Archive – Banking & Fintech

Julius Bär faces more cost-cutting

This content was published on Sep 30, 2011 But the bank has declined to confirm a report in Neue Zürcher Zeitung newspaper that 150 posts were at stake, mainly in private banking and investment solutions. “We’re going to cut material costs but some jobs will also have to go,” bank spokesman Jan Vonder Muehll told Reuters, adding the savings would be made in…

UBS interim CEO drops other business duties

This content was published on Sep 30, 2011 In a statement, it rejected as “damaging” and “untrue” media reports about Ermotti’s private board membership mandates, saying it had in fact approved them. Ermotti has been in office for almost a week following the departure of former CEO Oswald Grübel after UBS investment bank lost $2.3 billion (SFr2 billion) in alleged rogue trading. “In…

Who is to blame for the collapse of Swissair?

This content was published on Sep 29, 2011

Nestlé shares rise after CFO appointment

This content was published on Sep 28, 2011 Shares of the world’s biggest food group gained around one per cent as analysts said Wan Ling Martello’s experience of the retail industry and emerging markets would be a boost for the Vevey-based maker of Nescafé coffee and KitKat chocolate bars. Martello, 53, a US citizen of Chinese and Philippine origin, currently at the world’s…

French-Swiss TGV service blows out 30 candles

This content was published on Sep 28, 2011 The TGV service, which now also connects the French capital with Basel, Zurich, Lausanne, Neuchâtel, Bern and Brig, has revolutionised travel between France and Switzerland. For the Swiss authorities the expansion of the TGV service to Switzerland has been a real success story. “On the whole our assessment is a positive one. Switzerland is in…

Economic “normality” forecast for next year

This content was published on Sep 27, 2011 But Switzerland will still have to endure a winter of hardship before the financial markets finally realise that the drivers of the real economy (industry and consumers) are fundamentally secure. The KOF Swiss Economic Institute revised its summer economic predictions downwards on Tuesday. Gross domestic product (GDP) growth this year was downgraded to 2.3 per…

Huntsman to cut up to 600 jobs in Basel

This content was published on Sep 27, 2011 It said on Tuesday it would restructure its textile division and may close its production facilities and business support offices in Basel. Meanwhile, 100 new staff will be recruited in key markets. The division’s Basel-based research and technology department will not be affected by the planned restructuring. “We need to take bold action to fundamentally…

Analytical and charming: the new UBS chief

This content was published on Sep 26, 2011 The interim appointment crowns a stellar career for the investment banker and many observers believe he will be given the job of leading 65,000 employees on a permanent basis. But who is Sergio Ermotti? “I have the feeling that I have come home,” said Ermotti when he joined UBS in April of this year as…

Zimbabwe indigenous law hits Nestlé

This content was published on Sep 26, 2011 A law enacted in March 2010 requires any foreign company with assets valued at over $500,000 (SFr453,000) to sell 51 per cent to indigenous Zimbabweans. Nestlé, along with Barclays Bank and British American Tobacco amongst others, has until the end of September to comply with the law or risk facing losing its license to operate…

Swiss launch programme with World Bank

This content was published on Sep 26, 2011 Switzerland’s State Secretariat for Economic Affairs (Seco) and the World Bank have co-launched a $9 million (SFr8.2 million) programme to support countries in their shock management efforts. The launch was announced during the annual meeting of the International Monetary Fund and World Bank in Washington, DC, on Monday. In a statement, Seco said events such…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Julius Bär faces more cost-cutting

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UBS interim CEO drops other business duties

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Who is to blame for the collapse of Swissair?

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Nestlé shares rise after CFO appointment

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French-Swiss TGV service blows out 30 candles

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Economic “normality” forecast for next year

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Huntsman to cut up to 600 jobs in Basel

More

Analytical and charming: the new UBS chief

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Zimbabwe indigenous law hits Nestlé

More

Swiss launch programme with World Bank

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