Category Archive: 3.) Swiss Business and Economy

Funding for start-ups barely dented by coronavirus

More than CHF2 billion of venture capital flowed into young Swiss companies for the second year in a row, a sustained rate of funding that defied the economic destruction wreaked by the pandemic last year.

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How Vaccine Technology, Choice and Supply Work in Switzerland

The Swiss Covid-19 vaccination campaign is up and running with two approved vaccines available to accelerate the fight against the virus, and others set to follow. How do the vaccine technologies work and compare, and can people choose which one they get?

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Swiss Corporate Merger Activity Dampened by Covid

The coronavirus pandemic left its mark on mergers and acquisitions (M&A) in Switzerland last year. The volume of transactions halved, and the number of deals was also down. Overall, the number of transactions with Swiss participation fell from 402 to 363. At $63.1 billion (CHF56 billion), the transaction volume was only half what it was in 2019 – mainly owing to the absence of mega-deals, consultants KPMG said on Thursday.

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Why does Davos Man get it so wrong?

The World Economic Forum should put global leaders in the audience to listen to social workers, virologists and reporters, argues Simon Kuper.

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Top Swiss banker Collardi reprimanded by financial watchdog

Former Julius Bär CEO Boris Collardi has had his knuckles rapped by the Swiss Financial Market Supervisory Authority (FINMA) following an investigation into money laundering.

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Swiss multinationals draw blurry political lines in the sand

Our analysis of what the biggest global companies in Switzerland are up to. This week: corporate funding in politics, diamond billionaire on trial and high hopes for the economy.

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Swiss probing corruption linked to Lebanon central bank

The Swiss attorney general's office has requested legal assistance from Lebanon in the context of a probe into "aggravated money laundering" and possible embezzlement tied to the Lebanese central bank, Reuters reports from Beirut.

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WEF warns of ‘increasing disparities’ due to Covid-19 pandemic

Infectious diseases, extreme weather events and cybersecurity problems pose key threats to society in the next two years, the World Economic Forum (WEF) warns. The Covid-19 pandemic looks set to have a lasting impact in the next ten years.

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A Swiss sausage maker in Denver

Born in Zurich, Eric Gutknecht came to the US with his parents when he was a little boy. Today he runs a sausage factory in Colorado. Gutknecht did two charcuterie-making apprenticeships in Switzerland. His professional experience includes teaching economics and working as a business analyst. In 2003, he and his wife, Jessica, took over the family sausage business in Denver. Today, CharcūtNuvo provides grocery stores and Swiss clubs all over the...

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UBS to close a sixth of its Swiss branches

The closures will affect 44 of the bank’s 239 branches in the country, mainly smaller ones, UBS confirmed on Tuesday. The bank plans to continue beefing up its online offers.

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Covid-hit restaurants call for ‘compensation now’

Half of all hotel and restaurant businesses in Switzerland will go bankrupt by the end of March if they do not receive immediate financial compensation for the effects of coronavirus restrictions, warns the sector’s umbrella organisation.

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Swiss mom an ‘unofficial cultural ambassador’ in America

She kept dreaming of being on a plane that never reached its destination. Those dreams stopped about a year after moving to Colorado. “The pilot would drop us off in a desert, or in the Alps, or the luggage would blow away,” remembers Regula Grenier, who has lived in Colorado since 2007. She sees the end of those dreams as a sign that she’s finally found the right place to live. Originally from Einsiedeln in central Switzerland, Grenier quips...

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Switzerland hit by widespread malware campaign

Several security bodies in Switzerland have been targeted by emails that appear to come from official organisations such as banks or the police and contain a password for a zip file. When this file is opened, the computer becomes infected with a trojan called Emotet.

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Two globally pioneering technologies among Swiss energy prize winners

A floating solar power plant and a transport project using renewable hydrogen are among the winners of the 2021 Watt d’Or prize. 

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Charity works overtime to support Covid-stricken mountain firms

A Swiss fund that supports small businesses in alpine regions bailed out 100 firms last year that were affected by the coronavirus pandemic. Schweizer Berghilfe (Swiss Mountain Aid) doled out an extra CHF2 million ($2.26 million) to support Covid-hit enterprises.

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A Swiss Rifle Club in America

Swiss rifles were coveted during the American revolutionary and civil wars. Today they’re used for fun by the Swiss Rifle Club of Minneapolis. In the late 1980s, a group of Swiss expats living in Minnesota – all employed by food technology company Bühler – decided to form a shooting club to maintain a tradition from the homeland. They made a deal with a local club willing to share its facilities, and got the green light from the Swiss military,...

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Covid-19 drives new car sales down to historic low

The Swiss automobile industry registered its worst result in over 40 years, as the number of new cars hitting the road in 2020 fell by a quarter compared to the previous year.

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Immigration Zuwanderung in die Schweiz – Mehr Probleme oder mehr Wohlstand?

The Swiss automobile industry registered its worst result in over 40 years, as the number of new cars hitting the road in 2020 fell by a quarter compared to the previous year.

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OECD should focus on climate crisis and inequality, says Hildebrand

Former Swiss National Bank Chairman Philipp Hildebrand has been nominated by Switzerland to lead the Organisation for Economic Cooperation and Development (OECD), whose Secretary General Angel Gurria is leaving in May 2021.

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Swiss continue search for absconded British tourists

Swiss cantons are still trying to identify tourists from the UK and South Africa who are staying in their resorts or who fled to escape Covid quarantine. Canton Valais, home to many popular ski resorts such as Verbier and Zermatt, is struggling. This content was published on December 30, 2020 - 14:03 December 30, 2020 - 14:03 Keystone-SDA/ts At the weekend an estimated 200 British tourists crept out of Verbier during the night, with hotel...

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