The fusion between two major brands SWIZA SA and SWITZ International SA are created a ambitious collection of Swiss-made watches. The new SWIZA watch offers over 50 models in 5 lines and includes the instantly iconic, SWIZA NOWUS.

This feather-light watch is the quintessential balance between classic and modern design. The round face reflects the heritage of watch design in the canton of Jura, the cushion casing and fluid lines add a fresh style inspired by SWIZA’s DNA in the color palette of the dynamic Switzerland of today.

The SWIZA NOWUS line is the crown prince of the inaugural SWIZA watch assortment featuring over 50 models being unveiled today by SWITZ International SA.

All five models of the SWIZA NOWUS assortment share the perfect balance of design & tradition. This merging of the Jura’s world renowned values: craftsmanship, precision and reliability with the fresh style and colors of today’s Switzerland results in a strong and well-balanced design.

The aesthetically pleasing and ergonomically engineered casing echoes the carefree style of Switzerland’s genuine flair for innovation.

The crown is a tribute to our Swissness and the thoughtfully designed scratch-resistant rounded sapphire glass provides superior protection.

The gentle curved shape of the crystal is a benchmark of SWIZA brand design language common to SWIZA watches and products in other categories.

The SWIZA NOWUS watch: the Swiss watch to accompany you on your everyday adventures. Because every day can be an adventure.

FLIR FX security camera. – If you have a Security Camera, How much time do you invest reviewing all recorded video?. Now it’s no longer necessary to spend that kind of time, because the people of FLIX has launched the new FLIR FX. It’s a wireless HD camera that allows you to recap a day in a few seconds and keep an eye on the things that you really care about.

With an Android or iOS apps, such as RapidRecap you can review events from hours of cloud recorded video simultaneously, and with SmartZone Alerts it’s possible to make recordings and have alerts happen in the specified area with motion sensing technology. Also, watch footage live anytime, anywhere on your mobile device. This app also lets you create push notifications for specific events, monitor temperature and humidity, and communicate via audio.

The Flir FX is a modular camera with 1080p resolution and a 160-degree viewing angle. Like other casual home monitoring cameras, it’s equipped with 802.11 b/g/n home Wi-Fi to stream video up into the cloud, a speaker and microphone for two-way conversations, and infrared LEDs that help it see about 30 feet in the dark. There’s also a microSD card slot and an included 8GB memory card to store video when you’re using it to capture footage on the go is available in indoor and outdoor versions (with housing) for $199 and $249 respectively and Flir Cloud services are available through three subscription plans: Flir FX includes complimentary access to Free Cloud Basic, which provides video storage dating back 48 hours along with three RapidRecaps per month. For more cloud storage days and an unlimited number of RapidRecaps, there is Flir Cloud Plus (seven days of storage) for $9.99 per month or $99.95 per year, and Flir Cloud Premium (30 days of storage) for $19.99 per month or $199.95 per year.

Modular Robotic Vehicle (MRV) – Nasa goes inside the automotive world. NASA actually has been working on something autonomous and has posted a video of its electric robotic prototype wonder on YouTube. Created by NASA at the Johnson Space Center.

NASA’s Modular Robotic Vehicle, or MRV, is a golf-cart-sized two-seater “designed to meet the growing challenges and demands of urban transportation,” says NASA Mechanical Engineer Mason Markee. “The MRV would be ideal for daily transportation in an urban environment with a designed top speed of 70 km/hr and range of 100 km of city driving on a single charge of the battery. The size and maneuverability of MRV gives it an advantage in navigating and parking in tight quarters.”

MRV is a battery-powered electric vehicle that looks more like a site-to-site transportation cart or transporter at an airport. Had a two-seat and its built off of the same technology NASA uses for space exploration rovers and control systems. It’s all part of an initiative by NASA’s Johnson Space Center to adapt space exploration technologies for use in autos down here on Earth. The MRV will in turn help develop future systems for space exploration. “Actuators, motor controllers, sensors, batteries, BMS, component cooling, sealing, and software are all examples of technologies that are being developed and tested in MRV that will be used in next generation rover systems,” said Mason Markee, a mechanical engineer at NASA’s Johnson Space Flight Center.

The MRV is all-electric, has a top speed of 70 kph (about 43 mph) and a range of 100 km (about 62 miles) on a single charge. While it won’t be tearing up the roadways any time soon the vehicle does have some unique driving capabilities enabled by its four independently actuated wheel modules (NASA calls them “e-corners”). Each e-corner can be controlled independently and rotated ±180 degrees about its axis. This allows for a suite of driving modes allowing MRV to maneuver unlike any traditional vehicle on the road.

In addition to conventional front two wheel steering, the back wheels can also articulate allowing for turning radiuses as tight as zero. The driving mode can be switched so that all four wheels point and move in the same direction achieving an omni-directional, crab- like motion. This makes a maneuver such as parallel parking as easy as driving next to an available spot, stopping, and then operating sideways to slip directly in between two cars.

Among other features, MRV has a passive trailing arm suspension, an in-wheel propulsion motor, and a motor-driven friction braking system. While advanced modes uses a joystick controller, the MRV features a steering wheel designed to mimic the feel of driving with a standard auto.

There’s no word on what the development costs were. But if NASA can figure out how to make the MRV affordable for Earthlings, it’s not difficult to imagine civilian uptake. And the MRV is something that we do not typically think of NASA creations being: Fun. It’s like driving on ice but having complete control,” says Justin Ridley, an International Space Station Flight Controller. “It’s a blast to ride in and even more fun to drive. We’ve talked about it being like an amusement park ride.

Stephanie Mlot in PCMag said, ideally, NASA wants it to traverse the extreme terrain of other planets. Motor Authority noted its liquid-cooled motors, steering wheel, and seats operating in space as an autonomous robot car.

