Category Archive: 3.) Swissinfo Business and Economy

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Switzerland shares details of 3.1 million bank accounts held by foreigners

2019-10-08

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2019-10-08

In its second-ever data sharing exercise as part of a global automatic exchange of information (AEOI) treaty, Switzerland shared financial account information with 63 partner countries. On Monday, the Swiss Federal Tax Authority revealed that it had provided details of around 3.1 million bank accounts held by foreigners to the countries of their origin.

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‘A Swiss should run Credit Suisse’ ex-CS head tells newspaper

2019-10-07

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2019-10-07

In an interview with the newspaper NZZ am Sonntag, former Credit Suisse CEO Oswald Grübel has criticized the large Swiss bank for its handling of the current crisis. By maintaining that CEO Tidjane Thiam was unaware of the spying affair, the bank is harming the Swiss financial sector, Grübel said in an interview published on Sunday.

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Hackers attack Swiss consumer protection agency

2019-10-06

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2019-10-06

Hackers successfully attacked the website of the Swiss Consumer Protection Foundation last month, placing links to fake stores within the agency’s online shopping pages. The hack was detected within two hours and the malicious links were removed, said the foundation, which regularly warns consumers about online fraud.

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EU to remove Switzerland from tax haven lists

2019-10-05

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2019-10-05

European Union finance ministers are set to remove Switzerland and the United Arab Emirates (UAE) from the bloc’s lists of countries deemed to act as tax havens, an EU document said. On October 10 they are expected to remove Switzerland from the grey list that includes countries that have committed to change their tax rules to make them compliant with EU standards.

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Novartis and Microsoft to develop drugs using AI

2019-10-05

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2019-10-05

Swiss pharmaceutical firm Novartis and computer giant Microsoft have signed a five-year partnership deal aimed at transforming the Basel-based pharma’s business - from finance to manufacturing - using artificial intelligence.

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Fête des Vignerons seeks millions to fill financial hole

2019-10-04

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2019-10-04

The organisers of the Fête des Vignerons – a traditional winegrowers’ festival in the Swiss lakeside town of Vevey – is scrambling to cover its multi-million-franc deficit for 2019. The local winegrowers’ guild behind the once-in-a-generation private festival, which started in the 17th century, reported a CHF15 million ($14.9 million) loss for the 2019 edition on Tuesday.

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Credit Suisse braced for ‘spygate’ reputational fallout

2019-10-03

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2019-10-03

The usually discrete world of Swiss private banking has been shaken by spying revelations at Credit Suisse, the country’s second largest wealth manager. Chairman Urs Rohner has acknowledged that the sordid affair has damaged the reputation of the bank and the Swiss financial centre.

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Credit Suisse COO resigns over spying scandal

2019-10-02

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2019-10-02

Credit Suisse Group Chief Operating Officer Pierre-Olivier Bouee has resigned following a spying scandal that has rocked Switzerland’s financial circles and which the lender said caused severe reputational damage to the bank. Bouee, a long-time associate of Chief Executive Officer Tidjane Thiam, assumed responsibility for the surveillance of former Credit Suisse executive Iqbal Khan along with the bank’s head of security.

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How a father-son duo is helping save bees

2019-10-01

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Pascal Brunner is a young Swiss who grew up in a beekeeping family. He and his father have launched a start-up that combats one of today’s biggest threats to bee populations: the Varroa mite. Vatorex is a heat treatment which kills the mites, but doesn’t harm the bees, when applied. It differs from other Varroa-mite-fighting …

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What Swiss living abroad want from politicians at home

2019-10-01

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What do Swiss citizens abroad expect from a new parliament? From the politics of their homeland? We asked them. — swissinfo.ch is the international branch of the Swiss Broadcasting Corporation (SBC). Its role is to report on Switzerland and to provide a Swiss perspective on international events. For more articles, interviews and videos visit swissinfo.ch …

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This Swiss start-up wants to help us empathise

2019-10-01

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What if you could beam people into your world, not using futuristic equipment, but a smartphone? This is what HoloMe, a Swiss start-up in London, sees as the future of communication. — swissinfo.ch is the international branch of the Swiss Broadcasting Corporation (SBC). Its role is to report on Switzerland and to provide a Swiss …

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A sex change in the army

2019-10-01

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Lieutenant colonel Christian Hug told his bosses that he was going to become a woman. The army supported his decision and now Christine is the first transgender Swiss army officer. She will soon undergo a sex change operation. — swissinfo.ch is the international branch of the Swiss Broadcasting Corporation (SBC). Its role is to report …

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Swiss accident insurer to cut 170 jobs

2019-10-01

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2019-10-01

Between 2021 and 2027, the Swiss National Accident Insurance Fund (SUVA)external link plans to cut about 20% of its jobs in the claims management department. Currently, that department has more than 800 jobs, including agency clerks, district physicians, insurance physicians at the head office and lawyers for objections and court cases.

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Libra stablecoin project ‘no threat’ to financial system

2019-09-30

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2019-09-30

Facebook’s Libra cryptocurrency poses no threat to central banks or to financial law and order, the head of the Geneva-based Libra Association tells swissinfo.ch. Many regulators, politicians and central banks have reacted with alarm to the proposed new digital payments system.

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BNP Paribas bank accused of complicity in Sudan rights abuses

2019-09-29

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2019-09-29

Victims of rights abuses in Sudan have filed a legal complaint against the French BNP Paribas bank and its Swiss subsidiary, accusing them of complicity in crimes against humanity, genocide and torture allegedly committed in Darfur between 2002 and 2008.

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Chasing wealth managers is a risky business

2019-09-28

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2019-09-28

Zurich is a sober and orderly city, so a fierce altercation near the Swiss National Bankexternal link between a banker to the world’s billionaires and a private detective who was trailing him is worthy of John Le Carré. It is all the more lurid that Credit Suisse ordered surveillance of Iqbal Khan after he left abruptly for its rival UBS.

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US stamps policy on the Universal Postal Union

2019-09-27

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2019-09-27

I think it’s fair to say many people may not have heard of the Universal Postal Union (UPU). Its unassuming headquarters sits peacefully in a leafy suburb of Bern. It is the only United Nations agency to grace Switzerland’s capital with a presence. In fact, the UPU is older than the UN itself. Founded in 1874, its mandate is to regulate the booming new (in the 19th century) international communication of letters and parcels.

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The rebellion comes to Switzerland

2019-09-24

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Turning the Limmat river green, organising picnics on bridges, blocking busy roads: climate activists from the Swiss chapter of the Extinction Rebellion group have been ramping up the number of civil disobedience actions undertaken in recent months. Why? Anaïs Tilquin, a member of the group, explains.⁠ Nouvo brings you short videos about Switzerland, Swiss current …

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How Heidi helped us make friends

2019-09-18

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How Heidi helped us make friends — swissinfo.ch is the international branch of the Swiss Broadcasting Corporation (SBC). Its role is to report on Switzerland and to provide a Swiss perspective on international events. For more articles, interviews and videos visit swissinfo.ch or subscribe to our YouTube channel: Website: http://www.swissinfo.ch Channel: http://www.youtube.com/swissinfovideos Subscribe:...

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Swiss in New Orleans say 2019 is the year to vote

2019-09-16

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Should Swiss living abroad have a say on votes and elections back home? — swissinfo.ch is the international branch of the Swiss Broadcasting Corporation (SBC). Its role is to report on Switzerland and to provide a Swiss perspective on international events. For more articles, interviews and videos visit swissinfo.ch or subscribe to our YouTube channel: …

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