Archive – Banking & Fintech

Novartis announces final pay-off deal for Vasella

This content was published on Jul 17, 2013 According to the board of directors of the Basel-based pharma giant, Vasella will receive $5.2 million in cash and unrestricted shares for eight months’ work this year assisting with the transition to his successor. He will also get a guaranteed minimum fee of $250,000 a year from 2014 through 2016 just to be available for…

Cycle courier Christian prepares to fight his way through Bern city traffic

This content was published on Jul 16, 2013

Take the Money and Run

This content was published on Jul 16, 2013 Counting through stashes of money can be seen in films as early as the 1920s.(Pictures: AFP/Kobal Collection, cinetext.de)

Glencore Xstrata to halt Australian iron ore work

This content was published on Jul 16, 2013 “Falling revenue, increasing production costs and on-going high logistics costs in getting our product from mine to market have eroded the margins in this business,” the company said in a statement on Tuesday. “Global iron ore prices have experienced more than a 30 per cent drop over the past two years.” The plant, which processed…

All funds from dormant accounts now allocated

This content was published on Jul 15, 2013 The figure was contained in a court order filed by New York judge Edward Korman, who oversees the management of the fund. Korman summed up operations since a landmark 1998 deal between the World Jewish Congress and Swiss banks. The banks were accused of keeping money owned by Jews who had hidden funds in secret…

Building activity stalled in holiday village

This content was published on Jul 11, 2013 More than 200 chalets were built on Lauchernalp over the past few decades leaving traces of intense construction activity. But unlike previous years with busy contractors on up to half a dozen building sites, there is very little activity now. A nationwide decision to curb the construction of new chalIets appears to have an impact…

Connected TV

This content was published on Jul 8, 2013 swissinfo.ch – beyond the clichés – now also on your TV swissinfo.ch on your TV. Viewers worldwide can now access swissinfo.ch on their television. The app can be activated through the app portal on the TV. Free download.

US tax spat worries cantonal banks

This content was published on Jul 8, 2013 At the beginning of July the Swiss government said that it would give special permission to banks to cooperate with the United States justice authorities, as a means of helping them avoid criminal charges that would threaten their existance. This would involve banks asking for authorisation to hand over bank data to the US on…

Court verdict seals bank client data transfer

This content was published on Jul 5, 2013 The Federal Court threw out two test complaints from bank clients on Friday, paving the way for the handover of information relating to 96 requests made by the US Internal Revenue Service (IRS) through the double taxation agreement (DTA) mechanism between the two countries. The final verdict followed a Federal Administrative Court ruling last…

Chinese probe forces baby milk price cut

This content was published on Jul 4, 2013 Demand for Western formulas in China has rocketed since tainted local supplies caused the deaths of infants in 2008. But the Chinese authorities suspected that foreign firms were taking unfair advantage of the surge in interest for their products. Vevey-based Nestlé responded to the probe by announcing a range of price cuts to its Wyeth…

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