Archive – Banking & Fintech

SWISS BANKING – ORIGINAL

This content was published on Oct 31, 2011 His journey takes us to the heart of a $7,000 billion secret. The Swiss hold a third of all global offshore assets, shored up by conservatism and strict banking secrecy laws. With half of this market, just two banks – UBS, and Credit Suisse – dominate the austere heart of the banking sector.

Central bank reports third quarter rise

This content was published on Oct 31, 2011 The SNB said on Monday that “the gold price and current interest rate situation have resulted in high valuation gains on gold and fixed interest rate investments”. However, the bank added that the appreciation of the Swiss franc against major currencies since the beginning of the year had caused exchange-rate-related valuation losses. The SNB has…

Cracking the Chinese luxury goods market

This content was published on Oct 30, 2011 Thirty-nine-year-old billionaire Philippe Gaydoul tells swissinfo.ch why he wants to expand by trying to sell his Navyboot, Fogal and other brands in China. In 2000, Gaydoul took over at the helm of Denner, the discount retailer founded by his grandfather, Karl Schweri. In 2007, Gaydoul sold Denner to Switzerland’s largest retailer, Migros, for an undisclosed…

Protestors urge Novartis to scrap job cuts

This content was published on Oct 29, 2011 “The demonstrators … are criticising Novartis for putting profits ahead of jobs and want it to reconsider its decision,” said the trade union Unia in a statement. Novartis announced the cuts, which will take effect over the next three to five years, on Tuesday. A further 900 positions will be eliminated in the United States.…

Competition chief tests anti-cartel firepower

This content was published on Oct 28, 2011 Coffee machine manufacturers Jura and cosmetics firm Care on Skin are the first of ten pilot investigations that Comco recently said it would carry out. Cartels are blamed for helping to inflate the cost of goods in high price Switzerland. Some companies are suspected of flouting recent laws that allow for parallel imports to take…

Cuts at Novartis prompt pharma soul-searching

This content was published on Oct 28, 2011 One of Switzerland’s strongest economic sectors, the combined pharmaceutical and medical technology industries are responsible for some 30 per cent of Swiss exports each year. But with austerity measures introduced by governments of developed countries biting heavily into drug prices, Novartis said it was being forced to accelerate restructuring plans – despite reporting a seven…

Wages to increase just over one per cent in 2012

This content was published on Oct 28, 2011 With inflation expected to be around 0.2 per cent, growth for wages will be around 0.9 per cent in real terms. Companies participating in UBS’ annual compensation survey said nominal salaries rose 1.5 per cent this year, while inflation was 0.3 per cent. The bank’s analysts said the best deals will probably continue to be…

Greek bankruptcy has “finally been accepted”

This content was published on Oct 27, 2011 Swiss finance expert Hans Geiger tells swissinfo.ch that by doing this, European Union countries did not avert Greece’s bankruptcy, but instead accepted it. The deal, which followed talks into the early hours of Thursday, sees banks and insurances holding Greek debt accepting a 50 per cent loss. Banks must also boost their capital ratio –…

Companies probed over strong franc tactics

This content was published on Oct 27, 2011 The companies are believed to have drawn up agreements to take advantage of exchange rates without accounting for the difference in profit margins. Solothurn electronics firm Jura is believed to have carried out parallel imports of its products while Aargau beauty product manufacturer Care on Skin is under investigation for its online sales to specialist…

Bernese billionaire works to keep West wild

This content was published on Oct 27, 2011 The Bern-born entrepreneur has been recognised by the Wilderness Society for his long-term environmental philanthropy in the United States. His work on land conservation in the West has earned him this year’s prestigious Robert Marshall Award. Wyss, president and majority shareholder of Synthes, a multinational medical device manufacturer based in canton Solothurn and Pennsylvania, is…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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SWISS BANKING – ORIGINAL

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Central bank reports third quarter rise

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Cracking the Chinese luxury goods market

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Protestors urge Novartis to scrap job cuts

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Competition chief tests anti-cartel firepower

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Cuts at Novartis prompt pharma soul-searching

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Wages to increase just over one per cent in 2012

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Greek bankruptcy has “finally been accepted”

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Companies probed over strong franc tactics

More

Bernese billionaire works to keep West wild

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