Your Daily Scan of the New Global Economy

Switzerland

Intel Switzerland

  • Credit Suisse returns to profit for first time since 2014

    Credit Suisse returned to profit last year for the first time since 2014, the Swiss banking giant said Thursday, crediting the recovery to the completion of a massive restructuring programme.

    Posted:

  • Federal police investigate former PostBus chief

    The Federal Office of Police says an investigation has been started against ex-PostBus boss Daniel Landolf and his former head of finances following a scandal over illegal subsidies. “Criminal administrative proceedings have been opened,” Federal Office of Police spokeswoman Cathy Maret told Keystone-ATS, confirming information published by Le Matin Dimanche and the SonntagsZeitung. “These are the first steps,” the Federal Office of Police added in  information on its website that was updated on Sunday. The men are suspected of fraud pertaining to benefits, as set out under article 14 of Swiss criminal administrative law. “Widening the investigation to other people has not been ruled out,” the statement said of the probe, which was officially launched at the end of 2018. The team of investigators will be going through documents and emails, as well as interviewing people. Searches might also take place, said the information. The two men risk a prison sentence of five years and …

    Posted:

  • Geneva votes to ban religious symbols on public employees

    Geneva residents on Sunday voted for a
    controversial new “secularism law”, which will among other things ban elected
    officials and public employees from wearing visible religious symbols.

    Posted:

  • Level crossings: one accident every three days

    There is on average one accident every three days at level crossings, according to Federal Office of Transport statistics, which have been seen by the SonntagsZeitung. Since 2010, 1,539 incidents have been reported, the equivalent of 170 per year. Collisions have caused almost CHF37 million ($37 million) in damage, 67 people have died, and 347 people have been injured. The more than 4,500 level crossings at railways in the country should have been checked and made safe by 2014. According to the Federal Office of Transport, the number of accident victims has fallen over the last years. “Switzerland now does very well in international comparisons. But of course each accident is an accident too many,” said spokesman Andreas Windlinger in the article. But at the end of 2017, 230 of the crossings still did not reach legal safety standards, the newspaper said. The main cause of the accidents was not faulty infrastructure though, but human error. In more than 90% of cases accidents …

    Posted:

  • Older jobless struggle to find work

    The long-term unemployed have a tough time finding a new job, especially if they’re over 50. An estimated 100,000 people in Switzerland are jobless and no longer qualify for unemployment benefit, so they’re on welfare. According to newly-published figures from the International Labour Organisation, between the 4th quarter of 2017 and the 4th quarter of 2018, the number of long-term unemployed in Switzerland increased by 9,000. The figures are based on those who have been unemployed for one year or more and include people who are not registered at their local Regional Employment Centre (RAV), which provide placement services. The proportion of long-term unemployed among all jobless people increased by 3.4% over the past year.  People who lose their jobs generally receive up to 70% of their former wages in benefits. To receive these, they need to report to the RAV. The unemployment insurance scheme entitles the jobless to between 200 and 520 daily allowances within a two-year period.

    Posted:

  • Prosecutors, Alpine traffic and ski trips

    These are the stories from Switzerland we’ll be looking at during the week of February 17, 2019. Monday As part of our series profiling Swiss working in international roles, we talk to Laurence Boillat, a prosecutor whose work has involved war crimes investigations and helping preserve cultural heritage in armed conflicts. We learn what drives her, and why she’s a homebody at heart despite her travels around the world. Tuesday The story of an elderly woman who ended up in four hospitals for one health issue illustrates the inefficiencies that the Swiss health care system has struggled to address.   Wednesday Twenty-five years ago, Swiss voters greenlighted an initiative to shift traffic passing through the Alps from road to rail. Where does it stand today? Have its goals been met? We take a look.   Thursday Many predicted the end of the traditional Swiss school ski trip following a court decision over whether parents can be forced to pay for it. But schools are …

    Posted:

  • Switzerland and UK complete post-Brexit trade deal

    Britain and Switzerland formalized a deal on Monday to preserve trade relations between the two countries even if
    London opts to leave the European Union without a deal with Brussels.

    Posted:

  • Wabco car systems manufacturer moves HQ to Switzerland

    Car systems manufacturer Wabco Automotive has opted to move its global headquarters from Brussels to the Swiss capital, Bern. The company has plans to set up a competence centre in autonomous driving in collaboration with Swiss universities. “Switzerland is world-renowned for providing a highly favorable environment for breakthrough innovations and offers many distinct advantages for corporate headquarters,” said chairman and CEO Jacques Esculier in a statement on Friday. The company, which had 16,000 employees and sales of $3.8 billion (CHF3.8 billion) at the end of last year, is one of the world’s leading supplier of braking systems and safety applications for commercial vehicles. Last September the New York Stock Exchange-listed Wabco announced it will add autonomous driving systems to its portfolio of products. The company will initially transfer 40 top managers to its new Bern HQ but aims to build up its research into autonomous driving systems in the region. A spokesman …

    Posted: