1. Swiss people work a lot An average Swiss worker spent 1,568 hours working in 2014, 11% fewer hours than the OECD average of 1,770. Workers in Greece (2,042), Portugal (1,857), Ireland (1,821), Italy (1,734) and the United Kingdom (1,677), all spent more hours at work. How Switzerland leads Europe on youth employment (Le New […]
Archives for October 2015
Huge losses for Swiss National Bank
Brought to you by Investec Switzerland. The Swiss National Bank reported a loss of 33.9 billion francs ($34 billion) for the first nine months of the year, blighted by its foreign-currency holdings. The franc has rallied this year due to the SNB’s decision to remove its currency cap, resulting in exchange-rate related losses of 31.4 […]
Loose talk by central banks and positive earnings fuel markets
30 October 2015 – Weekly Swiss and global market roundup. Brought to you by Investec Switzerland. Swiss financial market news Swiss stocks beat global stocks The SMI outperformed global stocks again this week driven by earnings releases and positive market sentiment for equities after central banks from Europe and Japan indicated further potential stimulus to […]
More plane noise for some: Geneva airport’s new flight paths
From 31 March 2016, flight paths in and out of Geneva airport will change. The changes are part of an effort to harmonise flight routes across Western Europe. The new paths are intended to reduce fuel consumption and emissions, improve safety, and coordination between air traffic controllers across FABEC (Functional Airspace Block) countries, which include […]
Nestlé profits plunge after Maggi noodle scare
Swiss company news brought to you by Investec Switzerland. Nestlé India Ltd. reported a 60% drop in its net profit for the July to September period as its sales fell sharply after a scare over the safety of its Maggi instant noodles. The Indian arm of Nestlé SA said its profit slipped to 1.24 billion […]
Lemanus Lacus or Lac de Genève – take your pick
Much breath is expended on discussions about Lake Geneva’s true French name. Is it Lac Léman or Lac de Genève? Discussions can become quite heated the further you go from Geneva. Many in Lausanne recoil at the idea of the lake’s name deriving from a certain town at the far and thinner end of Switzerland’s […]
From banker to humanist – is this the new face of philanthropy?
Still in his 30s, Yonathan Parienti is a straggle-haired ex-banker in blue jeans. Now his mission is to bring social activists together via the Internet. For under-35s there’s no paradox. As Essential Edge contributing editor Peter Hulm writes, they don’t have their parents’ hangups about the public vs private sector. The Occupy Me generation also […]
The Lausanne Church that was targeted by thieves posing as beggars
Begging gangs in Lausanne are operating with increasing audacity and focusing evermore tightly on exploiting soft targets. “We’re used to having beggars pushing for money at the church door and even coming into the church hall to steal money, hats and coats.” A Swiss member of the congregation told Le News. “This episode, however, was […]
Swiss Re expects big loss from Chinese explosion
Swiss company news brought to you by Investec Switzerland. Swiss Re AG, the world’s second-largest reinsurer, posted a 13 percent increase in third quarter profit after allowing for US$250 million in losses from the chemical warehouse explosions in the Chinese city of Tianjin in mid-August. Net income climbed to US$1.4 billion from US$1.2 billion a […]
Eveline Widmer-Schlumpf quits Swiss ‘cabinet’
Tribune de Genève. Eveline Widmer-Schlumpf announced today that she will not seek reelection as a Federal Councillor in December, stepping down from her position as one of the 7-member executive team at the end of this year. Elected to the Federal Council in 2007, after a coup pushed fellow UDC (SVP) party member Christoph Blocher […]