So is the MRV designed for space or closer to earth? The answer is yes and yes. The NASA publication last year called “Game On” discussed the aims of the team that worked on the MRV. “The Modular Robotic Vehicle, or MRV, was developed at NASA’s Johnson Space Center in order to advance technologies that have applications for future vehicles both in space and on Earth,” said the publication. “This work allowed us to develop some technologies we felt were needed for our future rovers,” said Justin Ridley, Johnson Space Flight Center. “These include redundant bywire systems, liquid cooling, motor technology, advanced vehicle control algorithms. We were able to learn a lot about these and other technologies by building this vehicle.”

THE NEW PROCESSOR ULTRA PLATFORM FOR 4K ENTERTAINMENT ARMADA 1500 IDEAL SOC PLATFORM SOLUTION FOR ANDROID SET TOP BOXE.

The New Processor Ultra Platform for 4K Entertainment comprehensive multi-media SoC solution that Marvell presents, enables global set-top box manufacturers and PayTV operators to accelerate mass deployment of cost-effective Ultra HD devices.

Marvell, the worldwide leader in providing complete silicon solutions from mobile communications to storage, Internet of Things (IoT), cloud infrastructure, digital entertainment, in-home content delivery and Kinoma® software enabling the “Smart Life and Smart Lifestyle”, it’s now introducing the ARMADA® 1500 Ultra (88DE3218) system-on-chip (SoC) to its award-winning ARMADA 1500 family.

The Processor Ultra Platform for 4K Entertainment ARMADA 1500 Ultra’s Quad Core 14K DMIPS ARM A53 CPU, 8-core GPU, offers a complete platform solution for operators, providing support for video SoCs, Wi-Fi and Internet of Things services.

Carrier-grade security and state-of-the-art power management techniques, are designed to enable PayTV operators and set-top box (STB) manufacturers to cost-effectively deliver small form factor devices with feature-rich 4K entertainment and gaming services to their subscribers.

The main key features include:
• Highest Resolution Video that operators will be uses the centerpiece of services that consumers will demand with mass installment of 4K TVs over the next few years.
• Enables operator to deploy rich media/web based TV applications and Android TV services for enhanced viewing experience with lower power profiles.
• Powerful GPU needed for Android gaming apps that Service Providers will be rolling.
• Robust Security Engine to support evolving strict guidelines for Premium Content Broadcast include Trustzone integration and support for 4K Video Watermarking.

With its 64-bit ARM CPU. The SoC also features a sophisticated security processor supporting leading conditional access systems (CAS) solutions from Verimatrix to meet the strict standards of service operators and content partners, building on Marvell’s legacy of supporting the first Android STB with CAS.

Making, Marvell the first silicon provider to bring the 64-bit ARM architecture both to the mobile and the PayTV segments, thereby enabling the unification of the application developer ecosystem.

The proposal from Ivan Glasenberg that has electrified the mining industry began as a friendly telephone call, South African to South African. What, asked Glencore’s chief executive, would Jan du Plessis, Rio Tinto’s chairman, say to a merger between the two companies?

Glencore-Rio Tinto union still a prospect- For months the sector has been awash with gossip about what might be Glencore’s next move, a year after it swallowed Xstrata in mining’s biggest ever deal. Now we know: Mr Glasenberg is eyeing the creation of “GlenTinto”, a $160 billion (CHF153.5 billion) resources giant that would rival BHP Billiton as the must-own stock in mining and commodities trading.

Glencore’s informal approach – manifested in Mr Glasenberg’s July phone call – was treated very seriously by Mr du Plessis, who put the merger proposal to Rio’s board. It was unanimously rejected, and Glencore was informed in August, Rio disclosed late on Monday.

Glencore said on Tuesday it was no longer actively considering a Rio merger, and under UK Takeover Panel rules, the Swiss company is, in effect, barred from making another approach to the UK group for six months.

Yet no one in the industry thinks Mr Glasenberg will give up on the idea of a merger between Glencore and Rio – July’s phone call could just be an opening skirmish. “This is likely just a shot across the bow . . . we expect Glencore to play the long game with any highly desired acquisition target,” says Tim Huff, analyst at RBC Capital Markets.

At a time of fading returns and waning investor interest in the mining sector, virtually all of Glencore’s large rivals are trying to shed assets and prepare for leaner times – an approach exemplified by BHP’s unbundling of assets acquired at the start of the natural resources boom.

Capping career
Only Mr Glasenberg seems able to row against the tide in considering ambitious deals. A merger between Glencore and Rio would cap a remarkable career since he began in the industry about 30 years ago on the coal desk of Marc Rich & Co, a trading house.

There are more prosaic reasons for Mr Glasenberg’s interest – namely iron ore, the vital ingredient in making steel. Rio is widely acknowledged to have the best iron ore assets in the business; by contrast, Glencore has a small presence.

Given Rio’s 20% share of the seaborne iron ore market, and lucrative trading opportunities, “it is not surprising that Glencore wants to expand into this commodity”, says Jim Milligan, global resource strategist at Olivetree Securities.

Furthermore, as Glencore has proved with its acquisition of Xstrata, it can generate value by putting mine production through its marketing business. “The thought of Glencore’s marketing team applying their skill set to the Rio asset base is exciting,” says David Butler, analyst at Barclays, who also sees tax and debt synergies from a deal.

For Rio investors, iron ore has provided up to 90% of group earnings, but its price is at a five-year low. A merger with Glencore would offer a way to diversify: it is estimated that iron ore would be only 34% of the combined group’s earnings.

Succession planning
Then there is the question of succession planning at Rio. The contract of Sam Walsh, chief executive, is due to expire at the end of 2015, with no replacement identified.

