Archive – Banking & Fintech

New car sales accelerate

This content was published on Aug 17, 2010 Figures from the Swiss Automobile Imports’ Association show that since the beginning of the year, a total of 16,256 more cars have been sold than in the previous period last year when sales plummeted as a result of the financial crisis. The association noted that 174,033 cars were sold since January, not quite reaching the…

Oerlikon says it is on the way to recovery

This content was published on Aug 17, 2010 It managed to almost halve its loss in the first half to SFr50 million ($47.5 million) from SFr99 million a year ago, according to figures released by the group on Tuesday. Oerlikon, which is active in the solar, vacuum and coating technologies as well as the textile industry, said it hoped to reach operational break…

Alcon vote takes Novartis closer to buyout

This content was published on Aug 16, 2010 Major shareholders of Alcon on Monday backed five directors put forward by the Basel-based pharmaceutical giant, giving Novartis a majority on Alcon’s board of directors. The nominations will come into effect once Novartis has completed its acquisition of a 52 per cent controlling stake held by food giant Nestlé. The remaining transaction has been approved…

Swiss prices soar over EU neighbours

This content was published on Aug 16, 2010 According to an international price comparison index published by the Federal Statistics Office, buying meat, cooking oil, fish and other food items in Switzerland became significantly more expensive last year compared with what you could get for the same amount of money in neighbouring countries. It is not that goods and services in Switzerland became…

Cocoa price spike hits chocolate industry

This content was published on Aug 16, 2010 Cocoa prices hit a 30-year high in July and are expected to remain that way in the near future. Swiss chocolate producers are crying foul over one hedge fund that has stockpiled cocoa, helping to drive up its value. The Armajaro hedge fund is thought to have cornered some seven per cent of global cocoa…

Officials block Transocean dividend payments

This content was published on Aug 14, 2010 The commercial register of canton Zug blocked the application citing the numerous lawsuits pending against Transocean in the United States. Founded in the US, the offshore drilling contractor has been headquartered in Zug since 2008. In a company statement released on Friday, Transocean said it believed that all prerequisites for the payment plans had been…

Trade deal with China comes a step closer

This content was published on Aug 14, 2010 Doris Leuthard was speaking to journalists in Beijing after a meeting with her Chinese counterpart, Hu Jintao, and the signing of a memorandum of understanding which opens the way to talks on an FTA. “It is almost a historic day,“ a delighted Leuthard told them. Hu had said he was ready to accept the findings…

Bern and Beijing set to negotiate trade accord

This content was published on Aug 13, 2010 The document was initialed in Beijing on Friday in the presence of Swiss Economics Minister Doris Leuthard and the Chinese head of state Hu Jintao. A Swiss government statement said that both had approved the findings of a feasibility study for such an agreement. A joint study group found that the economies of Switzerland and…

Euro investments push central bank into red

This content was published on Aug 13, 2010 The bank’s first-half figures were affected by valuation losses in investments in euros, carried out to try to prevent the strong Swiss franc from further appreciation. Total exchange rate losses for the period totalled SFr14.3 billion. In a statement on Friday, the bank said the extent of the loss was limited by the rise in…

Furka steam railway line reopens to fanfare

This content was published on Aug 12, 2010 The successful revival of the Furka Cogwheel Steam Railway is a tribute to the persistence of thousands of train buffs, who volunteered time and money to resurrect the route. “This is a fantastic moment,” exclaimed Peter Bernhard, manager of the railway, at the start of three days of celebrations. The first train to make the…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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New car sales accelerate

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Oerlikon says it is on the way to recovery

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Alcon vote takes Novartis closer to buyout

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Swiss prices soar over EU neighbours

More

Cocoa price spike hits chocolate industry

More

Officials block Transocean dividend payments

More

Trade deal with China comes a step closer

More

Bern and Beijing set to negotiate trade accord

More

Euro investments push central bank into red

More

Furka steam railway line reopens to fanfare

Popular Stories

Most Discussed