Archive – Banking & Fintech

Actelion offers sweetener to stave off attacks

This content was published on Feb 18, 2011 The Swiss drug maker has come under increasing recent pressure from shareholder activists to remove chief executive and founder Jean-Paul Clozel from his post and submit to a takeover from a larger company. The Allschwil-based firm announced increased 2010 sales and profits on Thursday but fell short of analyst expectations. The company has suffered a…

ABB to cut more costs as income falls in 2010

This content was published on Feb 17, 2011 Sales at the group, which makes power equipment and industrial robots, also dropped slightly, down one per cent to $31.6 billion. But net profit for the fourth quarter was up 30 per cent at $700 million. In a statement from its Zurich headquarters, ABB said it planned to further reduce costs this year by more…

Let the chemical games begin!

This content was published on Feb 17, 2011 swissinfo.ch dodged the (controlled) chemical explosions in Bern on Tuesday and spoke to a Nobel Prize winner, the secretary of state for education and research and a top female scientist about the importance and their love of chemistry. “It’s the surprises,” Richard Ernst, who was awarded the Nobel Prize in Chemistry in 1991 for work…

Swiss Re profit fails to meet market forecasts

This content was published on Feb 17, 2011 The company said in a statement on Thursday that it made a net loss for the fourth quarter after repaying an emergency loan it had received from United States billionaire Warren Buffett during the credit crisis. Swiss Re in November agreed to repay ahead of schedule a SFr3 billion loan from Buffett’s Berkshire Hathaway company.…

Nestlé records strong set of figures in 2010

This content was published on Feb 17, 2011 The company, which has its headquarters at Vevey in western Switzerland, said on Thursday it had sales of SFr107.9 billion ($114.3 billion), with organic growth of 6.2 per cent. Net profit was SFr34.2 billion which took into consideration the sale of its remaining stake in eyecare group Alcon to Novartis of Basel. During the year…

Goliath bourse could weigh on Swiss exchange

This content was published on Feb 17, 2011 The Swiss SIX Group would have to react to the creation of a new giant exchange by either diversifying its activities further or by sacrificing its independence, according to experts. On Tuesday, the New York Stock Exchange (NYSE Euronext) and the German Börse agreed terms for a ground breaking fusion. The deal marks the latest…

Tourism promotion efforts receive a boost

This content was published on Feb 16, 2011 The economics ministry said on Wednesday it would allocate an additional SFr12 million ($12.35 million) to promote the tourism industry in 2011 and 2012. The government’s innovation promotion agency has been allocated SFr 20 million to further support the export sector. The franc gained 12 per cent against the euro in 2010 and five per…

Helma Wennemers

This content was published on Feb 16, 2011 Helme Wennemers

Clariant posts surprise profit

This content was published on Feb 16, 2011 Clariant, based at Muttenz near Basel, on Wednesday posted a fourth-quarter net profit of SFr47 million ($48.8 million). A Reuters poll had predicted a net loss of SFr5.4 million. The group, which makes products that end up in a variety of goods, from shampoos to tyres and flat screen televisions, said it was looking forward…

Switzerland to step up tax cooperation

This content was published on Feb 15, 2011 Under renewed pressure from the OECD (Organisation for Economic Co-operation and Development), Switzerland will no longer necessarily demand the name and address of the person and bank concerned. The Swiss practice is currently being examined by international experts under a peer review, the first stage of which will end in June. Finance Minister Eveline Widmer-Schlumpf…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Actelion offers sweetener to stave off attacks

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ABB to cut more costs as income falls in 2010

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Let the chemical games begin!

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Swiss Re profit fails to meet market forecasts

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Nestlé records strong set of figures in 2010

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Goliath bourse could weigh on Swiss exchange

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Tourism promotion efforts receive a boost

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Helma Wennemers

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Clariant posts surprise profit

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Switzerland to step up tax cooperation

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