Brought to you by Investec Switzerland. Givaudan SA, the world’s largest flavors and fragrance company, reported first-half profit that beat analyst estimates on increased demand for perfumes. Earnings before interest, taxes, depreciation and amortization rose 13 percent to 638 million francs ($649 million), the Vernier, Switzerland-based company said in a statement on Monday. Analysts had […]
Novartis says profit may drop
Brought to you by Investec Switzerland. Novartis AG said profit may fall this year as the Swiss drugmaker increases spending on the heart medicine Entresto and faces declining sales of its best-selling cancer treatment Gleevec. Core operating income will either be about the same as 2015 or decline by a percentage in the low single […]
Swatch profit plunges as demand falls across europe, asia
Brought to you by Investec Switzerland. Swatch Group AG said first-half profit fell by more than half — the most in at least 15 years — as demand for its watches in Hong Kong, France and Switzerland collapsed. Sales fell about 12 percent, the Biel, Switzerland-based maker of Omega and Tissot timepieces said in an […]
Swiss stocks higher on stimulus bet
15 July 2016 – Swiss and global market roundup. Brought to you by Investec Switzerland. The Swiss Market Index (SMI) is set to finish this week higher tracking equity market gains around the world as investors begin to anticipate a new wave of economic stimulus from central banks. Global equity markets rebounded from their post-Brexit losses […]
Cross-border workers can now choose between French and Swiss health insurance
Tribune de Genève. Those who work in Switzerland but live in France will soon be able to choose where they take out health insurance. In 2014, the French government made life difficult for many cross-border workers by removing the option of taking out private health insurance instead of paying into the French state health system. […]
Swiss government rejects union demands for pension increases
20 Minutes. Various Swiss unions along with the socialist and green parties have launched an initiative to increase pensions. Their plan, which demands a 10% increase in pension payments, will be put before Swiss voters in a referendum on 25 September 2016. The cost of the plan could be as high as CHF 4.1 billion. […]
More than 1,300 illegal migrants entered Switzerland in the first week of July
20 Minutes. During the first week of July, Swiss immigration officers witnessed a rise in the number of people illegally entering Switzerland. A record number of more than 1,300 people were stopped at the border in Ticino after illegally entering the country between 4 and 10 July. The majority, 665, were from Eritrea. According to […]
QE and stress tests could cause a state of emergency for some insurers
Brought to you by Investec Switzerland. European insurers, whose profits are being eroded by Mario Draghi’s quantitative-easing program, face a stress-test headache that risks requiring them to set aside more capital, further hurting their ability to make money. The timing of the regulator’s “stress test couldn’t be worse as the results will be rather negative,” […]
Could foreigners be required to do Swiss military service?
Requiring foreign residents to undertake military service is one option explored in a government sponsored report published last week. The current system requires all able young male Swiss citizens to do military service. In 1985 there were around 45,000 eligible men. By 2014 this number had dropped to about 37,000. Estimates for 2035 are between 36,000 […]
10 km traffic jams predicted at Gothard tunnel
The beginning of the summer holidays got off to a slow start for those heading south via the Gotthard tunnel. On Saturday the queue at the northern end of the tunnel stretched seven kilometres according to 20 minutes. Seven kilometres is almost three quarters of the distance from central Zurich to the airport. Most holiday […]
