Archive – Banking & Fintech

Sales of Swiss-made war goods stay strong

This content was published on Apr 29, 2010 Germany, Britain and Pakistan were the biggest buyers of Swiss weaponry, which netted SFr148 million in sales ($136.6 million), statistics from the Federal Customs Office showed on Thursday. That is nearly three per cent more than the same quarter in 2009. Three countries expressed an increased interest in Swiss-made war goods. Pakistan nearly doubled its…

Papers await next move in financial strategy

This content was published on Apr 29, 2010 Newspapers on Thursday generally agreed that the time was right for at least a “mini reform” in the financial sector but some wondered whether the country was playing a high-stakes poker game. At a news conference in Bern on Wednesday, ministers announced their intentions of taxing bonuses of more than SFr2 million ($1.84 million) as…

Cabinet plans action to control finance sector

This content was published on Apr 28, 2010 Under plans announced on Wednesday in Bern, banks that needed state support such as UBS would also be subject to increased regulation. The government also felt there was a “need for action” in containing the problem of companies that are considered “too big to fail”. It wants to have a binding schedule by May for…

Credit Suisse chairman defends bonuses

This content was published on Apr 28, 2010 In an interview with the Geneva-based Le Temps newspaper published on Wednesday, Doerig said Credit Suisse’s bonuses and compensation programme have allowed “for excellent results compared with the competition”. “Many people don’t consider the issue of bonus pay in its entirety,” he told the newspaper. “I find it hard to understand the criticism.” Over the…

Independent publishers are left in a bind

This content was published on Apr 28, 2010 But in fact life is tough for Switzerland’s independent publishers, with rising costs and growing competition from big publishing groups. The owners of Zurich’s well-regarded Amman Verlag announced recently that they are closing in June, provoking a flurry of questions in the media about the fate of similar companies. Switzerland has some 200 independents, which…

Volcano serves timely air freight warning

This content was published on Apr 27, 2010 About a third of all Swiss exports, amounting to some SFr60 billion ($56 billion) a year, travel by plane. Industry experts warn that flight restrictions and infrastructure shortfalls could damage Switzerland’s competitiveness. Swiss companies managed to negotiate the volcano-related flight ban without sustaining serious losses, a conference at Zurich airport heard on Tuesday. Longer lasting…

Victims’ group launches anti-racer initiative

This content was published on Apr 27, 2010 On Tuesday, the road accident prevention group RoadCross launched a signature-collecting campaign for its “Protection from Racers” initiative. The initiative already has the backing of a number of parliamentarians. “Racers destroy families, so we have to ban them from the streets,” Radical Party parliamentarian Peter Malama told a news conference in Bern on Tuesday. Malama…

Public broadcaster runs up increasing deficits

This content was published on Apr 27, 2010 At a news conference in Bern, the SBC described its financial situation as “critical” because of structural deficits. It added that a government decision on finances for the period 2011-2014 would be crucial. The corporation, which has a public service mandate, said that this year’s loss would climb to SFr75 million because of two major…

Second Swiss restaurant joins ranks of elite

This content was published on Apr 27, 2010 The new entry this year is the Schloss Schauenstein at Fürstenau in canton Graubünden, which enters at 30th in the rankings of London’s Restaurant Magazine. It joins the Hôtel de Ville in Crissier, canton Vaud, which has improved its position by two places and ranks 14th. It is run by Phillipe Rochat. The chef at…

Radical Party distances itself from big banks

This content was published on Apr 26, 2010 In a statement issued on Monday, the party took issue with Credit Suisse, whose CEO Brady Dougan is to receive a bonus of SFr17.9 million ($16.6 million) for the year 2009. According to the Radical Party, the sum does not reflect the work performed or the business risk involved. The party’s executive committee recommends that…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Sales of Swiss-made war goods stay strong

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Papers await next move in financial strategy

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Cabinet plans action to control finance sector

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Credit Suisse chairman defends bonuses

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Independent publishers are left in a bind

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Volcano serves timely air freight warning

More

Victims’ group launches anti-racer initiative

More

Public broadcaster runs up increasing deficits

More

Second Swiss restaurant joins ranks of elite

More

Radical Party distances itself from big banks

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