Economiesuisse: Negative interest rates create a lot of distortion
Rudolf Minsch, chief economist of Economiesuisse, sees a change of tone when it comes to the ECB’s monetary policy as Mario Draghi hands over the reins to Christine Lagarde. The big question, in his view, continues to be whether the ECB will lower interest rates even more.
Sunrise CEO returns to stand-alone business after UPC bid fails
Sunrise CEO Olaf Swantee is refocusing on the stand-alone business after his bid to buy UPC Switzerland from Liberty Global fell through amid opposition from German media group Freenet, the telecom’s single largest shareholder. Asked about speculation that Liberty Global might buy out Freenet, clearing the way for the deal, he wouldn’t rule out the possibility. “Obviously Liberty is free to continue discussions, debates,” he said. “But we have stopped the negotiation from our end.”
Swisscom CEO confident 5G will soon be reality for all
Health concerns about 5G antennas have slowed the rollout of the wireless networks in Switzerland. But while Swisscom CEO Urs Schaeppi acknowledged the “challenging environment,” he says the company is making progress toward its goal of having 90 percent of the population covered by the end of 2021.
KOF sees light at the end of the tunnelSwitzerland’s economy stabilized in October, according to the KOF’s latest Economic Barometer, which halted its decline thanks to an uptick in the banking, insurance, and food service sector. But KOF director Jan-Egbert Sturm warns that the backdrop for the manufacturing industry is still worrying and dependent on the outlook for the German economy.
Meyer Burger chairman declares “clear victory” in showdown with rebel shareholders
Meyer Burger investors voted two-to-one against expanding the board to include Sentis Capital, the biggest shareholder of the troubled solar equipment maker. Speaking minutes after the decision, Chairman Remo Lütolf said the outcome was a “clear victory” and sends a strong signal to Sentis, the investment arm of Russian billionaire Pyotr Kondrashev.
Lightspeed is powering its European business out of Switzerland
Dax Dasilva, chief executive of Canadian software management company Lightspeed, says its recent acquisition of Swiss-based iKentoo will act as a launchpad into 14 new markets. He claims that his company, which provides retailers and restaurateurs with iPad point-of-sale solutions, is also equipping midsized companies to take on the likes of Google.
How Swiss pension rules discourage employers from hiring older workers
Older workers who lose their jobs have a tougher time finding new positions in Switzerland than those just starting out in their careers. Pension rules are partly to blame because they make it more expensive for companies to employ older people. “What we have now is a system that effectively discriminates against older workers,” says Cédric Tille, economics professor at the Graduate Institute Geneva. With skilled labor in short supply, he says it’s time to reform the system.
Swiss company to bring 15,000 micro-apartments across Europe
Tiny living can vary between 6 to 45 square meters, depending on where you are in the world. In Switzerland, it’s about 30 square meters. City Pop is the latest Swiss company to roll out micro-apartments with a planned investment of CHF 2.3 billion across Europe.