Category Archive: 3) Swiss Markets and News

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Investec is a distinctive Specialist Bank and Asset Manager. We provide a diverse range of financial products and services to a niche client base in three principal markets, the United Kingdom, South Africa and Australia, as well as certain other geographies. Investec’s strategic goals are motivated by the desire to develop an efficient and integrated business on an international scale through the active pursuit of clearly established core competencies in the group’s principal business areas.
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Poverty in Switzerland rises 10 percent in a year 

2019-12-19

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2019-12-19

Although Switzerland is rich, poverty within the country continues to rise, says a report released on Tuesday. Poverty affected 675,000 people including 100,000 children in 2017, a 10% increase on the previous year, according to the report (in French) by the non-governmental organisation Caritas.

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Court rejects Lake Zurich cablecar project

2019-12-18

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2019-12-18

A Zurich court has rejected plans for a cablecar link crossing over Lake Zurich, stating that the project, known as ‘Zuribahn’, did not have sufficient local support. The court annulled construction plans for the city cablecar, which had been presented by Zurich Cantonal Bank (ZKB) to mark the bank’s 150th birthday in 2020.

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Court rejects damages claims against Volkswagen and Swiss importer

2019-12-18

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2019-12-18

A Zurich commercial court has dismissed claims for damages by a consumer group against the German car firm Volkswagen and Swiss importer Amag, linked to the “Dieselgate” emissions-rigging scandal. In a December 6 ruling published on Tuesday, Zurich canton’s commercial court said the SKS consumer group did not have the legal status or procedural capacity to file a complaint.

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Paper reports new surveillance case involving Credit Suisse executive

2019-12-17

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2019-12-17

A senior Credit Suisse human resources executive was tailed by private investigators in February, the Neue Zuercher Zeitung (NZZ) newspaper reported on Tuesday. The Swiss bank was rocked by a highly damaging spygate case earlier this year involving the surveillance of former wealth management boss Iqbal Khan.

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Léman Express to cut Geneva traffic jams

2019-12-17

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2019-12-17

Commuters got their first proper taste on Monday of what's been hailed as the largest cross-border regional rail network in Europe, the Léman Express.The network, which opened officially on Sunday, is the result of decades of planning and almost eight years of construction work. It offers a fast cross-city rail link from Geneva's central train station to Annemasse in France.

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Novartis withdraws patent claim on leukaemia treatment

2019-12-16

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2019-12-16

Swiss pharmaceutical giant Novartis has backed down in a patent dispute over the leukaemia therapy Kymriah following opposition from NGOs. The Swiss NGO Public Eye is claiming victory in the European Patent Officeexternal link battle, but Novartis says the patent in question was only one of several it has in place on the (CAR)-T cell therapy treatment it had developed together with the University of Pennsylvania.

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Swiss economy tipped to remain stagnant next year

2019-12-15

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2019-12-15

The Swiss economy is not expected to see any sustainable growth until 2021 at the earliest, according to government forecasters. The Swiss National Bank (SNB) agreed, keeping negative interest rates unchanged. A government expert group concluded that economic growth would rise only 0.9% this year, 1.7% in 2020 and 1.2% in 2021.

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Swiss firms’ investments double abroad  

2019-12-14

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2019-12-14

Companies in Switzerland invested double the amount abroad in 2018 than the previous year, figures show. But foreign investors withdrew capital from Switzerland due to a US tax reform. In 2018, companies domiciled in Switzerland invested CHF 61 billion abroad ($62 billion) (compared to CHF30 billion in 2017). Around three-quarters of the direct investment were from firms in the services sector, the Swiss National Bank said on Friday.

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AI – the next frontier

2019-12-13

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Artificial Intelligence will be the biggest disruptor of business, says Takealot’s Kim Reid, but Richard Branson warns that the human cost will be high if solutions aren’t found for unemployment #BusinessIsAnAdventure Find out more: https://invest.ec/36xFiyd

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Can Swiss business and human rights co-exist?

