24 June 2016 – Swiss and global market roundup. Brought to you by Investec Switzerland. The Swiss Market Index (SMI) is set to post a modest gain this week despite confirmation that the UK has decided to leave the European Union. The SMI opened almost 7% lower following the announcement before recovering. The Swiss franc strengthened the […]
Britain votes to leave EU. What does it mean?
All of the votes have been counted. 51.9% of the votes were for “leave”. Donald Tusk, President of the European Council, said in an announcement, that EU law will continue to apply to the UK until the nation formally leaves the club, including rules on free movement of people. David Cameron said in a speech […]
Britain votes to leave EU
All of the votes have been counted. 51.9% of the votes were for “leave”. Voter turnout was 72.2%. Voting was divided. Scotland (62.0% remain) and Northern Ireland (55.8% remain) voted too stay, while England (53.4% leave) and Wales (52.5% leave) voted to leave. In the markets, the pound dropped as low as 1.32 US dollars, […]
Traffic jams cost Switzerland 1.6 billion francs a year
The Swiss government has calculated that traffic congestion costs the country CHF 1.6 billion annually. The report, published on 23 June 2016, shows that traffic congestion costs the country CHF 1.6 billion annually (2010) in lost time, wasted fuel, environmental damage and accidents. And these costs continue to rise. The cost of time lost in […]
Heatwave warning in Switzerland
20 Minuten. The weather website MeteoNews warns of a heatwave in Switzerland. After a more or less non-existent summer in Switzerland so far this year, temperatures have shot up. Many parts of the country are experiencing temperatures above 30 degrees today. MeteoNews has issued heatwave warnings for Switzerland’s central plateau, the Basel and Rhone regions, […]
Swiss tax redistribution in 2017 – winners and losers
Swiss cantons have very different tax bases, tax rates and costs. To even things up, and temper tax rate competition between cantons that jockey to attract the wealthiest residents with the lowest tax rates, Switzerland has a system known as la péréquation financière nationale in French, or Finanzausgleich in German, which requires “rich” cantons to give money […]
Swiss solar plane arrives in Spain after 71-hour Atlantic crossing
Both plane and pilot are well. After a 71-hour 8-minute (three days and three nights) flight, the Swiss designed 100% solar powered aircraft and its lone pilot, Bertrand Piccard, touched down at Seville Airport in Spain at 7:38am local time. The total flight distance across the Atlantic from NYC was 6,765 km. Solar Impulse 2 has now […]
Too much pesticide on Swiss strawberries, says report
Laboratory analysis of conventionally grown strawberries picked from strawberry farms in Thurgau and Bern’s Seeland region, along with samples from Switzerland’s supermarkets, shows they contain high levels of pollution. The study, requested by Greenpeace, involved testing samples of fruit and soil. Among the 20 different pesticides found across all of the samples, fungicides were the […]
Swiss franc shows enduring Brexit concern even as odds lengthen
Brought to you by Investec Switzerland. At least one Brexit warning light is still flashing red. While the pound has rallied in recent days and bookmakers have shortened their odds on a win for “Remain” in Thursday’s U.K.’s European Union referendum, the Swiss franc is still about 0.4 percent from the 2016 high it reached […]
Swiss solar plane takes on the Atlantic – video and live updates
Solar Impulse 2 left New York on Monday on its way across the Atlantic Ocean. The 100% solar-powered plane is expected to land at Seville Airport in Spain on Thursday 23 June, a four-day four-night non-stop flight. The Atlantic crossing is one of the most challenging legs the aircraft’s global flight. Swiss adventurer, Bertrand Piccard is […]
