Archive – Banking & Fintech

Slow economy pummels industrial group Rieter

This content was published on Jan 29, 2010 Figures released on Friday by the Winterthur-based concern showed turnover dropped to about SFr1.96 billion ($1.86 billion) compared with SFr3.14 billion in 2008. However, that was better than what analysts had expected. The group’s textile machine division suffered the worst, with turnover falling 53 per cent to SFr532 million in 2009 compared to SFr1.22 billion…

Investment urged for Swiss mountain farms

This content was published on Jan 29, 2010 Swiss Mountain Aid last year funded over 500 livelihood projects in the Swiss Alps to the tune of SFr20 million ($18.9 million) to help people carve out an existence in the tough alpine environment. “Huge solidarity is essential to keep the mountain regions alive,” Hugo Höhn, director of Swiss Mountain Aid, told a media conference…

Big business urged to restore Haiti’s economy

This content was published on Jan 28, 2010 Former United States President Bill Clinton appealed to the assembled executives to start doing business that would stimulate the economy, create jobs and form the basis of sustainable recovery in the Caribbean country. The devastating earthquake that struck Haiti earlier this month has left around 150,000 people dead and more than 200,000 injured. It also…

London mayor cautions bankers against Swiss move

This content was published on Jan 28, 2010 “I’m told there are parts of the Bern canton where a man may not urinate standing up after 10pm for fear of disturbing the neighbours,” Johnson told a reception hosted by a Japanese investment bank in the Swiss ski resort of Davos. Switzerland’s international banking and finance sector is primarily based in Geneva, Zurich and…

Switzerland-Italy rail link reopens after crash

This content was published on Jan 28, 2010 The line was back in operation at around 8:00pm, authorities said. The head-on collision, which happened between Brig and Iselle di Trasquera, occurred in the early hours of Thursday morning, close to the Simplon Tunnel beneath the Alps. A 1,280-ton train travelling at around five km/h ran directly into a 790-ton train travelling at 30…

World Social Forum

This content was published on Jan 28, 2010 At a World Social Forum event in Porto Alegre from January 25 to 29, 2010, civil society groups will seek alternatives to neo-liberal policies and reflect on ten years of work.

Crash blocks key Switzerland-Italy rail link

This content was published on Jan 28, 2010 Swiss Federal Railways says the trains derailed between Brig and Iselle di Trasquera close to the Simplon Tunnel beneath the Alps. Nobody was injured in the crash, it added on Thursday, but all connections between Brig and the Italian city of Domodossola had been interrupted. International rail links between Basel and Geneva in Switzerland and…

Billionaire fined over Oerlikon share purchase

This content was published on Jan 28, 2010 Details of the fine by the finance ministry, imposed in December, were announced on Thursday in a statement by Renova. It follows the purchase of two stakes in the Swiss technology group Oerlikon through Renova. The finance ministry found Renova violated disclosure rules when buying the shares in 2006. The fine amounts to 20 per…

Sarkozy opens WEF with calls for regulation

This content was published on Jan 27, 2010 Sarkozy, giving the keynote address on Wednesday, told the business and political movers and shakers gathered in the Swiss resort to prepare for tighter regulations including new accounting rules and executive pay limits. He said the risks were too great if “we do not change the regulation of our banking system and the rules for…

Tax dispute settled with France

This content was published on Jan 27, 2010 Switzerland said in December it would freeze the tax treaty talks after French authorities obtained tax-sensitive client information from a former HSBC employee, which it said helped identify 3,000 suspected French tax evaders. “We have found an agreement,” Swiss Finance Minister Hans-Rudolf Merz said after talks with French Budget Minister Eric Woerth on the sidelines…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Slow economy pummels industrial group Rieter

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Investment urged for Swiss mountain farms

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Big business urged to restore Haiti’s economy

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London mayor cautions bankers against Swiss move

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Switzerland-Italy rail link reopens after crash

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World Social Forum

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Crash blocks key Switzerland-Italy rail link

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Billionaire fined over Oerlikon share purchase

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Sarkozy opens WEF with calls for regulation

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Tax dispute settled with France

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