Category Archive: 3) Swiss Markets and News
Ex-UBS trader sues bank for ‘malicious’ Libor prosecution
Tom Hayes, the former star UBS bank trader who became the face of the Libor rigging scandal, sued his former employer accusing it of handing him over on a “silver platter” to global prosecutors in order to protect the bank and its senior leadership. + Get the most important news from Switzerland in your inbox …
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Swiss trade union says Sunday leave is out of the question
Switzerland's trade union Unia today reiterated its opposition to the extension of Sunday working, which it considers harmful to the health of sales staff. + Get the most important news from Switzerland in your inbox Unia, on the last day of its congress in Brig, canton Valais, denounced plans to expand the number of Sunday …
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Swiss Post expects a ‘significant’ decline in profits
According to interim CEO Alex Glanzmann, Swiss Post is expecting a significant drop in profits compared to last year. + Get the most important news from Switzerland in your inbox "We are expecting a low three-digit million figure", said Glanzmann in an interview with Swiss German-language newspaper SonntagsBlick. Swiss Post generated a Group profit of …
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HAYA Therapeutics CEO sees a future where his therapy could treat cancer and Alzheimer’s
Samir Ounzain, CEO of science start-up HAYA Therapeutics, talks about the limits of entrepreneurship in Switzerland, entering the US market and how his therapy for heart disease could change the world of medicine. Founded in 2019, HAYA Therapeutics aims to pioneer an approach to treating disease by turning sick cells back into healthy ones. The …
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Storm Benjamin, Swiss village relocation and festive lights curfew
Storm Benjamin batters Switzerland, Brienz villagers seek permanent relocation and a curfew on Christmas lights sparks debate. Here are three stories from Switzerland this week.
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AI blamed for falling Swiss job vacancies
The expansion of artificial intelligence (AI) may explain a slowdown in the Swiss labour market, says staffing firm Adecco. +Get the most important news from Switzerland in your inbox According to a regular analysis by Adecco, the number of vacancies fell by 0.2% in the second quarter compared to the previous three months and by …
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Swiss vote: taxing the rich to save the planet?
Should Inheritance Be Taxed to Fight Climate Change? 💰🌍
A new initiative in Switzerland proposes a 50% inheritance tax on fortunes over CHF 50million, aiming to fund the country’s green transition and tackle the climate crisis.
Supporters say it’s about climate justice, arguing that the wealthiest individuals, with their larger carbon footprints, should contribute more to sustainable solutions. The tax could generate billions for climate...
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Swiss logistics group Kuehne+Nagel to cut up to 1,500 jobs
Swiss logistics group Kühne+Nagel is launching a cost-cutting program, which will slash 1,000 to 1,500 full-time positions, following a slump in profits. +Get the most important news from Switzerland in your inbox Turnover fell by 7% to CHF6.04 billion. Gross profit adjusted for volatile freight tariffs fell by 4% to CHF2.11 billion. As a result, …
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Swiss farmers’ union applauds progress on EU treaty package
The Swiss Farmers' Union is in favour of the bilateral approach, but has not yet taken a definitive position on the new treaties with the European Union. In view of the dynamic adoption of legislation and the imprecise domestic implementation, it is calling for better involvement of the sector. +Get the most important news from …
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Swiss government seeks solutions to medicine shortages
This spring, a group of experts plans to examine a range of measures to tackle drug shortages in Switzerland. Some of the measures up for discussion include simplifying authorisations, closer supply monitoring, and stronger international networking. +Get the most important news from Switzerland in your inbox The group of experts chaired by Bernhard Pulver, former …
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Switzerland to leverage 2028 Olympics to promote tech and creative sectors
The Swiss government would like to use the opportunity of the 2028 Summer Olympic and Paralympic Games in Los Angeles to promote Switzerland by showcasing its strengths in culture, technology, sport and health. +Get the most important news from Switzerland in your inbox The government intends to do this through the House of Switzerland, the …
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Golf becomes big business in Switzerland
Half a billion francs a year: golf in Switzerland is no longer just a sport, but a booming economic ecosystem. +Get the most important news from Switzerland in your inbox Driving this is an increasingly sophisticated business model that ranges from membership fees to the sale of shares, as well as involving companies through sponsorships. …
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A third of Swiss chief financial officers expect local job cuts
According to a survey by the consulting firm Deloitte, Swiss chief financial officers (CFOs) are somewhat pessimistic about the future. In view of the strong Swiss franc and the US tariffs, many expect local jobs to be relocated abroad. +Get the most important news from Switzerland in your inbox According to the survey of 119 …
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Swiss pharma exports to Russia continue despite war
More than three and a half years after Moscow's attack on Ukraine, exports of the Swiss pharmaceutical industry to Russia remain largely stable. +Get the most important news from Switzerland in your inbox Companies justify this with their responsibility towards patients, but there is no shortage of criticism. According to figures from the Federal Customs …
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Swiss exports to US rebound in September
Swiss exports to the United States have overcome previously weak growth by posting a significant rise in September. +Get the most important news from Switzerland in your inbox Exports to all parts of the world rose by a seasonally adjusted nominal 3.4% to CHF22.8 billion, as reported by the Federal Office for Customs and Border …
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France’s wealthy shift funds to Luxembourg and Switzerland
Political turmoil and tax threats have accelerated investment flows to havens, asset managers say. French entrepreneurs and wealthy families nervous about political turmoil at home are investing record amounts in Luxembourg-based annuities and shifting other funds to perceived havens such as Switzerland. Wealth managers, bankers and lawyers said the flow of personal investments out of …
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Half-fare travel card here to stay, says Swisspass chief
Helmut Eichhorn, CEO of Alliance SwissPass, told the SonntagsBlick newspaper that the half-fare travel card for public transport will be maintained, following headlines in the press that it would be discontinued. +Get the most important news from Switzerland in your inbox The price reduction on travel on trains, buses, trams and boats with the current …
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Radical-Liberals back Switzerland-EU accords
The Swiss Radical-Liberal Party is in principle in favour of the new package of agreements negotiated by the European Union and Switzerland. Party delegates in Bern voted 330-104 to support the packages. Nine delegates abstained from voting. +Get the most important news from Switzerland in your inbox Before the vote, supporters and opponents of the …
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Metalor to invest CHF40 million in western Switzerland
Although Metalor aims to produce more gold in the United States, the company will not abandon its production site in Marin, canton Neuchâtel. According to its CEO, the company will invest between CHF40-50 million ($50-63 million) there over ten years. +Get the most important news from Switzerland in your inbox For Metalor, producing some of …
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Swiss firms among those leaving corporate climate initiative
A total of 893 companies have withdrawn from their climate commitments with the Science Based Targets Initiative (SBTi). These include major Swiss companies such as Swiss Re, Zurich and Sulzer. +Get the most important news from Switzerland in your inbox This number corresponds to 7% of all companies that had signed up to the initiative. …
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