News

10.02.2017

Trump promises phenomenal tax cut program

President Donald Trump pledged Thursday he will soon unveil a “phenomenal” tax cut plan. "Lowering the overall tax burden on American business is big league. That's coming along very well. We're way ahead of schedule," Trump said during a White House meeting with airline industry executives on Thursday. Trump and GOP congressional leaders have come under fire recently from some conservatives for not taking action on popular campaign promises like cutting taxes and repealing Obamacare.

 
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09.02.2017

Geneva art world to launch 10-key points anti money laundering

A group of Geneva-based art dealers, lawyers, and consultants formed a Responsible Art Market Initiative in an effort to alleviate international concerns over the city’s freeports. It is intended to raise awareness of the illicit trafficking of art and antiquities, and the ways in which art facilitates money laundering and other financial crimes. The project was launched at the Artgenève Salon d’art on January 26 with the publication of a set of guidelines designed to crack down on illegal activity in the city.

 
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09.02.2017

Ebay founder launched tests in Kenya giving free money

Omidyar Network, the philanthropic investment arm started by eBay founder Pierre Omidyar, has invested $493,000 into an experiment giving people in Kenya free money. The Omidyar Network is hoping the study will help advance the debate around basic income from broad theoretical terms to more practical considerations. Universal basic income (UBI) is the notion that a government should guarantee every citizen a yearly sum of money, no strings attached. The thinking is that such a program would relieve economic stress as automation technology severely reduces the demand for labor.

 
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09.02.2017

PayPal received subpoenas by DOJ over money laundering program

PayPal revealed on Wednesday that it is being investigated for violations of anti-money laundering regulations and U.S. sanctions. The California-based online payment processor said in a securities filing that it had received a subpoena from the U.S. Department of Justice seeking information related to its “historical anti-money laundering program” as well as new subpoenas related to potential sanctions violations from the U.S. Department of the Treasury.

 
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09.02.2017

German Exports record sharpens US relationship

Germany reported a new record trade surplus in 2016, official data showed Thursday, exporting €253 billion more than it imported. Europe's biggest economy exported goods worth nearly €1.21 trillion ($1.29 trillion) last year, 1.2% more than in 2015, the Federal Statistical Office said. Imports rose to €954.6 billion, a 0.6% increase. Both exports and imports broke previous records set in 2015. The statistical office said that Germany's current account surplus climbed to €266 billion from €252.6 billion.

 
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09.02.2017

The Business Blockchain by William Mougayar - Review

There is one force, today, that can be compared to that of a typhoon in terms of change. It is, according to William Mougayar, as important in shaping the future to come to what the World Wide Web has been in 1995. Mougayar wrote about this technology in his book The Business Blockchain: Promise, Practice, and Application of the Next Internet Technology, with a foreword by Vitalik Buterin, and published by John Wiley & Sons P&T.

 
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09.02.2017

Switzerland: unemployment changed trend in January

Swiss unemployment rose in January to 3.7%, compared with 3.5% in December. This was stated this morning by the State Secretariat for Economic Affairs (SECO), according to which in late January the amount of unemployed people registered at the regional offices of placement was 164'466 , 5'094 more than in the previous month and 822 more than in January 2016 . Among young people (15-24 years) the number of unemployed increased by 566 units (+ 2.9%) to reach a total of 19'782, which still corresponds to 1,398 persons less (-6, 6%) compared to 12 months ago. People who are looking for employment were 226'861, 3'448 more compared with December and 4'110 more with January 2016).

 
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09.02.2017

Zurich Insurance beats forecasts after a turbolent year

Zurich Insurance on Thursday posted a 74% jump in full-year net earnings as its core general insurance business rebounded under new chief executive Mario Greco. The Swiss insurer increased net profit for the year to $3.211 billion, just short of the average estimate of $3.315 billion in a Reuters poll of 11 analysts. Fourth quarter profit climbed to $685 million, after a $424 million loss in the same quarter the previous year.

 
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08.02.2017

EU to create Single Digital Market, easing border restrictions

The European Union agreed Tuesday on new rules allowing subscribers of online services, as Netflix or Amazon Prime, in one E.U. country access to them while traveling in another.  The new “portability” ruling is the first step of regulation under a drive by the European Commission to introduce a single digital market in Europe. Announced in May 2015 on the cusp of the Cannes Film Festival, the proposed Digital Single Market was met with full-throated opposition from Europe’s movie and TV industry, which viewed it as a threat to its territory-by-territory licensing of movies and TV shows. 

 
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08.02.2017

Fake 5 Swiss franc coins on web shop platform

The Swiss 5 francs coin can be purchased on the sales platform Aliexpress, belonging to the Chinese group Alibaba, paying only $ 1.99 (about 2 francs). The retailer specifies on its website that it is fake money. However, it is sent free of customs duties, may also be received in Switzerland, without being subject to border checks. These are coins that are intended for collectors and being their illegal use, anyone did it, would risk to be charged.

 
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