Category Archive: 3) Swiss Markets and News

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Digitalisation will reverse offshoring trends, says ABB head

2018-01-03

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2018-01-03

Thanks to advances in robotics and digitalisation, the trend towards the offshoring of manufacturing jobs to cheaper countries is set to be reversed, according to the president of Zurich-based industry giant ABB group. In an interview published Sunday in the NZZ am Sonntag newspaper, Peter Voser said that digital progress is bringing manufacturing and markets closer together again.

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Swiss VAT rate to fall in 2018

2018-01-02

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2018-01-02

Toscawhi Dreamstime
The current rate of 8% is set to drop on 1 January 2018. Temporarily increased by 0.4% in 2011 to shore up funding for disability welfare, the rate will revert to 7.7%. The 0.1% difference between the new rate and pre 2011 rate of 7.6% is a new increase that will be used to help finance rail infrastructure.

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Thousands of Swiss take VW to court in emissions scandal

2018-01-02

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2018-01-02

Some 6,000 people in Switzerland have banded together to sue German car manufacturer Volkswagen and a Swiss car dealer for damages related to the exhaust scandal. The Consumer Protection Organisation (SKS)external link announced on Friday that it had filed a claim on behalf of about 6,000 car owners at the Zurich Commercial Court. The owners say they suffered financial losses because the vehicles’ exhaust systems had been manipulated.

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Nestle tops list as most valuable Swiss company

2018-01-01

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2018-01-01

With a market value of $264 billion (CHF258 billion), Nestlé has claimed second place in Europe behind Royal Dutch Shell ($276 billion) in global rankings published by consultancy EY on Friday. However, that only put them in 17th and 18th place respectively, well below the global ranking leaders: the Silicon Valley tech giants Apple ($876 billion), Alphabet ($733 billion) and Microsoft ($661 billion).

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Increasing number of poor people in Geneva

2017-12-31

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Demand for food parcels in Switzerland has increased by more than 38% over two years, highlighting the issue of poverty in the country. One in four Swiss people experiences financial difficulties and has no money left over for food at the end of the month, especially in Geneva. (RTS/swissinfo.ch) — swissinfo.ch is the international branch of …

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Getting easier to get to Swiss business hubs

2017-12-31

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2017-12-31

Swiss business hubs like Zurich are more globally accessible than they were a few years ago. According to the latest “accessibility index” from economic research institute BAK Economicsexternal link in Basel, Zurich has jumped in the rankings from 34 to 28. This is due to improved connections to business hubs in China, India and the United States, says BAK.

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Die Magie des gesetzlichen Zahlungsmittels

2017-12-29

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2017-12-29

Seit der Aufhebung der Golddeckung durch Präsident Nixon im Jahre 1971 sind die meisten Währungen der westlichen Welt reines Fiatgeld. Was heisst das? Zur Beantwortung der Frage beziehe ich mich ganz bewusst – wie übrigens soweit möglich im ganzen Text – auf keine Lehrbücher oder anderes universitäres Material. In Wikipedia (Stand 3.9.2017) steht:

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Darwin Airlines bankruptcy under criminal investigation

2017-12-28

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2017-12-28

The public prosecutor of the southern Swiss canton of Ticino has opened criminal proceedings over irregularities concerning the bankruptcy of regional carrier Darwin Airlines. According to the SonntagsZeitung paper, the Ticino public prosecutor opened criminal proceedings against “unknown persons” on Thursday after the bankruptcy office in Lugano drew his attention to suspected irregularities.

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Great St Bernard Tunnel reopens after three-month closure

2017-12-28

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2017-12-28

Switzerland’s oldest traffic tunnel through the Alps reopened on Christmas eve after a three-month closure due to problems with the ventilation system. After extensive repair work, the tunnel that connects Martigny in the western Swiss canton of Valais with the Aosta Valley in northwestern Italy reopened to traffic at 8am on Sunday. Motorists wishing to traverse the Alps though the tunnel can travel for free until January 1, 2018

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Public Eye issues criminal complaint against Glencore

2017-12-27

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2017-12-27

Swiss NGO Public Eye has filed a criminal complaint with the Office of the Attorney General of Switzerland against the activities of Swiss commodities giant Glencore in the Democratic Republic of Congo (DRC). The Office of the Attorney Generalexternal link on Tuesday confirmed receipt of the complaint but said further details were currently not possible, according to the Swiss News Agency.

