Tag Archive: Business

Big Swiss names surface in ‘Paradise Papers’

Politicians, business directors and companies in Switzerland are among those connected to the so-called Paradise Papers, a massive trove of leaked offshore investment documents. There is currently no evidence of any legal wrongdoing.

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The Swiss National Bank Now Owns A Record $88 Billion In US Stocks

In the third quarter of 2017, one in which the global economy was supposedly undergoing an unprecedented "coordinated growth spurt", and in which central banks were preparing to unveil their QE tapering intentions, in the case of the ECB, or raising rates outright, at the Fed, what was really taking place was another central bank buying spree meant to boost confidence that things are now back to normal, using "money" freshly printed out of thin...

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Lausanne cancels artist’s appearance over security fears 

A book festival in Lausanne has cancelled an invitation to Marsault, a controversial French comic book artist, after the organisers said they received threats from activists.The organisers of the Lausan'noir crime thriller book festivalexternal link say they will not be welcoming the French comic book artist Marsault to their event, which takes place in the Swiss city from October 27-29.

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Global billionaire club gets bigger and richer

The total wealth of the world’s 1,542 billionaires - including 35 in Switzerland - grew 17% to $6 trillion (CHF5.93 trillion) last year, led by a surge in Asia’s emerging billionaire class and growth in the materials, industrials, financial and technology sectors.

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Swiss industry has learned to live with strong franc

The recent appreciation of the Swiss franc has sent shockwaves through Swiss firms, resulting in job losses and lower research budgets. But viewed long-term, Switzerland’s export-driven economy has adapted remarkably well to a strong currency.

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Most young Swiss keep informed online

Social media is becoming increasingly dominant in the Swiss media industry, controlling not only consumer habits but also the advertising market. In addition, television is dying. These are the findings of the latest “Yearbook Quality of the Media” by the University of Zurich. They are strong, they are dominant, they have money – and they are located outside the Swiss sphere of influence: the internet giants or “tech intermediaries”.

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The World’s Largest ICO Is Imploding After Just 3 Months

Earlier this summer, Tezos smashed existing sales records in the white-hot IPO market after the company’s pitch to build a better blockchain for cryptocurrencies made it one of the buzziest ICOs in the world. As we noted at the time, the company capitalized on that buzz by courting VC firms and other institutional investors with a $50 million token pre-sale. After the company opened up selling to the broader public, demand soared as investors...

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Stories making the Swiss Sunday papers

Scepticism of Sion’s Winter Olympics bid, the cost of travelling around the country and Switzerland’s addiction to sugar – here are some of the leading stories making Swiss newspapers on Sunday. The bid for the 2026 Winter Olympics has seriously underestimated the cost of security for the event, according to some observers.

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Is This The Best Way To Bet On The Fed Losing Control Of The Bond Market?

Authored by Kevin Muir via The Macro Tourist blog, Lately, one of my biggest duds of a call has been for the yield curve to steepen. Sure, I have all sorts of fancy reasons why it should steepen, but reality glares back at me in black and white on my P&L run. Sometimes fighting with the market is an exercise in futility.

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Government against allowing foreign inter-city bus operators

The Swiss cabinet is not in favour of liberalising the Swiss transport market by allowing foreign coach firms to offer inter-city services within Switzerland. In a report released on Thursday, the seven-member body said it is not keen on going beyond the current legal framework, as it deems the quality of existing international transport options in Switzerland as satisfactory.

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Taleb Explains How He Made Millions On Black Monday As Others Crashed

Former trader and author of best-selling book “The Black Swan” sat down for an interview with Bloomberg News to mark the upcoming thirtieth anniversary of the stock-market crash that occurred on Oct. 19, 1987 – otherwise known as Black Monday.

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Credit Suisse targeted for break-up by activist hedge fund

A Swiss hedge fund is poised to launch an activist campaign to break up Credit Suisse, tapping into investor impatience with the progress of the bank’s turnround under chief executive Tidjane Thiam. RBR Capital Advisors, supported by Gaël de Boissard, a former Credit Suisse investment bank co-head, is set to unveil the plan later this week at the JPMorgan Robin Hood investor conference in New York, according to people briefed on it.

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Bern’s SkyWork could be grounded at end of month

SkyWork Airlines, which flies to various European destinations from Bern Airport, may be forced to cease operations by the end of October due to its unstable financial situation. The Federal Office of Civil Aviation (FOCA) has limited SkyWork’s operating permit to the end of this month because the company is unable to meet its financial commitments for its 2017 and 2018 winter schedule.

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Airbnb has ‘impact’ on housing market

Online accommodation platforms such as Airbnb have negative effects on the Swiss housing market and lead to fewer homes available for tenants and higher rental prices, a study has revealed.

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Dollar Surge Continues Ahead Of Jobs Report; Europe Dips As Catalan Fears Return

World stocks eased back from record highs and fell for the first time in eight days, as jitters about Catalonia’s independence push returned while bets on higher U.S. interest rates sent the dollar to its highest since mid August; S&P 500 futures were modestly in the red - as they have been every day this week before levitating to record highs - ahead of hurricane-distorted nonfarm payrolls data (full preview here). U.S. jobs report will also be...

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Swiss blue-chip CEOs dominate European wage ranking

The chief executive officers of Switzerland’s top firms take home almost double the median salaries of Europe’s 100 biggest companies, according to a study by consultants Willis Towers Watson.The Eurotop 100 study, presented on Thursday, studied the direct remuneration – not including pension or bonuses – of the CEOs of the 100 most highly capitalised blue-chip companies in Europe.

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Switzerland Tops World’s Most Competitive Countries Index (Yemen Least)

Something else 'Murica is no longer #1 in... A recently released World Economic Forum report has found that the global economy is recovering well nearly a decade on from the start of the global financial crisis with GDP growth hitting 3.5 percent in 2017. The eurozone in particular is regaining traction with 1.9 percent growth expected this year. As Statista's Niall McCarthy points out, the improvement in Europe's economic fortunes can be seen in...

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Dollar & Stocks Jump; Bonds & Bullion Dump In Lowest Volatility September Ever

It has now been 318 trading days since the S&P 500 suffered a 5% drawdown - the 4th-longest streak since 1928... So everything is awesome...BUT...US 'hard' economic data has not been this weak (and seen the biggest drop) since Feb 2009...Q3 Was a Roller-Coaster...Q3 was the 8th straight quarterly gain in a row for The Dow - the longest streak since Q3 1997.

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Critical Swiss-German rail route back to normal

Commuters using a busy stretch of railway between the Swiss city of Basel and Karlsruhe in Germany will be relieved to learn that services will return to normal on Monday following long-running repairs to a German tunnel.

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Hard Assets In An Age Of Negative Interest Rates

Time is the soul of money, the long-view - its immortality. Hard assets are forever, even when destroyed by the cataclysms of history. It is the outlook that perpetuated the most competent and powerful aristocracies in continental Europe, well up through World War I and, in certain prominent cases, beyond; it is the mindset that has sustained the most fiscally serious democratic republic in the Western world, that of Switzerland.

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