Archive – Banking & Fintech

EXHIBITION: How watchmaking conquered the world

This content was published on Jun 14, 2011 The Swiss National Museum presents a retrospective dedicated to the life and art of Abraham-Louis Breguet, probably the greatest watchmaker of all time. Originally from Switzerland, Breguet settled in Paris and by 1800 had established a network that covered the whole of Europe. The exhibition shows a selection of 175 pieces.

Strong franc leading to slower growth

This content was published on Jun 14, 2011 However, Seco maintained its prediction of 2.1 per cent growth for 2011, in its quarterly forecast published on Tuesday. In May, the Swiss franc reached record highs against all major currencies. The real effective exchange rate of the franc, which measures it against a basket of foreign currencies, has also now reached an all-time high.…

Rolling stock unlikely cause of Simplon fire

This content was published on Jun 12, 2011 No one was injured in the blaze in the key rail tunnel linking Switzerland and Italy. It was reopened to traffic on Saturday. Jean Gross, the deputy head of the federal office responsible for investigating rail and shipping accidents, told the Le Matin Dimanche newspaper that both engines of the freight train that caught fire…

Zurich airport should be enlarged

This content was published on Jun 12, 2011 Hohmeister told the SonntagsZeitung newspaper that the international airport was essential for the landlocked country if it wanted access to the “globalised world”. He said the current infrastructure at the airport was insufficient to deal with future economic growth in Switzerland. The head of the airline, which is owned by Germany’s Lufthansa, said a night…

Italy complains over Bilderberg incident

This content was published on Jun 11, 2011 According to a report by the Italian news agency, Ansa, on Saturday, the Italian foreign ministry has asked Switzerland to name those responsible. The incident happened on Thursday when Mario Borghezio and another unnamed Italian citizen were stopped by employees of a private security service at the official entrance to the Suvretta House luxury hotel…

Eyebrows raised at US tax deal rumours

This content was published on Jun 10, 2011 Rumours are circulating that Swiss and European banks will be invited to join a voluntary disclosure scheme that would inflict fines and the handover of client data in return for the US authorities dropping legal action. The US tax collection agency, the Internal revenue Service (IRS), scored a direct hit on UBS two years ago…

Rare stamps fetch big money

This content was published on Jun 10, 2011 The stamp, which was printed erroneously in blue instead of orange, was the centre piece of the four-day auction by Galerie Dreyfus which ended on Friday. It had been expected to fetch between €1 and 1.2 million. According to the auction house catalogue, there are only two known examples of this error of colour; the…

Bringing the alpine cows home

This content was published on Jun 10, 2011 But contrary to popular myth, this work is no longer the province of a bearded Swiss toiling in the mountains. Increasingly, alpine herding is being taken on by people from neighbouring countries, who now account for about a third of the workforce. Sarah Fasolin, a Swiss who spent three summers between 2003 and 2008 working…

Credit Suisse fined $356 million

This content was published on Jun 10, 2011 STMicroelectronics said that this fully settled all outstanding litigation in connection with auction rate securities. The amount includes losses and costs associated with the court case. In a statement on Thursday, STMicroelectronics said it expected to book a pre-tax profit of approximately $329 million in the income statement of the second quarter of 2011 as…

Swiss and US hold tax settlement talks

This content was published on Jun 10, 2011 Three current and former US government officials briefed on the matter told Reuters news agency how the deal would let several Swiss and European banks join a common settlement and avoid potential US prosecution for helping wealthy Americans dodge taxes. The sources spoke on Thursday on condition of anonymity, citing the wide-ranging investigation of Swiss…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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EXHIBITION: How watchmaking conquered the world

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Strong franc leading to slower growth

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Rolling stock unlikely cause of Simplon fire

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Zurich airport should be enlarged

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Italy complains over Bilderberg incident

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Eyebrows raised at US tax deal rumours

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Rare stamps fetch big money

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Bringing the alpine cows home

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Credit Suisse fined $356 million

More

Swiss and US hold tax settlement talks

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