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 […]
The Swiss-made plane that went global and starred in Hollywood films
In 1939, Pilatus, a small aircraft maintenance company for the Swiss Air Force was founded in Stans in the canton of Nidwalden. By 1944 it had produced its first aircraft: the Pilatus SB-2 Pelican. However, it wasn’t until 1959 that Pilatus really took off with the launch of the Pilatus Porter PC-6. The PC-6 was […]
Unemployment in Geneva higher than neighbouring France
In December last year, the Observatoire statistique transfrontalier published unemployment figures for the French region surrounding Geneva. French unemployment calculations broadly follow the method used by the International Labour Organisation (ILO), which includes all available job seekers – ILO definition of unemployment and French definition of unemployment. Official Swiss figures however include only those registered […]
Facebook’s Libra has failed, says Switzerland’s president
Facebook’s plan to launch its digital currency Libra is unlikely to succeed Ueli Maurer, Switzerland’s president, told SRF. Maurer doesn’t think central banks will accept the basket of currencies underpinning the cryptocurrency. “The project, in this form, has thus failed” he said. Plans for the digital currency, which is to be issued and governed by […]
Swiss government makes it easier to get paid for work done on the train
From 1 January 2020, it will be much easier for Switzerland’s 38,000 federal government employees to get paid for working on the train, according to the newspaper Tages-Anzeiger. Until the beginning of this year, working on the train on the way to and from work was only rewarded in exceptional instances and even then it […]
