Archive – Banking & Fintech

Swiss firms get good palm oil report cards

This content was published on Nov 22, 2011 WWF assessed the palm oil buying practices of 132 companies in Europe, Australia and Japan to gauge their commitment to buying and using sustainably produced palm oil. This was the second assessment since the first one in 2009. The Palm Oil Buyers’ Scorecard measured the performance of major retailers and consumer goods manufacturers in regard…

Swiss accounts of L’Oréal heiress uncovered

This content was published on Nov 21, 2011 A total of 12 secret accounts worldwide were identified, containing around €100 million (SFr124 million) at the end of 2010, according to the Mediapart news website. The accounts were housed in six financial institutions – including Switzerland’s UBS, Julius Bär, Hyposwiss and Banque cantonale Vaudoise. Others are held at Baring Brothers and the Singapore branch…

New accord signed on central bank profits

This content was published on Nov 21, 2011 The agreement will cover the financial years 2011 to 2015. The SNB said in a statement on Monday that if the distribution reserve is positive, it would make an annual distribution payment of SFr1 billion ($1.09 billion) to the confederation and the cantons. However, the bank warned that it was “unclear when the next distribution…

Pressure grows for underground power lines

This content was published on Nov 21, 2011 Attempts to move to more underground cables have had little political success. But the situation is changing. In Switzerland, battles are taking place that most people are unaware of. These are not conflicts over land or natural resources but over power lines and whether to prevent their proliferation. Swissgrid, the national electricity grid operator, estimates…

UBS chief says bank in “position of strength”

This content was published on Nov 20, 2011 But he warned in an interview with the NZZ am Sonntag newspaper that the bank, which has recently been hit by a rogue-trading scandal, could not eliminate risk totally. UBS announced on November 17 that it would will dramatically cut back its investment bank as well as slash risky assets by almost a half. It…

Bike company to electrify exports

This content was published on Nov 20, 2011 The manufacturer of the electric bike Stromer recently got the kind of publicity no money can buy: images of Hollywood stars Leonardo DiCaprio and Blake Lively riding high in Stromer saddles through the streets of New York. But the brains behind the bike, Thomas Binggeli, was faced with a dilemma. His pedelec (pedal+electric), which was…

TAG Heuer invests millions in production

This content was published on Nov 19, 2011 The company, which is now part of the world’s largest luxury goods group, the French concern LVMH, will create 150 extra jobs. It already employs 1,000 people in Switzerland. TAG Heuer communications head Françoise Bezzola has confirmed a report which appeared in Saturday’s Le Temps newspaper. Building work should begin in February 2012, she told…

Occupy protestors to move location

This content was published on Nov 19, 2011 The demonstrators said that although central, the area at the Protestant church of St Jakob was simply too small and they would have to find another location. They added in a statement quoted on the Swiss news agency that they regretted that some members of the congregation, including a local politician, had left the church…

Youth able to order alcohol online

This content was published on Nov 19, 2011 It found that 34 out of 82 orders (41.5 per cent) carried out on the internet by minors in spring 2011 were successful. The results of this pilot test have been published in the latest edition of the board’s Alcohol and Politics magazine. Under Swiss law beer and wine cannot be sold to anyone under…

Alstom faces possible bribery charges

This content was published on Nov 18, 2011 French newspaper Le Monde reported on Friday that Alstom was suspected by Swiss authorities “to have paid, between 2003 and 2010, tens of millions of euros in bribes and kickbacks to public and foreign officials”. The paper, which did not cite its sources, said the prosecutor’s office was “on the point” of issuing a conviction against Alstom…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Swiss firms get good palm oil report cards

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Swiss accounts of L’Oréal heiress uncovered

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New accord signed on central bank profits

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Pressure grows for underground power lines

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UBS chief says bank in “position of strength”

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Bike company to electrify exports

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TAG Heuer invests millions in production

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Occupy protestors to move location

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Youth able to order alcohol online

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Alstom faces possible bribery charges

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