Archive – Banking & Fintech

Swiss National Bank announces profit

This content was published on Mar 8, 2012 Releasing the figures on Thursday, the bank said profit on foreign currency positions was SFr7.7 billion. The result on gold holdings was SFr5.4 billion. The bank is allocating SFr3.2 billion to the currency reserves. The Confederation and the cantons will receive SFr1 billion, and shareholders will get dividends of SFr1.5 million. Another SFr3.9 billion is…

KPMG audit clears SNB governing board

This content was published on Mar 7, 2012 The audit was commissioned by the SNB after former chairman Philipp Hildebrand resigned in January amidst a furore over international financial transactions carried out by his wife. Two previous audits of the controversial Hildebrand transactions found no rules had been broken but he was still forced to quit after losing public confidence. The affair prompted…

Swiss high-tech suppliers drive auto industry

This content was published on Mar 7, 2012 But as they stroll through the packed halls and ogle at the glitzy selection of new models, few will probably be aware that Swiss technology is packed away under the shiny bodywork. “Switzerland doesn’t produce complete cars. Parts manufactured by Swiss suppliers are concealed within the system and are therefore less visible,” Anja Schulze, head…

Power and elegance

This content was published on Mar 7, 2012 The Geneva Motor Show is one of the most important of its kind in the world. Some 260 exhibitors from 30 countries are at the Palexpo exhibition hall, presenting more than 140 world and European premieres. (Pictures: Christoph Balsiger, swissinfo.ch)

US to ease pressure on Switzerland

This content was published on Mar 6, 2012 Speaking to German-language television on Tuesday, Donald Beyer welcomed the decision by the House of Representatives to allow the US authorities to receive administrative assistance in matters involving grouped requests for information about US holders of Swiss bank accounts. The US can now expect assistance if it submits requests based on a suspicious “pattern of…

Initiative launched on public sector profits

This content was published on Mar 6, 2012 Several consumer magazines have got together to launch a people’s initiative that would ensure that the large profits made by companies like the Federal Railways and Swisscom are reinvested, and would also align the salaries they pay with those paid to employees in the federal administration. The initiative was presented to the media in Bern…

Complaint against Nestlé over Colombian death

This content was published on Mar 6, 2012 Sinaltrainal and the Germany-based European Center for Constitutional and Human Rights (ECCHR), filed the charges against Nestlé and members of its senior management with the public prosecutor in the Swiss canton of Zug. The case concerns Luciano Romero, a former employee of the Nestlé subsidiary Cicolac, who was murdered by paramilitaries in 2005 in Valledupar…

Revised US tax deal gets green light

This content was published on Mar 5, 2012 On Monday the House followed the Senate in agreeing to revisions to the Swiss-US double taxation accord, which are also supported by the government. The revised accord allows for administrative assistance to be provided to the US in matters involving grouped requests for information, based on a suspicious “pattern of behaviour” by people or financial…

Women step up fight for equal pay

This content was published on Mar 5, 2012 Women still earn on average 18.4 per cent less than men doing exactly the same job despite the fact that the law on sex equality has been in force since 1981, and wage discrimination has been illegal for 15 years. Given this difference, the Business and Professional Women (BPW) group has calculated that women need…

Glencore boosted by prices and demand

This content was published on Mar 5, 2012 The Swiss-based company benefited in 2011 from rising prices for key raw materials and steadily growing demand in developing countries. Glencore reported a profit of $3.8 billion for the full year 2010. The company said in a statement on Monday that income attributable to shareholders reached $4.05 billion last year. Glencore, which received a $10…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Swiss National Bank announces profit

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KPMG audit clears SNB governing board

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Swiss high-tech suppliers drive auto industry

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Power and elegance

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US to ease pressure on Switzerland

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Initiative launched on public sector profits

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Complaint against Nestlé over Colombian death

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Revised US tax deal gets green light

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Women step up fight for equal pay

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Glencore boosted by prices and demand

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