Tag Archive: Latest news

Murdoch becomes major shareholder in Swiss MCH group

James Murdoch, the son of media tycoon Rupert Murdoch, has been elected to the board of directors of the leading Swiss exhibitions group, MCH.

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Swiss care homes and hospitals charged for mouldy masks

Expired, foul-smelling masks cost nearly a franc apiece for facilities in canton Bern at the start of the coronavirus crisis. As a healthcare worker told Swiss public radio, SRF, on Monday, some of the masks they had received earlier this year had to be recalled because they were covered in mildew.

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Swiss business raided over Fiat-Iveco ‘Dieselgate’ probe

Investigators have searched offices of car giant Fiat Chrysler and truck maker CNH Industrial in Switzerland, Germany and Italy as part of a German-led probe into suspected illegal manipulation of diesel emissions.

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Group challenges law behind Covid-19 tracing app

A committee has launched a referendum against changes made to the Epidemics Act to allow the introduction of the SwissCovid tracing app. The citizens say they’re concerned about data security.

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Swiss banks eye Hong Kong clients for pro-democracy ties

Global wealth managers are examining whether their clients in Hong Kong have ties to the city’s pro-democracy movement, in an attempt to avoid getting caught in the crosshairs of China’s new national security law, according to six people with knowledge of the matter.

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Mandatory masks well accepted on Swiss public transport

Passengers on Swiss trams, buses, and trains have adapted well since a rule requiring face masks was introduced a fortnight ago. However, boat operating companies say they are losing business.

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Embattled Swiss watch industry targets mainland China

The absence of tourists due to Covid-19 will have significant negative repercussions on the Swiss watch industry. In an attempt to make up for this loss of income, manufacturers are focusing their activities more on mainland China as well as easing off the bling.

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Biggest Swiss-based arms manufacturers revealed

Exporting arms is big business for Switzerland, but who are the actual manufacturers and exporters? After a five-year legal dispute, names can finally be published. Swiss companies exported CHF501 million ($530 million) in war materiel in the first half of 2020, the State Secretariat for Economic Affairs (SECO) said on Tuesday, almost twice as much as the same period in 2019.

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Swiss Solidarity raises CHF40 million for most vulnerable affected by Covid-19

The humanitarian charity Swiss Solidarity is helping over 100 groups to provide emergency assistance to the elderly, the homeless and other vulnerable people who have been struggling in Switzerland during the coronavirus pandemic.

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Report alleges targeting of Swiss-based Catalan separatist’s phone

The telephone of Anna Gabriel, a leading figure of the separatist movement in Catalonia who has sought refuge in Geneva, has been reportedly targeted by a “possible case of domestic political espionage”, according to a news investigation.

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Swatch hopes for sales to pick up quickly after pandemic slump

Swatch Group said it expected sales and profits to improve quickly in the months ahead after the coronavirus pandemic caused a “massive decline” in business for the first half of the year.

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Credit Suisse settles U.S. shareholder lawsuit 

Major Swiss bank Credit Suisse has agreed to pay $15.5 million (CHF14.6 million) to settle a dispute with shareholders in the United States, according to court filings on Friday.

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Swiss government extends coronavirus economic support

The Federal Council is extending short-term unemployment benefits by another six months and plans to help cushion financial losses faced by public transport. On Wednesday, the government announced that it is extending the maximum period for receiving partial unemployment support from 12 to 18 months to counteract a rise in unemployment.

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SWISS slowly expands web of destinations from Zurich and Geneva

Swiss International Air Lines (SWISS) has published its flight schedules up to October 24, the end of the summer timetable. As well as resuming service to more network destinations, it plans to intensify its frequencies on routes already restored in both its short-haul and long-haul networks.

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Tally Weijl to close quarter of stores

Swiss fashion chain Tally Weijl will close 200 of its 800 stores internationally and withdraw completely from Bulgaria. In Switzerland, it will close between five and ten of its 81 stores. However, the company says it has secured financing.

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Audit office denies ‘mass phenomenon’ of Covid-19 credit abuse

An interim report on government pay-outs to businesses during the Covid-19 crisis has revealed that there is suspected abuse in less than 1% of cases. Тhe Federal Audit Office investigated some 94,000 coronavirus loans amounting to CHF11.4 billion ($12 billion). It found indications of abuse in about 400 cases, which amounts to about CHF88 million in guarantees.

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Swiss public transport expected to lose CHF1.5 billion due to Covid-19

The collapse in the number of commuters and other passengers on Swiss trains and buses due to the pandemic is likely to leave a big hole in the finances of public transport companies. The Le Matin Dimanche and SonntagsZeitung newspapers reported on Sunday that Alliance SwissPass, the national public transport organisation, expects the number of yearly national train passes to fall by 6% and half-price annual passes to drop by 1% by the end of the...

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100 Swiss watch brands risk extinction due to coronavirus, expert says

The coronavirus crisis could eliminate up to 100 Swiss watch brands from the market, according to an expert interviewed by the German-language weekly NZZamSonntag. Production came to a standstill during the pandemic and the most important export markets collapsed. Whether tourists with purchasing power will return to Switzerland remains in question. The watch industry, notes the newspaper, has been “caught in the perfect storm”.

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Swiss forests are healthy but need better management

Despite threats such as drought and insects, Swiss forests are better equipped to handle natural hazards than they were a decade ago. Not content to mind her own business, Susan studied journalism in Boston so she’d have the perfect excuse to put herself in other people’s shoes and worlds. When not writing, she presents and produces podcasts and videos.

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OECD forecasts drop in Swiss economic growth in 2020

Even though restrictions aimed at slowing the spread of Covid-19 were less strict than in other countries, Switzerland will still see its GDP fall by 7.7%, if the pandemic is contained by summer.

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