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Central banks, including SNB, join forces to “ease strain on financial markets”

Ellen Wallace — Wed, 30 Nov 2011 15:13:43 +0000

GenevaLunch.com BERN, SWITZERLAND – The Swiss National Bank (SNB) WEdnesday 30 November joined with other major central banks for a series of “coordinated actions to enhance their capacity to provide liquidity support to the global financial system. The purpose of these actions is to ease strains in financial markets and thereby mitigate the effects of such [...]

Central banks, including SNB, join forces to “ease strain on financial markets” © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

Swiss franc weakens on CPI news, central bankers’ words

Ellen Wallace — Mon, 07 Nov 2011 19:18:02 +0000

GenevaLunch.com ZURICH, SWITZERLAND – The Swiss franc weakened in trading Monday, to $.90 after earlier trading at $.88. It was also weaker against the euro, at 1.24, but with the day’s low at 1.22. Philipp Hildebrand, Swiss National Bank chairman, told Swiss German papers over the weekend that the bank will continue to push the franc [...]

Swiss franc weakens on CPI news, central bankers’ words © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

Novartis to close Nyon site, 1100 jobs to go in Switzerland

Ellen Wallace — Tue, 25 Oct 2011 07:38:33 +0000

GenevaLunch.com NYON, SWITZERLAND – Pharmaceutical company Novartis is closing its site in Nyon as part of a restructuration that will involve eliminating 1,100 jobs in Switzerland. The company is cutting a total of 2,000 jobs, with most of the rest in the US. The Nyon site employs 320 persons and 770 jobs will also go in [...]

Novartis to close Nyon site, 1100 jobs to go in Switzerland © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

Swiss stock market slides less than European neighbours’ mkts. Monday

Ellen Wallace — Mon, 12 Sep 2011 12:29:48 +0000

GenevaLunch.com ZURICH, SWITZERLAND – Worries over the sovereign debt and financial sector woes in the euro zone hit world stocks Friday 9 September, and the slide continued Monday, with European stock markets down by 2.5 to 4.1 percent in the morning. The SMI, Swiss index of star shares, suffered less than most, down 2.3 percent. Asian [...]

Swiss stock market slides less than European neighbours’ mkts. Monday © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

Swiss franc fallout: Coop, Denners cut some brands, yo-yo rates rule

Ellen Wallace — Mon, 15 Aug 2011 17:24:37 +0000

GenevaLunch.com ZURICH, SWITZERLAND – The Swiss franc was traded Monday in ranges of $1.2505-1.2867 and €.8734-.9025, according to Reuters, with the franc weakening early in the day after last week’s climb, thanks largely to the Swiss National Bank’s insistence that it will intervene if the safe haven impact on the franc’s position does not end. But [...]

Swiss franc fallout: Coop, Denners cut some brands, yo-yo rates rule © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

New US ambassador urges calm over debt

Ellen Wallace — Mon, 15 Aug 2011 07:04:25 +0000

GenevaLunch.com GENEVA, SWITZERLAND – The new US ambassador to China, Gary Locke, told reporters at his first press conference in Beijing Sunday 14 August that the US is committed to “getting our fiscal house in order”, in response to Chinese criticism in recent days of what official media have called the American “addiction to borrowing”. China [...]

New US ambassador urges calm over debt © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

Central bankers start to talk about franc-euro peg, franc nosedives

Ellen Wallace — Thu, 11 Aug 2011 14:46:11 +0000

GenevaLunch.com ZURICH, SWITZERLAND – The Swiss franc lost 4 percent Thursday against major currencies, in the wake of remarks by central bankers that it could be pegged to the euro, according to Daily Markets. Reuters at 16:30 Swiss time shows the franc trading at euro 1.0872, compared to 1.03 a day earlier at market closing. It [...]

Central bankers start to talk about franc-euro peg, franc nosedives © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

London riots almost overshadow world markets

Ellen Wallace — Tue, 09 Aug 2011 07:46:25 +0000

GenevaLunch.com GENEVA, SWITZERLAND – The spread of London’s riots to more parts of the city and to other cities is the headline news Tuesday 9 August, not just in the UK but in most English-speaking countries, overtaking news of stock markets diving and the continuing fall of the dollar and the euro in currency markets. London’s [...]

London riots almost overshadow world markets © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

Swiss tourism increased in first 6 months 2011 despite high franc

Ellen Wallace — Fri, 05 Aug 2011 12:53:17 +0000

GenevaLunch.com Chinese most rapidly growing group of visitors ZURICH, SWITZERLAND – The Swiss franc has been soaring, but tourists continue to visit Switzerland, the country’s latest tourism figures show. The first six months of 2011 show a very slight slippage, down 0.2 percent compared to the same period in 2010, with foreign visitors’ overnight stays down [...]

Swiss tourism increased in first 6 months 2011 despite high franc © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

Gold rises to record $1,600/ounce

Ellen Wallace — Tue, 19 Jul 2011 08:48:14 +0000

GenevaLunch.com GENEVA, SWITZERLAND – The price of gold, like the Swiss franc, continues its meteoric rise, reaching the record price of $1,600 an ounce as worries grow about the US debt ceiling negotiations and sovereign debt in several European countries. One-ounce gold US eagle coins are selling like hotcakes in New Orleans, reports USA Today. By [...]