BLUE NEWS: The "Bilanz" shows in its new richest list: Switzerland's super-rich have once again increased their wealth - to a total of 851.5 billion Swiss francs, more than ever before. Only those who own at least around 15 billion francs make it into the top ten.
Switzerland will continue to be a magnet for great fortunes in 2025. The new "Bilanz" rich list shows: The total wealth of the 300 richest people has never been as high as it is today. If you want to make it to the top, you need sums that command respect even among billionaires.
The entry threshold for the top ten is around CHF 15 billion. And at the top are entrepreneurial dynasties that dominate very different sectors of the economy - from luxury cosmetics to container shipping. » | Blue News | Undated
Showing posts with label Switzerland. Show all posts
Showing posts with label Switzerland. Show all posts
September 11, 2026
August 27, 2026
Germany’s Second Richest Man Died – What Happens to the Money? | DW News
August 19, 2026
Geneva Super-rich Rocked by Luxury Home Burglary Spree
SWI: The Lake Geneva region is fighting a growing number of violent home robberies of its wealthiest residents, which threaten the area’s reputation as a haven for the ultra-rich and have inflamed suspicions across the border with France.
Swiss authorities are turning to video footage, number-plate recognition and tougher border policing as they try to crack down on the “homejackings”, which have shocked the normally peaceful area.
The attacks typically involve intruders breaking into occupied homes and threatening residents – sometimes at gunpoint – before escaping with watches, jewellery and other valuables across the border to France.
Private bankers, commodities traders and other wealthy executives are among those who have been targeted, fuelling concern in a region that is home to some of the world’s biggest banks and trading houses. Companies including Pictet and Trafigura have raised concerns about the attacks with authorities, according to people familiar with the discussions.
The extreme violence of the attacks has prompted some politicians to call for targeted checks at the French border and prompted many wealthy communities to hire private security.
“This trend has recently become much more organised, targeted and common,” said Florence Bettschart-Narbel, a member of the legislature in the canton of Vaud, on the north side of Lake Geneva. “We are concerned about the impact on Switzerland’s attractiveness to foreigners and companies.” » | Mercedes Ruehl, Financial Times | Monday, August 17, 2026
Copyright The Financial Times Limited 2026
ALSO READ:
Switzerland’s super-rich: essential contributors or a social threat?: Switzerland is one of the wealthiest countries in the world. However, its wealth is distributed very unevenly: the richest 1% own 45% of total assets. At the same time, this elite group contributes a significant share of the country’s tax revenue. Swiss public broadcaster, SRF, takes a closer look. »
July 23, 2026
Swiss Divided over Restricting Real Estate Market for Foreigners
SWISSINFO.CH: The consultation on the planned tightening of the Lex Koller law has revealed a deep divide between the political camps. Whilst business organisations and estate agents warn of serious disadvantages, political parties on both the left and right welcome the proposal.
The Swiss government intends to respond to the tight situation on the housing market by tightening the rules. In future, people living abroad will no longer be allowed to buy shares in listed residential property companies. The consultation on the plans ended on Wednesday.
The left-wing Social Democrat Party and right-wing Swiss People’s Party supported the proposal. They argued that foreign capital was driving up property prices. » | SWI | Wednesday, July 15, 2026
ALSO READ:
Swiss government to tighten foreign property ownership »
The Swiss government intends to respond to the tight situation on the housing market by tightening the rules. In future, people living abroad will no longer be allowed to buy shares in listed residential property companies. The consultation on the plans ended on Wednesday.
The left-wing Social Democrat Party and right-wing Swiss People’s Party supported the proposal. They argued that foreign capital was driving up property prices. » | SWI | Wednesday, July 15, 2026
ALSO READ:
Swiss government to tighten foreign property ownership »
June 23, 2026
SNB* Keeps Interest Rates at Zero
WRS/SWISS RADIO IN ENGLISH: The Swiss National Bank has kept its key interest rate at 0% for the fourth time in a row.
The decision was widely expected, but the bank warned it is now more prepared to intervene in currency markets to counter a rapid rise in the franc — which has been climbing as investors flee geopolitical tensions to the safe haven.
Inflation in Switzerland has edged up from 0.1% in February to 0.6% in May, driven mainly by energy prices linked to the conflict in the Middle East. » || WRS | Friday, June 19, 2026
* SNB – Schweizerische Nationalbank
The decision was widely expected, but the bank warned it is now more prepared to intervene in currency markets to counter a rapid rise in the franc — which has been climbing as investors flee geopolitical tensions to the safe haven.