However, there are many reasons for Rio shareholders to question the benefits of a merger with Glencore.

“Rio Tinto generally has top tier assets in safe jurisdictions. Glencore has a more racy portfolio,” says Matthew Hasson of Numis Securities.

Neither would the different company cultures be easy to reconcile. Rio prides itself on its exploration skills – and is full of “geeky engineers”, according to one company insider – whereas Glencore’s trading heritage has fostered a freewheeling esprit de corps, with little appetite for embarking on big mine-building projects. “I would imagine the culture clash between Glencore and Rio to be immense and a major threat to the success of a deal,” says Peter Mallin-Jones, analyst at Canaccord Genuity.

A merger would require not only the blessing of Chinalco – the Chinese aluminium producer that is Rio’s largest shareholder – but also Beijing, which is increasingly taking national interest and industrial policy into account when considering deals.

Rio believes its best course is to maintain what it has tried since Mr Walsh succeeded Tom Albanese last year after the miner’s misjudged investments: spend less shareholders’ money, do so wisely, and give back as much as it can.
More than ever – and even amid the weak iron ore price – the onus is on Rio to deliver an extra return of capital when it reports full-year results in February. Anything else would encourage thoughts about whether a combined GlenTinto could do any better.

“If Rio management does not deliver material capital returns to shareholders, as promised, or if the iron ore price sharply falls next year, Rio could become much more vulnerable to a bid from Glencore, especially if the bid includes a premium,” says Chris LaFemina, analyst at Jefferies. “Rio shareholders are patient, but management mistakes and/or iron ore price weakness can make them impatient.”

(c) 2014 The Financial Times Limited

By James Wilson and Neil Hume, Financial Times

Source: Swissinfo.ch

Streaming video market leader Netflix has arrived in Switzerland, raising larger questions about building out bandwidth and keeping the internet a neutral playing field.

Ideally, a Netflix video in HD quality requires five Megabits per second (Mbps) of bandwidth, compared to less than one Mbps for sending an e-mail or two for browsing Facebook. A recent estimate found that 35% of all bandwidth consumed in American households during peak times – between 7 and 11 p.m. – is used by Netflix alone.

That’s made customers demand ever-faster Internet connection speeds, and Internet Service Providers (ISPs) have had to build out and improve their networks as a result. In the United States, Netflix has reached agreements with several of the country’s major ISPs to pay them for better access to the bandwidth required to stream its content optimally. Ziggo, a Dutch ISP, recently announced it would seek a similar deal. Advocates of so-called “net neutrality” – a free and open internet for all players – have cried foul, including Netflix CEO Reed Hastings.

“Without strong net neutrality, big ISPs can demand potentially escalating fees for the interconnection required to deliver high quality service,” he wrote in a recent blog post. “The big ISPs can make these demands – driving up costs and prices for everyone else – because of their market position.”

Last week, Netflix and several other websites, including Tumblr and Reddit, purposely slowed down their connection speeds to protest the actions of ISPs who charge them for increased broadband access.

So far, the United States’ Federal Communications Commission (FCC) hasn’t ruled on net neutrality or the practice of ISPs charging companies for access to bandwidth. In Switzerland, no ruling or law has been issued on that, either – although people like telecommunications lawyer and professor Simon Schlauri believe one is needed, based on his research into the issue.

“In my opinion, the signal is clearly that net neutrality will be regulated in some way in the European Union, the question is just how,” he says. “We’re quite a bit behind in Switzerland in that area. The internet service providers are still hoping that the whole thing will go away.”

Swisscom is Switzerland’s largest telecommunications provider and is majority-owned by the Swiss government. Carsten Roetz, spokesperson for Swisscom, tells swissinfo.ch that his company doesn’t believe net neutrality laws are necessary.

“We are against the law because we think there is no need for it, as there’s no discrimination towards internet companies in Switzerland,” he says. “We would treat all operators and service providers equally and don’t block any services – not on the fixed network, and not on the mobile network.”

And, he adds, Swisscom is ready to meet the “challenges” posed by streaming.

“This year we’re investing CHF1.75 billion ($1.86 billion) in our networks to offer more speed and more capacity – fiber networks and ultra-broadband networks,” he says. “It’s a significant investment we have to do because of customer demand. People are asking for higher bandwidth.”

Legal loopholes

Besides the question of necessity, other arguments against a net neutrality law involve the fact that it would undermine free market competition. Plus, some point to the fact that Switzerland has a cartel law – a revision of which failed to pass the House of Representatives earlier this week – which would take care of any issues.

However, Schlauri doesn’t think that’s adequate.

“In the case of some companies, perhaps like Netflix, their market power might be large enough that competition will prevent net neutrality violations. In other words, I could see a case where they’re strong enough against the service providers that the cartel law doesn’t apply or can’t be used.”

And, in cases of small content or application providers, he says, “the cartel law might be applicable, but procedures are cumbersome” and smaller businesses often can’t afford the long, drawn-out legal fight that would be required.

He points to the fact that some telecom providers currently offer their customers free data for services like WhatsApp online messaging as a sort of marketing measure. However, that leaves other, smaller providers of similar services at a disadvantage because customers have to pay for data to access them.

Netflix not worried

At the moment, perhaps because of his company’s size and pull, Hastings told the Swiss media he isn’t worried about any “dirty tricks” by Swiss telecoms, as one journalist put it, that might infringe on net neutrality.

“Such measures are used pretty rarely. In the US there was this issue with [ISP Comcast], but that had more to do with the fact that Netflix has been generating a third of the internet data usage. It will take several years before we’re at that point in Switzerland.”

In the wake of similar streaming video offerings announced by ISPs UPC Cablecom and Swisscom this week, Hastings also discussed his faith in competition and fair play in Switzerland in an interview aired on Swiss public television SRF.

