Brought to you by Investec Switzerland. Switzerland should be wary of “well-meaning” international pressure to withdraw its 1,000-franc ($1,007) note, according to the central bank’s former president. Concern has mounted globally that big banknotes make life easier for criminals and should therefore be scrapped. While officials in the euro area have announced plans to phase […]
Nestle buys rights to milk-allergy test from French company
Brought to you by Investec Switzerland. Nestle SA agreed to pay DBV Technologies SA, a French developer of therapeutic skin patches, as much as 100 million euros ($110 million) for the right to sell an experimental test to detect milk allergy, the most common food allergy in children. Nestle will pay the Montrouge-based company 10 […]
Stock markets edge higher as oil price hits US$50 a barrel
27 May 2016 – Swiss and global market roundup. Brought to you by Investec Switzerland. Stock markets around the world are set to close higher this week after investors interpreted a rise in oil prices as a positive sign for the global economy. The Swiss Market Index (SMI) outperformed global markets amid a strong performance from financials and […]
Most Swiss put EU agreements before immigration quotas according to survey
24 Heures. According to a survey conducted by GfS Bern, only 36% of Swiss would support the UDC/SVP’s 2014 initiative against mass immigration if forced to choose between it and maintaining bilateral agreements with the EU, which include an open door policy towards EU nationals. Of the remaining 64%, 47% are against the initiative and 17% […]
Nestlé chief downplays risk of Brexit to the company
Brought to you by Investec Switzerland. Nestlé SA Chief Executive Officer Paul Bulcke said he expects the U.K. will choose to stay within the European Union, though an exit wouldn’t be a huge risk to the world’s largest food company. Brexit probably isn’t among the top 10 risks for Nestlé, Bulcke said Wednesday at a […]
Regulator set to penalise Swiss banks over ties to alleged corruption in Malaysia and Brazil
Brought to you by Investec Switzerland. Switzerland’s top financial regulator warned the risk of money-laundering has risen in Switzerland in recent years as the watchdog said it’s preparing to penalize six Swiss banks over their ties to alleged corruption in Malaysia and Brazil. Widening corruption scandals at 1Malaysia Development Berhad and Brazilian oil producer Petroleo […]
Would you like to take your dog to work? Staff at Nestlé can.
24 Heures. At one Nestlé office, the company is experimenting with allowing employees to bring their canine friends to work. Project boss, Simone Gravante, said “We can see that dogs make office life better.” At the Swiss food giant’s office in La Tour-de-Peilz, near Vevey in Switzerland, staff can come to work with their dogs. Around 15 dog […]
Muslim pupils in Basel must shake teachers’ hands
Tribune de Genève. Teachers in the Swiss canton of Basel-Landschaft will soon have the right to demand school children shake their hands. Under new rules, the parents of children who don’t comply could face fines as high as CHF 5,000. In addition, the dispensation, granted to two muslim pupils at Therwil secondary school earlier in the […]
Government close to removing Swiss nationality for the first time
Le Matin. Bern has started the process of stripping an individual of their Swiss nationality for national security reasons. The move is the first in half a century. The week before last, the Swiss State Secretariat for Migration (SEM) launched a procedure to remove Swiss nationality from a 19 year old man from Winterthur, reported the Tages-Anzeiger last […]
The 1,000 franc note not about to disappear
Le Matin. Earlier this month, the European Central Bank announced that it will stop issuing 500 euro notes. Known colloquially as the ‘Bin Laden’, because it helps criminals move large sums without detection, the 500 euro will not be produced from 2018 when the new Europa series of notes are launched to replace current euro […]
