The Numbers Go "Viral"
SPECIAL EDITION: The Swiss Insider 15.03.2020 #insidersdoitsmarter
Dear Insider,
The worldwide drama that is the coronavirus has now taken center stage - for real.
Switzerland’s neighbor to the south, Italy, moved into full lockdown modus on Monday. On Friday, the Federal Council took steps of its own, closing schools, limiting large group gatherings and announcing state aid for citizens and small businesses.
In these trying times, the only thing more infectious than the Covid-19 strain that has caused the current state of affairs, is the unending string of numbers being fed to anxious readers (and watchers) of news around the world.
How could you not, when two maniac world leaders (Putin and Saudi Crown Prince Mohammad Bin Salman) have started a price war on oil, global stock indicies go crazy and the number of toilet paper rolls in local supermarkets hits a big, fat zero?
This week’s edition of The Swiss Insider dives into the numbers that have been going “viral” (pun absolutely intended).
For better or worse, they can only go up…
The (Viral) Numbers Game
All the numbers that matter in these troubled times…
0,2%
Small by comparison, but then even two-tenths of a percentage point can make a dramatic difference. Such is the projected contraction of the Swiss economy in 2020, according to statistics published by Raffeisen and its Chief Economist Martin Neff. So much for a resilient economy…
30%
Crypto assets were not immune to the catastrophic sell-off that hit global markets over the past week. The largest cryptocurrency by market capitalization, Bitcoin, lost nearly 40% of its value over the past seven days, with current prices sitting at around $5 000. At least everything went down together…
4 128
Basel-based Roche has apparently won approval from the US FDA to move ahead with a coronavirus testing setup that could potentially enable the checking of up to 4 128 patients per day. For most, it can’t come fast enough…
40 000
After Italy stepped up its drastic measures to limit the spread of coronavirus, the big question for Switzerland became - “When will they close the border?” The Federal Council declined to do so on Friday when it announced new emergency measures, but new restrictions against tourists and non-Swiss residents did manage to reduce the amount of border crossings by 40 000. For some, it was not nearly enough…
10 billion CHF
With new restrictions to travel, open gatherings as well as restaurants, bars and other small busineses in tourism, gastronomy and transport, the Federal Council also announced 10 billion CHF worth of support for those most severely affected. The devil will, as always, remain in the details…
22%
For holders of more traditional assets, such as Swiss equities, the coronavirus outbreak has been unforgiving. The SMI index currenty stands at around 8 200, a drop of more than 22% on the year. And March is only half over…
255 million CHF
Not all the numbers hitting the news these days are directly linked to the Covid-19 pandemic. The Swiss Post announced its 2019 annual numbers this past week and they did not look good: 255 million CHF in profit, down 149 million CHF from the previous year. With a growing number of service points (4 753 in total) and a workforce of 56 000, the national “treasure” (to listen to some in Swiss politics) has a lot of baggage to carry into the next phase of its existence. CEO Roberto Cirillo has his work cut out for him…
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15-20%
Two companies who are set to make out like bandits in the current tough times are Uber Eats and its rival Smood. Together with the entire meal delivery service industry, they already seen growth of approximately 20% since the first cases of coronavirus were reported in Switzerland a little more than two weeks ago. Home office or no, you always have to eat…
20 milllion CHF
The times call for solidarity - and apparently Swiss banks are ready to step up to bat as well. According to reports this week, some of the major players from Paradeplatz, including Credit Suisse are anxious to put together a rescue fund with at least 20 million CHF to help the most accutely affected SMEs hurt by the current crisis. That number may need to grow…quickly…