Tag Archive: newsletter

UBS global units must be backed by ‘hard capital’: SNB

2026-08-27

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2026-08-27

Swiss banking giant UBS should be required to fully back its units abroad with highest-quality equity capital in Switzerland, a senior central bank official reiterated. At a time when lawmakers are discussing potentially watering down such a requirement, Swiss National Bank (SNB) vice-president Antoine Martin said that the government’s tougher proposal on the matter remains …

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Syngenta boosts operating profit despite lower turnover

2026-08-27

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2026-08-27

Basel-based agribusiness firm Syngenta slightly improved its operating profit in the first half of 2026, despite a slight decline in turnover. In the months from January to June, the Group’s turnover fell by 2% year-on-year to $12.2 billion (CHF9.83 billion). At constant exchange rates, sales would have fallen by as much as 7%, the crop …

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The Arday Tragedy: A Story of Institutional Failure, Not a Witch Hunt

2026-08-27

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2026-08-27

The left is trying to reframe the Jason Arday affair as a witch hunt in which a racist media and a jealous professor hounded him to suicide. However, it was Cambridge University that failed, not those that sought the truth.

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Ludwig Lachmann and the Role of Uncertainty in Economic Affairs

2026-08-26

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2026-08-26

While not as effective an economist as Ludwig von Mises or Murray N. Rothbard, Ludwig Lachmann played an important role in the revitalization of Austrian economics after 1974.

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Restricted postal voting, US-Canada trade war, and thoughts of a Nobel scientist

2026-08-26

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2026-08-26

Welcome to our press review of events in the United States. Every Wednesday we look at how the Swiss media have reported and reacted to three major stories in the US – in politics, finance and science. On the day Dolly Parton was celebrating her 28th birthday – perhaps raising a glass to Jolene, which …

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Competition Is a Discovery Procedure: When Schumpeter Meets Hayek

2026-08-26

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2026-08-26



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The Wealth Tax Revival Is Repeating a Failed Experiment

2026-08-26

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2026-08-26

California is looking to impose a new wealth tax to fleece the state's billionaires. While supporters of the tax claim it will raise more than $100 billion, if passed, it likely will crash in the same manner that wealth taxes in other countries like Sweden and Colombia have done.

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Sabrin: Phase out Social Security 

2026-08-26

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2026-08-26



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Swiss innovation fund faces conflict of interest concerns

2026-08-26

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2026-08-26

Several decision makers at the Swiss Innovation Agency (Innosuisse) have benefited, directly or indirectly, from public funding earmarked for supporting start-ups. According to an investigation by Swiss public broadcaster RTS, this concerns at least 20 projects totalling more than CHF13 million ($16.2 million). M* is a member of the Innovation Council at Innosuisse, the body …

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You’re Paying and Paying

2026-08-26

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2026-08-26



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Swiss Federal Railways profits jump as passenger numbers rise

2026-08-26

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2026-08-26

The Swiss Federal Railways reported a profit of CHF126 million ($157 million) in the first half of the year, up from CHF48 million a year earlier. The increase was driven by higher passenger numbers, its property business and a recovery in freight traffic. However, the company says it still faces significant challenges. An average of …

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Florida police used a fake Flock camera in a sting, then charged a man with three felonies for destroying it

2026-08-26

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2026-08-26

The "perp" was charged with causing $1,000 in damage, but what he actually destroyed was a 3D-printed decoy that was likely far cheaper.

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Consolidation Persists in the FX Market

2026-08-26

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2026-08-26

The US dollar is enjoying a slightly firmer tone against most of the G10 currencies. However, for the most part, ranges tend to be narrow, and the consolidative one seen this week persists. Oil prices have extended their pullback amid reports that Iran and Oman are discussing an “interim framework” to re-open the Strait of …

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Profiting from Government Didn’t Begin with Trump

2026-08-26

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2026-08-26

Trump has made his family billions by courting foreign and corporate money and accepting extravagant gifts while in office. But he didn’t bring self-enrichment to Washington, he simply made it much harder to ignore.

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Profiting from Government Didn’t Begin with Trump

2026-08-26

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2026-08-26

Trump has made his family billions by courting foreign and corporate money and accepting extravagant gifts while in office. But he didn’t bring self-enrichment to Washington, he simply made it much harder to ignore.

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With no heirs, Kühne’s Swiss foundation gets $49 billion fortune

2026-08-26

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2026-08-26

Klaus-Michael Kühne’s death signals the end of a swashbuckling dealmaking era for the German tycoon’s empire while transferring his $49 billion fortune to a low-key Swiss foundation. As part of a longstanding succession plan, Kühne’s portfolio spanning shipping, aviation, chemicals and real estate will ultimately be owned by the Kühne Foundation, making it one of …

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Druckenmiller Has A Warning: Don’t Mess With Markets

2026-08-26

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2026-08-26

Famed investor Stanley Druckenmiller published a Wall Street Journal opinion piece (Let The Bond Market Speak) on Monday, in which he warns Treasury Secretary Bessent about long-dated bond buybacks. His core thesis seems to rest on the paradox between Warsh's strong belief in the information value of free markets and the Treasury's actions to intervene …

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Switzerland braces for winter as gas risks mount

2026-08-26

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2026-08-26

Six months into the US-Iran war, Switzerland has avoided fuel shortages but faces sharply higher energy prices and growing concerns over winter gas supplies amid low EU storage levels. While the closure of the Strait of Hormuz continues to disrupt global energy markets, Swiss fuel imports remain secure. Attention is now shifting from supply availability …

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Productivity On Gilligan’s Island: Episode 2

2026-08-26

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2026-08-26

Over 7 years ago, we wrote a piece using the 1960s TV sitcom Gilligan's Island to provide a simple example of why productivity is the most important driver of economic growth. In this article, we present the next episode of Gilligan’s Island, describing what happens after the benefits of innovation no longer drive economic growth. …

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Three Reasons why the French Revolution Was So Different from the American Revolution

2026-08-26

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2026-08-26

In America, French-style violence was simply unnecessary for the revolutionaries to win, and we will never know if the Americans might have resorted to greater violence in different circumstances.

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