Inflation in Switzerland has edged up from 0.1% in February to 0.6% in May, driven mainly by energy prices linked to the conflict in the Middle East. » || WRS | Friday, June 19, 2026
* SNB – Schweizerische Nationalbank
June 13, 2026
Should Switzerland Cap Its Population at 10 Million? Voters Will Decide.
THE NEW YORK TIMES: One of the world’s richest countries is about to hold a referendum on a measure that would curb migration and most likely the economy. It is being sold in warm tones.
This screenshot is from this NYT article. | Campaign posters ahead of the population cap vote. President Trump’s face is on a no poster, with the slogan, “Now, of all times, a break with Europe?” The yes slogan shown is “Protect Switzerland.” | Sebastien Bozon/Agence France-Presse — Getty Images
For 50 years, Walter Nef has carved toys and cheese boards from maple trees that grow near his quiet village outside Zurich, which seems louder to him by the day. There are more cars, more construction cranes, more people, and not just in this valley. Switzerland, Mr. Nef says, seems just about full.
That is why Mr. Nef says he supports a nationwide initiative, in an election this Sunday, to cap the resident population at 10 million. The measure aims to drastically reduce immigration as the country approaches that level, which it could reach in the next decade. But Mr. Nef, like many supporters, describes the measure less in terms of migrants than in terms of infrastructure, ecology and density.
“It is simply not good when an organism grows so fast,” Mr. Nef, 79, told me at his workshop this week.
The election on Sunday is a product of Switzerland’s form of direct democracy, which allows groups that can gather 100,000 signatures to send major policy questions to voters with relative ease, in a way that echoes states like California. Polls suggest a tight contest that could go either way.
It is the latest chapter in Europe’s backlash against migration, which has helped right-wing parties surge across the continent, including in Switzerland, a country with four official languages that has been shaped by migrants for nearly two and a half centuries.
But this chapter comes with several twists, starting with its sales pitch.
The measure was put to voters by the right-wing Swiss People’s Party, which has sent other anti-migration measures to the ballot in the past, including a successful effort to ban the construction of mosque minarets. This time, it has spent much of the campaign appealing to centrist voters’ concerns about traffic jams, crowded trains and high housing costs. It calls the measure a “sustainability initiative.” » | Jim Tankersley | Reporting from Zurich, Bern, Basel and Bauma, Switzerland | Saturday, June 13, 2026
How Capping Its Population at 10 Million Could Reshape Switzerland »
Swiss wait to hear result of ballot on capping population at 10 million: The far-right proposal would require the government to put restrictions in place to limit the population by 2050 »
LESEN SIE AUCH:
Macht die Schweiz den Deckel zu?: Die Abstimmung über eine Obergrenze der Bevölkerung von zehn Millionen lässt die Schweizer Wirtschaft zittern. Sie ist auf Arbeitskräfte aus dem Ausland angewiesen und fürchtet um den Zugang zum europäischen Binnenmarkt. » [€]
À LIRE AUSSI :
« Pas de Suisse à 10 millions d’habitants » : avant le référendum sur l’immigration, que disent les sondages ? : Attachés à la démocratie directe, les Suisses sont appelés aux urnes pour se prononcer sur une initiative visant à limiter l’expansion de la population. La démographie helvète a été bouleversée par l’immigration depuis 2002. »
For 50 years, Walter Nef has carved toys and cheese boards from maple trees that grow near his quiet village outside Zurich, which seems louder to him by the day. There are more cars, more construction cranes, more people, and not just in this valley. Switzerland, Mr. Nef says, seems just about full.
That is why Mr. Nef says he supports a nationwide initiative, in an election this Sunday, to cap the resident population at 10 million. The measure aims to drastically reduce immigration as the country approaches that level, which it could reach in the next decade. But Mr. Nef, like many supporters, describes the measure less in terms of migrants than in terms of infrastructure, ecology and density.
“It is simply not good when an organism grows so fast,” Mr. Nef, 79, told me at his workshop this week.
The election on Sunday is a product of Switzerland’s form of direct democracy, which allows groups that can gather 100,000 signatures to send major policy questions to voters with relative ease, in a way that echoes states like California. Polls suggest a tight contest that could go either way.
