Tag Archive: Business

Vote November 29: Spotlight on ethical business practices

A proposal to make Swiss-based multinationals accountable for their business practices abroad is tabled for a nationwide vote on November 29. An initiative aimed at restricting investments in the arms industry is the second issue on the ballot sheet. 

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Swiss advance plans to take goods transport underground

Building a 500-km tunnel network to transport goods under Central Switzerland is the ambitious aim of the “Cargo Sous Terrain” project. The vision has moved closer to reality since the Swiss government brought forward enabling legislation last month.

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Swiss multinationals: global heavyweights in high-risk sectors

Home to big players in the raw materials, food and chemicals industries, Switzerland boasts one of the world’s highest concentrations of multinational headquarters.

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Which US president would be best for Swiss business?

Swiss-US trade has been booming in recent years. Would it be better for the Alpine country to stick with the current set-up or trust in a potentially more conciliatory new American president?  

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Novartis boosts involvement in anti-Covid treatment

The biotech company and the pharmaceutical giant want to develop and market a drug with a unique approach for the prevention and treatment of Covid-19.

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Swiss consumers want repair label on electronic appliances

No less than 98% of people polled by a consumer protection alliance are in favour of a labelling system that evaluates the repairability of electronic and household appliances. Most of them were also prepared to pay more for a product that offered specific repair guarantees.

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Roche poised to launch mass Covid testing

Swiss drug firm Roche says it is to launch a new Covid-19 antigen test before the end of the year, allowing faster, higher-volume testing. One of the most potent use cases could be at airports to ease the severe restrictions on air transport.

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Banks making slow progress on diversity issues

A recent story from the New York Times implied that the resignation of Ivory Coast-born Tidjane Thiam at the helm of Credit Suisse earlier this year had racist undertones, and he was the only Black CEO among the world’s biggest banks. How does the banking world – especially Credit Suisse – address the issue of diversity among its ranks?

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Swiss refiner breaks industry silence on sourcing gold from risky areas

In a rare interview, PX Precinox CEO Philippe Chave defends his company’s record in Peru and says abandoning artisanal miners is not the way to achieve more sustainable and transparent mining practices.

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Swiss bank caught in Venezuelan money-laundering scandal

The Swiss Financial Market Supervisory Authority (FINMA) has found that Banca Credinvest “seriously violated money-laundering regulations” in its handling of Venezuelan client relationships.

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EasyJet reduces fleet and cuts jobs in Switzerland 

Faced with lower demand and with no recovery expected anytime soon, EasyJet Switzerland is withdrawing two of its 12 planes stationed in Basel. Seventy jobs will be lost. 

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Home office could lead to 10 percent less office space

Despite the easing of Covid-19 measures, remote working is still widespread in Switzerland, with almost a third of service sector employees still working from home.

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Greenland glacier water wins environmental shame award 

A mineral water from Greenland glaciers sold by Swiss retail chain Manor has been dubbed worst climate offender in this year’s “Devil’s Stone” award by the Swiss Alpine Initiative. 

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How much blockchain does the financial world need?

Central Bank Digital Currency (CBDC) is the buzz-phrase of the moment. But the Swiss National Bank (SNB) says producing digital Swiss francs for the general public would create many problems with unclear benefits. The Swiss government has backed up the central bank word for word.

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The colonial vision of Swiss multinationals

Switzerland is the home of many major multinational companies, many of which date back to the late 19th century, the high tide of colonialism. But is there a link between the rise of great Swiss corporate names and European colonial expansion? The issue turns out to be a complex one.

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The slow but steady progress of driverless buses in Switzerland

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

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)

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

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

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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