Brought to you by Investec Switzerland. The value of the Swiss National Bank’s U.S. stock portfolio jumped to a record in June, helped by equity market gains. The holdings climbed to $61.8 billion from $54.5 billion at the end of March, according to calculations by Bloomberg based on the central bank’s regulatory filing to the […]
Author of false alert at Geneva airport must pay
Tribune de Genève. According to Pierre Maudet, Geneva’s state councilor in charge of security, the cost of last week’s false alarm should not be borne by taxpayers. Last Wednesday, a French resident falsely warned that someone was carrying a bomb in the French sector at Geneva airport. Her motive was to prevent her husband and […]
Mastering English is not enough to build a career in Switzerland
24 Heures. According to report put together by Zurich head hunting firm Schilling Partners, building a career in Switzerland, requires more than mastering English. The firm, which works with SMEs and large corporates, says linguistic ability is central to choosing managers for companies that span all of Switzerland. The ability to communicate in German and […]
Switzerland has world’s priciest Big Macs. So eat Swiss chocolate instead.
The Economist invented the Big Mac index in 1986 as a tongue-in-cheek guide to currency valuations. Because the well-known burger is the same throughout much of the world, the magazine thought it could be used as a measure of how over or undervalued a currency was. An overpriced burger suggests an overvalued currency and a […]
UBS beats profit estimates as CEO pushes ahead with cost cuts
Brought to you by Investec Switzerland. UBS Group AG beat analysts’ second-quarter profit estimates and said it’s on track to cut costs by 2.1 billion Swiss francs ($2.2 billion) through 2017, with Chief Executive Officer Sergio Ermotti struggling with a slump at the wealth management and securities-trading units. Net income slipped to 1.03 billion francs […]
Swiss stock market rally loses momentum
29 July 2016 – Swiss and global market roundup. Brought to you by Investec Switzerland. The Swiss Market Index and global stock markets failed to extend last week’s rally after the Federal Reserve and Bank of Japan left rates unchanged and gave mixed messages about the global economic outlook. Japanese shares received a short-term boost after […]
Fine for Swiss school absence overturned by judge
20 Minutes. Unauthorised school absence is against the law in the Swiss canton of Vaud, and parents can be fined if their children are absent without prior authorisation from school management. Article 54 of Vaud’s law on compulsory schooling requires all parents resident in the canton to enroll and send their children to a state or […]
Credit Suisse’s turnaround is working, but vulnerable
Brought to you by Investec Switzerland. Just a month ago, Credit Suisse CEO Tidjane Thiam and Deutsche Bank CEO John Cryan risked, as one hedge fund manager put it, becoming the dead men walking of European banking as they struggled to shore up their firms’ profitability. Thursday’s results from Credit Suisse suggest Thiam may escape […]
Swiss post to accept cards from other banks, but there’s a catch
Tages Anzeiger. Anyone new to Switzerland may be surprised to find that the only way to pay in Swiss post offices is with cash, unless you have a Swiss Post card. The Tages Anzeiger reported that the company has started experimenting with debit card payments in two post offices. One in Zollikofen in the canton of […]
New ice rink in Geneva
Tribune de Genève. It might be the middle of summer, but an association representing those who use the baths in Pâquis, recently made a formal request for permission to build a temporary ice rink during Geneva’s winter months. If everything goes to plan, the facility could open this November. According to association coordinator, Philippe Constantin, […]
