Archive – Banking & Fintech

Nestlé creates new bond between food and pharma

This content was published on Sep 27, 2010 The company, which is based at Vevey on Lake Geneva, said on Monday it was creating two separate organisations to develop personalised health science nutrition. It would invest “hundreds of millions of francs” over the next decade to build a world-class Nestlé Institute of Health Sciences to research nutritional strategies to improve health and longevity.…

Former Nespresso guru takes on his “baby”

This content was published on Sep 24, 2010 Brushing aside Nestlé’s legal threats, Gaillard said his Ethical Coffee Company (ECC) will increase production with a new factory in Switzerland after recently receiving a €50 million (SFr66 million) investment boost. Canton Valais-born Gaillard was credited with turning around Nestlé’s coffee capsule business when he served as chief executive of Nespresso from 1988 until 1998.…

Franc hits 30-month high against dollar

This content was published on Sep 24, 2010 A currency trader told the Reuters news agency that disappointing economic data from the US and Europe had revived fears among investors. However, in its quarterly bulletin published on Friday, the Swiss National Bank said that more than half the companies it surveyed in July and August reported that the strong franc had not had…

Expo pavilion hangs on despite shut chairlift

This content was published on Sep 24, 2010 The Expo finishes in less than a month. It being the 60th anniversary of the establishment of Swiss-Sino diplomatic ties, Switzerland had a strong presence at the Expo. The chairlifts at the Swiss pavilion were meant to “demonstrate once again that Switzerland not only excels in chocolate, cheese and watches, but more importantly is able…

Regulators red faced as Vekselberg acquitted

This content was published on Sep 23, 2010 A court ruled that there was no proof to justify record SFr40 million ($40.6 million) fines levied by the Swiss finance ministry for each of the trio after the takeover of industrial company Oerlikon. The reputation of the finance ministry was further battered by its failure to send a lawyer to the two-day hearing in…

Russian billionaire Vekselberg acquitted

This content was published on Sep 23, 2010 The federal criminal court in Bellinzona announced on Thursday that Vekselberg and his associates had not violated stock exchange rules when they acquired shares in Oerlikon in 2006. Last December the three men had been found guilty by the Swiss finance ministry of secretly – and illegally – conspiring to take over Oerlikon by breaching…

Roche sued by British rival

This content was published on Sep 22, 2010 According to GlaxoSmithKline, Roche Holding infringes patents issued in 2008 and 2010 covering antibody purification when it produces its cancer drug Herceptin. Roche, and its United States business Genentech, infringe the patent by “making and/or having made therapeutic antibody products, including without limitation Herceptin,” the complaint said. Glaxo is demanding damages to compensate for violations…

Exports helped by watches but not by franc

This content was published on Sep 21, 2010 The Federal Customs Administration said total exports had fallen by more than SFr2 billion from July but were helped by positive developments in the watch sector. The value of exports from the Swiss watchmaking industry rose by almost a quarter from August last year to SFr1.07 billion in what was described by the sector as…

New cars put brakes on CO2 reduction

This content was published on Sep 21, 2010 The SonntagsZeitung newspaper revealed this week that in 2009 the average C02 emissions of new cars bought in Switzerland were higher than in its neighbours. Not only that, but Switzerland is not managing to reduce these levels as quickly as the EU is doing. In France, the average new car produced only 133 grams per…

Airline chairman Jetzer dies while out hiking

This content was published on Sep 20, 2010 Jetzer joined the board of Swiss in 2004 before the airline was taken over by Germany’s Lufthansa. He was elected chairman in 2005. A Swiss statement on Monday said that during his time he had “devoted unstinting energy and commitment to the airline’s positive development”. The vice-chairman, Walter Bosch, will provisionally take over as chairman.…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Nestlé creates new bond between food and pharma

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Former Nespresso guru takes on his “baby”

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Franc hits 30-month high against dollar

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Expo pavilion hangs on despite shut chairlift

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Regulators red faced as Vekselberg acquitted

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Russian billionaire Vekselberg acquitted

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Roche sued by British rival

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Exports helped by watches but not by franc

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New cars put brakes on CO2 reduction

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Airline chairman Jetzer dies while out hiking

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