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.
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.
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.
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.
More than 300,000 Ryanair passengers have had their travel plans thrown into disarray as a result of a rolling programme of flight cancellations that will hit 2 per cent of all of the airline’s flights between now and the end of October. Ryanair chief executive Michael O’Leary blamed a “messed-up” rostering system and a need to give pilots “lots of holidays over the next four months”. He said the roster issues arose due to a change in the way the airline records flight hours. Under EU rules, pilots can only fly 900 hours a year, and 100 hours in any month.
Swiss prosecutors are trying to figure out why someone apparently attempted to flush tens of thousands of euros down the toilet at a Geneva branch of UBS Group AG. The first 500-euro ($597) bills were discovered several months ago in a bathroom close to a bank vault containing hundreds of safe deposit boxes, according to a report in Tribune de Geneve confirmed by the city prosecutor’s office. A few days later, more banknotes turned up in toilets at three nearby restaurants, requiring thousands of francs in plumbing repairs to unclog the pipes.
Wizz Air today introduces its new “Flexible Travel Partner” service, allowing customers to create a new reservation without including all passengers’ names at the time of booking. This innovative new product has been designed for customers who want to book their trip securing low-cost fares well in advance, yet are uncertain who their travel partners will be.
Switzerland could become the latest country to ban facial coverings worn by some Muslim women after activists collected more than the 100,000 signatures required to put the proposal to a national vote. A committee handed in the signatures to the Federal Chancellery in Bern for a people's initiative on the issue. The federal authorities and parliament must now decide upon it, the Swiss News Agency reported.
Emissions from diesel cars rigged to appear eco-friendly may be responsible for 5,000 extra deaths from air pollution per year in Europe alone, according to a new study published on Monday. The numbers are in line with previous assessments of deaths due to the so-called “Dieselgate” scandal, which erupted when carmaker Volkswagen admitted in 2015 to cheating on vehicle emissions tests. The new study, published in the journal Environmental Research Letters, focuses on the perils for Europe.
Cet événement, organisé par Business and Professional Women (BPW) Switzerland, le magazine L'Agef
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