Category Archive: 3) Swiss Markets and News

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Investec
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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World’s Ultra-Rich Preparing For Market Crash, UBS Warns

2019-11-16

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2019-11-16

S&P 500 Index, 2013-2021
A synchronized global slowdown, with no end in sight, has spooked some of the wealthiest investors around the world, according to a new survey from UBS Wealth Management, seen by Bloomberg. UBS polled wealthy investors, who are preparing for a significant stock market correction by the end of next year. 

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Additional funds set aside for transalpine rail transport 

2019-11-15

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2019-11-15

The Swiss government has decided to earmark CHF180 million ($182 million) as part of a package to promote the transfer of heavy-goods transport from road to rail. In its bill to parliament, the government foresees an extension of payments to transport companies using freight trains until 2026 and a decrease in so-called track access charges with CHF90 million each.

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Time limit to exchange old banknotes eliminated

2019-11-15

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2019-11-15

Banknotes as old as 1976 can soon be traded in at the national bank following a decision by the federal government to eliminate the 20-year time limit. The Swiss National Bank (SNB) issues a new series of banknotes every 15 to 20 years and removes the old notes from circulation. Six months later, the old notes don’t have a legal tender and therefore can’t be used as a means of payment.

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Telecom operator Sunrise to pay up for failed deal

2019-11-14

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2019-11-14

Following shareholder pushback, Swiss telecom operator Sunrise has cancelled the purchase contract for the cable network operator UPC, officially burying the controversial deal. This is another failed attempt to challenge industry leader Swisscom.

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Cross-border workers entering Switzerland set record in 2019

2019-11-13

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2019-11-13

The number of people from neighbouring countries commuting to Switzerland for work each day reached a record 325,000 this year. The increase was felt especially in cantons Ticino and Geneva. Following a slight drop in 2018, the Swiss job market is once again attracting cross-border workers in historically high numbers. Some 325,291 peopleexternal link entered the country each day in the third quarter of 2019, beating the previous record of 316,491...

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No Swiss citizenship for WEF founder Schwab, reports say

2019-11-13

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2019-11-13

World Economic Forum founder Klaus Schwab will not be receiving honorary Swiss citizenship, despite the idea having being mooted earlier this year. Such an honorary conferral of the passport has no basis in Swiss law, the Federal Justice Office announced on Tuesday, after it was contacted by the daily Südostschweiz newspaper.

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Billionaires’ club shrinks as economy wobbles

2019-11-12

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2019-11-12

The world lost 57 billionaires last year as economic woes and the unexpected strengthening of the US dollar wiped $388 billion (CHF386 billion) from their combined wealth. Switzerland had three fewer billionaires; the 33 who remain saw their bank accounts shrink by $16 billion.

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Billionaire Boom “Has Now Undergone A Natural Correction”

2019-11-11

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2019-11-11

Fifteen Years of asset growth, 2003-2018
Over the last five years ending in 2018, the billionaire boom created more billionaires than the world has ever seen. These financial elites saw their wealth increase by more than a third over the same period, but as soon as 2018 rolled around, the billionaire boom deflated, according to a new UBS/PwC Billionaires Report.

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French-speaking cantons biggest winners from next year’s fiscal transfers

2019-11-11

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2019-11-11

The amount of money paid by “rich” cantons to “poor” ones will rise by CHF 61 million to CHF 5.3 billion in 2020, according to a recent government press release. The only French-speaking canton paying will be Geneva. All of the rest will see the sums they receive rise compared to 2019. In 2020, Geneva will pay CHF 275 million, down slightly from the CHF 300 million it paid in 2019.

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More than 100 members of Extinction Rebellion convicted in Switzerland

2019-11-10

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2019-11-10

In September 2019, groups of people belonging to the group Extinction Rebellion blocked two road bridges in Lausanne. Local police cleared the bridges by removing, in some cases carrying, protesters away. On 7 November 2019, 117 of the people involved in the bridge protests were convicted and fined for breaking Switzerland’s penal code, according to RTS.

