Category Archive: 3.) Investec

Vancouver tops list of cities at risk of housing bubble. Zurich 9, Geneva 11.

Vancouver, London and Stockholm rank as the cities most at risk of a housing bubble after a surge in prices in the past five years, according to a UBS Group AG analysis of 18 financial centers. Sydney, Munich and Hong Kong are also facing stretched valuations, UBS said in its 2016 Global Real Estate Bubble Index report, released Tuesday. San Francisco ranked as the most overvalued housing market in the U.S., while not yet at bubble risk.

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Secret Alpine gold vaults are the new Swiss bank accounts

Deep in the Swiss Alps, next to an old airstrip suitable for landing Gulfstream and Falcon jets, is a vast bunker that holds what may be one of the world’s largest stashes of gold. The entrance, protected by a guard in a bulletproof vest, is a small metal door set into a granite mountain face at the end of a narrow country lane. Behind two farther doors sits a 3.5-ton metal portal that opens only after a code is entered and an iris scan and a...

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Switzerland’s best paid bosses

The Ethos Foundation recently published a list of Switzerland’s highest paid employees in 2015. The figures are striking and may leave some wondering what someone would do with such large sums. Ethos looks at the pay of the managers of the 204 largest companies listed on the Swiss stock exchange.

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Swiss stocks slump on Deutsche Bank trouble

The Swiss Market Index is set to finish the week notably lower, underperforming global stocks, as financial sector stocks sell off on questions over Deutsche Bank’s solvency.

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Switzerland stays most competitive nation as WEF warns on trade

The World Economic Forum named Switzerland the most competitive nation for an eighth straight year as it warned less open trade was threatening economic growth globally. Switzerland was ahead of Singapore and the U.S. in the annual rankings of 138 countries, with Netherlands overtaking Germany to take the fourth spot.

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Juncker eyes Swiss-specific EU immigration deal despite Brexit

European Commission President Jean-Claude Juncker said he was aiming to solve a two-year-old dispute with Switzerland over immigration in a country-specific manner even in the wake of Brexit. The Swiss government has been at pains to implement restrictions on European Union newcomers decided upon in a 2014 referendum without annulling an economically important set of treaties with the 28-country bloc.

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European mobile roaming charges to be axed. Pity the Swiss (who just have a Swiss phone)

On Friday the European Commission announced that EU residents should soon be able to make calls and use data without any additional charges while travelling in another EU country. Countries outside the EU, but within the European Economic Area (EEA), including Norway, Iceland, and Switzerland’s neighbour Liechtenstein, will be included in the deal.

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World markets rally as cheap money policy continues

The Swiss Market Index is set to finish the week notably higher, although under-performing global stocks amid optimism that central banks will continue to support equities by keeping interest rates at historic lows and providing markets with additional liquidity.

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Julius Baer CEO says Asia revenue may excede Europe’s in 5 years

Julius Baer Group Ltd. said Asia may overtake Europe as its biggest revenue-generating region, as the Swiss wealth manager steps up hiring in Hong Kong and Singapore. “In the next five years, Asia could be the biggest region for us if we grow at double-digit” rates, Chief Executive Officer Boris Collardi said Wednesday in an interview in Singapore. More than half of about 200 new bankers that Julius Baer plans to hire this year will be based in...

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Swiss still the world’s wealthiest, says report

Largely due to a flood of central bank liquidity, global private financial assets have grown by 61% over the seven years since the financial crisis, almost twice the growth rate of economic output, says a report from the German Insurance giant Allianz. This has boosted the wealth of those who own shares.

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Swiss economy slowly gains momentum but risks remain

In a report published by SECO, a group of economy experts working for Switzerland’s federal government, says it anticipates an acceleration in economic growth in Switzerland from 0.8% in 2015 to 1.5% in 2016 and 1.9% in 2017. Along side this they expect unemployment to rise from 3.3% in 2015, to an annual average of 3.6% in 2016, before falling again to 3.4% in 2017. However, they also see risks.

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Swiss central bank keeps rates on hold as Brexit fallout clouds outlook

The post contains the main-stream view on the Swiss National Bank. It is the "continued intervention pledge". But seven years post the financial we are in the second part of the business cycle. In the second part, the SNB must fear rising inflation more than the ECB. For us, Brexit has not influenced the main driver of global GDP growth, U.S. or European consumers.

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Swiss stocks drop on volatility spike

The Swiss Market Index is set to finish the week notably weaker along with global equity markets as fears around global monetary policy hit sentiment ahead of key meetings by the Bank of Japan and US Federal Reserve next week. The SMI did manage to outperform its European peers thanks to its heavy weighting towards more defensive pharmaceuticals and consumer staples sectors.

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Richemont, Hermes slump as gloom deepens for luxury-goods makers

The crisis in the global luxury-goods industry deepened after Hermes International SCA abandoned a long-standing forecast and Richemont predicted a profit plunge that Chairman Johann Rupert deemed unacceptable.

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Seven years of inaction on SNB rates day won’t end this week

Anyone feeling let down that the European Central Bank didn’t do much last week might just want to skip the Swiss rate decision on Thursday to avoid more disappointment. While the Swiss National Bank may be infamous for some seismic policy changes in the last few years, those bombshells weren’t dropped at scheduled meetings. In fact, the last time the institution altered interest rates at a decision in its public calendar was more than seven years...

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Swiss stocks fluctuate as central bank decisions dominate the landscape

The Swiss Market Index, along with other European markets, fluctuated this week as central bank decisions dominated the landscape. Equity markets advanced at the beginning of the week as chances of the Federal Reserve raising US interest rates later this month declined after a surprisingly weak report on the US service-sector earlier this week.

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Basel to overtake Zurich as second-most attractive Swiss canton

Basel City will leapfrog Zurich to become Switzerland’s second-most attractive location for businesses by 2020 as Swiss cantons cut corporate tax to bolster their appeal, according to Credit Suisse Group AG.

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Swiss trains the most expensive in Europe

A study by GoEuro, compares the cost of travelling 100km by train. Switzerland led the ranking with the most costly train trips in Europe. Travelling 100km in Switzerland cost CHF 52.

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Cash in a box catches on as Swiss negative rates bite

It’s a sign the world is getting used to negative interest rates when what once seemed bizarre starts looking like the norm. Consider Switzerland, where more and more companies are taking out insurance policies to protect their cash hoards from theft or damage.

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UBS handed setback in $2 billion mortgage buy-back lawsuit

A UBS Group AG unit was found by a federal judge to have violated some contracts with mortgage-backed securities trusts that hold loans, putting it at risk of having to buy back more loans or pay damages in a $2 billion lawsuit. U.S. District Judge Kevin Castel Tuesday ruled that UBS Real Estate Securities Inc. had breached warranties on 13 of 20 loans in the trusts that were introduced into evidence in a three-week trial in Manhattan in May.

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