Tag Archive: Business

The slow but steady progress of driverless buses in Switzerland

2020-09-27

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2020-09-27

Over the past five years, various kinds of autonomous vehicles, including buses, have popped up on Swiss roads. But though testing continues, a driverless future might yet be some years away.

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Swiss regulator censures Bank Syz over money laundering

2020-09-26

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2020-09-26

The Swiss financial market regulator FINMA has reprimanded Bank Syz for breaching money laundering rules involving a business relationship with an Angolan client.

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Crypto Nation Switzerland evades Covid’s clutches (for now)

2020-09-17

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2020-09-17

The Swiss blockchain industry appears to be in rude health despite the economic fallout of the coronavirus pandemic. The number of new companies and jobs produced by the sector increased in the first six months of the year. Is this trend set to last?

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Swiss wind power held up by legal challenges

2020-09-16

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2020-09-16

For a decade, wind energy in Switzerland has been stalled. Opponents have used every possible means to stop projects. At the end of September, one community will vote on the future of this kind of energy.

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Credit Suisse makes digital push as it closes down branches

2020-09-14

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2020-09-14

Credit Suisse is taking on so-called challenger banks with a new digital service for customers, including a debit card with no foreign transaction fees. The bank is closing down branches across Switzerland and is converting others into a “digital bar” concept.

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No wave of coronavirus bankruptcies so far, study finds 

2020-09-13

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2020-09-13

Government credits and employment support measures have helped stave off a wave of bankruptcies, but they could rise over the longer term, says a survey. 

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Swiss law reforms make crypto respectable

2020-09-13

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2020-09-13

Bitcoin used to be something of a dirty word, associated with crime and money laundering. Switzerland has now amended its legal code to welcome cryptocurrencies and blockchain technology into the mainstream.

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Pandemic speeds up push to digital as bank branches close

2020-09-11

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2020-09-11

Swiss lender Credit Suisse is set to launch an overhaul of its digital banking offering, as it uses the coronavirus crisis as a springboard to accelerate the push from bricks-and-mortar branches to online services.

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Swiss regulator escalates probe into Credit Suisse

2020-09-06

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2020-09-06

The Swiss financial supervisor FINMA says it has opened enforcement proceedings against Credit Suisse into the 2019 spying affair that toppled the bank’s leadership and tarnished its reputation.

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High gold prices spur more illegal mining in Peru

2020-09-05

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2020-09-05

The boom in gold prices during the Covid-19 pandemic has kept Swiss refineries in business but has also boosted illegal mining, imperiling lives and the environment.

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Chinese-owned Swissport agrees emergency takeover

2020-09-04

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2020-09-04

A consortium of investors has agreed a €800 million (CHF860 million) bailout of Chinese-owned airport services company Swissport. Revenues at the company have nosedived since the onset of the coronavirus pandemic.

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Trading platforms profit from pandemic chaos

2020-09-02

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2020-09-02

While Covid-19 has been wreaking havoc on the economy, many banks and trading platforms have recorded bumper results. Profits were boosted by elevated trading activity, but future prospects are mixed depending on the type of financial player.

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Swiss Private Banks Brace for Coronavirus Impact

2020-08-29

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2020-08-29

Swiss Private banks
The Swiss private banking sector saw a resurgence in fortunes last year but faces an uncertain future as the Covid-19 pandemic continues to play havoc with financial markets. Favourable market conditions in 2019 allowed the 84 banks surveyed by KPMG to grow client assets by 14%, according to a recently published report by the audit firm.

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How I built my own Swiss watch – in a day

2020-08-19

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2020-08-19

Imagine assembling your own Swiss mechanical watch and taking it home with you at the end of the day. swissinfo.ch tried out the popular new concept run by Jura start-up Initium.

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Families face large differences in tax rates across Switzerland

2020-08-18

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2020-08-18

A comparison of tax rates across different cantons and cities found that Zug – home to many multinational companies – offers the most attractive tax regime for families.

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Swiss luxury watch retailer Bucherer to shed jobs

2020-08-16

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2020-08-16

The leading Swiss luxury watch and jewellery company Bucherer has announced it plans to slash 370 of its 2,400 jobs worldwide due to the coronavirus crisis hitting tourism.

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Banks braced as pandemic poses biggest test since financial crisis

2020-08-14

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2020-08-14

During the depths of the coronavirus crisis in Europe in late March, Sergio Ermotti remembers sitting in his home study in Lugano, reflecting on the latest financial meltdown to engulf his career as a banker.

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Swiss International Air Lines’ turnover halved due to coronavirus

2020-08-07

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2020-08-07

The economic repercussions of the coronavirus have caused turnover at SWISS to fall by 55% in the first half of 2020. With a turnover of CHF1.17 billion ($1.28 billion) between January and the end of June, the carrier suffered an operating loss of CHF266.4 million in the first half of the year, following an operating profit of CHF245.3 million a year earlier.

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Switzerland’s dark business with Ukrainian coal

2020-08-06

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2020-08-06

Pro-Russian separatists are financing their war in Ukraine with coal deliveries to the West. Now the role of Swiss companies in Zug and Geneva is being investigated, according to a report in the SonntagsZeitung. 

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Temporary employee sector hit hard by Covid-19 crisis

2020-07-30

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2020-07-30

The number of hours worked by temporary employees in Switzerland has dropped by about 23% due to the impact of restrictions imposed in the wake of the Covid-19 pandemic.

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