Archive – Banking & Fintech

Life at the tunnel face

This content was published on Oct 1, 2010 Austrian father-of-three Gerhard Fürpass, aged 45, is one of them and he tells swissinfo.ch about the highs and lows of working on the massive underground project. “I have been a tunnel miner for 25 years. Since 2002 I have been working on the AlpTransit construction site at the Gotthard Base Tunnel, first in Bodio and…

Novartis to pay high price after US probe

This content was published on Sep 30, 2010 As part of the settlement its US subsidiary, Novartis Pharmaceuticals Corporation, will plead guilty to one violation of misbranding under the US Food, Drug and Cosmetic Act and pay a fine of $185 million for Trileptal. The remainder is to resolve civil allegations, Zane Memeger, the US Attorney for the Eastern District of Pennsylvania, told…

UBS announces no dividends for some time

This content was published on Sep 30, 2010 The Basel Committee on Banking Supervision said it will require lenders to have common equity capital equal to at least 4.5 per cent of assets and will introduce an additional 2.5 per cent buffer. Europe’s largest wealth manager by assets said on Thursday it had no plans to raise capital but would take steps to…

ABB pays dearly for alleged kickbacks

This content was published on Sep 30, 2010 ABB was accused of paying kickbacks to secure contracts in two separate cases in Iraq and Mexico between 1999 and 2004. The firm neither admitted nor denied the charges, but said it was tightening up compliance procedures. The US regulator, the Securities and Exchange Commission (SEC), alleged that ABB made illegal payments of at least…

Swiss raises bar with fleet and jobs expansion

This content was published on Sep 28, 2010 The additions to the fleet from 2012 will create 2,000 new jobs in Switzerland, around a third of them directly at Swiss. The airline that was forced to shrink shortly after its creation in 2002 is now growing again. The new aircraft will eventually boost the fleet to 90. The airline industry as a whole…

New cars boost UBS consumption indicator

This content was published on Sep 28, 2010 As in the previous month the rise had a broad base, but the number of new car registrations was particularly strong: 11.9 per cent more cars were registered in August compared with the previous year. In a statement on Tuesday, UBS said low interest rates and an improvement in the labour market, as well as…

Nestlé to expand medical nutrition business

This content was published on Sep 27, 2010 Nestlé says it will invest around $500 million (SFr491 million) over the next decade in the sector. However, analysts say the multinational will have a tough time overcoming regulatory hurdles and having its products meet expectations. The firm said on Monday that it hopes to “pioneer a new industry between food and pharma” through the…

Wolseley aims to save tax with Swiss move

This content was published on Sep 27, 2010 It is the latest in a growing number of firms to leave their British base in search of tax savings. The firm said on Monday it would create a new group holding company, New Wolseley, that will be listed in Britain, incorporated in Jersey and with Swiss tax residency. “Our underlying tax rate has now…

British tax evasion probe targets HSBC clients

This content was published on Sep 27, 2010 It follows HM Revenue and Customs’ acquisition of a list of wealthy British clients of HSBC that was stolen by a former bank employee, the BBC reported. Hundreds of letters have been sent by the British authorities advising recipients that they are suspected of illegal tax evasion. The bank is reportedly not accused of any…

Do-it-yourself chocolate hits cyberspace

This content was published on Sep 27, 2010 Myswisscholate.ch has tapped into the growing demand for bespoke products, the power of online networking and the allure of money saving incentives to combine a number of tried and tested business concepts. While the company is not the first to offer custom made chocolate bars, it added a new twist this month with the creation…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Life at the tunnel face

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Novartis to pay high price after US probe

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UBS announces no dividends for some time

More

ABB pays dearly for alleged kickbacks

More

Swiss raises bar with fleet and jobs expansion

More

New cars boost UBS consumption indicator

More

Nestlé to expand medical nutrition business

More

Wolseley aims to save tax with Swiss move

More

British tax evasion probe targets HSBC clients

More

Do-it-yourself chocolate hits cyberspace

Popular Stories

Most Discussed