It is the latest chapter in Europe’s backlash against migration, which has helped right-wing parties surge across the continent, including in Switzerland, a country with four official languages that has been shaped by migrants for nearly two and a half centuries.
But this chapter comes with several twists, starting with its sales pitch.
The measure was put to voters by the right-wing Swiss People’s Party, which has sent other anti-migration measures to the ballot in the past, including a successful effort to ban the construction of mosque minarets. This time, it has spent much of the campaign appealing to centrist voters’ concerns about traffic jams, crowded trains and high housing costs. It calls the measure a “sustainability initiative.” » | Jim Tankersley | Reporting from Zurich, Bern, Basel and Bauma, Switzerland | Saturday, June 13, 2026
How Capping Its Population at 10 Million Could Reshape Switzerland »
Swiss wait to hear result of ballot on capping population at 10 million: The far-right proposal would require the government to put restrictions in place to limit the population by 2050 »
LESEN SIE AUCH:
Macht die Schweiz den Deckel zu?: Die Abstimmung über eine Obergrenze der Bevölkerung von zehn Millionen lässt die Schweizer Wirtschaft zittern. Sie ist auf Arbeitskräfte aus dem Ausland angewiesen und fürchtet um den Zugang zum europäischen Binnenmarkt. » [€]
À LIRE AUSSI :
« Pas de Suisse à 10 millions d’habitants » : avant le référendum sur l’immigration, que disent les sondages ? : Attachés à la démocratie directe, les Suisses sont appelés aux urnes pour se prononcer sur une initiative visant à limiter l’expansion de la population. La démographie helvète a été bouleversée par l’immigration depuis 2002. »
May 10, 2026
The Lure of St. Moritz - From Sleepy Mountain Village to Luxury Resort | DW Documentary
May 9, 2026 | St. Moritz is the birthplace of alpine winter tourism, as well of many winter sports. The village, with its magnificent location in the Swiss Engadin mountains, was already attracting celebrities in the last century.
St. Moritz is one of the most exclusive winter sports resorts in the world, with a burnished history. Located in the picturesque Swiss Engadin mountains, the village attracted many celebrities in the last century: including Charlie Chaplin, Audrey Hepburn, Brigitte Bardot, Gunter Sachs, Andy Warhol and Herbert von Karajan. Coco Chanel sought refuge here, during the war. Alfred Hitchcock was inspired to write his first classic in one of St. Moritz’s grand hotels, and returned many times over the decades. The Shah of Persia temporarily ruled his empire from a chalet on the Suvretta slope.
Just 150 years ago, St. Moritz was still a simple mountain village. Then, adventurous Englishmen arrived, invented new winter sports and laid the foundation for the town's fame.
Five-star hotels sprang up in the village of 5,000 inhabitants, which suddenly became a winter hotspot for the rich and famous.
Numerous winter sports originated here, some of which are unique to this location: in Cresta, participants race headfirst down into the valley on low sleds - on the longest natural ice track in the world. The Cresta Club, founded over 100 years ago by Englishmen, is still one of the most exclusive clubs in the world.
In skijoring, skiers are pulled across the frozen Lake St. Moritz by horses. Winter sports, tradition and sophisticated lifestyle, luxury and cosmopolitanism characterize the history of St. Moritz.
St. Moritz is one of the most exclusive winter sports resorts in the world, with a burnished history. Located in the picturesque Swiss Engadin mountains, the village attracted many celebrities in the last century: including Charlie Chaplin, Audrey Hepburn, Brigitte Bardot, Gunter Sachs, Andy Warhol and Herbert von Karajan. Coco Chanel sought refuge here, during the war. Alfred Hitchcock was inspired to write his first classic in one of St. Moritz’s grand hotels, and returned many times over the decades. The Shah of Persia temporarily ruled his empire from a chalet on the Suvretta slope.
Just 150 years ago, St. Moritz was still a simple mountain village. Then, adventurous Englishmen arrived, invented new winter sports and laid the foundation for the town's fame.
Five-star hotels sprang up in the village of 5,000 inhabitants, which suddenly became a winter hotspot for the rich and famous.
Numerous winter sports originated here, some of which are unique to this location: in Cresta, participants race headfirst down into the valley on low sleds - on the longest natural ice track in the world. The Cresta Club, founded over 100 years ago by Englishmen, is still one of the most exclusive clubs in the world.