Looking into legislation

That’s not to say the Swiss government has been completely inactive on the net neutrality question. At a governmental level, a roundtable working group has been established consisting of, among others, representatives from the telecom industry, net neutrality advocates, internet companies and experts. Schlauri is also part of the group, which plans to release a report detailing each party’s position on net neutrality by the end of the year. And, a parliamentarian has submitted a motion calling on cabinet to look into the issue, which has passed the House of Representatives but not yet the Senate.

Cabinet is also expected to weigh in on the issue in its upcoming telecommunications report, but Schlauri hopes they will wait to write it until the working group has submitted its findings. He finds it “difficult” that in Switzerland, the majority-government-owned Swisscom has a direct line to parliament and cabinet and could considerably influence their decisions.

“Cabinet hasn’t expressly spoken out against net neutrality but you can sense a certain hesitation, despite the fact that there are laws about it on an EU level and the EU is seriously discussing tightening the law.”

“There is a feeling in Switzerland that we probably won’t need anything similar.”

Netflix in Switzerland

Netflix’s offering in Switzerland launched on September 18. The most basic subscription costs CHF11.90 per month and offerings are available in French and German, but not Italian.

The Swiss Netflix offerings combine those from the French and German markets, with most available in the original language with optional dubbing or subtitles. Currently, some 170 television shows are available, in addition to many movies.

Internet service providers UPC Cablecom and Swisscom have both announced plans to launch similar video streaming offerings.

By Veronica DeVore
Source: Swissinfo.ch

Swiss Made is a registered trademark that denotes products that are made in Switzerland. It is such a value for the manufacturer and the consumer that its designation is regulated, protected and controlled by Swiss law.

The Swiss Made designation has earned a reputation as a warranty of good sustainable products that is built with great precision through centuries of manufacturing quality products in Switzerland. It gives consumers a sort of guarantee about the quality of the goods they are purchasing and manufacturers can further profit in greater sales gained by the high consumer confidence from such a prestigious reputation.

The Swiss Made designation is an asset for Swiss companies to leverage in a competitive marketplace. In today’s global economy, a manufacturer must compete with goods made across the world. In order not only to survive but to be chosen by the customer as the best, the Swiss manufacturer must be competitive in the national and international market as well. This is why it is very important that Swiss Made goods deservingly earned a stellar reputation that is widely recognized and respected worldwide.

Today, Switzerland is regarded as having one of the world’s most powerful and stable economy. This is due to its strong manufacturing base as well unprecedented and continuous high quality that can be dated for hundreds of years. The solid and traditional quality of Swiss Made also contains latest know-how, industrial and scientific. In this way, the Swiss Made goods attract and reach a broad range of interested customers, even those who are ready to pay the ultimate price for such a remarkable product. It’s a win-win business for the Swiss Made goods producers and their customers.

Under the Swiss Made label, Swiss manufacturers have earned a worldwide fame for quality goods with durable reputation. These companies are recognized and accepted in many well-known areas of international industry. In addition to this, they can also surprise us in their visionary way by thinking in creating their own successful business in the market niches or supply professionals with unique products.

One of such company is Duvoisin Guitars SA. It is a Swiss manufacturer located in Neuchatel, Switzerland.  This company may not be known to many but for connoisseurs of electric guitars and basses this brand has world-class prestige. Like the traditional Swiss watchmakers, Duvoisin produces their musical instruments with great precision. They created internal six steps technology’s guide-line in order to achieve the highest quality product. It begins with the wood selection, its cutting and careful aging in the company workshops. Further it continues through the various stages including sound transmission, the geometry of the neck and precision in the positioning of the frets. Finally it finishes with the truss rod and touch markers.  To achieve this outstanding quality, in addition to the internal six steps rule, the company employs high qualified professionals, makes the guitars from exquisite woods as well uses special machine locally developed.  And it is not a surprise that they are testing the suitability of various Swiss’ woods for making instruments. Also since 2007 the company has been manufacturing basses from the Swiss wood. Duvoisin’s electric guitars and basses are produced in full compliance with the principles of Swiss Made goods.

Another example of Swiss Made are products of FELCO, a company which was created in 1945 by Mr. Félix Flisch a legendary, self-taught visionary. To start production of his first pruning shears he bought an old watchmaking factory. If it was just a coincidence, or destiny indicating that his products are so finely crafted as Swiss watches? The truth is that today, FELCO manufactures not only pruning shears unlike any others but offers tremendous assortment of pruning and cutting products to his clients in over 120 countries. The company is based in Les Geneveyes-sur-Coffrane, Switzerland. In the FELCO catalogue customer can find three general products classifications: “Green,” “Industrial” and “Power-assisted” for professional and leisure use. It sounds very simply but behind these three categories are wide range of goods offer to the client. It starts with the “universal cutter” and finish with “pneumatic and electric tools.” FELCO tools are used in various domains. They are widely used in agriculture, automotive industry, civil engineering and aeronautics, telecommunications, fishing and harbour activities as well many others.  The manufacture not only produces excellent tools but also offers accessories and service to maintenance the highest quality and longtime use of their products. When a new product is created the entire design team attention is focused on the smallest detail. The unique quality, perfection in accuracy and execution as well customer pleasure in using the tools are the base of Swiss Made brand.

A New chapter in Swiss Made knives is a cooperation between FELCO and VICTORINOX.
The two Swiss companies using label Swiss Made, proudly marked in a co-branding agreement a “Grafting and Pruning Knife.” The knife is produced by the manufacturer of Swiss knifes Victorinox.

