Market rally shows global economy growth trumps geopolitics, says energy expert

Market rally shows global economy growth trumps geopolitics, says energy expert – CNNMoney Switzerland

Hopes of a breakthrough in U.S.-China trade talks propelled stock markets higher by the close of European trading on Friday, with investors dumping safer assets like government bonds. Coinciding with a missile attack on an Iranian tanker, the rally shows that concern about the global economy continues to trump geopolitics, says economist and energy expert Cornelia Meyer.

Hannah Wise

Repaying public debt “a waste,” create sovereign fund instead, says report

Paying back public debt in a low interest rate environment is inefficient, says Cédric Tille, economics professor at The Graduate Institute Geneva. In a new research report, he argues that Switzerland could run a deficit and finance a sovereign wealth fund instead. “We have an asset ‘the brand of Switzerland’: Why not use it,” he says.

Hannah Wise

Market rally shows global economy growth trumps geopolitics, says energy expert

Hopes of a breakthrough in U.S.-China trade talks propelled stock markets higher by the close of European trading on Friday, with investors dumping safer assets like government bonds. Coinciding with a missile attack on an Iranian tanker, the rally shows that concern about the global economy continues to trump geopolitics, says economist and energy expert Cornelia Meyer.

Hannah Wise

Is there a fair compensation system for managers?

According to a new report published by the Swiss Institute of Directors, the pharma giant Novartis and industrial group Georg Fischer were cited as the best examples of fair compensation systems among large Swiss companies. Philippe Waty, group head compensation and benefits at Novartis, and Eveline Saupper, president of Georg Fischer’s compensation committee, explain why they have adapted their renumeration systems.

Hannah Wise

Braving China’s social media mavens

The Dolce & Gabbana marketing disaster last year drew attention to one of the biggest challenges of doing business in China, where social media mavens are quick to call out brands for ads deemed offensive. “You have to understand the local market, and you have to be sensitive toward the culture,’’ says Tom Hanan, founder and CEO of Webrepublic, a Zurich-based digital marketing agency that helps Western brands reach consumers on Tencent’s WeChat.

Hannah Wise

Economic growth: quantity vs quality

The new head of the International Monetary Fund, Kristalina Georgieva, says the U.S.-China trade war could cost the global economy around $700 billion by 2020—a loss equivalent to the size of the Swiss economy. Eleanor Taylor Jolidon, co-head of Swiss and global equity at UBP, questions the need for growth at a high level, saying the world should start thinking about the quality of expansion.

Hannah Wise

SNB takes first steps toward digital central bank money

The SNB has long been wary in its approach to digital assets. But now the national bank is teaming up with the Swiss SIX Exchange to explore a digital central bank money that could be used to settle trades of tokenized assets. Martin Liebi, director at PwC, welcomes the move, saying it would further cement the country’s status as a crypto nation.

Hannah Wise

Swiss rank last in WEF report when it comes to tariffs

The World Economic Forum just released its annual global competitiveness index, and Switzerland has dropped down one place to fifth in the report. But the WEF’s Saadia Zahidi says what’s really holding the country back is that its tariff regime is far too complex, placing it last in that category.

Hannah Wise

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.

Hannah Wise

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.

Greta Ruffino

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?

Olivia Chang

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.’’

Olivia Chang

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.

Hannah Wise

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.

Hannah Wise

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.

CNNMoney Switzerland

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