In skijoring, skiers are pulled across the frozen Lake St. Moritz by horses. Winter sports, tradition and sophisticated lifestyle, luxury and cosmopolitanism characterize the history of St. Moritz.
March 23, 2026
November 21, 2025
Swiss Gold and Rolex Gifts to Trump Arouse ‘Disgust’ in Europe
THE GUARDIAN: Billionaires gave desk clock and engraved gold bar weeks before Trump slashed tariffs on imports from Switzerland
A gold Rolex desk clock and a $130,000 engraved gold bar given to Donald Trump by a group of Swiss billionaires have raised questions in Europe and the US about the personalisation of US presidential power.
Pasquale Tridico, an Italian MEP and the former head of the country’s national institute for social security said he was “disgusted” by the golden charm offensive, made weeks before Trump decided to slash 39% tariffs on Swiss imports to 15%.
“This is really awful,” he said, claiming that it seemed to be a case of “making foreign policy the policy of individuals”.
Lisa Mazzone, the president of the Green party in Switzerland said the gifts appeared to show Trump’s “corrupt logic had poisoned the Swiss elite”.
“It is unacceptable that the federal council is relying on the help of an economic elite that represents private interests and lacks democratic legitimacy in its negotiations with the US president,” she added. » | Lisa O’Carroll in Brussels | Friday, November 21, 2025
A gold Rolex desk clock and a $130,000 engraved gold bar given to Donald Trump by a group of Swiss billionaires have raised questions in Europe and the US about the personalisation of US presidential power.
Pasquale Tridico, an Italian MEP and the former head of the country’s national institute for social security said he was “disgusted” by the golden charm offensive, made weeks before Trump decided to slash 39% tariffs on Swiss imports to 15%.
“This is really awful,” he said, claiming that it seemed to be a case of “making foreign policy the policy of individuals”.
Lisa Mazzone, the president of the Green party in Switzerland said the gifts appeared to show Trump’s “corrupt logic had poisoned the Swiss elite”.
“It is unacceptable that the federal council is relying on the help of an economic elite that represents private interests and lacks democratic legitimacy in its negotiations with the US president,” she added. » | Lisa O’Carroll in Brussels | Friday, November 21, 2025
October 12, 2025
How Switzerland Helped Finance Hitler’s War – Historical Documentary
August 25, 2025
Switzerland: A Haven for Russian Money? | DW Documentary
May 27, 2024 | Despite sanctions against Russia, asset managers are said to have hidden money belonging to Putin‘s confidants. This documentary follows the trail of shadow bankers and high-ranking Russian officials to Switzerland.
Private jets and villas, bank accounts and financial assets: Switzerland is coming under criticism from the international community. Have Swiss asset managers and well-known institutions circumvented sanctions against wealthy Russians with good connections to the Kremlin?
When the Russian army invaded Ukraine in February 2022, the European Union responded with sanctions against Russia. Russian oligarchs who did business in Europe were also affected. Many of them keep their assets in Swiss private banks. Switzerland joined the sanctions, albeit hesitantly and only under pressure from abroad.
However, it appears that some Russian citizens are still managing to circumvent the sanctions. This is indicated by internal documents from a Zurich-based asset manager that were published on the darknet for a short time in 2023. How extensive are the concealed Russian assets? How seriously did the Swiss authorities take the sanctions? And by what means are the US and Europe trying to force the hand of the Swiss banks?
Private jets and villas, bank accounts and financial assets: Switzerland is coming under criticism from the international community. Have Swiss asset managers and well-known institutions circumvented sanctions against wealthy Russians with good connections to the Kremlin?
When the Russian army invaded Ukraine in February 2022, the European Union responded with sanctions against Russia. Russian oligarchs who did business in Europe were also affected. Many of them keep their assets in Swiss private banks. Switzerland joined the sanctions, albeit hesitantly and only under pressure from abroad.
However, it appears that some Russian citizens are still managing to circumvent the sanctions. This is indicated by internal documents from a Zurich-based asset manager that were published on the darknet for a short time in 2023. How extensive are the concealed Russian assets? How seriously did the Swiss authorities take the sanctions? And by what means are the US and Europe trying to force the hand of the Swiss banks?