Victorinox has been in business since 1884 and it is probably not always synonymous with cutlery, but it manufactures one of the world’s best-selling pocket knives, the Swiss Army Knife. Since 1891 Victorinox has been supplying officially the Swiss military with these pocket knives that would eventually become the Swiss Army Knife. As Victorinox knives got renowned, Mr.Karl Elsener, the company founder decided in 1909 to distinguish his knives from copies by using the white cross and red shield as company brand. Slowly but strong, the company was recognized for excellent quality production of original knifes and became one of the leaders in manufacturing cutlery.  1978 was a big moment and a huge recognition for the unique Swiss Made quality of Swiss Army Knives when the first time 50 Master Craftsman knives, model # 5044 were purchased by NASA. Nowadays the Swiss Army Knife is part of the standard equipment for the crew on space missions. Company reputation for durability and reliability is second to none extending a lifetime warranty for those who purchase their products. In addition to the well know production of world-class professional and household knifes Victorinox offers pocket tools, timepieces, travel gear and fashion. All these goods represent Swiss Made quality at every stage of their production. They are masterpieces of quality and latest technology with the roots in a revolutionary idea from 1884 of Mr. Karl Elsener.

In such a distinguish company it could not be missed the Girod Instruments, a Swiss manufacturer measuring instruments of superior precision. The company products are noticed for their Swiss Made solid quality and neat appearance. In 2014 the company is celebrating its 50th anniversary of the successful business. The business is located in Court, in the middle of the Swiss Jura, a region which is well-known as a historical base for manufacturing the famous Swiss watches. Be a part of the living watch industry tradition influenced the products of Girod Instruments.

The company develops measuring instruments as well customized products on request. The main area of the business activity of the company is micro-mechanic. A company’s own product the Girod-Tast is a lever indicator. A part of the Swiss Made quality is an outstanding service. That is very much in line with the Girod Instruments philosophy, because the company manages the repairs of the products directly within its own locations.

Swiss Made is a legacy and philosophy for companies, which are located in Switzerland and desired for the highest quality and standard of their products. The companies pay attention to the smallest detail of their product and respect customer’s well-being.
The Swiss Made trademark is most known for the reliability and precision and is always proudly displays on product which meet the requirements.

By Ella Salzmann

Pictet, the venerable Swiss private bank, used to take discretion to extremes: the brass plate on its Geneva HQ once bore the simple legend ‘P & Co’. The publication of its financial results for the first time in its 209-year-old history is indicative of the changing times for Swiss private banking.

 
George Washington was President of the United States when Lombard Odier was established in 1796, but Uncle Sam’s recent prosecution of tax evaders has forced this notoriously discreet institution to also open its books to public gaze this week in an overt show of transparency.

 
Both institutions have also changed their corporate structure to limit the personal liability of partners – a once-vital calling card of trust and stability – along with Mirabaud and La Roche.

 
In fact, the entire Swiss private banking sector has been swept along by a tide of change, powered by the financial crisis, plunging stock markets, rock bottom interest rates and the global crusade against tax evasion that destroyed Wegelin and humiliated UBS and Credit Suisse.

 
Problems mount
According to PricewaterhouseCoopers (PwC) Switzerland, some CHF600 billion ($650 billion) of client assets under management have gone up in smoke since 2008, with foreign customers withdrawing CHF350 billion more assets than they deposited during this period.

 
Some banks have shut their doors or have been taken over by rivals and PwC predicts that up to 25% of those that still exist could soon be forced into extinction.

 
A recent report by KPMG and the University of St Gallen found that a third of private banks they surveyed made a loss last year, due in good measure to the CHF900 million they have been forced to put aside to cover potential tax evasion writs.

 
According to PwC, Swiss banks provided sanctuary for some CHF800 billion in untaxed money in 2008 – two thirds of all the foreign assets that they housed. That figure has now been reduced to an estimated CHF200 billion, but for many banks the legal problems have yet to be resolved.

 
Although they deny that tax evasion problems have driven their decisions to change, Pictet and Lombard Odier clearly believe that the time is ripe to shed their old clothes and adopt new strategies to match the modern era.

 
New beginnings
But what should the new model look like and which banks will succeed and which will fail? Finding a precise answer to those questions remains as easy as looking into a crystal ball that has not been dusted for many years.

 
The regulatory landscape is still unfolding, the tax evasion issue has yet to be fully resolved and nobody knows when stock markets, particularly in Western Europe, will finally recover.

 
One key to survival is working out how to tap into the new wealth creation markets such as Asia, according to Martin Schilling, head of corporate finance and financial services at PwC Switzerland. “Banks cannot afford to sit back any more and wait for the assets to come to them. They have to learn to actively go to the best markets,” he said.

 
“But they cannot just unroll the Swiss private banking tradition everywhere. It is simply not the case that one model fits all. Banks have to identify their particular areas of expertise and adapt them.”

 
As a rule of thumb, size does matter, according to both PwC and the KPMG-University of St Gallen reports. The cost of meeting new regulatory standards, for example, will hit smaller banks hardest with ample evidence of the minnows already struggling to make ends meet in the light of new demands on their stretched finances.

 
But Schilling remains convinced that the traditional unlimited liability partnership model, still practiced by a dwindling number of smaller Swiss banks, can still in some cases find a way to survive.

 
“The current pressures do not necessarily spell the end of traditional Swiss private bankers, but they will have to adapt to survive,” he said. “A more personal service, where the client is recognised as a person rather than a number, still carries a lot of appeal.”
“But it is not enough to service new generations of wealthy families in the same way as in the past. A bank may have looked after the assets of several previous generations, but the new family members will expect access to the latest digital banking solutions.”

 
Signs of hope
PwC is actually fairly upbeat about the prospects for the surviving members of the Swiss private banking scene and the country’s status as a global industry leader. Its ‘Private Banking Switzerland: from Yesterday to the Day after Tomorrow’ report predicts future healthier profits once financial order is restored around the world.

