Archive – Banking & Fintech

A touch of glamour

This content was published on Oct 25, 2010 The company’s fabrics were beloved by Haute Couture designers such as Yves Saint Laurent and Cristobal Balenciaga. Its success was largely down to its director Gustav Zumsteg, a man of vision and drive, but the firm did not outlive him. Abraham’s archive is now on show at the Swiss National Museum. (Images: Swiss National Museum)

US wants to throw out case against UBS

This content was published on Oct 24, 2010 UBS, which paid a penalty of $780 million in February 2009, had admitted it helped wealthy US clients evade taxes. In a filing in the US district court in Fort Lauderdale, Florida, prosecutors said UBS had complied with an 18-month accord to defer prosecution, after helping roughly 17,000 clients with $20 billion of assets hide…

Nestlé posts strong third quarter

This content was published on Oct 22, 2010 The company said on Friday that there was growth across the board, but in particular there had been strong demand in emerging markets and its thriving Nespresso coffee business. Sales at Nestle’s core food and beverages unit – which makes Nescafé coffee, KitKat chocolate bars and Maggi soups – were up SFr77 billion. The figures…

Law complicates hunt for online paedophiles

This content was published on Oct 22, 2010 A new federal code that bans certain types of undercover investigations takes effect in 2011. When it does, police say they will have to wait until a child becomes a victim before they can act—an “absolutely unacceptable” situation. “Paedophiles are in chatrooms all the time, that’s a fact unfortunately,” Thomas Werner, an officer with the…

Tax deal with Germany outlined

This content was published on Oct 21, 2010 The details could be finalised by the end of the month according to Michael Ambühl, a top Swiss negotiator for international financial matters. “There are no concrete figures yet but we have agreed with Germany on principles and formulas which have to be fleshed out in negotiations,” Ambühl said in Thursday’s Tages-Anzeiger newspaper. Ambühl said…

Smaller private banks tipped to struggle

This content was published on Oct 21, 2010 The Swiss wealth management industry is being squeezed by the global crusade against tax evasion, the growing cost of regulatory compliance and shrinking profits as investors exercise more caution. Swiss banks suffered the same as competitors around the world during the financial crisis, with the pool of assets under management shrinking by nearly a fifth…

Recovery continues at Oerlikon

This content was published on Oct 21, 2010 Compared with the same period of the previous year, order intake during the first nine months of 2010 rose 39 per cent to 3.2 billion – despite a negative impact by currency exchange rates of SFr131 million. Oerlikon manufactures a range of products from coating used in Formula One racing cars to machines used to…

Novartis profit rises to $3.15 billion

This content was published on Oct 21, 2010 The $3.15 billion (SFr3.04 billion) net profit is up from $2.68 billion in the same period of 2009. The Basel-based company said sales had increased 13 per cent to $12.6 billion from $11.1 billion a year earlier. Novartis said sales and earnings would have been higher if not for the weak US dollar. The company…

Credit Suisse profit drops on sluggish trading

This content was published on Oct 21, 2010 This is a 74 per cent drop from the SFr2.35 billion net profit it reported in the same period of 2009 and far below analysts’ expectations. The Zurich-based bank said on Thursday that given “challenging conditions” the results were “solid” and forecast higher returns as markets improve. Investment banking pre-tax income fell to SFr395 million…

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This content was published on Oct 20, 2010 350 Characters

Archive – Banking & Fintech

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Archive – Banking & Fintech

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A touch of glamour

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US wants to throw out case against UBS

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Nestlé posts strong third quarter

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Law complicates hunt for online paedophiles

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Tax deal with Germany outlined

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Smaller private banks tipped to struggle

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Recovery continues at Oerlikon

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Novartis profit rises to $3.15 billion

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Credit Suisse profit drops on sluggish trading

More

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