(Bloomberg) — Switzerland has decided not to fully implement the latest package of European Union sanctions against Russia, saying Swiss law already allows measures to prosecute subsidiaries of companies based in the country. “With the 14th sanctions package, the EU has introduced a general obligation for businesses to ensure that their subsidiaries in third countries...
Tag: Top Europe
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UK Resumes Trade Talks With Switzerland in ‘Global Britain’ Push
(Bloomberg) — British and Swiss trade negotiators will resume trade talks on Monday as they seek to broker deeper access to each other’s financial services markets as well as agreements on data sharing and worker visas. The meeting in London — the fifth round of talks between the two nations aimed at enhancing their existing...
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Private Equity Billionaires Seek to Torpedo Swiss-EU Talks
(Bloomberg) — Switzerland’s efforts to forge a new deal to govern relations with the European Union have run into substantial new opposition, in the form of the three billionaire founders of Partners Group Holding AG. Alfred Gantner, Marcel Erni and Urs Wietlisbach, Goldman Sachs Group Inc. alumni who’ve built one of Europe’s most valuable private...
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Melting Alps Glacier Means Switzerland and Italy’s Border Has to Move
(Bloomberg) — Switzerland and Italy tweaked their mountain border under the Matterhorn peak as climate change in the Alps is melting the glaciers that have historically marked the frontier between the two countries. “Significant sections of the border are defined by the watershed or the ridge lines of glaciers, firn or perpetual snow,” the Swiss...
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Swiss Government Sees Sharp Drop in Inflation Rate Next Year
(Bloomberg) — Switzerland’s government slashed its inflation forecasts, a move in line with expectations that the central bank will cut interest rates again when officials meet next week. Consumer prices will grow at an annual 1.2% in 2024 and 0.7% in the following year, the State Secretariat for Economic Affairs said on Thursday. That’s down...
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Switzerland Is Getting Squeezed Between China and the US
(Bloomberg) — Back in 2013, several dozen Swiss business representatives traveled to Beijing to attend the signing of a free-trade agreement between Switzerland and China, toasting the success with champagne. Implemented the following year, the FTA was hailed in a PricewaterhouseCoopers LLP report at the time as a landmark accord that “recasts the international trade...
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Hong Kong Tycoon Adrian Cheng to List His Venture Fund in Switzerland
(Bloomberg) — Hong Kong property tycoon Adrian Cheng is listing his venture fund C Capital on the Swiss Stock Exchange through a merger. The company will merge with Swiss-listed investment firm Youngtimers AG and the entity will be renamed C Capital AG upon approval and completion of the transaction, according to a statement Monday. After...