Archive – Banking & Fintech

UBS defends criticism of banking laws

This content was published on Apr 28, 2011 At the bank’s annual general meeting in Basel on Thursday, UBS chairman Kaspar Villiger said the bank wasn’t threatening to pull some of its business out of Switzerland, but he pointed to consequences if the country went it alone for a long period of time. He rejected the argument that UBS wasn’t in a position…

Sales dip hits Logitech figures

This content was published on Apr 28, 2011 The company, which has its headquarters in Morges on Lake Geneva, reported making $128.4 million (SFr111.9 million) in net profit for the year, compared with $64.9 million in the previous year. It had expected a higher growth but experienced a 17 per cent dip in sales in the second half of the fourth quarter in…

Johnson & Johnson to take over Synthes

This content was published on Apr 27, 2011 “DePuy [Johnson & Johnson subsidiary] and Synthes together will create the most innovative and comprehensive orthopaedics business in the world,” a joint statement from the two companies said. A deal had been anticipated after Synthes confirmed last week following rumours that it was in talks with Johnson & Johnson. Synthes, which posted sales of $3.7…

J&J to take over Synthes

This content was published on Apr 27, 2011 The United States healthcare group will pay SFr159 in cash and stock for each Synthes share, which is a premium of 8.5 per cent over Synthes’ closing share price on Tuesday. A deal had been anticipated, after Synthes said on April 18 it was in talks with J&J. The acquisition, which is expected to be…

Credit Suisse reports record first quarter

This content was published on Apr 27, 2011 The result helped it gain market share although the strong franc hit profits. Chief Executive Brady Dougan said in a statement on Wednesday he was particularly pleased that his investment in fixed income trading had begun to bear fruit in the quarter. “We have substantial momentum across all of our client based businesses and we…

Swiss Post expands in the United States

This content was published on Apr 26, 2011 The subsidiary is active in the area that interfaces between physical and electronic post services, offering outsourcing and information logistics solutions. But not all is going smoothly: Swiss Post faces legal action in both the US and Switzerland from a California-based company, RPost, for allegedly infringing several of its patents on secure emails. Nevertheless, the…

Swiss exports continue to grow

This content was published on Apr 26, 2011 During the first quarter of 2011, Swiss exports went up by 5.8 per cent for a total value of SFr50 billion ($56.88 billion). The growth trend continues despite the strong Swiss franc. This increase is roughly the same as that in the third and fourth quarters of last year, the Federal Customs Administration announced on…

Swiss SMEs are small but international

This content was published on Apr 26, 2011 In both cases, the logic is the same. Firstly, the domestic market is too small. Secondly, much of the demand comes from abroad. And thirdly, Switzerland’s economic interaction with the European Union has made access to European markets much easier for small and medium sized enterprises (SMEs). “Size, therefore, has relatively little to do with…

UBS records a profitable first quarter

This content was published on Apr 26, 2011 As the bank announced on Tuesday, it made a net profit of SFr1.8 billion ($2.03 billion) in the first quarter of this year. That’s 18 per cent less than a year ago, but still seven per cent more than in the final quarter of 2010. The net inflow of new money from January to March…

Holenweger acquitted of money laundering

This content was published on Apr 21, 2011 Eight years after Holenweger was first arrested on charges of laundering money for South American drug cartels, the Federal Criminal Court in Bellinzona on Thursday cleared him of all charges, which also included bribery, falsifying documents and mismanaging client assets. The Bellinzona court awarded Holenweger SFr420,000 ($476,730) in compensation. Prosecutors said during the trial that…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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UBS defends criticism of banking laws

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Sales dip hits Logitech figures

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Johnson & Johnson to take over Synthes

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J&J to take over Synthes

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Credit Suisse reports record first quarter

More

Swiss Post expands in the United States

More

Swiss exports continue to grow

More

Swiss SMEs are small but international

More

UBS records a profitable first quarter

More

Holenweger acquitted of money laundering

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