August 15, 2025
'Horror Scenario': US Slaps Switzerland with Tariffs | DW News
August 13, 2025
The Swiss Lived in Splendid Isolation for Years. Trump’s Tariffs Have Shattered That Complacency
THE GUARDIAN: The shockwaves sent by the US president could finally push Switzerland closer to the EU
Growing up in Zurich often felt like being removed from the world. It shouldn’t be that way: after all, Switzerland is at the heart of Europe. Riding on the cosy Zurich trams, one hears all the world’s languages; and the airport offers more direct intercontinental flights than Berlin. And yet, coming of age in Switzerland is like sitting in an aquarium looking at the world through a thick bulletproof window.
That glass was shattered last week when Donald Trump announced 39% tariffs on Swiss exports. The US is the most important destination for Swiss products: 18.6% of all its exports go there. If Trump maintains the tariffs, sales to the US “will be effectively annihilated”, said Switzerland’s industry lobbying group. The rightwing Swiss business minister, Guy Parmelin, announced a furlough programme to shield the economy from “mass layoffs”. The tabloid newspaper Blick captured the mood with a stark black front page, pronouncing it a “black day” for Switzerland. » | Joseph de Weck | Wednesday, August 13, 2025
Growing up in Zurich often felt like being removed from the world. It shouldn’t be that way: after all, Switzerland is at the heart of Europe. Riding on the cosy Zurich trams, one hears all the world’s languages; and the airport offers more direct intercontinental flights than Berlin. And yet, coming of age in Switzerland is like sitting in an aquarium looking at the world through a thick bulletproof window.
That glass was shattered last week when Donald Trump announced 39% tariffs on Swiss exports. The US is the most important destination for Swiss products: 18.6% of all its exports go there. If Trump maintains the tariffs, sales to the US “will be effectively annihilated”, said Switzerland’s industry lobbying group. The rightwing Swiss business minister, Guy Parmelin, announced a furlough programme to shield the economy from “mass layoffs”. The tabloid newspaper Blick captured the mood with a stark black front page, pronouncing it a “black day” for Switzerland. » | Joseph de Weck | Wednesday, August 13, 2025
August 10, 2025
Trump Goes Nuts as Switzerland’s Gold Move Puts $48 Billion US Deficit at Risk
August 09, 2025
Living the Nightmare’: Swiss in Shock as 39% U.S. Tariff Takes Effect | APT
Aug 7, 2025 | Swiss citizens and business leaders are reeling after Washington imposed a staggering 39% tariff on Swiss exports—far above those negotiated by the EU or UK.
The surprise move has sent shockwaves through industries like luxury watches, chocolate, machinery, and gold refining. With tens of thousands of jobs at risk and GDP projected to drop up to 0.6%, Swiss officials are scrambling.
President Karin Keller Sutter failed to secure a reduced rate during last-ditch talks in D.C., and now Switzerland is convening emergency meetings while urging calm and pursuing continued negotiations with U.S. authorities.
This video captures the sense of economic alarm and national urgency gripping Switzerland as it enters a new era of trade turbulence.
The surprise move has sent shockwaves through industries like luxury watches, chocolate, machinery, and gold refining. With tens of thousands of jobs at risk and GDP projected to drop up to 0.6%, Swiss officials are scrambling.
President Karin Keller Sutter failed to secure a reduced rate during last-ditch talks in D.C., and now Switzerland is convening emergency meetings while urging calm and pursuing continued negotiations with U.S. authorities.
This video captures the sense of economic alarm and national urgency gripping Switzerland as it enters a new era of trade turbulence.
August 01, 2025
Switzerland Is Stunned by 39% U.S. Tariff, Among the Highest in the World
THE NEW YORK TIMES: Swiss officials plan to negotiate furiously for a lower rate in the coming days, before the punishing levy takes effect.
Switzerland got a rude awakening on Friday, a national holiday, after President Trump imposed a 39 percent tariff on goods imported from the Alpine country, one of the highest rates of any country. Karin Keller-Sutter, the Swiss president, said that she had spoken with Mr. Trump on Thursday but that “no agreement could be reached.”
The Swiss were already indignant about Mr. Trump’s initial threat, in April, to levy a 31 percent tariff on their goods. When the White House announced revised rates late on Thursday, the Swiss were shocked to see that already steep rate raised further. Many other tariffs were maintained or lowered somewhat by Mr. Trump’s revisions.
Now, Swiss products imported in the United States, including pharmaceuticals, precision instruments and even coffee capsules, will be subject to the 39 percent tariff if the two sides don’t hash out a trade deal by Aug. 7. » | Liz Alderman | Reporting from Paris | Friday, August 1, 2025
Switzerland got a rude awakening on Friday, a national holiday, after President Trump imposed a 39 percent tariff on goods imported from the Alpine country, one of the highest rates of any country. Karin Keller-Sutter, the Swiss president, said that she had spoken with Mr. Trump on Thursday but that “no agreement could be reached.”
