Archive – Banking & Fintech

Geneva struggles to stem soaring unemployment

This content was published on Mar 1, 2004 With a jobless rate of seven per cent – almost three per cent higher than the national average – pressure is mounting for cantonal officials to make more effort to tackle the problem. Since the mid-1970s, Geneva has consistently topped the Swiss unemployment charts as the canton with the highest number of people seeking work.…

Tragedy of child labourers comes to light

This content was published on Feb 29, 2004 Although many of these child workers were beaten and even sexually abused, the practice was allowed to continue throughout Switzerland until the 1950s. “It’s a very sad chapter in Switzerland’s history and it’s astonishing it wasn’t talked about until very recently,” says Peter Neumann, a filmmaker who has made a documentary on the subject. The…

Fat tax finds lean support

This content was published on Feb 27, 2004 Both health experts and the food industry doubt whether a tax would solve the problem of obesity. Heiner Studer, a Protestant Party parliamentarian, plans to introduce his proposal during the spring parliamentary session, which began on March 1. “The main idea is to force the food industry to change the kind of foods it produces,”…

ABB poaches Sulzer boss for top job

This content was published on Feb 27, 2004 Fred Kindle is chief executive officer of technology rival Sulzer and will replace Dormann at the start of 2005. Dormann will remain chairman of ABB for at least “one to two years”. Although some analysts expressed surprise at the choice – many were expecting an appointment from within ABB’s ranks – Kindle’s youth and his…

Government facing financial challenge

This content was published on Feb 26, 2004 The president, Joseph Deiss, said it was important to find new ways of reducing expenditure by about SFr2.5 billion ($2 billion) and balancing the budget. Despite cuts of SFr3.5 billion already voted by parliament, the authorities say they have no choice but to implement another cost-cutting programme. The federal budget is expected to be SFr2.9…

Inspectors dish the dirt on Swiss restaurants

This content was published on Feb 26, 2004 Consumer groups are calling on the authorities to expose the culprits by publishing a list of dirty restaurants. The stereotype of Switzerland as a paragon of cleanliness is severely challenged by the data supplied each year by the cantonal laboratories, which carry out spot checks on catering establishments. “You don’t need to go to the…

Adecco claims support from key shareholders

This content was published on Feb 26, 2004 Shares in Adecco rose sharply on Thursday amid news that the Swiss billionaire, Klaus Jacobs, would rejoin the company’s board. In another boost to investors, the agency also said it had found “no evidence demonstrating major misappropriations or irregularities.” Jacobs last month warned that management had until April to restore investor trust, severely damaged in…

Swiss free ports seek to improve their image

This content was published on Feb 26, 2004 The free port of Geneva – one of the biggest in Switzerland – welcomes the development, which it hopes will improve the image of the customs posts. The ports’ reputation has been harmed in recent months amid reports of works of art being smuggled across Switzerland’s borders. But on Tuesday, Geneva free port authorities sought…

Nestlé profit falls

This content was published on Feb 26, 2004 The weakness of the dollar pushed overall sales down 1.3 per cent to SFr87.98 billion. The Vevey-based group said on Thursday the results were in line with expectations. The maker of Nescafe coffee, ice cream, chocolate and Perrier water said it had experienced a successful year with strong organic growth and improved margins. Disregarding currency…

Banks hit back at “capital flight” claims

This content was published on Feb 25, 2004 The Swiss Bankers Association lashed out on Wednesday at critics who last month accused the country of encouraging “capital flight”. “It is a fact that many developing countries have barely-functioning financial markets and thus offer few opportunities for investment,” said Urs Roth, the association’s chief executive. “As long as wealthy people in the developing countries…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Geneva struggles to stem soaring unemployment

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Tragedy of child labourers comes to light

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Fat tax finds lean support

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ABB poaches Sulzer boss for top job

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Government facing financial challenge

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Inspectors dish the dirt on Swiss restaurants

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Adecco claims support from key shareholders

More

Swiss free ports seek to improve their image

More

Nestlé profit falls

More

Banks hit back at “capital flight” claims

Popular Stories

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