2019-12-13

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2019-12-13

Switzerland performs a delicate dance when it comes to promoting business interests, maintaining neutrality and defending human rights. Daniel Warner looks at recent examples and the stakes at play. Doing business with other countries and promoting human rights can and do go hand in hand, Swiss State Secretary for Foreign Affairs Pascale Baeriswyl recently told swissinfo.ch.

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Nestlé identifies over 18,000 child labourers in cocoa supply chain

2019-12-12

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2019-12-12

As part of its monitoring programme, Swiss multinational Nestlé has identified 18,283 children performing “unacceptable” tasks at cocoa farms that supply beans to the company. Over half have been rehabilitated following company intervention. In 2012, Nestlé established a Child Labor Monitoring and Remediation System (CLMRS) in partnership with the International Cocoa Initiative (ICI) in the Ivory Coast to identify children at risk of carrying out...

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Swiss seek compromise amid ‘lack of will’ at climate talks

2019-12-11

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2019-12-11

This year, the signal from the scientific community has been loud and clear on climate change: something needs to be done, and soon. But leadership at the United Nations’ annual climate conference appears less clear-cut, and the head of the Swiss delegation is frustrated by hesitation to move ahead.

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Is my legacy a gift or poisoned chalice?

2019-12-10

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Many wealthy families to leave a legacy, either through ensuring the financial well-being of their heirs or through meaningful bequests to worthy causes, but how do they do so in an increasingly complex world? Find out more: https://invest.ec/38pd626

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How business can help save South Africa

2019-12-10

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Sir Richard Branson and Stephen Koseff discuss South Africa’s current challenges, the need to reimagine education and how business can help government with issues like climate change. Find out more: https://invest.ec/2RCC204

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Diversity makes cents

2019-12-10

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Diversity and inclusion in the workplace – why you can’t have one without the other. Claire Mawisa talks to Faith Popcorn, Futurist and Author Thando Hopa, Tashmia Ismail-Saville and Investec’s Marc Kahn at Virgin Atlantic #BusinessIsAnAdventure. Find out more: https://invest.ec/2RCC204

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Swiss asset managers linked to Austrian corruption scandals

2019-12-09

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2019-12-09

Swiss asset managers are involved in some of Austria’s biggest corruption scandals, according to the SonntagsZeitung newspaper. The paper writes that in ongoing cases involving far-right politicians Jörg Haider, Karl-Heinz Grasser and Heinz-Christian Strache, the trail leads back to Zurich, Zug and Nidwalden in Switzerland. It sources this information to a whistleblower.

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Another month of falling prices in Switzerland

2019-12-09

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2019-12-09

Swiss prices fell by 0.1% in November 2019, the sixth time in 12 months. But not everything is cheaper. Prices fell in December 2018 (-0.3%), January 2019 (-0.3), July (-0.5), September (-0.1), October (-0.2%) and November 2019 (-0.1). When combined with the low inflation experienced in the other 6 months the 12-month price drop is -0.1%.

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Some Swiss import duties could be axed

2019-12-08

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2019-12-08

Swiss import duties on a number of industrial products might disappear if a plan put forward by Guy Parmelin, Switzerland’s economic’s minister, is approved by the National Council, Switzerland’s parliament. The changes are expected to benefit businesses and consumers by around CHF 860 million a year. On the other hand, the government will miss out on collecting roughly CHF 500 million a year of revenue from import duties.

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Failed space flight firm was backed by ‘phantom bank’

2019-12-08

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2019-12-08

The company Swiss Space Systems (S3) received financial backing from a fictitious bank as it unsuccessfully fought against bankruptcy, according to media reports. S3, which promised simulated space flights to the public, collapsed in 2017 amid much controversy.

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Switzerland’s skilled worker shortage worsens

2019-12-07

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2019-12-07

At 30 September 2019, Switzerland had 79,000 job vacancies and 225,000 unemployed workers. This combination of unemployment and job vacancies can largely be explained by two things. The first is frictional unemployment, the period spent in between jobs. This typically increases when there is a lot of job changing. The second is a skills mismatch. Employers cannot find the skills they need among those seeking work.

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