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Category Archive: 3.) Swissinfo Business and Economy

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Nine out of ten Swiss are satisfied with their job

2019-08-21

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2019-08-21

The vast majority of Swiss people enjoy going to work. In a survey by consultants EY, 87% said they were satisfied or very satisfied with their job. Although the figure has barely changed since last year, differences between sectors persist. In the construction industry and in mechanical and systems engineering, for example, satisfaction has increased significantly.

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Swiss groundwater quality threatened by pollution

2019-08-18

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2019-08-18

Pollution from agriculture, former industrial sites and landfills is threatening Switzerland’s groundwater reserves, according to a detailed study of water quality. The water quality study from the Federal Office for the Environment (FOEN), released on Thursday, said groundwater faces the greatest pressures in areas of high farming activity.

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Swiss pharma executive gets US sanction for insider trading  

2019-08-17

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2019-08-17

The US Securities and Exchange Commission (SEC) has fined Lorenz Erne, a former senior executive at Swiss pharmaceutical firm Roche, for insider trading and ordered him to pay back the ill-gotten profits. Erne accepted the accusations and agreed to the terms of a settlement with the SEC, according to an SEC document published on Thursday. He has to pay back $159,228 (CHF156,000) plus a fine of $79,614 within 14 days to the SEC “for transfer to the...

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Swiss financial sector shines in international survey 

2019-08-13

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2019-08-13

Switzerland’s financial centre has a positive reputation abroad, despite a string of scandals in 2018, according to a 19-nation survey conducted by Presence Suisse. The reputation and quality of Swiss banks were rated as “good” to “very good” by most respondents in the international poll of 12,767 people. The ethics and responsibility of the Swiss banking sector are also well regarded.

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Survey shows growing political acceptance for a fuel tax

2019-08-12

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2019-08-12

Analysis of survey questions filled out by Swiss politicians in 2015 and 2019 shows a marked turnaround in attitudes towards the introduction of a carbon tax on fuel. The Smartvote online platform asks politicians various attitudinal questions in an effort to help voters make up their minds in the lead up to national elections.

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Novartis rejects suspected data manipulation in US

2019-08-09

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2019-08-09

Swiss pharmaceutical company Novartis has dismissed criticism that it allegedly withheld information about animal testing data inaccuracies to United States authorities for a human gene therapy. Novartis said its subsidiary in California began investigating the alleged data manipulation for its gene therapy Zolgensma as soon as it learned about it.

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Chinese-owned Swissmetal sold to Swiss investors

2019-08-08

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2019-08-08

The cash-strapped Baoshida Swissmetal company has been taken over by a group of Swiss investors six years after it was sold to a Chinese group. The newly-founded Swissmetal Industries, backed by two private investors, said it had acquired the firm, which employs about 160 people at two factories in the small towns of Dornach and Reconvilier.

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US tourists flocking to Switzerland amid economic boom  

2019-08-06

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2019-08-06

American visitors to Switzerland have increased by over 40% in five years and represent a major growth motor for the tourism industry, annual statistics show. Chinese and Indian tourists are often seen as the future of Swiss tourism, the SonntagsZeitung and Le Matin Dimanche newspapers reported at the weekend. However, they say, “North America is the real growth engine when it comes to overseas visitors”.

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Glencore suffers $350m hit as cobalt prices decline

2019-08-02

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2019-08-02

Glencore has taken a $350 million hit because of falling cobalt prices as the problems facing its African copper business continue to pile up. The Switzerland-based miner and commodity trader has been grappling with a string of issues in the Democratic Republic of Congo, where it operates two copper mines, and in Zambia, where it owns another asset.

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Nestlé invests CHF99 million in factory expansion in Indonesia

2019-08-01

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2019-08-01

The Swiss food giant has announced plans to invest CHF99 million (around $100 million) to expand three factories in Indonesia. The goal is to increase Nestlé’s production capacity in the country by 25%, according to a company announcement on Wednesday.

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Switzerland’s first integrated crypto asset exchange launched

2019-07-31

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2019-07-31

Smart Valor, the country’s first integrated cryptocurrency exchange offering custody, trading and brokerage, has gone live with nine crypto-fiat trading pairs. The assets on Zug-based platform, that was launched in 2017 as part of the Thomson Reuters Incubator, includes crypto currencies and security tokens.

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Switzerland assists Japanese probe into Carlos Ghosn 

2019-07-30

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2019-07-30

Canton Zurich’s public prosecutor is assisting the Japanese authorities in an inquiry related to bank accounts associated with Carlos Ghosn, the former leading auto executive. Tokyo prosecutors sent a request for legal assistance to Switzerland in January, a spokesperson for the country's Federal Office of Justice (FOJ) told swissinfo.ch.

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Lucerne Considers Coach Tax, other Measures to Manage Tourist Influx

2019-07-29

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2019-07-29

One of the most popular destinations in Switzerland is reviewing its tourism strategy and mulling introducing coach fees in a bid to curb traffic woes and other disruptions caused by the large number of tourists it welcomes.

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Federal Court to give verdict on UBS tax evasion case 

2019-07-28

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2019-07-28

Swiss Federal Court
The Swiss Federal Court is to decide on Friday whether Swiss bank UBS should handover data on its French clients to Paris tax authorities as part of a crackdown on suspected tax evasion. The decision has been described as key for Swiss banking circles.

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Expat Swiss Celebrated at Historic Winegrower’s Festival

2019-07-27

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2019-07-27

Colours of the Swiss flag
The expatriate Swiss community has been attending the once-in-a-lifetime Fête des Vignerons, currently taking place on the shores of Lake Geneva. A delegation of Swiss citizens living across the world, including leading members of the Organisation of the Swiss Abroadexternal link (OSA), gathered in Vevey to participate in the event on Thursday.

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