Repaying public debt “a waste,” create sovereign fund instead, says report    Repaying public debt “a waste,” create sovereign fund instead, says report    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
Where does Europe stand in U.S.-China rivalry?
The Cold War is over, but Europe is once again caught between two superpowers, says Lars Kalbreier, chief investment officer at Vontobel Wealth Management. Europe needs to “grow up” and “emancipate itself” by defining its own international agenda and “perhaps a military policy as well,” he says.
Hannah Wise
Schmolz + Bickenbach CEO warns of lack of visibility ahead
Swiss steelmaker Schmolz + Bickenbach announced a drastic downgrade for the company amid troubled times. CEO Clemens Iller warned of a lack of visibility on orders for the months ahead as the trade conflict continues to weigh on the automotive sector.
Olivia Chang
Citi’s bullish outlook for Swiss stocks
The European economy is recovering thanks to support from the ECB, which has made investments into stocks with high dividend yields even more attractive. Jeffrey Sacks, head of EMEA investment strategy at Citi Private Bank, sees high single digit returns for Switzerland and Europe moving forward.
Olivia Chang
Bitcoin Suisse, Worldline aim to make crypto payments a shopping reality
Bitcoin Suisse is teaming up with European payments provider Worldline Global to roll out cryptocurrency payment services online and in stores across Switzerland. Marc Schluep, CEO of Worldline Switzerland, and Armin Schmid, Bitcoin Suisse’s head of crypto payments, said Switzerland will act as a test case before expanding to other European countries.
Hannah Wise
Former IMF chief economist expects downward revision to 2020 forecast
The International Monetary Fund sees global growth picking up to 3.4 percent in 2020, thanks largely to a better economic performance from developing countries including Brazil, India and Russia. That forecast looks too rosy to Maurice Obstfeld, the IMF's former chief economist who is now a professor at the University of California, Berkeley. He questions the strength of an emerging market bounce-back next year.
Hannah Wise
First Powell, now Lagarde: Central banks say goodbye to superwonks
Christine Lagarde’s first task as the new European Central Bank president may be to prove she has the know-how for the job despite lacking an education in monetary policy. “She may not be a technical economist, but what’s even more important in a central bank decision-maker is judgment,” says Adam Tooze, professor of history at Columbia University and director of the European Institute. “She has shown that she has that judgement.” Whether Europe’s central banks will get in line behind her is the question, he says.
Hannah Wise
Hammond: UK relationship with Switzerland will strengthen post-Brexit
British relations with Switzerland will be more important than ever after its departure from the European Union, the UK’s former Chancellor of the Exchequer Philip Hammond tells CNNMoney Switzerland. Speaking at the SIFF conference in Zurich, he said the UK had learned a thing or two about negotiation from the Swiss in the past.
Hannah Wise
Finding the right equation in clean energy transition
Combining renewables with battery power offers a more viable solution than nuclear in the transition away from fossil fuels, argues Alastair Bishop, portfolio Manager, sustainable energy fund at BlackRock. The cost of new nuclear facilities, he adds, “are not competitive with building renewable energy alternatives.”
Olivia Chang
China stock market on course for stellar year
The China stock market is on track to be one of the best performers this year despite concerns over the trade war and a recent run of weak economic data. Pruksa Iamthongthong, Asian equities investment director at Aberdeen Standard Investments, said this is being driven by renewed investor confidence and a “return to fundamentals” when it comes to valuating stocks.
Olivia Chang
Barry Callebaut CEO: Cocoa premiums “no concern whatsoever”
Cocoa prices have shot up in the months since Ivory Coast and Ghana, the world’s largest growers of the chocolate ingredient, introduced a surcharge on exports to ease poverty among farmers. While Barry Callebaut’s CEO, Antoine de Saint-Affrique, expects prices to continue to rise this year, he says the extra charge will be good for the market in the long run.
Hannah Wise
EU set to adopt rules on responsible investing
New laws would require financial firms to back up claims that they really do factor social and environmental considerations into their investment decisions. Cyril Demaria, head of private markets at Wellershoff & Partners, says these rules will bring much-needed clarity to the booming but largely unregulated sector of responsible investing.
Hannah Wise
SMI investors cash in on spectacular run
SMI investors cashed in on a record run Tuesday, a day after trade optimism propelled stock markets across the globe to giddy heights. Peter Romanzina, head of brokerage at Vontobel Investment Banking, discusses whether there is too much short-term euphoria.
Arasan M J
Eight facts about Novartis
In our new SMI series, we give you the facts about Switzerland’s biggest companies. First up is Novartis, the world’s fourth largest pharma company by revenue.
Olivia Chang
Is there a rally ahead for global markets?
The hope of a trade deal between the U.S. and China are causing global stock markets to rally. But how much higher can markets go? Thomas Wille, head of research and strategy at LGT, points out that we’re entering the best part of the year for equities and there’s still a lot of cash waiting on the sideline. Thus, he says, don’t rule out another possible gain of 3 to 5 percent.

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