Archive – Banking & Fintech

UBS ponders moving businesses from Switzerland

This content was published on Feb 8, 2011 The Swiss bank could relocate its risky investment banking operations to a more relaxed regulatory environment if proposed Swiss rules are significantly more stringent. The proposals were aired as UBS announced its first full year of profits since 2006. UBS chief executive Oswald Grübel complained on Tuesday that in the future there would probably be…

Chocolate industry experiences recovery

This content was published on Feb 8, 2011 Chocosuisse, the umbrella organisation of 18 manufacturers, reported on Tuesday that sales went up by 2.5 per cent to SFr1.74 billion ($1.82 billion), while the quantity produced increased 1.3 per cent to 176,424 tons. In a statement, the Bern-based organisation said that of total production, 60.4 per cent was sold abroad compared with 60.7 per…

Givaudan profit for 2010 has sweet smell

This content was published on Feb 8, 2011 However, the Geneva-based company warned that it expected an “overall strong raw material price increase” this year and indicated product price rises. Total sales were SFr4.24 billion in 2010, a rise of 7.1 per cent in Swiss francs. Givaudan reported that sales in the fragrance division totalled almost SFr2 billion (up nine per cent), while…

Happy hour at Swatch after record profit

This content was published on Feb 8, 2011 The Biel-based group, which is best known for its colourful plastic Swatch watches but also owns higher-end brands such as Breguet, Blancpain and Omega, coped well with the economic downturn and strong franc as customers, particularly in China, continued to splash out on watches. “Prospects remain good for the year as a whole, despite the…

UBS result shows there is room for improvement

This content was published on Feb 8, 2011 Net profit for the year as a whole was SFr7.2 billion ($7.55 billion) compared with a loss of $2.7 billion in 2009. It is the first time the bank has been in the black since 2006. UBS reported in a statement that net profit in the fourth quarter of 2010 was SFr1.29 billion, with net…

Swiss franc a magnet in times of strife

This content was published on Feb 7, 2011 The Swiss franc, or “Swissie” as it is known by traders, first gained a reputation as a safe haven currency after the First World War. But will it continue to attract investors in times of economic hardship? The fundamental reasons behind the attractiveness of the franc as a safe haven are much the same now…

Julius Bär reports strong 2010

This content was published on Feb 7, 2011 The bank on Monday said it had been able to increase net profit by six per cent to SFr503.9 million and attract SFr9 billion net new money in 2010, even as the franc’s unprecedented strength against the euro ate into client assets and profitability. Julius Bär, which in May completed the integration of Swiss private…

Green revolution reaches laboratories

This content was published on Feb 4, 2011 Underlying this move towards “green chemistry” are ethical, ecological and economical considerations – and concern for firms’ corporate image. Chemistry is the science of transforming matter by creating new molecules. These form the basis of our medicines, our clothes, our food and drink and a host of things that have become so commonplace that people…

Care worker abuse case begs questions

This content was published on Feb 3, 2011 Prevention and control practices are now under the spotlight as those concerned ask how this level of abuse could have gone undetected for so long. The 54-year-old man been has admitted abusing more than 100 children and adults with physical and mental disabilities. Evidence against the man includes photos and hours of video in which…

Foreign trade recovers in 2010

This content was published on Feb 3, 2011 Despite this, both import and export figures were still SFr13 billion ($13.8 billion) off their record level of 2008. Furthermore, exporters were forced to drop their prices due to the strong Swiss currency. Total exports rose to SFr193.3 billion, with eight out of ten leading export sectors seeing their revenues increase. The biggest recovery was…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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UBS ponders moving businesses from Switzerland

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Chocolate industry experiences recovery

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Givaudan profit for 2010 has sweet smell

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Happy hour at Swatch after record profit

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UBS result shows there is room for improvement

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Swiss franc a magnet in times of strife

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Julius Bär reports strong 2010

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Green revolution reaches laboratories

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Care worker abuse case begs questions

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Foreign trade recovers in 2010

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