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Demobilising Swiss merchant navy to cost another CHF100 million

2019-11-09

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2019-11-09

Switzerland will incur a further CHF100 million ($101 million) loss as it continues to reduce its merchant shipping fleet. The ongoing bill for selling off ships and meeting their debt obligations has now risen to an estimated CHF300 million, the government has admitted.

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Geneva to ban Uber if it doesn’t change its operating model

2019-11-09

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2019-11-09

After a legal analyis the government of the canton of Geneva has decided that drivers of the ride hailing service are employees rather than independent contractors, effectively banning Uber from operating under its current model. In an interview with RTS, Mauro Poggia, a lawyer and Geneva state councillor, said that Uber is a transport company and as such must employ its drivers.

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Business Is An Adventure returns to South Africa

2019-11-08

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Sir Richard Branson, in partnership with Investec, hosted the ‘Business Is An Adventure’ event in Johannesburg on Thursday, 7 November 2019. This inspiring gathering, that was last held in South Africa in 2017, brought together masters and mavericks of business for lively debates and inspirational entrepreneurial insights. Highlights of the ‘fireside chats’ are captured in …

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Using lake water to help reduce Switzerland’s carbon footprint

2019-11-08

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2019-11-08

Swiss lakes offer huge potential as renewable energy sources that can be used to cool and heat buildings. Geneva is expanding a pioneering thermal exchange project to help meet its climate goals, while other regions are taking the plunge. After transport, the second and third biggest sources of national greenhouse gas emissions are Swiss industry (20% of total in 2017) and households (18%).

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Business Is An Adventure with Sir Richard Branson

2019-11-07

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Virgin Atlantic, in partnership with Investec, presents Business Is An Adventure. Headlined by Sir Richard Branson and featuring other high level entrepreneurs and thought leaders.⁣ ⁣ Catch Sir Richard Branson (Founder, Virgin Group) and Stephen Koseff (Co-Founder, Investec) in a ‘fireside chat’ with moderator Redi Tlhabi, giving us their takes on national and international prospects …

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Swiss train problems being solved, says manufacturer

2019-11-07

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2019-11-07

Bombardier says it expects to deliver all 62 double-decker express trains ordered by Swiss Federal Railways by summer 2021. Deliveries should have been made as early as 2013 but have been fraught with technical problems. The trains were ordered in 2010 for a total of CHF 1.9 billion ($1.9 billion), making it the largest contract in the history of rail transport.

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Why is solar power struggling to take off in Switzerland?

2019-11-07

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2019-11-07

Solar energy is the main source of renewable energy in Switzerland, after hydroelectric power. But its potential is far from being exploited, according to industry experts. In 1982 Switzerland became the first country in Europe to connect a photovoltaic plant to the electricity network. Ten years later it inaugurated what at the time was the continent’s largest solar power station.

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Nestlé accused of sourcing palm oil linked to forest fires in Indonesia

2019-11-06

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2019-11-06

The environmental group Greenpeace claims that the Swiss food giant procured palm oil from suppliers linked to around 9,700 fire hotspots in Indonesia this year. A Greenpeace reportexternal link released on Monday examines the supply chain of four major food companies – Nestlé, Unilever, Procter & Gamble and Mondelēz – and compares them to palm oil suppliers that are under investigation for starting illegal fires.

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There’s plastic in your beer: here’s why

2019-11-06

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Plastic is all around us: it’s so present in our everyday lives we don’t just find it in our cupboards and on our desks, we even find it inside human bodies. A study published by the University of Newcastle found plastic traces all the way inside our muscles. For a material that’s so intrinsic to the way we live, recycling plastics is surprisingly difficult, and still seems to be a riddle in Switzerland. As waste management is in each canton or...

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There’s plastic in your beer: here’s why

2019-11-06

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Plastic is all around us: it’s so present in our everyday lives we don’t just find it in our cupboards and on our desks, we even find it inside human bodies. A study published by the University of Newcastle found plastic traces all the way inside our muscles. For a material that’s so intrinsic to … Continue reading »

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