Archive – Banking & Fintech

Competition watchdog fines Nikon

This content was published on Dec 15, 2011 In a statement on Thursday, Comco said Nikon had illegally closed off the Swiss market by inserting clauses into foreign distribution contracts restricting exports to Switzerland. Inversely, the company inserted similar clauses into its Swiss distribution contracts to restrict supply abroad. Between spring 2008 and autumn 2009, Nikon had also exerted pressure over distributors of…

ABB buy into US solar power market

This content was published on Dec 14, 2011 ABB said it was investing $20 million (SFr19 million) for a “substantial” minority stake in the group. Through the investment ABB gains access to GreenVolts’ technology. ABB said the American company delivers energy yields that can be 30 to 40 per cent higher than traditional panel-based systems. The pairing up of the two companies would…

Reshuffles continue at Basler Zeitung

This content was published on Dec 14, 2011 Ticino financier Titto Tettamanti announced on Wednesday he had bought 100 per cent of Basler Zeitung Media’s shares from Rahel Blocher, the daughter of the rightwing Swiss People’s Party strongman and billionaire Christoph Blocher. The company has now changed hands for the fourth time in a short period of time. Rahel Blocher had acted as…

Credit Suisse to shave 2011 bonuses

This content was published on Dec 14, 2011 “The bonus pool will be sharply lower again this year,” the bank’s chairman Urs Rohner said in an article appearing in Thursday’s edition of the Handelszeitung. Last year, Credit Suisse’s bonus pool shrank to SFr5.05 billion ($5.4 billion) from SFr6.87 billion. Credit Suisse decided to address the bonus issue after Chief Executive Brady Dougan was…

Swisscom loses big money in Italy

This content was published on Dec 14, 2011 Swisscom, which invested €4.6 billion to buy Fastweb in 2007, posted a net profit of SFr1.8 billion in 2010. “The difficult economic situation and increasing interest rates have led to reduced prospects for growth and a higher cost of capital in Italy,” Swisscom announced in a statement on Wednesday. Swisscom said Fastweb’s book value had…

Seco lowers economic forecast for 2012

This content was published on Dec 13, 2011 In September it had predicted a growth of 0.9 per cent. The governmental experts put the change down to a cooling off in the European economy during autumn. In a statement on Tuesday, they pointed to the weak economic conditions in the European Union and the strong franc as factors weighing down the Swiss economy.…

Swiss Federal Railways targets fare dodgers

This content was published on Dec 12, 2011 This policy translates into hefty fines for passengers who fail to buy their tickets prior to boarding – either because they forgot or because they were in too much of a hurry. “Of course you need a ticket when you take the train – it shouldn’t be that fare dodgers are encouraged,” Sara Stalder, head…

Nestlé voted best employer

This content was published on Dec 12, 2011 The Ideal Employer Rankings compiled by Swedish consultants Universum Communications sets out which companies are on most business professionals’ wish lists when it comes to employer attractiveness and career expectations. The balance between work and private life remained the main deciding factor when choosing an employer, ahead of intellectual challenges. Those polled were less concerned…

“Serious social effects” plague Greece

This content was published on Dec 12, 2011 Lorenzo Amberg said the will for the necessary change was slowly gaining a foothold, but admitted many ordinary Greeks were struggling to afford food and medicine. On November 11, a new coalition cabinet led by Lucas Papademos was sworn in, easing the political tension. On December 6, Athens witnessed riots following a ceremony to mark…

Satisfying sweet tooth to become more expensive

This content was published on Dec 11, 2011 The head of the Zurich-based company, Jürgen Steinemann, says the cocoa supply has not been able to keep up with global demand. “If we don’t have any cocoa in the long-term, than we will not be able to produce chocolate,” he told the Sonntag newspaper. Steinemann said this would lead to higher prices for the…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Competition watchdog fines Nikon

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ABB buy into US solar power market

More

Reshuffles continue at Basler Zeitung

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Credit Suisse to shave 2011 bonuses

More

Swisscom loses big money in Italy

More

Seco lowers economic forecast for 2012

More

Swiss Federal Railways targets fare dodgers

More

Nestlé voted best employer

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“Serious social effects” plague Greece

More

Satisfying sweet tooth to become more expensive

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