 
Whilst the KPMG/University of St Gallen report states that 36% of private banks were loss-making last year, PwC calculates that this figure shrinks to 16% once the one-off US tax evasion fines are taken out of the equation.

 
Indeed, some are actually benefiting from the problems of other banks. Pictet reported that their “main source of new business” at present is clients transferring their assets from failing Swiss banks.

 
The Swiss industry has seen the worst of the reputational tax evasion damage that afflicted it over the last six years, said Martin Schilling, whilst its image of high quality private banking experience and know-how remains intact.

 
“Singapore’s wealth management industry may be growing at a faster rate, but talk that it will overtake Switzerland in three years is overstated,” he told swissinfo.ch. “It will probably take economies in Western Europe some time yet to recover, but when they do, Swiss banks will be ready to take advantage.”

 
By Matthew Allen

Source: Swissinfo

Dutch Gouda, Italian Parmesan and other cheeses have been banned from Russian supermarkets. Swiss cheeses are filling some of the gaps.

On the shelves of Moscow’s supermarkets, European cheeses have begun to thin out. Swiss production however isn’t enough to fill the gap, and a mountain of paperwork is in the way. It’s not easy to get a foothold in Russia.

The Margot cheese warehouse in Yverdon is one company impacted. It isn’t as well as known as other Swiss brands, but the company is the number one Swiss exporter to Russia. Since the European embargo, orders have tripled.

While Europeans accuse Switzerland of exploiting the embargo, Swiss companies are asking for more clarity from the Swiss authorities.

A good share of the market is there for the taking, although it is still a niche market catering to the wealthiest Russians. European products, sold at €2 a kilogram, are much cheaper than Swiss ones.

Switzerland has refrained from imposing full sanctions on Russia in line the EU. It plans to tighten restrictions on the export of war materiel to Russia and Ukraine and to take additional measures to ensure that Switzerland is not used as a hub to sidestep sanctions put in place by the EU.

The economics ministry has been asked to prepare a set of measures to be approved by the government. The restrictions on Swiss weapons exports to Russia and Ukraine are to be extended to include special goods, including products used for both military and civilian purposes.

Source: Swissinfo

Will Google and Swiss drugmaker Novartis’ new “smart” contact lenses make medical history? The jury’s still out.
The Google-Novartis venture is the first such deal between Big Tech and Big Pharma.
First revealed as a Google prototype in January, the announcement that the two giants are teaming up is a major step forward for the project. The firms claim the lens will help diabetics track their blood sugar levels by measuring the level of glucose in the wearer’s tears. This information can be communicated to a mobile phone or computer.

The companies also plan to work on a version of the lens adapted for people who can no longer read without glasses. The device uses a tiny wireless chip and miniaturised glucose sensors embedded between two layers of soft contact lens material. In a video, Brian Otis from the Google’s secretive X Lab explained to Associated Press how it would work. Novartis said in a statement that the technology had “the potential to transform eye care”.
The next steps are unclear but Novartis CEO Joe Jimenez told the Financial Times he would be “disappointed” if the first lens was not ready to be marketed by 2019. He has refused to reveal the financial details of the deal.  Wearable technology is a huge growth sector with many companies developing healthcare applications. Jimenez estimated the market for wearable health devices could be worth $10-$50 billion (CHF9-13 billion) within the next decade.

 
Analysts told the New York Times that the pharmaceutical and health care sectors were crucial targets as people increasingly take greater control of their own medical treatment. The Wall Street Journal said experts thought the new deal made sense for both Novartis and Google, especially given Novartis’ dominant presence in the eye-care market through its Alcon unit.
According to the International Diabetes Federation, one in ten people from around the world are expected to have diabetes by 2035.

In a related development, the lens co-creator Babek Parviz, the former head of Google Glass who worked for the secretive Google X Lab, announced this week he is leaving Google for Amazon.

By Simon Bradley

Source: swissinfo.ch

The Joux Valley in northwest Switzerland, the cradle of high-end watchmaking, now generates more jobs than the number of local residents. swissinfo.ch explores the little-known outerlying region whose economic success is assured by French labour.

From the sleepy town of Vallorbe the small Joux Valley train winds its way through picturesque pastures, stopping off at hamlets from another age. Each side of the valley is covered by dense banks of conifers. Sitting at around 1,000 metres altitude at the far western corner of canton Vaud, this remote region is also known as the Vaud Siberia for its harsh winters.

At the end of the small Joux Lake, the commune of Chenit is the centre of the region’s industrial activity. Here well-known luxury watch firms like Audemars Piguet, Jaeger LeCoultre, Vacheron Constantin, Breguet, Blancpain, Patek Philippe and Breguet have set up workshops to produce or assemble watches.

4,000 cross-border workers

Welcome to the home of the Swiss watch industry. Here the gross domestic product per inhabitant was registered at over CHF100,000 ($114,000) in 2006 – the equivalent of canton Zurich.

“We are one of the five most dynamic regions in Switzerland,” proudly declared Eric Duruz, head of economic promotion for the Joux Valley.

The boom in the Swiss watch industry – a record CHF22 billion in exports in 2013 – driven by emerging markets’ taste for luxury products has had a huge impact on the region. The value of production has tripled in a decade and over CHF100 million have been invested locally.

Around 7,000 people now work in the Joux Valley, compared with 5,400 in 2007, while there are only 6,600 residents, including children and pensioners.

The watch firms are obliged to attract workers from abroad to keep business ticking over. Most cross-border workers live just five kilometres away in neighbouring France and some 4,000 commute to work in the valley every day.

“Real” and “false” cross-border workers

“The new cross-border workers come from much further afield, from Brittany, Bordeaux or even the south of France. It’s easier to get someone to come from Paris than from the Lake Geneva region. The Marchairuz and Mollendruz passes [in the Swiss Jura hills] are almost like insurmountable psychological barriers,” said Chenit mayor Jeannine Rainaud-Meylan.

