Category Archive: 3) Swiss Markets and News
Switzerland fears impact of minimum corporate tax rate
Switzerland may have to find alternative ways to welcome foreign companies to Switzerland. Keystone / Peter Klaunzer
This content was published on April 27, 2021 - 09:00
April 27, 2021 - 09:00
Matthew Allen
When not covering fintech, cryptocurrencies, blockchain, banks and trade, swissinfo.ch's business correspondent can be found playing cricket on various grounds in Switzerland - including the frozen lake of St Moritz. ...
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Ex-roads ministry worker ‘paid CHF2,000 a month’ to rig emissions data
A former employee at the Swiss Federal Roads Office (FEDRO) and two board members of a vehicle exporter have been charged with fraudulently manipulating data to avoid CO2 emissions sanctions.
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Swiss bank pays up to settle German tax evasion probe
Switzerland’s Migros Bank has agreed to pay €2.4 million (CHF2.65 million) to clear up cross-border tax evasion issues with Germany. Migros is one of several Swiss banks that have shelled out a penalty to avoid prosecution in the neighbouring country. Other banks to have made such an arrangement in the past include UBS, Credit Suisse and Julius Bär.
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WEF set to return to Davos in 2022
The annual meeting of the World Economic Forum (WEF) is set to take place in the Swiss mountain resort of Davos again next year. However, reasonable hotel rates are a prerequisite and the Covid-19 situation is also a decisive factor, according to organisers.
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Covid: the 3 phases of Switzerland’s return to normal
This week, Switzerland’s government set out the three phases of its plan to return to normal at a press conference recorded by RTS. The first is the protection phase, which we are currently in. This involves vaccinating the vulnerable and could last until the end of May 2021.
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Das Beste von Topsy | UBS Topsy
Die besten Abenteuer von Topsy und seinen Freunden. Spiel und Spass mit dem Sparfuchs Topsy – der Kinderwelt von UBS für Kinder bis acht Jahren.
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Covid: 80 percent of nation must be immunised to stop spread, says Swiss health minister
This week, Alain Berset, Switzerland’s health minister said that 80% of the population must be immunised for the virus to stop spreading, according to RTS. Vaccination against the SARS-CoV-2 virus is voluntary in Switzerland.
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Credit Suisse’s Archegos Exposure Was Reportedly Over $20 Billion
Just minutes after the SEC is reportedly "exploring how to increase transparency for the types of derivative bets that sank Archegos," The Wall Street Journal reports that Credit Suisse Group AG had somehow allowed a massive exposure to investments related to Archegos Capital Management or more than $20 billion.
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Swiss firms get international boost for exports
The government has pledged CHF7.8 million ($8.5 million) over the next three years to help Swiss companies participate in major infrastructure projects abroad.
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How Credit Suisse rolled the dice on risk management — and lost
Five months before Greensill Capital’s collapse, Credit Suisse invited a special guest to present to its top ranks in Asia. The visitor was hailed as the sort of bold entrepreneur the bank wanted to do business with: Lex Greensill. “The tone was this is the exact kind of client the bank wants, tell the MDs to go out and find more guys like Lex,” said one senior manager who watched the November video conference.
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Swiss digital asset trading network expands
A blockchain-inspired trading infrastructure, which links banks, companies and investors to cryptocurrencies and a new breed of digital securities, is nearing fruition in Switzerland.
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Aviation industry demands action to get planes back in the air
Business, tourism and trade union leaders have put forward an action plan to get Swiss air transport back in action as the coronavirus pandemic drags on.
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A big festival for small screens: Visions du Réel goes virtual again
The pandemic looms over the Swiss documentary festival, but is far from being the main topic. Some films tackle the social effects of quarantine, such as Pacho Velez's "Searchers", which explores how social networks helped to compensate for the loneliness of isolation. Visions du Réel
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Swiss public institutions hit hard by white-collar crime
Swiss courts dealt with 52 major cases of economic crime last year that amounted to CHF355 million ($384 million) in losses, the consultancy firm KPMG said on Thursday. Public institutions were especially targeted by fraudsters.
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Minimum wage hurting young people in Swiss canton
Around three years ago, the Swiss canton of Jura introduced a minimum wage of CHF 20 an hour (US$ 21.65). Now there is political pressure relook at the move, according to RTS.
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Restaurants to re-open despite high Covid infection rate
The Swiss government has decided to allow outdoor tables in restaurants and bars again as of next Monday, following a four-month temporary closure. As part of its anti-Covid strategy, cultural and sports events will be open to the public under certain conditions, a government statement said.
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Government approves accord with UK to ease trade for companies
The Swiss government has approved an agreement with Britain on mutual recognition of companies with “AEO” customs security approval, designed to facilitate trade. This agreement is “intended to reduce technical barriers to trade and facilitate trade with the United Kingdom for companies with AEO status”, according to a government press release on Wednesday. The accord has yet to be ratified by Britain.
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Fighting the pandemic blues – S02E01
Last year, as the coronavirus pandemic hit Switzerland, and the rest of the world, we asked our readers and followers to look at the bright side of those dark times. With the pictures and videos they sent us we compiled a season made of six episodes, filled with tiny moments of joy.
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Credit Suisse Slashes Bonuses After $4.7 Billion Archegos Disaster
While all of the banks playing "pass the hot potato" with Archegos Capital's now-dismantled equity book are undoubtedly still assessing the damage they incurred (or at least will report to shareholders), it looks like no one had it worse than Credit Suisse. The banking giant has now slashed its bonus pool by "hundreds of millions of dollars" according to FT, after the firm lost $4.7 billion in the Archegos implosion.
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