Archive – Banking & Fintech

Portuguese immigrants celebrate Euro 2004

This content was published on Jun 1, 2004 The 160,000-strong community is looking forward to celebrating Euro 2004 – either in Portugal or at home in Switzerland. Portuguese football fans are going into the European Championships buoyed up by the victory of top club, Porto, in the Champions League. Porto triumphed 3-0 over Monaco in this year’s final of the most important club…

Fiat reshuffle deprives Switzerland of top manager

This content was published on Jun 1, 2004 Analysts have warned that his move to Italy’s largest industrial group is likely to be a significant loss for SGS. While at SGS, Marchionne succeeded in restructuring the company and turning it around after a period of crisis. Confirmation of his appointment at Fiat sent the SGS share price tumbling at the stock exchange. At…

Adecco finally confirms 2003 figures

This content was published on Jun 1, 2004 The company has twice delayed its results while auditors scrutinised its books for accounting irregularities. The audit cost €100 million (SFr153 million). Adecco’s executive chairman John Bowmer said that auditor Ernst & Young had “confirmed to the board that [it] will deliver an unqualified audit opinion with the full consolidated financial statements prepared in accordance…

National campaign targets passive smoking

This content was published on May 31, 2004 The national anti-smoking drive is calling on non-smokers to stand up for their right to clean air. It is using a series of television adverts and posters showing people holding their noses to get the message across that tobacco smoke is not only bad for people’s health but also antisocial. “Although two-thirds of Swiss do…

Banks seek ways to exploit EU tax “loopholes”

This content was published on May 28, 2004 Tax experts say banks and financial advisors have for months been looking for ways to circumvent tax obligations in the recently-concluded bilateral agreements with the EU. “There are a lot of loopholes in the EU’s taxation directive, which underpins the agreement between the EU and Switzerland,” Thomas Jaussi, a Basel-based tax specialist with accounting firm…

Economy shows signs of recovery

This content was published on May 28, 2004 The economy grew by 0.4 per cent in the first quarter of 2004, coming in at the lower end of government expectations. The State Secretariat for Economic Affairs (Seco) said on Friday that first-quarter Gross Domestic Product (GDP) had risen by 1.5 per cent from a year ago – the first time in four quarters…

Government faces revolt over rail cuts

This content was published on May 26, 2004 Regional authorities, notably in western Switzerland, have criticised a proposal to release only SFr665 million ($524 million) for the first phase of work. The cabinet decided on Wednesday to shave SFr75 million from the package for upgrading access to the high-speed rail network in neighbouring France and Germany. Switzerland wants to improve services to the…

Spin-offs score in football bonanza

This content was published on May 25, 2004 Sales of scarves, team shirts, flags and football stickers are expected to go through the roof. Around 3,000 Euro 2004-related items are being distributed under Uefa licence. Classic items such as Panini stickers and albums first appeared in Swiss kiosks in mid-April, leading to frenetic exchanges in school playgrounds across Switzerland. More than 20 million…

Government tries to stir up spirit of enterprise

This content was published on May 24, 2004 The aim is to encourage entrepreneurial thinking and innovation among students and boost economic growth. On Monday the Federal Office for Professional Education and Technology unveiled details of how it hopes to help more young entrepreneurs set up in business on their own. The programme has a four-year budget of SFr16 million ($12.5 million) for…

Slowing down to see the sites

This content was published on May 24, 2004 Thanks to the huge success of SlowUp since it began in 2000, five additional events are set to go ahead this summer in scenic locations across the country. Tens of thousands of cyclists and skaters flowed non-stop along the roads hugging the shore of Lake Murten, passing through the walled medieval towns of Murten and…

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