Swiss banks: CHF350 billion lost over tax issues

GENEVA, SWITZERLAND – One of the most in-depth looks at Swiss private banking to surface in recent months suggests that Swiss banks had to find CHF100 billion to cover fines linked to tax evasion and fraud. The study by Pricewaterhouse Coopers (pwc) in Switzerland, published 28 August, says they also lost an estimated CHF250 billion […]

Frontaliers living in France: 5 years of growth

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GENEVA, SWITZERLAND – The number of cross-border workers (frontaliers) has grown in the past five years, but somewhat unevenly in French-speaking cantons, show new figures published 28 August by the Federal Statistical Office. The office recently published figures showing that the number of jobs in Geneva rose by 0.8 percent in 2012, the latest year […]

WEF launches web “NetMundial Initiative”

GENEVA, SWITZERLAND – The “NetMundial Initiative” was launched at the World Economic Forum 28 August when the organization hosted a meeting with Icann, political, adademic, civil society and business leaders. The key words used by Geneva-based WEF in a statement about the initiative were global cooperation, capacity development and building trust in the internet. The […]

Pedestrian on A1 killed by police car

Separate road accident leaves youth in critical condition GENEVA, SWITZERLAND – A 22-year-old man was killed when a police car traveling with its lights flashing and sirens on hit him as he crouched in the righthand lane of the A1 autoroute, the Payerne exit, in the early hours of Thursday. Fribourg police have not provided […]

Bern tightens measures for Russian banks

BERN, SWITZERLAND – The Swiss government 27 August announced tighter restrictions for Russian banks operating in the country, “ensure that the most recent sanctions imposed by the European Union cannot be circumvented via Swiss territory. Today the Federal Council decided on the necessary measures. In the field of finance, issues of long term financial instruments […]

Skating star Lambiel opens school in Alps

GENEVA, SWITZERLAND – Swiss skating star Stéphane Lambiel Wednesday inaugurated his artistic skating school in Champéry, in the Vaud Alps. The 30-year-old Lambiel, who holds two World Champion titles and a silver medal from the Torino Olympics, will continue to perform in Art on Ice, while training a dozen students at the new school.

Youths arrested for putting cement on rail tracks

Intercity train tracks, shot while heading from Zurich to Neuchatel Tuesday

GENEVA, SWITZERLAND – Rail traffic was interrupted for a while Sunday and again Tuesday on the Bern-Zurich line following an incident that resulted in the arrests of five youths – but no one was injured, say police. The five were caught Tuesday shortly after they placed concrete slabs on the Intercity train line between Bern […]

Swiss real estate bubble shrinks, prices remain high

Critical districts, real estate, potential for a bubble. Source: Comparis/ETH

GENEVA, SWITZERLAND – The danger of a Swiss real estate bubble is easing, but prices remain high in many areas, notably in Geneva and Zurich. The data comes from the most recent of four surveys of the Swiss real estate market by Comparis and ETH in Zurich. Comparis is a consumer price comparison group; ETH […]

Zurich airport profits up sharply

Zurich airport continues to win awards for service, with its most recent the World Travel Award in early August.

Year-on-year turnover down ZURICH, SWITZERLAND – Zurich airport saw an eight-fold increase in profits for the first half of 2014, compared to a year earlier, the company said 27 August: CHF88.13 million compared to CHF10.1m. The airport’s turnover was down, however, by 3.4 percent to CHF453.58m. Passenger traffic continued to grow, by 0.5 percent, with […]

News roundup: banks’ money, mafia guns, Alpine golf, revenge

GENEVA, SWITZERLAND – Just back from three days of covering a wine fair in Zurich, which you can soon read about on Ellen’s Wine World. Local news roundup for the first part of the week: Swiss private banks reveal numbers Geneva-based bank Pictet 26 August published its financial figures for the first time in 209 […]