Jue, Jun 22nd 2023
Affairs, lawsuits, and Covid criticism: Alain Berset’s reign as the president of Switzerland has been far from boring. This week he announced his resignation. In his time as Federal President, Berset found himself surrounded by indiscretions, including an ongoing investigation into whether his office leaked information about pandemic measures to Swiss media. Más información.
Swiss voters on Sunday had the chance to decide the fate of three issues facing the nation: a proposed minimum tax rate for international companies in Switzerland, a ban on fossil fuels to meet certain climate objectives and the controversial extension of current Covid-19 emergency laws. Voters approved all three measures. Let’s take a deeper look at what this means for Switzerland. Seguir leyendo.
UBS this month officially took over Credit Suisse which means the mega-bank has also taken on the failed bank’s debts and lawsuits. UBS could face hundreds of millions of dollars in fines over CS’s $5.5 billion failed venture with Archegos. U.S., U.K. and Swiss authorities completed their investigation into the collapsed hedge fund this week. Seguir leyendo.
Despite its diminutive size, Switzerland remains a major contender in the research and development world because it invests heavily in innovation. In 2021 Switzerland spent roughly $2,551 per resident on research and development — almost twice as much as the OECD average. In terms of GDP, Switzerland invests around 3% in R&D, which is why innovators are continuously drawn to the Alpine nation. Seguir leyendo.
The Swiss National Bank revealed this week the three lessons it has learned in the collapse of Credit Suisse and how the financial institution plans to prevent another banking crisis. Should the SNB adopt new measures based on the lessons, it could help another systemically important bank take sufficient corrective action to recover from a near-collapse on its own. Seguir leyendo.
Join us next week for more Swiss news, culture, and issues to watch.
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