Archive – Banking & Fintech

Bear kills four sheep in Graubünden

This content was published on Jun 23, 2010 It killed four members of a group grazing in the lower Engadine in the early hours of Tuesday morning. The bear ate one sheep completely plus portions of two others, according to Hannes Jenny, a biologist with the Graubünden hunting and fishing office. The fourth lay intact. The herd, which had numbered about 60 animals,…

Cheese expects competitive squeeze to harden

This content was published on Jun 23, 2010 Overseas sales of Swiss cheeses flew in the face of the strengthening franc by increasing yet again in the first quarter of this year. But this rate is expected to drop and the domestic market is becoming more crowded. Cheese has been flying the flag for Switzerland’s beleaguered export industry for some time. Last year,…

Moonlighting sanctions increase

This content was published on Jun 22, 2010 The number of sanctions, mostly fines, against people violating a new law that came into force in 2008 also increased over the same period, from 1,323 to 1,733. This showed that the cantons exercised increasing power against moonlighting and that an awareness campaign had been effective, according to the State Secretariat for Economic Affairs (Seco)…

Tourist spending hit by downturn in 2009

This content was published on Jun 22, 2010 Foreign tourists coming to Switzerland spent SFr15 billion ($13.5 billion) – a drop of 3.8 per cent compared with 2008, according to provisional figures from the Federal Statistics Office. Swiss travelling abroad also tightened their belts, spending SFr11.5 billion (-2.4 per cent). It resulted in the first fall in the Swiss tourism balance of payments…

Warm 2009 pushed down energy consumption

This content was published on Jun 22, 2010 A news release by the Federal Energy Office on Tuesday showed the reasons for this fall in consumption were the warmer weather and weaker economy. The economic downturn meant that gross domestic production declined by 1.5 per cent over 2008. Because of these two factors, the 1.1 per cent growth in the population mean and…

Transocean enters Swiss top share index

This content was published on Jun 21, 2010 Shares opened 2.5 per cent higher at SFr60.60 ($53.13) at 9.30 am on Monday. The Zug-based firm started trading on the Swiss stock exchange (SIX) on April 20, which happened to be the same day that an explosion on the Transocean-owned Deepwater Horizon oil rig claimed 11 lives and has caused massive pollution. The SIX…

Manager-employee salary gap still growing

This content was published on Jun 21, 2010 In a study published on Monday, the organisation said the difference in salaries had widened by 18 per cent in 2009, and by 70 per cent since 2002. “The constant rise in managers’ pay puts at risk the Swiss model of economic success, which is based on trust, decency and a functioning social partnership,” says…

Brewing coffee war gathers steam

This content was published on Jun 20, 2010 The exact nature of the patent infringement suit to protect the Nespresso coffee brand against an imitation from the Sara Lee Corporation is not yet known. But experts believe the battle could have profound consequences for companies and consumers. Nestlé filed the action claiming that Sara Lee should not be allowed to sell its coffee…

Firms and consumers cash in on football win

This content was published on Jun 19, 2010 On Thursday supermarket chain Migros came good on a promise to offer customers a ten per cent discount on all products the day after the victory. Other companies have also offered special promotions based on the football team’s success. Migros customers scored a result of their own with the “win premium” saving on groceries, furniture,…

KOF sees hurdle for economic upturn

This content was published on Jun 18, 2010 The institute predicts growth at a rate of 1.8 per cent this year, with private consumption and foreign trade accounting for most of it. Yet KOF expects slightly weaker GDP growth (1.6 per cent) in 2011. It attributes this partly to unfavourable fiscal policies in other European nations. It notes that while Switzerland is in…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Bear kills four sheep in Graubünden

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Cheese expects competitive squeeze to harden

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Moonlighting sanctions increase

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Tourist spending hit by downturn in 2009

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Warm 2009 pushed down energy consumption

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Transocean enters Swiss top share index

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Manager-employee salary gap still growing

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Brewing coffee war gathers steam

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Firms and consumers cash in on football win

More

KOF sees hurdle for economic upturn

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