Archive – Banking & Fintech

SBC narrows deficit in 2010

This content was published on Apr 13, 2011 The SBC, swissinfo’s parent company, said the better result was due to savings and efficiency measures, as well as more commercial revenue. Working in its favour were higher spending on advertising, cuts to IT and distribution costs, and the end of adjustments to the pension fund. The SBC said, however, that as the economic situation…

Three hurt in roof fall at Libeskind landmark

This content was published on Apr 13, 2011 Around 1,000 people had to be evacuated from the Bernaqua spa complex on Tuesday evening, a spokeswoman said. One of the three injured had to be taken to hospital after part of the roof fell down. An evacuation was carried out for safety reasons, she added. The cause of the accident is not yet known…

UBS fined over Lehman misselling

This content was published on Apr 12, 2011 The Financial Industry Regulatory Authority (Finra) said the Swiss bank agreed to pay a $2.5 million fine and reimburse its customers $8.25 million. UBS did not admit or deny any wrongdoing in agreeing to settle. Finra said UBS and its brokers failed between March and June 2008 to emphasise that payment was not guaranteed on…

Transocean sets new sea drilling world record

This content was published on Apr 12, 2011 The offshore drilling rig, which is owned by a joint venture with Quantum Pacific Group, has been working for Reliance Industries off India’s coast for the past year under a five-year contract, Transocean said. The vessel is equipped to work in water depths of up to 3,650 metres and outfitted to construct wells up to…

Money laundering trial follows political drama

This content was published on Apr 11, 2011 The federal court in Bellinzona is hearing claims that the Zurich private banker helped French energy group Alstom set up multi-million dollar slush funds to bribe foreign officials. The charges also include bribery, falsifying documents and mismanaging client assets. Holenweger opened his defence by asking for the case to be dropped on the grounds that…

Help wanted in the Swiss finance branch

This content was published on Apr 11, 2011 The number of available jobs has risen by 23 per cent since last year, according to a job index published by finance portal “finews.ch” on Monday. As of the end of March, 4,312 open positions were advertised on the website, which features job listings from 1,400 banks, insurance companies and other finance-related firms. There were…

Strong franc costs Swatch Group SFr150 million

This content was published on Apr 10, 2011 But CEO Nick Hayek says price rises are not the appropriate method of dealing with the currency problem. “We’ve decided to raise prices moderately by four to six per cent in certain countries and with specific brands,” he told the NZZ am Sonntag newspaper, adding that a price spiral would be “counterproductive”. Hayek also said…

Market leaders battle to protect brands

This content was published on Apr 10, 2011 The companies are fighting legal battles on several fronts in an effort to keep their products exclusive. This struggle is a common but unwanted side effect of success in a hyper-competitive market, according to brand consultant Peter Lux. “Brand protection is a growing activity of all companies which have, or believe they have, something to…

Inquiry opens into Sonova share sell-off

This content was published on Apr 8, 2011 Three top managers resigned after the firm admitted mistakes leading up to a profit warning that was preceded by a huge share sell-off. Chairman Andy Rihs denied accusations of insider trading. The prosecutor has already questioned various people about the sale and has asked Sonova to provide documents. The board of directors said it was supporting…

Celebrating the Swiss behind Chevrolet

This content was published on Apr 8, 2011 Louis-Joseph Chevrolet, born in 1878 in the western Swiss town of La Chaux-de-Fonds, was hailed as a brilliant car designer and daredevil racer but he died in relative obscurity and never made a fortune. “Just look at how old it is,” two children perched on their small scooter remark as they look at a Chevrolet…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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SBC narrows deficit in 2010

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Three hurt in roof fall at Libeskind landmark

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UBS fined over Lehman misselling

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Transocean sets new sea drilling world record

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Money laundering trial follows political drama

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Help wanted in the Swiss finance branch

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Strong franc costs Swatch Group SFr150 million

More

Market leaders battle to protect brands

More

Inquiry opens into Sonova share sell-off

More

Celebrating the Swiss behind Chevrolet

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Most Discussed