The Vaud-based company announced today that Johan Andsjö has decided to leave Salt as CEO with immediate effect. The Swedish Engineer turned CEO describes himself as someone who starts things up, shuts things down and turns things around. In his profile on Salt’s website he offers a thought: It’s easy to make simple things complicated. […]
SMI underperforms after Draghi disappoints
4 December 2015 – Weekly Swiss and global market roundup. Brought to you by Investec Switzerland. The SMI underperformed the MSCI World this week along with other European markets after a cut in the European Central Bank’s deposit rate and the magnitude of the extension of its quantitative-easing plan announced on Thursday afternoon disappointed investors. While […]
Geneva’s heavy 2016 tax burden
Every year the Swiss federal department of finance calculates the percentage of the tax base each canton will collect in tax in the coming year. Calculations for 2016 put Geneva in the lead with a tax burden of 34.2%, well above the Swiss average of 25.5%. The canton of Schwyz has the lowest percentage of 10.5%, sitting […]
ECB QE boost has opposite effect
Brought to you by Investec Switzerland. The European Central Bank unveiled a range of measures to tackle too-low inflation, from a cut in the floor for interest rates to an expansion of its bond-buying program by at least 360 billion euros ($390 billion). The Frankfurt-based ECB will extend quantitative easing by six months until at […]
Could Swiss banks start charging negative interest?
Brought to you by Investec Switzerland. Could Swiss banks start charging retail depositors negative interest? One already has. More might follow. In mid January 2015 the Swiss National Bank (SNB) started charging negative interest on certain deposits placed with it in an attempt to make holding Swiss francs less attractive. After abruptly abandoned its currency […]
Swiss economy unexpectedly stagnated in 3rd quarter
Brought to you by Investec Switzerland. Swiss economic growth unexpectedly stalled in the third quarter, with momentum held back by weak performance in the energy, construction and financial sector. Output was unchanged in the three months through September, after increasing of 0.2 percent in the prior period, the State Secretariat for Economic Affairs in Bern […]
Median Swiss salary up and well ahead of the US and UK
Switzerland’s median gross salary rose in the two years to 2014. 50% of salary earners earn less than the median while 50% earn more. In addition, the gap between the top 10% of earners and the bottom 10% shrunk. The Swiss median salary climbed to CHF 6,189 per month. This represents CHF 74,268 annually and […]
Swiss post to stop selling sweets
Le Matin. After much criticism Swiss Post will stop selling sweets in post offices. It will continue to sell products such as books and stationary, which are related to its other services. The sale of third party products generates around CHF 500 million for the company annually. After several vocal complaints the issue was taken […]
A volatile week for Swiss stocks
27 November 2015 – Weekly Swiss and global market roundup. Brought to you by Investec Switzerland. The SMI is set to end the week slightly lower on Friday after losing almost all of last week’s 3% gain early in the week before rebounding on Thursday and Friday. Trading was mixed on Stock markets across the […]
Swiss cement giant pledges higher dividend despite missing sales target
Brought to you by Investec Switzerland. The world’s largest cement maker, LafargeHolcim Ltd, which generated CHF 33 billion of revenue in 2014 and employs 115,000 people across 90 countries, pledged to pay shareholders a bigger dividend this year despite sales missing estimates in its first financial report since the world’s top two cement makers combined. The […]
