Archive – Banking & Fintech

SMEs start to find their feet again

This content was published on May 20, 2010 The bank noted that although SMEs are reporting an improvement in business, profits and employment decreased “modestly” in the first quarter. While SMEs in the industrial, service and retail sectors expected turnover to increase in the second quarter, and the building sector saw sales levelling off at last year’s figures, tourism continued to fear declining…

IMD tells Switzerland to keep on competing

This content was published on May 20, 2010 The IMD in Lausanne ranks Switzerland behind Singapore, Hong Kong and the United States in its 2010 world study of 58 nations. While praising the basic solid fundamentals of the Swiss economy, the IMD says business executives believe the country’s “image abroad has been tarnished and the risk factor in the financial system was magnified”.…

Novartis to pay millions for sex discrimination

This content was published on May 19, 2010 The damages are to be divided between about 5,600 women employees of the Novartis Pharmaceuticals Corporation, a United States affiliate of the Novartis group, covered by the 2004 class action lawsuit. Another $3.36 million in compensatory damages was awarded to 12 former sales reps who testified on behalf of others in the joint suit. On…

Prices for EU goods could drop in July

This content was published on May 19, 2010 Swiss ministers in Bern decided to implement the Cassis de Dijon principle, an agreement that says products legally made in the EU can be freely sold in other EU markets, as long as there is no public health risk. Switzerland, which is not an EU member but has numerous agreements with the bloc, generally sells…

Swiss business dismisses EU membership

This content was published on May 19, 2010 But the banking community now appears ready to explore the extension of bilateral ties to include financial services to avoid being frozen out by the threat of increasingly protectionist EU regulation. The report by the Swiss Business Federation, economiesuisse, that was released in Zurich on Tuesday, ruled out the prospect of Switzerland becoming a full…

Novartis found guilty of sex discrimination

This content was published on May 18, 2010 At the end of a six-week trial on Monday it awarded compensatory damages of $3.3 million (SFr3.74 million) to 12 women, and punitive damages to a larger group. The class action lawsuit – representing 5,600 women – alleged that the women were discriminated against in the areas of pay, promotions, and pregnancy-related matters. They are…

Novartis found guilty of discrimination in US

This content was published on May 17, 2010 A jury in the US District Court ruled on Monday that the company had systematically denied women promotion, paid them less and subjected them to differential treatment. At the opening of the trial six weeks ago, a lawyer for the plaintiffs said that although the company had extensive written materials warning against discrimination in fact…

Ash disrupts flights to some destinations

This content was published on May 17, 2010 A total of some 40 flights had been cancelled by mid-afternoon at Switzerland’s three main airports, Zurich, Geneva and Basel. However, the pattern was uneven, as some companies – including the low-cost airline easyJet – decided not to fly, and others – including Swiss and British Airways – took to the air. As for Switzerland…

Swiss suffer 9,500 dog bites a year

This content was published on May 17, 2010 These accidents cost insurance companies an estimated SFr11 million ($9.7 million) a year, of which SFr3.3 million can be attributed purely to dog bites. In total, 5,400 accidents caused by dogs are declared to insurers a year, of which 60 per cent are bites. These cases concern employed people who received obligatory insurance, Suva said…

Swiss test rail limits with new super fleet

This content was published on May 15, 2010 The SFr1.9 billion ($1.7 billion) order for 59 double-deck tilting trains that reach top speeds of 200km/h is Swiss Federal Railways’ biggest-ever purchase, widely described within Switzerland as the “deal of the century”. Canadian–run Bombardier Transport won the tender process to build the fleet, ahead of bids by Germany’s Siemens and Stadler Rail, the one…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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SMEs start to find their feet again

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IMD tells Switzerland to keep on competing

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Novartis to pay millions for sex discrimination

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Prices for EU goods could drop in July

More

Swiss business dismisses EU membership

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Novartis found guilty of sex discrimination

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Novartis found guilty of discrimination in US

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Ash disrupts flights to some destinations

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Swiss suffer 9,500 dog bites a year

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Swiss test rail limits with new super fleet

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