Out of the tax haven hole: OECD commends Swiss progress

BERN, SWITZERLAND – Switzerland has just received concrete evidence that other countries believe it is making clear progress in sharing information on tax cheats. It has moved up to phase 2 of the peer review process of the OECD’s Global Forum, Jacques de Watteville, head of the State Secretariat for International Financial Matters (SIF), said […]

Swiss business news roundup: watches, banks

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GENEVA, SWITZERLAND – All the world, or at least the digital world, has eyes on Apple and its new watch, but in western Switzerland, the world watchmaking capital, eyes were on Swatch. The company published its 2014 figures 12 March, Thursday, showing gross sales up 4.6% to CHF9.21 billion – with operating profit up 20% […]

Swiss research students hit by US banking woes

GENEVA, SWITZERLAND / EDITOR’S NOTEPAD – RTS public media carries a story that Americans in Switzerland will appreciate, about the banking woes of Swiss researchers with study grants in the US: both are caught in the trap of US-Swiss political and banking relations, often unable to keep Swiss bank accounts. The Swiss National Science Foundation […]

Brady Dougan leaves Credit Suisse

Tidjane Thiam, Credit Suisse CEO as of July 2015

British Prudential financial services boss to head bank ZURICH, SWITZERLAND – Brady Dougan, the American head of Credit Suisse, will be leaving the bank in June after eight years at the helm. His replacement has been named: Tidjane Thiam, currently head of financial services at British firm Prudential, continuing the shift to international financial management […]

El Gizouli named Acting IPCC Chair

RK Pachauri, photo by Marshall Niles

Pachauri resigns as climate head amid sexual harassment charges GENEVA, SWITZERLAND – Rajendra Pachauri has denied any wrongdoing and says his email and mobile phone were hacked, in response to an investigation in India into sexual harassment charges, the BBC reports. The head of the Geneva-based IPCC nevertheless handed in his resignation, effective today, to […]

Switzerland, Italy sign tax deal

Financial advisers not responsible for clients’ crimes BERN, SWITZERLAND – Switzerland and Italy will have a new tax deal protocol that implements OECD standards and states that financial advisers who have not committed crimes themselves are not responsible for the tax crimes of their clients. It also addresses numerous tax issues for cross-border workers. The […]

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 […]