Archive – Banking & Fintech

South Korea fines Novartis over kickbacks

This content was published on Mar 2, 2017 South Korea’s health ministry has fined Swiss pharmaceutical giant Novartis 55.1 billion South Korean won (CHF48 million) for offering doctors kickbacks.

Wanted: Pharma super cops

This content was published on Mar 2, 2017 Have experience in tackling cybercrime, extremism, extortion, blackmail and bribery? If yes, the Swiss pharma industry might want to hear from you.

Nestlé and Danone team up to produce green plastic

This content was published on Mar 2, 2017 More used to battling it out over mineral water and baby milk, Nestlé and Danone have joined forces to create a greener plastic bottle.

Illegal gambling sites to be blocked in Switzerland

This content was published on Mar 1, 2017 The House of Representatives also decided on Wednesday that only casinos resident in Switzerland may receive an online licence. “Blocking websites works – experience abroad demonstrates that,” said Thierry Burkart from the centre-right Radical Party. The Senate had already approved the block. Only the rightwing Swiss People’s Party and the leftwing Greens showed signs of resistance.…

Online shopping trend intensifies – especially cross-border

This content was published on Mar 1, 2017 About 15% of all non-food products are ordered online, while food product orders only accounted for about 2% according to a survey by the Association of Mail-order companies, Swiss Post and the GfK Switzerland market research. Online shopping from providers abroad even surged by 18% to CHF1.3 billion according to data published on Wednesday. The…

Half of Swiss manufacturers plan to move abroad

This content was published on Feb 28, 2017 The franc has increased in value against the euro and dollar ever since the Swiss National Bank (SNB) ended its policy of printing huge amounts of local currency in January 2015. As a result, 57% of firms in the electrical engineering, fine tools and machine building industries have seen margins erode to unsatisfactorily low levels…

Swiss tackle overfishing with new law

This content was published on Feb 27, 2017 “This new ordinance is designed to ensure that only fishery products of lawful origin – i.e. no products from illegal, unreported and unregulated fishing activities – are imported into Switzerland,” the Federal Food Safety and Veterinary OfficeExternal link announced on Monday. Several species of fish are threatened by overfishing. According to the office, the regulation…

Dicing with debt: a guide to government overspending

This content was published on Feb 24, 2017 No country can function without debt. swissinfo.ch explains the causes and potential consequences of being seriously in the red.

No Swiss protection for Louboutin’s red-soled shoes

This content was published on Feb 24, 2017 On Friday, the Federal Supreme Court in Lausanne turned down Louboutin’s demand for protection stating that the red soles are merely an aesthetic element and are thus not deserving of trademark protection. The court added that just because the brand managed to wrangle trademark status for its red soles in other countries like China, Russia…

Sika remains juicy takeover target

This content was published on Feb 24, 2017 On Friday, Sika announced record annual sales of CHF5.7 billion (up 5.5% on 2015) and profits of CHF567 million. The family-owned business said it has already outstripped its 2018 growth targets. However, the family descendants of Sika’s founder are still intent on selling their 53% voting rights to French industrial conglomerate Saint-Gobain. If they succeed…

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