Stock markets around the world are falling but Didier Sornette is holding his nerve. The ETH Zurich Professor and Director of the Financial Crisis Observatory tells Amanda Kayne that he is happy to see asset prices coming down to a more normal level. He began receiving strong warnings as early as last summer that market acceleration was becoming exuberant. Didier Sornette says he expects further falls and goes on to describe Bitcoin as a “massive bubble”.
Two watch fairs for the price of one
Switzerland’s two leading watch fairs, SIHH and Baselworld, have agreed to sync their calendars through 2024. However, according to Fabienne Lupo, managing director of the Fondation de la Haute Horlogerie, the cooperation is likely to end there. Anything more, she says, just “doesn’t make sense.”
„The West has lost the art of sharing power,“ says Kishore Mahbubani
Academic and former diplomat Kishore Mahbubani is the author of the provocative book “Has the West Lost It?”. The answer, he says, „is no or not yet. But I fear the West is about to lose it.“ Find out what the Asian century and the rise of China mean for Switzerland—and the world.
How Swiss hotels are coping with climate change
The Swiss hotel industry has been forced to grapple with global warming and one way it has dealt with the issue has been to rethink autumn travel. Peter Kämpfer, the new general manager of the five-star Victoria-Jungfrau Grand Hotel & Spa in Interlaken, says that extending the summer season is also key.
If your employer was going bust would you buy them out?
When the Hotel Schweizerhof Lenzerheide ran into financial problems in 1994, Andreas Züllig, an employee there at the time, decided to raise the money to buy and renovate it. As we continue our winter tourism series, he tells us about the decision to become the owner of that venerated establishment.
Switzerland sees an explosion in medical hotels
The Grand Resort Bad Ragaz is planning a health restaurant as part of a five-month renovation of its Grand Hotel Quellenhof. It comes amid a growing appetite for body-focused breaks and lifestyle medicine. General Manager Marco Zanolari also says there’s an explosion in medical hotels.
Badrutt’s Palace: where movie stars and business magnates spend the night
As Swiss hotels gear up for 2019, we take a closer look at some of the big names in the business. Stars like Charlie Chaplin helped make Badrutt’s Palace in St. Moritz an iconic jet set destination with over 500 staff, but Managing Director Richard Leuenberger tells us the selfie count is lower than you might think.
Good business partners key to successful expeditions, says explorer Mike Horn
Every expedition starts with a business plan, reveals explorer Mike Horn, who is completing his Pole2Pole circumnavigation project. He explains how financial support and expertise from partners is essential to his work. Horn also calls on corporations to save the planet – and make a profit in doing so.
UNHCR chief calls for more aid from Switzerland
With the world witnessing the highest levels of displacement on record, UN High Commissioner for Refugees Filippo Grandi is calling for more financial support from global policymakers, including Switzerland. “We are urging the Swiss government to restore the previous levels of funding,” he says.
Banking whistleblower Bradley Birkenfeld’s next move
Six years after receiving a $104 million reward from the U.S. Internal Revenue Service (IRS), Bradley Birkenfeld tells us about his plans to create an organization to support other whistleblowers. In an interview from Paris, CNNMoney Switzerland also asked him about the UBS tax fraud trial in France and a potential new reward from the IRS.
With the World Trade Organization and global free trade facing their “worst crisis” since 1947, SECO’s Marie-Gabrielle Ineichen-Fleisch says Switzerland will defend the multilateral trade body if the U.S. decides to leave: “Leaving is not the right answer.”