What are the scenarios of roboadvisory?
«According to our experience, it will take quite a lot of time before roboadvisory reaches a level of professionalism and competence. We believe that one day there will be a mix: the discretion of those investing in my opinion may be reduced but if customers want tailor-made solutions, the presence of man will always be necessary.
The case: a tenant in Zurich neglected to tell the apartment’s owner that he intended to put the flat on online rental platform Airbnb. In October 2015 the man moved into the apartment for which he would pay a fixed monthly rent of 3,000 francs.
The Zurich Tenancy Court, a specialized court for disputes amongst tenants and landlords – ruled in a decision published last week that a tenant is basically allowed to provide his or her apartment via Airbnb to paying guests, thereby applying four tests: the tenant-host must obtain the general consent of the landlord and thereby disclose the conditions of the sub-rent. The subrental payments cannot be abusive and the landlord may not suffer any substantial disadvantages from the sub-rent.
The Barry Callebaut Group, the world’s leading manufacturer of high-quality chocolate and cocoa products, saw sales volume growth picking up to +3.5% in the second quarter (first quarter -0.4%), leading to a topline growth for the first six months of fiscal year 2016/17 of +1.4% to 946,782 tons. This contrasts with the -2.1% decline of the global chocolate confectionery market during the same period (Nielsen, Aug 2016-Jan 2017).
"Markets are difficult everywhere, particularly in confectionery in the United States," Chief Executive Antoine de Saint-Affrique told reporters on a call on Wednesday, adding he expected to see an improvement in Europe this year and expected the good momentum for the company to continue.
National tax authorities around the world must exchange individuals’ tax information in a standardized way, known as the Common Reporting Standard (CRS). As of January 2017, all financial institutions in Switzerland must begin collecting client data ready to report to the Swiss national tax authority starting from June 2018 onwards.
The automatic exchange of information (AEoI) places a significant organizational burden on financial institutions. On Monday, SIX launched a new CRS/AEoI service, which will help financial institutions manage the huge challenge of reporting clients’ information correctly by providing the right data so banks can easily aggregate it at years’ end and standardize their reporting obligations.
A survey of 2,500 Swiss companies by UBS bank found 65% of chief executives believed there would be further withdrawals from the embattled union, after Britain became the first nation in EU history to rescind its membership.
The poll underlined the importance that Swiss business leaders assign to relations with their biggest export market even as Britain’s vote to leave the bloc undermines some EU cohesion.
The survey released on Monday showed 65 percent of respondents want an institutional framework agreement with the EU, 27 percent favour keeping the existing bilateral accords, and 8 percent back scrapping the bilateral agreements.
Switzerland’s population rose by 90’600 in 2016: at the end of the year, 8,417,700 people were living in Switzerland, up 90,600 from two years ago, the Swiss Federal Statistical Office (FSO) reported Thursday. If this growth rate of 1.1% were extrapolated forward on a compounding basis, Switzerland’s population would double in 64 years.
The increase in 2016 was due to net birth-death related growth of 21,100, and net immigration, which added 75,5002. In 2016 there were 85,700 births and 64,600 deaths. Statistics show that a quarter of Switzerland’s permanent population is foreign. Representing some 2,100,100 people, the number of foreigners living on Swiss soil increased 2.5 percent from 2015. 86,700 foreigners left Switzerland across the year, resulting in a net inflow of 81,600 foreigners.
Finally, the integration of the Swiss business of Banca Svizzera Italiana (BSI) into EFG Bank has been completed. From this moment, the majority of the customer relationships and employees of BSI are transferred, as EFG referred in a media release. The combined business will now be launched on the market under the name EFG.
EFG International said it completed the legal integration of "substantially all" of BSI SA’s Swiss business into EFG Bank AG, a 100 percent subsidiary of EFG International. The remaining BSI entities in Luxembourg and Monaco are expected to be integrated in the course of the second quarter of 2017, EFG said.
According to the State Secretariat for Economic Affairs (SECO) surveys, 152,280 unemployed persons were registered at the Regional Employment Services Centers (RAV) at the end of March 2017, 7,529 less than in the previous month. The unemployment rate thus fell from 3.6% in February 2017 to 3.4% in the reporting month. Compared to the previous month, unemployment fell by 3,044 (-2.0%). Youth unemployment (15 to 24 year olds) in March 2017 decreased by 1,545 persons (-8.1%) to 17,563. Compared to the previous year, this corresponds to a decrease of 1’344 persons (-7.1%).
