Meet HENRY: the luxury goods consumer of the future Meet HENRY: the luxury goods consumer of the future 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.
Hannah Wise
Von der Leyen’s Brexit message resonates in Switzerland
By distancing itself from EU rules, the UK risks weakening its access to the single market, European Commission President Ursula von der Leyen warned in her keynote address in Davos today. Markus Will, senior economist at the University of St. Gallen, says the statement sent a clear message to Switzerland as well.
Hannah Wise
Six stories that made the day
Your latest highlights from #WEF20 and beyond: key messages from Ursula von der Leyen; Donald Trump comments on trade; the fashion industry’s heavy carbon footprint; the latest on the coronavirus; and a look at Swiss and global markets.
Hannah Wise
The top news of the day
Your latest highlights from #WEF2020 and beyond: A recap of President Trump’s and climate activist Greta Thunberg’s speeches; investors rush to safe havens; UBS and Lonza earnings; central banks on digital currencies.
Hannah Wise
Financing the transition to a low-carbon economy
Banks are increasingly under fire from climate activists for funding fossil fuel projects. David Livingstone, Citigroup’s CEO in the EMEA region, says lenders have an important role to play in financing the transition to a broader base of energy sources.
Olivia Chang
What’s on the menu for the World Economic Forum 2020 in Davos
CNNMoney Switzerland’s Editor-in-Chief Andreas Schaffner tells us what to watch out for at the 50th anniversary of the World Economic Forum’s annual meeting in Davos.
Olivia Chang
Ascom structural shake-up a good start, says analyst
Swiss medtech company Ascom is overhauling its corporate structure and taking other steps to revive its fortunes after revenue slumped last year. Reto Huber, senior research analyst at Research Partners, welcomes the latest turnaround efforts, which he says will help put responsibility back into the hands of the company’s regional managers and restore its focus on customers.
Olivia Chang
Regulators get cozy with bitcoin billionaires
Discussions on how to regulate the crypto industry without stifling innovation dominated this week’s Crypto Finance Conference, where the speakers included U.S. Securities and Exchange Commissioner Hester Peirce. “If you don’t define the regulation for this space, not a lot is going to happen,” said Nicolo Stöhr, CEO of the event in St. Moritz.
Olivia Chang
U.S.-China deal “violates WTO rules,” says Saxo Bank economist
Part of the initial agreement struck between the U.S. and China was “in clear violation” of WTO rules, which state that two parties cannot do an agricultural deal without inviting other parties to the table, claims Steen Jakobsen, chief economist and CIO of Saxo Bank, in what he says is part of an inevitable move toward two separate global platforms.
Olivia Chang
Accenture Switzerland measures the pulse of Switzerland’s top firms
Accenture Switzerland’s new managing director Marco Huwiler discusses his transition into the role and the investment appetite of the country’s leading companies in its latest Top 500 report.
Ana Maria Montero
Nestlé is “playing to win” the sustainability game
Swiss food giant Nestlé announced today that it is investing CHF 2 billion to reduce its use of virgin plastics by one-third in the next five years. Ana Maria Montero was on hand to find out more.
Hannah Wise
Worldwebforum CEO: Strong leadership needed in age of technology
Europe is lagging behind the U.S. and China in creating major global technology-driven companies, says Fabian Hediger, co-founder and CEO of Worldwebforum, taking place this week and at which CNNMoney Switzerland is a media partner. He argues that the right leadership, one of the key themes of the forum, is key in helping companies harness the technological changes in their industry.
Hannah Wise
SNB has less room to maneuver as U.S. steps up scrutiny
The U.S. this week put Switzerland back on its watch list of currency manipulators less than a year after removing it. The move will make it harder for the SNB to intervene in markets to keep the franc in check, says Samy Chaar, chief economist at Lombard Odier. “That obviously creates more pressure for the Swiss National Bank in an environment where they already have pressure.”
Hannah Wise
Switzerland keeps its own time in following EU rules, says PwC Legal head
New EU rules around sustainability, fintech, and data protection are throwing up fresh regulatory challenges for Switzerland as it looks to align itself with standards set by its biggest trading partner. Guenther Dobrauz, partner and leader of PwC Legal Switzerland, says the country will continue to do things its own way and in its own time.
Hannah Wise
Frankenshock: five years and counting
Five years ago, the Swiss National Bank stunned markets when it abruptly abandoned its cap on the franc. Peter Romanzina, head of brokerage at Vontobel Investment Banking, discusses how Swiss exporters have coped with a stronger currency since that tumultuous event.

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