Brought to you by Investec Switzerland. Basel City will leapfrog Zurich to become Switzerland’s second-most attractive location for businesses by 2020 as Swiss cantons cut corporate tax to bolster their appeal, according to Credit Suisse Group AG. Basel, home of Roche Holding AG and Novartis AG, will move up two places in the ranking of […]
Swiss trains the most expensive in Europe
A study by GoEuro, compares the cost of travelling 100km by train. Switzerland led the ranking with the most costly train trips in Europe. Travelling 100km in Switzerland cost CHF 52. The study is based on the prices of 300 million domestic train journeys across Europe between April 2015 and April 2016. The price differences are significant. […]
UBS handed setback in $2 billion mortgage buy-back lawsuit
Brought to you by Investec Switzerland. A UBS Group AG unit was found by a federal judge to have violated some contracts with mortgage-backed securities trusts that hold loans, putting it at risk of having to buy back more loans or pay damages in a $2 billion lawsuit. U.S. District Judge Kevin Castel Tuesday ruled […]
Syngenta CEO appoints new finance chief ahead of China takeover
Brought to you by Investec Switzerland. Syngenta AG Chief Executive Officer Erik Fyrwald appointed a new head of finance as he works to complete a new strategic plan for the world’s largest agrochemical company, soon to be acquired by state-owned China National Chemical Corp. for $43 billion. Mark Patrick, who has been with the company […]
Cash in a box catches on as Swiss negative rates bite
Brought to you by Investec Switzerland. It’s a sign the world is getting used to negative interest rates when what once seemed bizarre starts looking like the norm. Consider Switzerland, where more and more companies are taking out insurance policies to protect their cash hoards from theft or damage. “Because of the low interest rate […]
Swiss banks cut 4.1% of local jobs in first half as profit falls
Brought to you by Investec Switzerland. Banks in Switzerland reduced their domestic workforce by 4.1 percent in the first half as companies combined and made cost cuts to stem declining profitability, a survey by the nation’s main bank association showed. The loss totals 3,454 jobs, the Swiss Bankers Association said in its annual industry report […]
European and Swiss stocks higher on bank rally
2 September 2016 – Swiss and global market roundup. Brought to you by Investec Switzerland. The Swiss Market Index, along with other European markets, is trading slightly higher this week after financials rallied on merger and acquisition rumors and hopes for improved growth. European banks, the industry group battered the most so far this year, lead gains […]
Market round up – all eyes on Jackson Hole
26 August 2016 – Swiss and global market roundup. Brought to you by Investec Switzerland. The Swiss Market Index along with global stocks are trading flat this week ahead of Federal Reserve’s Janet Yellen’s Friday speech at the central bank’s annual Jackson Hole Summit. The Federal Chairwoman’s speech at the meeting of central bank governors in […]
Negative interest pushes Switzerland’s 2016 budget into positive territory
Switzerland’s budget for 2016 is looking better than expected. Instead of a shortfall of CHF 0.5 billion, the latest figures forecast a surplus of CHF 1.7 billion. Overall income was up CHF 1.2 billion and costs were down CHF 1.0 billion. This CHF 2.2 billion shift took the annual forecast from CHF -0.5 billion to CHF […]
Britain’s Brexit binge on Swiss watches
Brought to you by Investec Switzerland. The pendulum for Britain has swung back to positive, and it’s tourists who’ve pushed it there. Britain was one of the few bright spots for Swiss watch exports in July, rising 13.4 percent from a year earlier and counteracting a massive 26 percent drop in June, according to data […]
