Recently, the private bank Pictet, based in Geneva, announced plans to eliminate all of its investments in companies actively associated with the production and extraction of fossil fuels, according to a press release. The bank defines companies actively associated with the production and extraction of fossil fuels as those generating more than 25% of their […]
Swiss environmental agency sets no date for 5G launch
Earlier this week, Switzerland’s Federal Office for the Environment (FOEN) announced it had contacted the cantons at the end of January 2020, informing them it had not set a date for switching on 5G networks. However, mobile networks plan to continue installing 5G equipment after rolling out more than 2,000 antenna last year – a […]
Switzerland most expensive country in 2020
It will come as little surprise to many that Switzerland has been ranked the world’s most expensive country. Put together by the magazine CEO World, the ranking pulls cost of living data on accommodation, clothing, taxi fares, utilities, internet, groceries, transport, and dining out, from a number of other studies. Norway ranks second, followed by […]
Philip Morris International to axe jobs in Switzerland
The tobacco company Philip Morris International (PMI) has unveiled plans to cut jobs at its sites in Lausanne and Neuchâtel. A total of around 265 jobs are likely to go. Most of them will be transferred to the UK, Portugal and Poland. The company has opened formal processes in both cantons and those affected will […]
Credit Suisse accused of spying on Greenpeace
According to SonntagsZeitung, the bank Credit Suisse has been spying on Greenpeace. Nearly three years ago, the environmental organisation thwarted security and disrupted the bank’s general assembly with a stunt aimed at shaming Credit Suisse for financing Energy Transfer, a company involved in the construction of the controversial Dakota Access oil pipeline running through reserves […]
Trump should be disinvited to Davos, says St. Gallen University economist
Speaking to CNN Money, Markus Will, a senior economist at St. Gallen University, described Trump’s speech, in which he didn’t mention climate once, as a “contradiction to the values of Davos.” “It was a nationalistic, domestic, state of the union address from Davos rather than an improving of the state of the world speech which […]
Swiss franc one of only two overvalued currencies
Periodically, the Economist magazine judges the value of currencies based on the prices of Big Macs. This time around the burger price comparison found only two currencies to be overvalued relative to the US dollar: the Norwegian krone and the Swiss franc. The franc was almost 20% overvalued according to their analysis – click here […]
Swiss pension reform – closing the gender gap
The Swiss government is currently considering how to reform work-related pensions, known as 2nd pillar pensions. Pension finances are strained by longer life expectancy and low interest rates. Another issue is the low work-related pension savings of low earners and part time workers, groups women are far more likely to fall into than men. In […]
Swiss franc added to US Treasury currency manipulation watchlist
The US Treasury recently added Switzerland to its “monitoring list”. Those on the list are trading partners whose currency practices merit close attention. The list includes: China, Germany, Ireland, Italy, Japan, Korea, Malaysia, Singapore, Switzerland, and Vietnam. It is no secret that the Swiss National Bank (SNB) has been actively trying to weaken the Swiss […]
Swiss National Bank expects annual profit of 49 billion francs
According to provisional calculations, the Swiss National Bank (SNB) expects to make a profit of around CHF 49 billion in 2019. Most of this comes from the rising value of the SNB’s foreign currency positions (+CHF 40 billion) and a valuation gain on gold holdings (+CHF 6.9 billion). After adjusting reserves, the SNB will have […]
