Archive – Banking & Fintech

Swiss-Swedish ABB makes US acquisition

This content was published on May 5, 2010 Based in Atlanta in the US, Ventyx designs software used for managing power networks. Last year, Ventyx reported revenues of $250 million (SFr276 million). It employs 900 people and is active in more than 40 countries. As ABB announced on Wednesday, it will pay cash for Ventyx. The American company currently belongs to Vista Equity…

Euro business jets start tricky climb

This content was published on May 5, 2010 Some 12,000 visitors are expected to attend the tenth European Business Aviation Conference and Exhibition (Ebace) in Geneva, which opened on Tuesday. Brian Humphries, president and chief executive officer of the European Business Aviation Association (EBAA), has a smile on his face. “We’re beginning to see the signs of recovery and good figures,” he told…

Door opens to a digital future

This content was published on May 4, 2010 SuisseID is a password-protected card, also available as a USB stick, which makes the use of multiple passwords unnecessary and saves time and money with a safe system for electronic transactions. “Today is a groundbreaking day for the security of e-commerce,” Jean-Daniel Gerber, head of the State Secretariat for Economic Affairs (Seco), said at Monday’s…

Kosovars demand pension pay at home

This content was published on May 4, 2010 As of April 1, Kosovars have been unable to have their retirement and disability insurance payments sent to Kosovo. Instead, the workers must remain in Switzerland to receive those funds. The Swiss government cancelled the payments over concerns of fraud and abuse, which prompted an inquiry in 2008. It failed after investigators received death threats.…

The train that defies gravity

This content was published on May 4, 2010 The famous Rhaetian Railway red train also takes you on a historic journey to the natural beauties of the eastern canton of Graubünden. Passengers leaving Tirano get the message almost immediately: the Bernina Express is a train with a difference. The moment it pulls out of the station of this little Italian town, the train…

Swiss Life posts healthy first-quarter returns

This content was published on May 4, 2010 The Zurich-based insurance group posted a 23 per cent leap in premiums to SFr7.87 billion ($7.24 billion) for the first quarter compared with the same period last year. “We are very pleased,” CEO Bruno Pfister said. “Premium growth in almost all markets gives us confidence for the next months.” Switzerland’s largest insurer reported an overall…

Historic Bernina line looks to the future

This content was published on May 4, 2010 The line has been a Unesco World Heritage site since 2008, but very nearly didn’t make it. Railway bosses were only convinced following a campaign by locals. Opening celebrations were held on July 5, 1910. A train rumbled by, marking the first time St Moritz in Switzerland and Tirano in Italy were connected by a…

UBS beats forecasts with official figures

This content was published on May 4, 2010 Analysts had been expecting profits of around SFr2 billion. Preliminary figures released in April had predicted first-quarter pre-tax profit of at least SFr2.5 billion compared with SFr1.2 billion for the last quarter of 2009. Instead, the bank’s updated figures show pre-tax earnings topped SFr2.8 billion. “We are well positioned to meet our medium-term goals,” CEO…

Transocean under fire over US oil spill

This content was published on May 3, 2010 It is still unclear what caused the explosion on the rig operated by BP and owned by Transocean, but many are beginning to point their finger at the Zug-based company’s blowout preventer (BOP) for failing to work properly. “BP is responsible for this leak — BP will be paying the bill,” President Barack Obama told…

Seeing Switzerland through other eyes

This content was published on May 3, 2010 The library has put on a small exhibition giving a tantalising overview of some of the thousands of guidebooks to the country that have been published over the past couple of centuries. Curator Beat Gugger has selected about 300 out of the 30,000 or so in the library’s stocks. As he told swissinfo.ch, the aim…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Swiss-Swedish ABB makes US acquisition

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Euro business jets start tricky climb

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Door opens to a digital future

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Kosovars demand pension pay at home

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The train that defies gravity

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Swiss Life posts healthy first-quarter returns

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Historic Bernina line looks to the future

More

UBS beats forecasts with official figures

More

Transocean under fire over US oil spill

More

Seeing Switzerland through other eyes

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