Archive – Banking & Fintech

Transocean issues bonuses for “best” safety

This content was published on Apr 3, 2011 The explosion at the rig last April killed 11 people and spilled 757 million litres of oil into the Gulf of Mexico – the worst oil spill in United States history. The company said in a regulatory filing with the US Securities and Exchange Commission that its most senior managers were given two thirds of their…

Baselworld closes doors after eventful week

This content was published on Apr 1, 2011 There was drama at this year’s eight-day show after a walk-in diamond theft on Wednesday shocked participants and visitors alike. Four diamonds worth millions of francs were taken from a showcase when the diamond dealer was distracted at around 11am, according to Basel authorities. The building was shut down as soon as the theft was…

Swiss Post delivers record result

This content was published on Mar 31, 2011 The company said the “excellent set of results” were driven by all its market sectors, but that financial services arm PostFinance had performed particularly well. “Key factors contributing to the improvement in earnings included the increase in customer deposits, optimisation measures and higher parcel volumes,” Swiss Post said in a statement on Thursday. At SFr571…

Lötschberg tunnel celebrates 100 years

This content was published on Mar 31, 2011 The high point of the construction of the 14.6-kilometre alpine tunnel joining the cantons of Bern and Valais will be celebrated on Thursday by a symbolic train journey by dignitaries and representatives of the company BLS. The breakthrough on March 31, 1911, was an engineering triumph. Despite an accident in 1908 which forced an 800-metre…

Heads roll at Sonova after share sale debacle

This content was published on Mar 30, 2011 Chairman Andy Rihs denied accusations of insider trading, but demoted himself to a lesser role on the board. Chief executive Valentin Chapero and chief financial officer Oliver Walker resigned and will leave the company. The exodus of top brass followed a breakdown of communication between executives and board members that had damaged Sonova’s reputation, the…

Rail passengers grow while earnings dip

This content was published on Mar 30, 2011 Passenger numbers were up six per cent to 347 million in 2010, with profits from passenger services rising from SFr280.6 million ($304.8 million) to SFr292.6 million. The cargo division also saw a 12 per cent rise in transported merchandise. Despite this, earnings fell to SFr298.3 million in 2010 as a result of investment in the…

Four diamonds stolen at Baselworld

This content was published on Mar 30, 2011 A diamond dealer was distracted and the jewels were taken from a showcase at around 11am on Wednesday, according to Basel authorities. The building was shut down as soon as the theft was noticed and no one could leave for half an hour, but the thieves managed to get away. An investigation was launched immediately.…

Trade access improved for developing countries

This content was published on Mar 30, 2011 Like other developed countries, Switzerland grants tariff preferences to developing countries via its generalised system of preferences (GSP). Since its most recent revision in 2007, Swiss GSP enables least-developed countries (LDCs) to export their products tariff- and quota-free to Switzerland. In a statement on Wednesday, the government said the revised ordinance – which aims to…

Resignations at Sonova after suspect trades

This content was published on Mar 30, 2011 Sonova said that in the run-up to the profit warning issued on March 16, it had failed to issue a timely internal blackout period for trading in its shares and options. “As a result of this failure, there were trades that should not have taken place during that period. In addition, Sonova issued its profit…

Migros reports flat sales in 2010

This content was published on Mar 29, 2011 The group, which is best known for the supermarket chain of the same name, but which also owns travel agencies, fuelling stations and banks, reported a 0.4 per cent increase in yearly sales to SFr25.04 billion ($27.16 billion). Annual profits rose by SFr5.3 million, or 0.9 per cent, to SFr581.6 million. Announcing the results, Migros…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Transocean issues bonuses for “best” safety

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Baselworld closes doors after eventful week

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Swiss Post delivers record result

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Lötschberg tunnel celebrates 100 years

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Heads roll at Sonova after share sale debacle

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Rail passengers grow while earnings dip

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Four diamonds stolen at Baselworld

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Trade access improved for developing countries

More

Resignations at Sonova after suspect trades

More

Migros reports flat sales in 2010

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