to 1,300 positions, or about eight to 10 percent of the unit’s workforce, it said.

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Pension payments could become compulsory for self-employed in Switzerland

2016-12-10

by Investec

2016-12-10

Switzerland’s Federal Council is looking at a proposal to make pension payments compulsory for self-employed workers in the same way that they are for salaried workers.

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Uncertainty prevails everywhere, says Draghi, but apparently investors don’t mind

2016-12-09

by Investec

2016-12-09

According to European Central Bank President Mario Draghi “uncertainty prevails everywhere” but apparently investors don’t mind. Market participants shrugged off last weekends “no” to constitutional reform in Italy and the subsequent resignation of Prime Minister Matteo Renzi to push European indices to 12 month highs this week.

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Swiss EU immigration – unfortunately there is no plan B, says president in interview

2016-12-09

by Investec

2016-12-09

Switzerland’s plan to solve an immigration dilemma with the European Union could avoid being held up by another referendum if it gets strong support in parliament next week, according to Swiss President Johann Schneider-Ammann. A clear result in a final vote on Dec. 16 with the Swiss People’s Party, or SVP, in the minority could make it “delicate” for the group to push for another plebiscite, he said in an interview with Bloomberg Television’s Guy...

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Umuzi | An Out of the Ordinary Academy

2016-12-08

by Investec

Watch how Verona Banda’s life and job prospects have been transformed by the Umuzi Academy: www.liveoutoftheordinary.co.za

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Care for Wild: An Out of the Ordinary Orphanage

2016-12-08

by Investec

In celebration of World Rhino Day, Investec Rhino Lifeline is focusing its efforts on raising money for Care for Wild. This organisation based in Mpumalanga, South Africa, raises young rhino who have been orphaned or injured as a result of poaching until they can be rehabilitated back into the wild. Contribute now: http://careforwild.co.za/

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Richemont cuts send shockwaves from Geneva to mountain valleys

2016-12-08

by Investec

2016-12-08

Exports of Swiss Watches Decline for 16th Month

Richemont’s plan to slash 210 watchmaking jobs in Switzerland is sending shockwaves from Geneva to some of the country’s remote mountain villages, the cradle of high-end watch manufacturing. In Le Sentier, a town perched in the middle of the Jura mountain range, straddling the border between France and Switzerland, some 400 people protested Thursday against plans to cut the workforce of Vacheron Constantin and Piaget.

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An Out of the Ordinary gift this festive season

2016-12-08

by Investec

Give the gift of a lifetime and give an orphaned rhino the chance to survive by donating to Care for Wild Africa today: http://invest.ec/2gBWfhn

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Over 4,000 studios for rent. Standing room only. Telephone included.

2016-12-07

by Investec

2016-12-07

The contractural requirement for Swisscom to provide every commune with a telephone box comes to an end at the end of next year. Late last week, the Federal Council adopted a new plan that will come into force in 2018. Internet subscriptions without a fixed phone contract should also be part of the new plan.

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Sunrise beats Swisscom on mobile network coverage

2016-12-03

by Investec

2016-12-03

After seven years on top, Swisscom has been beaten by Sunrise. The German telecommunications expert and magazine publisher, connect.de and its partner P3, travelled roughly 7,000 km by car around Switzerland testing Swiss mobile networks. Tests were also made while walking and on trains. The results were published on Tuesday.

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Swiss stock market awaits result of Italian referendum

2016-12-02

by Investec

2016-12-02

Investors appear to be staying on the sidelines this week ahead of the weekend’s Italian referendum. Swiss stocks are set to finish the week lower, underperforming global equities as food giant Nestle and pharmaceutical heavyweights Roche and Novartis drag the index down. It’s been a volatile trading week across financial markets. Oil prices jumped almost 9% on Wednesday after OPEC members finally agreed a deal to cut production while upbeat US...

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Switzerland tops talent table despite high cost of living

2016-11-30

by Investec

2016-11-30

Switzerland retains its number one spot in IMD‘s most recent 2016 World Talent Report. Unlike the other 60 nations in the study, which have seen their performance gyrate, a plot of Switzerland’s rank over the last ten years is a perfectly straight line. First ten years in a row.

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Swiss banks taking more risks to compensate for record-low interest rates

2016-11-28

by Investec

2016-11-28

Swiss banks focused on property lending are taking more risks to compensate for the impact of record-low interest rates, increasing the threat of a real-estate bubble, Swiss National Bank Vice President Fritz Zurbruegg said.

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Swiss stocks down as the US dollar hits decade high

2016-11-25

by Investec

2016-11-25

Swiss pharmaceutical and luxury goods giants pulled the Swiss Market Index (SMI) down again this week as investors dropped large cap firms. Global stocks however continued to rise, along with energy prices, on the promise of Trump’s reflationary administration. The US dollar headed further up, reaching decade highs.

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Steep price increases for Swiss Rail passengers despite deflation

2016-11-25

by Investec

2016-11-25

Today, Swiss Rail announced big price increases on some tickets and passes. The new prices will apply from 11 December 20161. According to the Swiss government consumer price index, average prices declined by 2.1% between October 2010 and October 20162.

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Shuttered Geneva offices show impact of lost banking secrecy

2016-11-24

by Investec

2016-11-24

Three years after Lloyds Banking Group Plc sold its private bank in Geneva, the only signs of life at the now-empty building are piles of cigarette butts and nutshells lying on its dirty window ledges. The riverside offices at Place de Bel-Air are a short walk away from the remaining private banks, hedge-fund managers and luxury-goods stores in the heart of the Swiss city. The locked entrance, where millionaire clients used to come and go, is a...

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Swiss watch exports have biggest monthly drop in seven years

2016-11-23

by Investec

2016-11-23

Shipments fell to 1.68 billion francs ($1.7 billion), the Federation of the Swiss Watch Industry said in a statement Tuesday. The decline was much greater than expected and was made worse because October was the weakest month of last year, according to Zuzanna Pusz, an analyst at Berenberg.

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Switzerland risks power independence as nuclear vote looms

2016-11-23

by Investec

2016-11-23

The nation faces losing a third of domestic supplies and becoming a net buyer of power if it opts to start closing its five nuclear plants as early as next year. The Swiss will vote on Sunday and the anti-nuclear proposal has a slender lead in opinion polls.

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Swiss are the world’s wealthiest, says report

2016-11-22

by Investec

2016-11-22

According to a recent report by the bank Credit Suisse, the Swiss are worth more on average than the residents of any other nation. The bank’s annual Global Wealth Report calculates average net worth per Swiss adult to be US$ 561,900 (CHF 567,500). Switzerland’s combined personal wealth of US$ 3.5 trillion represents 1.4% of the global total, while the nation’s population represents 0.1% of the global total.

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