Archive – Banking & Fintech

Swiss telecoms players weather economic storm

This content was published on Aug 12, 2009 Swisscom – the country’s biggest telecoms group and majority-owned by the government – and Sunrise announced SFr1.02 billion ($940 million) and SFr76 million net profit respectively. Swisscom closed the first half of the year with a 1.2 per cent fall in net revenue to SFr5.9 billion compared with the same period in 2008. Revenue at…

Automotive supplier announces more job cuts

This content was published on Aug 12, 2009 In a statement, Winterthur-based Rieter, a supplier to the textile and automotive industries, said the slump in these sectors had resulted in a 50 per cent drop in sales in the first half of this year to SFr899.8 million ($831.5 million). The concern announced a SFr145.5 million loss, with orders down SFr700 million or 46…

Nestlé turns profit but sees sales drop

This content was published on Aug 12, 2009 The multinational reported a net profit of SFr5.1 billion, which amounts to 9.7 per cent of sales. Nestlé said sales were affected by divestitures and a strong Swiss franc. However, the company said it achieved 3.5 per cent organic growth and the group’s EBIT grew to SFr7.4 billion. “With 3.5 per cent organic growth and…

Opponents clash on fairness of tax system

This content was published on Aug 11, 2009 The centre-left Social Democratic Party in May 2008 submitted an initiative that, if passed, would force all cantons to adopt the same tax system. The Swiss Business Federation (economiesuisse) believes this would damage the economy. The Federation recruited a noted academic to produce a dossier outlining the benefits of the current system. The findings of…

Salary caps for bankers rejected in parliament

This content was published on Aug 11, 2009 A majority in the Senate on Tuesday voted against plans by the House of Representatives to split up banks’ business activities at home and abroad. It also rejected setting caps for bonuses and bankers’ and board members’ pay, and plans for a government seat in companies benefitting from state funds, notably the struggling UBS bank.…

Swiss Post sees opportunities abroad

This content was published on Aug 11, 2009 Béglé believes that it is a time of change for the company, which has to straddle both innovation and tradition. Most Swiss attach great importance to the services provided by Swiss Post and do not want the complete deregulation of the letter delivery market as proposed by the government in May, according to a survey…

Swiss want traditional postal service preserved

This content was published on Aug 10, 2009 Some 57 per cent of Swiss believe that the complete deregulation of the letter delivery market as proposed by the cabinet in May makes very little or no sense at all. The survey, carried out by the research institute gfs.berne on behalf of the Swiss Post found that two-thirds of those questioned agree with the…

Merz says IRS-UBS row needs no emergency laws

This content was published on Aug 9, 2009 Merz, who also holds the rotating Swiss presidency this year, told public television on Sunday that talks were nearing an end and that the federal cabinet would meet to discuss the case, perhaps as early as Monday. A government spokesman would not confirm or deny the meeting. The dispute between UBS and the United States’…

UBS tax evasion deal bogged down in details

This content was published on Aug 7, 2009 Lawyers asked a Miami judge to postpone the threatened trial for yet another week as attempts to find an out-of-court settlement foundered on details of a broad agreement between the two countries. The US tax authorities had demanded details of thousands of UBS clients in February after the bank admitted that some of its employees…

Animal rights poll

This content was published on Aug 7, 2009

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Swiss telecoms players weather economic storm

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Automotive supplier announces more job cuts

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Nestlé turns profit but sees sales drop

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Opponents clash on fairness of tax system

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Salary caps for bankers rejected in parliament

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Swiss Post sees opportunities abroad

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Swiss want traditional postal service preserved

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Merz says IRS-UBS row needs no emergency laws

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UBS tax evasion deal bogged down in details

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Animal rights poll

Popular Stories

Most Discussed