Financial pressure and the failings of decentralisation have prompted an overhaul. Members will have the final say. Migros is rethinking its structure as financial pressures mount. Its ten regional co-operatives face stiff competition, uneven fortunes and questions about their governance. Last year the Zurich co-operative lost CHF 180m. Its troubled expansion into Germany helps explain […]
The three winners of this year’s Swiss cheese awards
Switzerland crowns three cheese champions, celebrating a craft that combines tradition with commercial ambition. The Swiss take cheese seriously. So seriously, in fact, that choosing the country’s finest requires more than 200 judges, over 1,000 contenders and an expert panel to settle the final scores. At the 14th Swiss Cheese Awards in Fribourg, three cheesemakers […]
Vaud’s vote to cut taxes won’t turn it into a tax haven
Voters in Vaud approved a 12% cut in income and wealth taxes on Sunday, with 53.1% backing the initiative. The measure will not turn the canton into a tax haven. Even after the cut, Vaud’s tax burden will remain above the national average. Vaud’s residents will continue to rank among the most heavily taxed in […]
Switzerland takes third place in global competition for vocational skills
Switzerland finished third at WorldSkills, the global competition for young people in vocational trades, which ended in Shanghai on Sunday. It was the best-performing European country. The 42-strong Swiss team won 12 medals: four golds, two silvers and six bronzes and ranked third overall based on the average medal points scored by each national team. […]
Major job cuts planned at Switzerland’s second largest mobile operator
Sunrise, Switzerland’s second-largest telecoms company, is planning another round of job cuts. Up to 450 positions could go, equivalent to almost 16% of its current workforce, reported RTS. The cuts form part of a broader overhaul of the company’s operating model. Sunrise says it wants to focus its organisation more closely on customer retention, network […]
Chinese delivery company to launch in Switzerland
Temu and Shein are sending a growing number of packages to Switzerland. A Chinese logistics firm now wants a share of their delivery business. Helped by heavy advertising and rock-bottom prices Chinese online retailers are squeezing domestic e-commerce firms. Now a Chinese logistics company is following them into the market and may squeeze existing parcel […]
Swiss central bank maintains world’s lowest rate
The Swiss National Bank (SNB) has left its policy rate unchanged at zero, the lowest policy rate in the world. Inflation remains subdued. Consumer prices rose by 0.8% in August, the highest rate in two years but still comfortably within the SNB’s definition of price stability, which covers inflation of between zero and 2%. The […]
Revolut moves to secure a Swiss banking licence
Revolut already has 1.3m customers in Switzerland. Now it wants a Swiss banking licence. Why? A new force may soon emerge in Swiss banking—though it is hardly a newcomer. Revolut, a British fintech firm, already has 1.3m customers in Switzerland. The firm has applied to the Swiss Financial Market Supervisory Authority (Finma) for a banking […]
Support for an immigration levy grows in Bern
Switzerland may one day charge employers an “entry fee” for recruiting workers from the European Union. The idea, long dismissed as anti-business and potentially incompatible with the country’s agreements with Brussels, is gaining support in Parliament. The Federal Council now backs it too. The proposal forms part of Parliament’s debate over Switzerland’s new package of […]
Switzerland’s biggest battery joins the grid — for now
This week, a 58.4MW battery-storage plant has opened in Gurtnellen, in the canton of Uri, reported Axpo. It is the largest of its kind in Switzerland, though probably not for long. What is it? Switzerland’s biggest battery-storage facility has been connected to the grid in Gurtnellen. The project was developed jointly by Axpo and Energie […]
