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The best AI stocks may be the ones you’ve never heard ofThe best AI stocks may be the ones you’ve never heard ofThe best AI stocks may be the ones you’ve never heard of
According to global equity fund manager Brice Prunas, Oddo BHF’s new fund uses artificial intelligence to pick stocks with the most to gain from the rise of machine learning. Could that explain why you may not recognize many of them?
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Hannah Wise
Is it money for nothing, then?
According to a report, some cantonal banks in Switzerland are already offering mortgages at negative rates. For Marie Owens Thomsen, global chief economist at Indosuez Wealth Management, this situation is unusual—and it should send out an ominous signal to policy makers.
Hannah Wise
UBP: Brexit crash could lead to stronger Swiss Franc
Boris Johnson has been elected new Conservative Party leader and will become the next UK prime minister. Patrice Gautry, chief economist at UBP, sees a low probability for a hard Brexit but if it does happen, that, along with other geopolitical risks, should lead to a stronger Swiss franc. In his view, the chances that the Swiss National Bank will intervene on the markets are high at the current exchange rate.
Olivia Chang
Swiss start-up Best Smile expanding to Scandinavia in 2020
Swiss start-up Best Smile, which specializes in aligners, is eyeing its first international expansion by early 2020. CFO Philip Magoulas believes there is huge potential in the Swiss aligner market, with room for 40 to 60 locations.
Olivia Chang
Julius Baer’s CEO prepares for handover
Julius Baer has reported its final earnings under Chief Executive Officer Bernhard Hodler. While profit fell in the first half, Hodler says he is leaving the bank in good shape.
Hannah Wise
McKinsey: Financial services industry slow to adapt
In a special debate on the future of work, Jan Mischke, partner at McKinsey Global Institute, focuses on the financial services industry, which is a key industry for Switzerland. In his view, the industry has been slow in digitizing its business models despite infrastructure investments to this end.
Hannah Wise
Future-proofing Switzerland’s workforce
Switzerland may need to open its doors to more immigrants to meet future demand for digital skills, says Jan Mischke, partner at McKinsey Global Institute. He spoke during a debate on the future of work with Katrina Kostic Samen, president of the British Council of Offices.
Olivia Chang
Meet HENRY: the luxury goods consumer of the future
Marketers have coined the term HENRY—which stands for “high earners, not rich yet”—to describe the next generation of luxury consumers. Karine Szegedi, partner at Deloitte Switzerland, told us more about what makes a HENRY.
Olivia Chang
Hong Kong protests bite into Swiss watch exports
Swiss watch exports to Hong Kong fell 26.8% in June, another sign the Hong Kong protests are taking their toll on the luxury sector. Mariana Kou, Head of Hong Kong Consumer Research at CLSA, says she expects July and August to be “quite challenging” for export figures.
Hannah Wise
Ken Fisher: Fed rate-cut timing is politically motivated
Companies are hiring, factory output is rising, and consumers are spending. The U.S. economy looks less and less like its headed for a recession. So then why is the Federal Reserve still likely to cut rates later this month? For political leverage, says billionaire investor Ken Fisher.
Hannah Wise
Why Switzerland is a great place to park capital
Investors are flocking to Swiss stocks and the SMI is on quite a run. Peter Rosenstreich, head of market strategy at Swissquote, sees this as part of a global trend with central banks taking a dovish stance. “The search for yield is on,” he says, “and Switzerland is a great place to park capital.”
Hannah Wise
Kepler Cheuvreux: “Swatch needs to sort out its online strategy”
Head of Swiss equities at Kepler Cheuvreux Jon Cox sees challenges ahead for Swatch Group in the second half of 2019 as competitors are offering more smart watches and a wider variety online. However, in Cox’s view, Swiss watch exports overall could pick up in the next months despite the protests in Hong Kong having an impact on luxury sales.
Hannah Wise
Exclusive: UBS responds to climate protesters
Divesting out of companies with ties to energy-intensive projects is not a panacea to climate change issues, UBS’s corporate responsibility management boss Christian Leitz says. His comments come after climate change activists staged a protest outside of UBS and Credit Suisse’s offices last week calling for the banks to stop financing companies involved in fossil fuel projects. Leitz adds: “It’s not that we can just jump out of certain sources of energy from today to tomorrow. There needs to be a clear transition.”
Hannah Wise
Bitcoin Suisse joins race to win banking license
Crypto finance firm Bitcoin Suisse announced today that it has applied for a banking license. Chairman Niklas Nikolajsen says it would be “very surprising” and a “big blow” if they do not get the green light from FINMA. A license would allow the Zug company to hold deposits and deal with security tokens more effectively.
Olivia Chang
Switzerland: rich and getting richer
Personal wealth in Switzerland will likely grow by 3 percent this year on average, says Anna Zakrzewski, managing director of Boston Consulting Group. That assumes markets don’t take a nosedive as they did at the end of 2018 when a big chunk of the world’s wealth was wiped out in a few weeks.
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