The Swiss were already indignant about Mr. Trump’s initial threat, in April, to levy a 31 percent tariff on their goods. When the White House announced revised rates late on Thursday, the Swiss were shocked to see that already steep rate raised further. Many other tariffs were maintained or lowered somewhat by Mr. Trump’s revisions.
Now, Swiss products imported in the United States, including pharmaceuticals, precision instruments and even coffee capsules, will be subject to the 39 percent tariff if the two sides don’t hash out a trade deal by Aug. 7. » | Liz Alderman | Reporting from Paris | Friday, August 1, 2025
January 24, 2025
‘They Need a Reset’: Gloom in Davos as Trump Boom Leaves Europe Behind
THE GUARDIAN: America First doctrine and threat of tariffs leave EU elite wondering how it can close economic gulf with US
In the bars, hotels and windowless conference halls of the World Economic Forum in Davos, two themes dominated the conversation: America’s ascendancy and Europe’s decline.
If the scale of the continent’s problems was unclear before politicians and chief executives descended on the Swiss ski resort, there was no ambiguity by the time Donald Trump had finished speaking.
The 47th president of the US beamed via video into a packed conference hall to rail against stifling European regulation, car exports flooding to the US and fines and penalties on Apple, Google and Facebook.
No longer will members of Nato be able to freeload off America’s security guarantee, he added, demanding they increase defence spending to 5% of GDP – a barb aimed squarely at Europe.
“From the standpoint of America, the EU treats us very, very unfairly, very badly,” he said. “We have some very big complaints with the EU.” » | John Collingridge and Heather Stewart in Davos | Friday, January 24, 2025
In the bars, hotels and windowless conference halls of the World Economic Forum in Davos, two themes dominated the conversation: America’s ascendancy and Europe’s decline.
If the scale of the continent’s problems was unclear before politicians and chief executives descended on the Swiss ski resort, there was no ambiguity by the time Donald Trump had finished speaking.
The 47th president of the US beamed via video into a packed conference hall to rail against stifling European regulation, car exports flooding to the US and fines and penalties on Apple, Google and Facebook.
No longer will members of Nato be able to freeload off America’s security guarantee, he added, demanding they increase defence spending to 5% of GDP – a barb aimed squarely at Europe.
“From the standpoint of America, the EU treats us very, very unfairly, very badly,” he said. “We have some very big complaints with the EU.” » | John Collingridge and Heather Stewart in Davos | Friday, January 24, 2025
March 12, 2024
Why Is Switzerland Home to So Many Billionaires?
September 30, 2020
Geneva to Raise Minimum Wage to £3,500 a Month
THE GUARDIAN: Voters back increase amid reports of growing poverty linked to Covid-19 pandemic
Geneva is to raise its minimum wage to almost £3,500 a month, reported to be the highest in the world, after locals approved the measure in a surprise vote result sparked by reports of growing coronavirus-linked poverty in the Swiss city.
The canton’s 500,000 voters passed the increase proposed by local unions and leftwing parties, after twice rejecting it in 2011 and 2014.
The minimum hourly wage will rise to just under £19.50 an hour, more than twice the rate in neighbouring France, with a guaranteed minimum monthly salary of 4,086 Swiss francs (£3,457) based on a 41-hour working week, or 49,000 Swiss francs (£41,430) a year, in one of the world’s most expensive cities to live. » | Kim Willsher in Paris | Wednesday, September 30, 2020
Geneva is to raise its minimum wage to almost £3,500 a month, reported to be the highest in the world, after locals approved the measure in a surprise vote result sparked by reports of growing coronavirus-linked poverty in the Swiss city.
The canton’s 500,000 voters passed the increase proposed by local unions and leftwing parties, after twice rejecting it in 2011 and 2014.
The minimum hourly wage will rise to just under £19.50 an hour, more than twice the rate in neighbouring France, with a guaranteed minimum monthly salary of 4,086 Swiss francs (£3,457) based on a 41-hour working week, or 49,000 Swiss francs (£41,430) a year, in one of the world’s most expensive cities to live. » | Kim Willsher in Paris | Wednesday, September 30, 2020
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