Archive – Banking & Fintech

Breaking records like clockwork

This content was published on Oct 5, 2009 “It has pretty much all the complications that you can imagine for a mechanical watch,” says Jean-Michael Piguet, deputy curator of the International Watchmaking Museum in La Chaux-de-Fonds, a Swiss town near the French border. The Calibre 89 was designed to celebrate the watchmaker’s 150th anniversary in 1989. It is an example of Swiss watchmaking…

Kudelski makes second bid for US software group

This content was published on Oct 5, 2009 Kudelski launched on Monday an all-cash tender offer to shareholders in the San Francisco-based company of $1.55 (SFr1.60) per share for the 108 million shares it does not already own. The deal values OpenTV at $215 million and follows the rejection of Kudeliski’s February 2009 offer of $1.35 per share, which was viewed by OpenTV’s…

Merz upbeat about economic recovery

This content was published on Oct 4, 2009 In an address to the annual meeting of the International Monetary Fund in Istanbul on Sunday reported on the government news site, he said manufacturing was rebounding and consumer confidence was stabilising. But he warned that growth rates were likely to remain lower than their pre-crisis levels for some time to come. “We will need…

Doing business the Japanese way

This content was published on Oct 4, 2009 Japanese consumers and business culture offer lucrative trade, but can also present a minefield to the unwary Westerner. Even global giants Nokia and IKEA stumbled after getting their homework wrong. Zurich-based trading services company DKSH is more aware than most about the do’s and don’ts of doing business in the land of the rising sun.…

Deep underground

This content was published on Oct 3, 2009

Rhine shipping hampered by low water

This content was published on Oct 3, 2009 On Saturday it was only 4.95 metres deep, the shallowest it has been since the hot summer of 2003. Barges are able to load only between a quarter and a third of their normal cargo, otherwise they would be too low in the water, Peter Sauter of the Swiss Rhine Ports told the Swiss news…

National Bank to keep UBS toxic assets fund

This content was published on Oct 3, 2009 The SNB last October announced the creation of a holding fund to absorb up to $60 billion worth of UBS’s so-called toxic holdings – assets whose value had fallen so sharply that they could not longer expect to be sold. UBS has recently let it be known that it was interested in reacquiring the assets,…

Banks look east to recover wealth

This content was published on Oct 2, 2009 The flow of offshore assets, especially from the United States, is dwindling away, but Swiss banks are well positioned to take advantage of the fastest growing wealth market in the world. The Swiss private banking industry had already begun to shift its focus to onshore activities in prosperous regions before it had felt the full…

Italian tax deal raises brows for Swiss banks

This content was published on Oct 2, 2009 The move, part of an anti-financial-crisis package, allows taxpayers to transfer undeclared assets back into Italian banks anonymously and without the knowledge of tax authorities. A five per cent fee will be levied on incoming assets. The bill’s passage carries large consequences for Switzerland’s Italian-speaking canton, Ticino, where Italian authorities estimate €125 billion (SFr188.8 billion)…

Nestlé quits Mugabe farm amid boycott threat

This content was published on Oct 2, 2009 The Swiss-based company had faced worldwide boycott threats. Nestlé said in a statement on Thursday that it had been buying from Grace Mugabe’s farm because the cash-strapped national dairy board did not have the money itself. The company said it had not wanted the milk to go to waste and had preferred to boost the…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Breaking records like clockwork

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Kudelski makes second bid for US software group

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Merz upbeat about economic recovery

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Doing business the Japanese way

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Deep underground

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Rhine shipping hampered by low water

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National Bank to keep UBS toxic assets fund

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Banks look east to recover wealth

More

Italian tax deal raises brows for Swiss banks

More

Nestlé quits Mugabe farm amid boycott threat

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