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Scaring off wild boar in their own language

2017-12-27

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Forget guns or traps, a researcher in Switzerland has been using terrifying sounds to try and scare wild boar away from crops. It’s hoped that the “scary stories”might help farmers, who suffer from destroyed fields and harvests thanks to the animals. The number of wild boar in Switzerland has been increasing for years. (SRF/swissinfo.ch) — swissinfo.ch is …

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Life without a mobile phone

2017-12-26

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It might be hard for some of us to believe, but there are people who choose to live without a mobile phone. Do you find yourself looking at an app to check the weather, rather than looking out of the window? This is just one example of a reliance on mobile technology that started to … Continue reading »

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How much more you need to earn in Switzerland to breakeven

2017-12-24

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2017-12-24

Recently published international price comparison numbers show just how expensive life is in Switzerland. The price of a standard basket of items, including food, clothing, accommodation, healthcare, transport, education and other regular expenses, was far higher in Switzerland than in the rest of Europe.

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Veterinary office lifts quarantine for Swiss chicken farm

2017-12-24

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2017-12-24

A poultry farm in southern Switzerland has been given a clean bill of health following a recent outbreak of the virulent Newcastle virus that resulted in thousands of chickens being put down. Veterinarians in canton Ticino confirmed that the farm is no longer infected and that all remaining animals are now free of the disease.

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Helvetia chairman resigns amid ongoing FINMA probe

2017-12-23

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2017-12-23

The chairman of the Swiss insurance company Helvetia, Pierin Vincenz, has resigned. The Swiss financial regulator, FINMA, is currently investigating his activities during his time in charge of the Raiffeisen bank. In a statementexternal link released on Monday, Helvetia said Vincenz had stepped down with immediate effect.

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Reindeer? No, postmen on skis!

2017-12-22

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The Swiss Post may soon be using drones to deliver Christmas packages in isolated areas, but 60 years ago, postmen used a good old analogue method: skis. Modern postmen have more to fear from aggressive dogs than sporting injuries. But last century, postmen in mountain areas of Switzerland risked breaking their necks to get the Christmas …

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Lawsuit seeks freezing of Tezos Foundation assets

2017-12-22

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2017-12-22

A fourth Tezos lawsuit filed in the United States has called on Californian courts to freeze an estimated $1 billion (CHF990 million) of investor assets sitting in a Swiss-based foundation. Law firm Block & Leviton argues that the recent departure of a Tezos Foundation director and the apparent replacement of the entity’s auditor gives weight to its demand for funds, derived from an initial public offering (ICO) in July, to be frozen.

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Swiss tourism – sharp rises and falls from some countries over the summer

2017-12-22

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2017-12-22

Selfie
The number of visitors to Switzerland rose 6% this summer, but this headline figure hides some steep rises and falls. From May to October 2017, 11 million people holidayed in Switzerland, 644,000 more than the over same period in 2016.

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Jura farmers turn their hand to spirulina production

2017-12-21

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A Swiss family business has branched out into the cultivation of spirulina, an aquatic microalgae that has become a much sought-after food supplement. (SRF/swissinfo.ch) — swissinfo.ch is the international branch of the Swiss Broadcasting Corporation (SBC). Its role is to report on Switzerland and to provide a Swiss perspective on international events. For more articles, interviews and …

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Switzerland should not act alone against tax havens

2017-12-21

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2017-12-21

Switzerland must not go to war on its own against offshore tax havens in the wake of the Panama Papers scandal, the lower chamber of parliament has agreed. It prefers concerted action with other countries and wants to see the results of existing measures. The House of Representatives on Thursday rejected two motions and two parliamentary questions, supported by the leftwing Social Democrats and Greens, which had called for financial transactions...

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