Our opinion
Swiss pharmaceutical industry facing political headwinds
The pharmaceutical industry is currently high on Donald Trump's list of priorities. He wants more production and jobs in the US, as well as lower drug prices. As a means of exerting pressure, he is threatening to impose price caps and introduce tariffs on drugs. These goals are, of course, contradictory, which is causing even more uncertainty.
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Market commentary on the US trade conflict with Switzerland
The list of new customs measures against Switzerland, published on the night of Swiss National Day on August 1, came as a surprise. The economic impact of the tariffs is significant.
Lucerne lacks a foundation culture
For the first time, a study shows how differently cantons exempt foundations from taxes. Zurich recently liberalized its practice. How is Lucerne reacting?
Market commentary 3rd quarter 2025
Geopolitical tensions remain high – in the Middle East, Ukraine, and in trade disputes. At the same time, the SNB has lowered interest rates to zero. As a result, there are no longer any secure returns over reasonable maturities. Swiss dividend stocks present themselves as an attractive investment option.
Assets oblige – not only economically, but also in human terms
To what extent did “American philanthropy” shape the origins of the KKL Luzern? Why do many small foundations fail because of bureaucracy - and how does an umbrella foundation help? Why are freedom and individuality crucial for effective engagement?
What “doing good” triggers in our brain
Why do emotions and feelings have much more to do with brain health than solving Sudoku or crossword puzzles? What are the positive effects of “doing good” and why are there no rationally functioning brains?
Sovereign debt – what we can learn from history
Debt crises are not a new phenomenon and are often triggered by the financial burden of wars, explained Prof. Dr. Albrecht Ritschl from the London School of Economics and Prof. Dr. Tobias Straumann from the University of Zurich as part of Reichmuth & Co Lecture No. 26 on May 21, 2025 at the Institute for Swiss Economic Policy (IWP) at the University of Lucerne.
1989 in reverse
US President Trump's flood of decrees and erratic decisions on customs policy are throwing people and markets into turmoil. There is no trace of reliability. This calls for a strategic reassessment of investment policy.
Trade war and slumping stock markets
The trade conflict instigated by Donald Trump has led to sharp falls on the international stock markets - including in Switzerland. This development has meant that most of the stock market gains of the last 12 months have been lost again.
Market commentary 2rd quarter 2025
Since the beginning of the year, market breadth has increased noticeably both regionally and at index level - a sign of broader participation in the upswing. The dominance of the large US technology companies thus appears to have been broken.
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