Duruz is convinced the valley’s healthy economic development also benefits the neighbouring Franche-Comté region in France. Complaints from French mayors about Swiss firms “pillaging” their technical colleges are a thing of the past.

“All these workers who earn a good living in Switzerland are keeping this entire outlying French region alive,” he added.

Although the coexistence between locals and longstanding cross-border workers is fairly harmonious, the newer ones are not viewed so favourably.

“As they go home every weekend their involvement in local life is inexistent. The only thing they are interested in is the monthly Swiss salary which is two or three times higher,” complained two French cross-border workers from the Franche-Comté in front of their Swiss watch firm.

At the same time, the Joux Valley residents have not been forgotten by the watchmaking firms, said Rainaud-Meylan. Unemployment stands at only 2% and the Chenit mayor says she has heard of very few cases of salary dumping in the region.

Pressure on salaries

In his offices at Le Sentier, union official Noé Pelet from Unia is more circumspect: “Sure, apart from firms that don’t have collective wage bargaining accords, you can’t really talk about salaries being undercut. But having Swiss and cross-border workers competing for jobs leads to tremendous pressure on wages.”

Pelet highlights the example of workers with over ten years’ experience who earn less than CHF4,000 per month, while “some watch firms have turnovers of CHF1 million per employee”.

On February 9 residents of Joux Valley turned down the rightwing Swiss People’s Party’s initiative to curb immigration and reintroduce quotas for foreigners. While he agrees with those who voted in favour, Duruz said the economic development of the region must be better controlled, reducing the problems as far as possible.

Fleet of French cars

The most evident problem concerns the transport situation. Many locals complain about the twice daily streams of cars carrying cross-border workers that clog up the narrow valley roads. In response the local authorities and firms have tried to improve things by creating car-sharing and bus schemes. The cross-border train between Pontarlier and Vallorbe was also relaunched last year.

“But it’s difficult to change people’s habits,” said the Chenit mayor.

The actual consequences of the anti-immigration vote remain unclear, but they are a source of anxiety for many local employers.

“It’s a shame that working conditions will deteriorate, especially at a time when everything is going so well,” said Duruz.

At Unia half of all members are cross-border workers.

“Our members are not too worried. They know perfectly well that the big watch companies will ask for worker quotas and get them. But this vote won’t improve the working conditions, neither will it help redistribute the fruits of the watch industry growth,” said Pelet.

“Watchmaking monoculture”

In the Joux Valley people are clearly delighted that the villages of Le Brassus or Le Sentier [which merged to form the commune Chenit] are now known by watch fans in places like China and Japan, but the enthusiasm stops there. The watch industry crisis of the 1970s, which hit the region hard and led to the exodus of 2,000 residents, is still in the back of many people’s minds.

But it’s difficult to avoid this “watchmaking monoculture”, said Rainaud-Meylan: “We tried to set up an industrial zone to attract small and medium-sized firms from other sectors. But all those that set up here are linked in some way to the watch industry, attracted by the presence of the major brands.”

Other more critical voices can be heard denouncing the “miracle claptrap” and the huge amount of money invested in communication and the exploitation of the Swiss-made label to the detriment of overall quality.

“The annual results of the big watch firms are dictating the direction and the manufacturing processes come second,” said Vincent Jaton, director of the Joux Valley Museum of Watchmaking . “A growing number of consumers are unhappy with these products sold for several tens of thousands of Swiss francs which really do not meet expectations.”

A watchmaking expert from the region echoed this: “When foreign visitors arrive they are only shown around the part of the factory where people still work by hand. On the other side it’s total industrialization with workers on a production line repeating the same gestures all day long. By continuing like this these firms are taking a great risk for the region and for the entire Swiss watchmaking industry.”

By Samuel Jaberg (translated from French by Simon Bradley)

Source: Swissinfo.ch

The key players in the Swiss plastics industry have decided to pool their resources under the umbrella brand “Swiss Plastics”. The plastics trade association (www.swiss-plastics.ch), the association’s magazine, the trade fair and the further training centres officially launched the network on 20 January 2014 at a symposium in Lucerne / Switzerland.

According to the relevant news release, the network will provide the Swiss plastics industry with a new platform on which it will be able to present itself more effectively worldwide. In addition, the publication of an innovation report and foreign trade shows are also planned. In 2012, the Swiss plastics industry – which consists of 828 companies with a total workforce of 34,353 – posted sales of nearly CHF 15 bn (EUR 12.2 bn), which is equivalent to 2.5% of Swiss GDP.

The president of the newly founded association is Doris Fiala, a member of the Swiss National Council for Zurich who already heads the plastics federation. Its vice president is Albert Schwarzenbach, a member of the Lucerne city council. The other members of the board are Jürg de Pietro, managing director of the Katz plastics training and technology centre, and Kurt Röschli, who is in charge of marketing and communications in the – Swiss Plastics association.

German version of this article – Deutsch-version dieses artikels

Source: Plasteurope

Technology group Kudelski has said that its OpenTV and Nagravision subsidiaries have filed a lawsuit against Apple Inc in a court in northern California, alleging the iPhone maker has infringed five United States patents.
The lawsuit identifies iOS mobile devices, Apple TV, App Store, iTunes, iADS, Safari and OS X-based personal computers as infringing the patents owned by OpenTV and Nagravision, the company said in a statement released on Wednesday evening.

Kudelski – based in Cheseaux-sur-Lausanne in the French-speaking part of Switzerland – did not give further details about the patent suit. Its founder, the late Stefan Kudelski, invented the Nagra – the first portable professional sound recorder. The Nagra audio unit has since been spun off. Polish-born Kudelski died in 2013 and the company is now run by his son, André.

