Archive – Banking & Fintech

Clariant sales drop as more lay-offs likely

This content was published on Jul 30, 2009 Low demand pushed total sales for the first two quarters down to SFr3.2 billion. That is 24 per cent less than the SFr4.23 billion reported for the same time last year. The company based near Basel had posted a SFr92 million net income gain for the first half of 2008. CEO Hariolf Kottmann said in…

Time running out for UBS settlement

This content was published on Jul 29, 2009 A Miami judge has heard that the Swiss and US governments cannot agree on how to settle a demand for the confidential information of 52,000 UBS clients. The court case will open on Monday if the impasse continues. Judge Alan Gold had already delayed the case three weeks to allow all parties to reach an…

ABB wins large power line order from Brazil

This content was published on Jul 29, 2009 ABB, which is based in Zurich, said the orders were made from the Abengoa Group for the delivery of key technology. The so-called power highway will link two hydropower plants in the northwest of the country with São Paulo, Brazil’s main economic centre, over a distance of 2,500 kilometres. An ABB statement said on Wednesday…

UBS client admits to US tax charges

This content was published on Jul 29, 2009 The New York owner of a company that represents Chinese and Hong Kong toy manufacturers faces up to three years in prison after entering his plea at the federal court in Fort Lauderdale, Florida, on Tuesday. Sentencing has been set for October 30. He is the third US client of UBS to plead guilty to…

Poll puts Swatch Group top of the image tree

This content was published on Jul 28, 2009 GfK Switzerland, the country’s largest market research company, together with researchers at Zurich University, placed chocolate maker Lindt & Sprüngli second and supermarket chain Migros third. About 3,400 people were asked in a survey about the image, profile, quality, innovation and emotional components of 112 companies. Computer peripherals company Logitech came fourth, followed by the…

Index points to increase in consumer spending

This content was published on Jul 28, 2009 The UBS Consumption Indicator recovered some ground in June but the bank’s economic researchers said on Tuesday that the index, based on consumer behaviour, remained below its long-term average. It jumped to 0.96 from 0.75 in May, registering its sharpest increase month-on-month in a year. A statement said that while the indicator’s level hints at…

Flu pandemic is also a laughing matter

This content was published on Jul 27, 2009 Television spots in the three national languages – German, French and Italian – have been produced in cooperation with comedians, according to the Federal Health Office. “It is a serious issue, but we believe at this stage we can afford a touch of humour,” said the health office’s Thomas Zeltner. He added that the campaign…

Julius Bär six-month profit down one-third

This content was published on Jul 27, 2009 The SFr324 million ($303 million) six-month profit for Switzerland’s largest dedicated asset manager however surpassed analysts’ expectations of SFr287 million. Operating income declined by 24 per cent to SFr 1.22 billion and the bank trimmed expenses by 12 per cent, it said in a statement released on Monday. Zurich-based Julius Bär said its consolidated balance…

Does size matter for bankers?

This content was published on Jul 24, 2009 But just how do you properly judge the size of a bank and – apart from bragging rights – does it really matter how much a financial institution is worth when there is absolutely no intention of selling up? