Archive – Banking & Fintech

Swiss army fights battle of the blisters

This content was published on May 7, 2010 Sixty recruits have this week been testing a prototype of a sock that is aimed at reducing rubbing on toes and heels. Researchers from the materials testing institute Empa and experts from the procurement and technology group armasuisse have been developing the sock, which is expected to be introduced from 2013. The sock, containing various…

Jobless rate drops to four per cent

This content was published on May 7, 2010 Figures published on Friday by the State Secretariat for Economic Affairs (Seco) showed there were 158,570 people without a job at the end of April. This is 7,462 fewer than at the end of the previous month. Employment offices registered 223,804 people looking for work, 7,693 fewer than at the end of March. The number…

Holcim plans major cement plant in Indonesia

This content was published on May 7, 2010 Holcim, which is the number two on the cement market after Lafarge of France, said the plant, with an annual capacity of 1.6 million tons, is expected to go into service in the first half of 2013. In a statement from its headquarters in Zurich, the company said on Friday that Java had registered the…

Student symposium spans two eras of unrest

This content was published on May 7, 2010 The student-run forum, which has notched up its 40th year, is a vital ingredient in preventing the unrest in Greece from becoming a “contagion”, according to Symposium meeting chairman Lord Griffiths of Fforestfach. Lord Griffiths was a 26-year-old lecturer when the London School of Economics was closed for several weeks in 1968. But he later…

Transocean faces court cases over oil spill

This content was published on May 6, 2010 The suits were lodged in April and May with various federal district courts in the United States. Transocean is the owner of the Deepwater Horizon oil platform, leased to BP, which caught fire on April 20, allowing hundreds of thousands of litres of oil to flow into the sea and pollute the coast of Louisiana.…

Swiss Re reports profit despite disasters

This content was published on May 6, 2010 This is a 22 per cent increase compared with the same period last year when the Zurich-based company posted a $130 million net profit. Earnings per share were SFr0.49 ($0.44), up from SFr0.45 in the year-earlier period, the company said. Swiss Re added that the result was affected by high natural catastrophe losses from Chile’s…

Swiss finance sector eyes British election

This content was published on May 6, 2010 Other countries are taking an interest in the contest, not least Switzerland that could stand to gain or lose depending on the outcome. The taxation and financial policies of each party will come under particular scrutiny. Britain has emerged as one of the leading opponents of tax havens while new tax policies targeting the wealthy…

Poor report card for nuclear power plants

This content was published on May 5, 2010 The Federal Nuclear Safety Inspectorate (ENSI) has rated them as “satisfactory” but not “good”. At a press conference in Bern on Wednesday, ENSI cited a safety incident in Beznau as the reason why it did not receive better marks. Last August, two workers were exposed to unsafe radiation levels while doing maintenance work. ENSI criticised…

Arms dealer gets tough sentence

This content was published on May 5, 2010 The Swiss government provided Germany with legal assistance in the case, allowing Germany to use bank documents it secured from Switzerland in 1999. The lead judge said the trial closed the Schreiber case, which “brought the party-funding scandal of the Christian Democratic Union (CDU) to light”. The 76-year-old Schreiber, who holds dual Canadian and German…

Swiss posts first loss in five years

This content was published on May 5, 2010 Switzerland’s main airline, which was taken over by Germany’s Lufthansa in 2005, recorded an operative loss of SFr10 million ($9.06 million) in the first quarter of this year. The strong Swiss currency and rising fuel prices are to blame for the loss, according to a company statement on Wednesday. Twelve months ago Swiss posted a…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Swiss army fights battle of the blisters

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Jobless rate drops to four per cent

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Holcim plans major cement plant in Indonesia

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Student symposium spans two eras of unrest

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Transocean faces court cases over oil spill

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Swiss Re reports profit despite disasters

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Swiss finance sector eyes British election

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Poor report card for nuclear power plants

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Arms dealer gets tough sentence

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Swiss posts first loss in five years

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