Haunted by last year’s rout investors play it safe this October
Investors are reducing risk as the year draws to a close, migrating from equities into debt markets, and shifting from volatile tech stocks into more stable sectors such as utilities, says Alastair McCaig, director of Fern Wealth. October 2018 was a horrible month for stocks and “so far this month hasn’t proven to be any better,” he says.
Sunrise CEO: “I don’t have a plan B”
Sunrise is locked in a feud with its largest investor, Germany’s Freenet, which opposes the takeover of Liberty Global’s UPC business for CHF 6.3 billion. In an extraordinary meeting on Oct. 23, shareholders will vote on a capital increase needed to fund the takeover. For Sunrise CEO Olaf Swantee, this is a once-in-a-lifetime chance. “We will not have another possibility to drive consolidation in the Swiss market,” he says. He does, however, see potential job losses in management, administration, and back-office.
Meat alternatives: a sizzling business
Alternative meat is all the rage at the moment with Barclays recently estimating that the sector could reach USD 140 billion worldwide in the next decade. And now Nestlé has just launched its own plant-based burger in Switzerland. So what does the future of alternative meat start-ups look like now?
Citi’s Fordham: Impeachment could boost Trump’s election prospects
The impeachment inquiry into U.S. President Donald Trump could galvanize his base, improving his chances of reelection, says Tina Fordham, Citigroup’s chief global political analyst: „We are really living in a time of political impossibilities being very much real.’’
U.S. set to top Germany as Switzerland’s main export destination
The U.S. is likely to leapfrog Germany as Switzerland’s biggest export destination over the next two years, according to Swiss Life’s Chief Economist Marc Brütsch. The U.S. accounts for around 13.2 percent of trade exports from Switzerland, but that could increase to up to 17 percent in the coming years as the country reduces its reliance on its neighbor, Brütsch said. Currently around 15 percent of Swiss exports go to Germany.
Seeking solace in the U.S. jobs report
A week of dismal economic data ended on a brighter note Friday as the U.S. jobs report showed that employers added jobs at a steady pace in September. “Today’s job numbers in the U.S. gave some positive feedback that the economy is slowing, yes, but it’s still growing,’’ says Thomas Wille, head of research and strategy at LGT Bank.
SPG CEO: Manor Zurich store closure caught industry by surprise
When department store chain Manor announced the closure of one of its flagship stores on Zurich’s main shopping thoroughfare last month, it caught the retail and property industry by surprise, said Robert Hauri, CEO and co-founder of commercial property advisory SPG Intercity.
Building bridges between banking and sustainability
Leaders from the Swiss banking sector will meet with UN and NGO officials next week at the Building Bridges Summit to discuss how the two sides can work together on sustainable finance projects—from social stock exchanges, investment platforms, and development funds. Fabio Sofia, president of Sustainable Finance Geneva, the organizer of the event, gives his views.
Fighting cybercrime is uphill battle for businesses
Many companies aren’t spending enough to protect themselves and their customers against cybercrimes, says Klaus Julisch, the lead cyber partner of Deloitte Switzerland. Businesses should spend between 4 and 10 percent of their IT budget on preventing unauthorized access to their internet-connected systems.
Giga-speed for everyone in Switzerland
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