News

20.09.2017

Switzerland: medical delivery drones ready to fly and save lives

Logistics company Matternet has announced a permanent autonomous drone network in Switzerland that will now see lab samples like blood tests and other diagnostics flown between hospital facilities, clinics, and labs. The first delivery network will be operational from next month, with several more to be introduced later in the year. Matternet says medical items can be delivered to hospitals within 30 minutes.

 
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20.09.2017

War games

Tensions have risen sharply on the Korean peninsula this year, as North Korea (NK) has accelerated the pace of rocket launches and has conducted its sixth nuclear test. In response, the United Nations has adopted its strongest sanctions yet, but the fault lines remain.

 
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20.09.2017

Bitcoin is a Bubble, chief of the world's largest hedge fund says

The founder of the world's largest hedge fund he believes that there's a bubble in the bitcoin market. Ray Dalio is the founder of Bridgewater Associates, which according to recent rankings is the biggest hedge fund by total assets under management. Per its website, Bridgewater manages around $160 billion in assets.

 
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20.09.2017

How much Swiss bees help economy?

For the first time, scientists have put a figure on their important work transporting pollen between flowering plants. Experts at the government's agriculture research centre, Agrosope, have calculated that the work of Swiss bees is worth CHF350 million ($365 million) annually.

 
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20.09.2017

Switzerland, Hong Kong open dialogue over Fintech

The State Secretariat for International Financial Matters (SIF) under the Swiss Federal Department of Finance and the Hong Kong Monetary Authority (HKMA) launched on Tuesday in Bern a financial dialogue to promote co-operation on financial market issues of common interest. At the margin of the Dialogue, the Swiss Bankers Association (SBA) and the HKMA facilitated an open seminar for the private sector.

 
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20.09.2017

Deutsche Bank warned where the next financial crisis could happen

Deutsche Bank analysts have warned China could be at the centre of the next financial crisis. Research by the bank’s strategists Jim Reid, Nick Burns, Sukanto Chanda and Craig Nicol found China still needs to reposition its economy "from manufacturing to services and investment to consumption.”

 
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19.09.2017

Norway's sovereign fund reaches $1 trillion

Established to manage Norway's oil revenues, the country's sovereign wealth fund surpassed the $1-trillion (1.8-trillion-euro) mark on Tuesday thanks to the recent appreciation of the world's major currencies against the US dollar and rising stock markets across the world. This amount equals nearly $189,000 (€157,000) for each of the 5.3 million people living in Norway.  Established in the 1990s to manage the Norwegian state's oil revenues, the fund set the record thanks to the appreciation of the world's major currencies against the dollar and a good stock market health. 

 
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19.09.2017

Switzerland : FINMA shuts down fake cryptocurrency providers

FINMA, Switzerland’s Financial Market Supervisory Authority, has shut down a cryptocurrency racket as part of its latest efforts to tackle digital currency fraud. Per its latest edict, FINMA’s victim was a fake cryptocurrency provider. It is at the same time pursuing as many as twelve other cases amidst an uptick of fraud in the country. The action came less than a week after China unveiled its own harsh measures. In addition to a blanket ban on ICOs, China-based cryptocurrency exchanges must stop trading and notify users of their closure by month’s end.

 
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19.09.2017

Equifax's problems grow: prosecutors open investigation over stock sales

Federal authorities have opened a criminal investigation into the massive data breach at Equifax, which potentially exposed the personal information of up to 143 million Americans, including their Social Security and driver’s license numbers. Federal prosecutors are examining the nearly $1.8 million in sales of Equifax stock by Chief Financial Officer John Gamble, Joseph Loughran, president of the credit-reporting giant's U.S. Information Solutions division, and Rodolfo Ploder, president of the firm's Workforce Solutions Unit, Bloomberg News reported, citing unidentified people familiar with the investigation.

 
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19.09.2017

Bankruptcy, the final destination for Toys R Us

Toys “R” Us announced late Monday night that it filed for Chapter 11 bankruptcy, though the company’s leadership assured customers its 1,600 stores around the world would continue to operate normally. The company, once America’s powerhouse of toys, has been struggling for years even as the toy industry grew. Instead, it plans to restructure the $5 billion of long-term debt with which the company is saddled in hopes of keeping it afloat in a marketplace that has vastly changed with increased competition from both big box stores such as Walmart and Target, and online retailers such as Amazon.

 
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