Swiss business news roundup

The cheese which has been hardest hit by the export dip is Emmentaler, the original holey Swiss cheese, which faces a market of cheap imitations.

Swiss franc hits profits, UBS charged by French, cheese dip GENEVA, SWITZERLAND – More bad news for Swiss banks – UBS faces new charges in France of actively helping French tax evaders, with the government demanding a euro 1.1 billion guarantee (bail). The period covered by the investigation is 2004 to 2012. Media reports on […]

First of August fireworks: police urge caution

Fireworks in Lausanne on 9 October

Vaud police say they’ll be tough on offenders LAUSANNE, SWITZERLAND – Police in canton Vaud say that in order to reduce the number of accidents linked to fireworks for the national holiday they will be carrying out controls on shops and offenders can expect them to be tough. The police have also issued a set […]

Lake Geneva weekend & sunshine, plenty to do

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GENEVA, SWITZERLAND – The sun is back for Friday, but expect a mixed bag of weather for the weekend, with thunderstorms and heavy winds at times, mixed with sunshine and rain: worse Saturday and better again Sunday. Temperatures ranging from 14-24C. Paléo, mud, music, happy madness There’s plenty to do in the region this weekend, […]

Cryptic Crossword No 218 by Chalicea

No 217 solution

GENEVA, SWITZERLAND / BOOK MY PLACE – All the across solutions are of a kind and have only word play. [More] …

Algerian plane reportedly found crashed in Mali

GENEVA, SWITZERLAND – The wreckage of an Air Algérie flight, AH5017, with 110 people on board, has reportedly been found over Mali, near Tilemsi. The plane was flying from Ouagadougou, Burkina Faso, to Algiers and was scheduled to land at 05:10 this morning but some hours later was reported missing. Reports since then have been […]

Delta cancels flights to Israel (update)

GENEVA, SWITZERLAND – A number of airlines, including Swiss, have canceled flights to Israel after US airline Delta announced it was doing so for security reasons Tuesday afternoon. 22 July. It confirmed that a flight from JFK in New York to Tel Aviv was diverted to Paris after reports of missile fire close to the […]

Swiss, Chinese central banks sign currency deal

ZURICH – The Swiss National Bank and the People’s Bank of China Monday 21 July signed a currency swap agreement. In addition, the Swiss central bank has been granted a renminbi investment quota of CHF2 billion, the bank says, which will allow it to invest part of its foreign exchange reserves in the Chinese bond […]

Vaud to vote on dental insurance for all

LAUSANNE, SWITZERLAND – Canton Vaud voters will go to the polls to decide if everyone should receive dental coverage. A popular initiative to that effect, organized by the political left, gathered well over the necessary 12,000 signatures. The cost of the reimbursement scheme is estimated to be CHF254-355 million a year, according to RTS media. […]

Swiss banks in the news: names to US, CS loss

GENEVA, SWITZERLAND – Swiss banks are back in the news this week, for several reasons. Credit Suisse announced Tuesday that it is posting a quarterly net loss of CHF700 million, the result of writing off a fine to US authorities. The bank was fined CHF2.5 billion in May and took a CHF1.6 billion write-off as […]

Paléo’s rain plans kick in

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Montreux says rainy weather behind drop in attendance GENEVA, SWITZERLAND – The Paléo music festival opens in Nyon Tuesday evening and, with steady, drumming rain in the run-up and more on the way, the organizers have put their rain plans into effect. Rain was the sour note at the end of the Montreux Jazz Festival […]