Dipping chocolate: 2015 profits likely to fall

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Swiss chocolate sales rose in 2014, but Swiss consumption down, imports up ZURICH, SWITZERLAND – This year will be a difficult one for Swiss chocolate-makers, with a high franc and rising prices for raw materials, notably cocoa. In addition, per capita consumption at home fell from 12 kg to 11.7 kg – and imported chocolate […]

Geneva airport computer breakdowns creating havoc

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GENEVA, SWITZERLAND – Two computer system breakdowns Saturday at Geneva Airport are causing havoc, particularly with baggage. The airport’s web site simply notes that the problems are continuing and are creating heavy delays: passengers are asked to check the arrivals/departures board for updates, or to check with their airlines. RTS reports that the system’s failure […]

Swisscom makes sharp cuts to European roaming fees

Top-end clients: virtually free BERN, SWITZERLAND – Swisscom, in a bid to be Switzerland’s market leader for roaming charges abroad, says it will cut customer’s costs significantly starting 13 April. At the top end, clients with Natel infinity plus accounts will have from 30 to 365 days a year free roaming in Europe, as part […]

Aebischer to step down from EPFL end-2016

Ernesto Bertarelli, Patrick Aebischer, Sylviane Borel, Daniel Borel, at the announcement of EPFL's Center for Neuroprostheses, 2008

University’s head nominated for Nestlé board BERN, SWITZERLAND – Patrick Aebischer, who has headed the federal polytechnic university EPFL for most of its aggressive period of growth, will step down at the end of 2016. The EPFL is today considered one of the top universities in the world by a number of ranking systems. Later […]

Geneva authorities on the hunt at HSBC Geneva

Cantonal attorney general opens investigation for aggravated money laundering Geneva bank raided Wednesday morning GENEVA, SWITZERLAND – HSBC is the target of an investigation by Geneva’s public prosecutor, Olivier Jornot, following public revelations about the bank in the past week, as part of the international “Swiss Leaks” story broken by a consortium of investigative reporters […]

French issue warrants for 3 ex-UBS bankers

ZURICH, SWITZERLAND – French justice authorities have issued arrest warrants for three former senior managers at bank UBS, all of whom are in Switzerland and cannot be extradited. The warrants were issued in January, reports news agency ats, which says the information has been confirmed by sources close to the case. The three were summoned […]

Lausanne Metro extension begins

Lausanne's transport system is feeling the impact of growing regional traffic

LAUSANNE, SWITZERLAND – The over-crowded Metro 2 run between the train station and Flon in Lausanne will get some relief, but not before 2017, when additional trains will be delivered. Phase 3 of the hugely popular underground Metro system in Lausanne is underway, with faster links between the station and Flon as a top priority. […]

News in brief: dance, climate, Chinese bank, meds

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GENEVA, SWITZERLAND – Swiss news stories in brief: Geneva hosting first round of talks for new climate deal This is a week of intense climate talks in Geneva, with the first round of talks since Lima in December 2014, where a 39-page document was established with the main lines that should be included in a […]

High Swiss franc fallout hits insurer

GENEVA, SWITZERLAND – The high Swiss franc isn’t just a business problem for exporters, the head of La Mobilière, a cooperative insurance company, told Le Matin Dimanche in an interview published 8 February. Markus Hongler says, “Our balance sheet is CHF17 billion. In the past we had revenues from our Swiss Confederation bonds, 2-3%, but […]

SwissLeaks, naming names

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GENEVA, SWITZERLAND / EDITOR’S NOTEPAD – The nastiest surprise for Swiss banks in some months is waking up to what has been labeled “SwissLeaks” by a group of 140 journalists working for 55 media around the world. The “Swiss” bank at the centre of the joint investigative journalism project is the Swiss subsidiary of HSBC, […]