Apple was not immediately available for comment.

California-based OpenTV provides software technology for interactive and digital television, including video-on-demand and advanced programme guides, while Nagravision develops security technologies for digital media.
Kudelski describes itself as a “world leader in digital security” and holds more than 4,000 issued and pending patents worldwide.

It is not the first time that the Swiss company has used legal means to defend its patents. In February 2014 it resolved litigation and signed a multi-year cross-licence patent agreement with Cisco Systems.

Computer giant Apple, meanwhile, is currently faced with numerous patent complaints. Its long court dispute involving South Korean arch rival Samsung is ongoing.

Source: Swissinfo.ch

The world’s two largest cement makers, France’s Lafarge and Holcim of Switzerland, have agreed to the terms of a merger that would create a company with a market value of around $55-billion (U.S.), a source close to the deal said on Sunday.

Such a merger, achieved by Holcim buying Lafarge, would be the industry’s biggest-ever tie-up and create an entity with combined sales of over $40-billion, raising the likelihood it will draw extra scrutiny from global competition watchdogs.

The boards of Lafarge and Holcim approved the proposal on Saturday and are due to announce it on Monday, the source said. The two groups have already begun to address possible competition concerns that would arise, the source added.

“The boards met yesterday and approved the proposal,” the source said. “An official communication is due on Monday.”

Lafarge declined to comment. Holcim was not immediately available for comment. Both firms are likely to be counting on support from major shareholders. More than a third of Lafarge stock is own by two investors who are represented on its board.

The two companies had already issued statements on Friday announcing they were in advanced talks to merge, a deal which would help them slash costs, trim debt and better cope with the soaring energy prices and weaker demand that have hurt the sector since the 2008 economic crisis.

Their share-price levels jumped to four-year highs on the news, lifting the entire cement sector. A merger would take out spare capacity and help consolidate the market, analysts said.

The terms of the transaction, reported by French newspaper Le Figaro and confirmed by the source, will see Holcim launch a public takeover for Lafarge payable in shares. If successful, the combined firm will be based in Switzerland but will have operational headquarters in Switzerland and France.

Lafarge Chief Executive Officer Bruno Lafont will become CEO of the combined entity, while the chairman will be Swiss.

Investment-bank Rothschild and boutique firm Zaoui & Co – helmed by veteran deal-making brothers Michael and Yoel Zaoui – are advising Lafarge, while Goldman Sachs is advising Holcim, according to two sources close to the deal.

Holcim and Lafarge are close in size, with the former’s market capitalisation at $30-billion and the latter’s at $25-billion. They each have an enterprise value – which includes debt as well as equity – at around 10 times earnings before interest, tax, depreciation and amortisation (EBITDA).

However, in share-price terms, Lafarge enjoys a more expensive valuation with a price-to-earnings ratio of around 33 versus Holcim’s 20.5, according to Reuters data. Lafarge’s stock is up 18 per cent this year. Holcim’s is up around 20 per cent.

Both companies have high-profile billionaire backers, according to data compiled by Thomson Reuters.

Switzerland’s Thomas Schmidheiny and Filaret Galchev from Russia control a total of 31 per cent of Holcim, while Lafarge’s two biggest shareholders are Groupe Bruxelles Lambert – holding company of Belgium’s Albert Frere – and Egyptian tycoon Nassef Sawiris. The Thomson Reuters data show GBL and Sawiris own a total of 37 per cent of the French firm.

Any deal is likely to draw scrutiny from global competition watchdogs, as a Lafarge-Holcim combination would have a dominant position in both Europe and the United States.

Both companies have significant and overlapping capacity in countries such as France, Germany, Spain, the Czech Republic, Romania and Serbia, according to Morningstar analyst Elizabeth Collins.

Analysts have also pointed to Canada and Brazil as other markets where the new entity would have a dominant position.

The companies are already working to address possible antitrust concerns, the source said, without elaborating.

Regulators would probably require the companies to shed some cement plants and distribution facilities before approving any merger.

Lafarge’s 2013 merger with Tarmac, Anglo American’s British business, was approved by British antitrust authorities only after both agreed to sell a significant number of assets.

Holcim and Mexican rival Cemex also announced plans in August to exchange some assets and combine others in Europe. European Union antitrust regulators are investigating aspects of the deal and whether it will reduce competition and result in higher prices for consumers.

A merger could put pressure on major global competitors such as Cemex as well as Germany’s Heidelbergcement and Anhui Conch Cement of China.

The merger plan comes after both Lafarge and Holcim took on debt in the past decade to expand in emerging markets, where rapid urbanisation has fed demand for building materials.

Then the U.S. housing bubble burst, Europe sank into a sovereign debt crisis and demand collapsed. Lafarge suffered further when the unrest of the Arab Spring held back the very markets it had banked on with its $12-billion takeover of Egypt’s Orascom Cement in 2008.

Meanwhile, energy prices spiked and many plants in the power-hungry industry are now running at a loss or well below their capacity.

Lafarge, whose cement helped build the Suez Canal and Hitler’s Atlantic Wall bunkers along France’s west coast, employs around 65,000 workers in 64 countries. Holcim, which was founded in 1912, now has about 71,000 employees in 70 countries.

Since the economic crisis, Lafarge and Holcim have both embarked on cost-cutting drives and shed assets to trim debt.

Some analysts said a merger would help Lafarge potentially almost halve its fixed and variable costs, as Holcim has a better credit rating than Lafarge and the group as a whole could benefit from lower borrowing costs.

Lafarge, whose debt is rated as junk by Standard & Poor’s and Moody’s, aims to regain an investment grade this year.
By Lionel Laurent

Source: The globe and mail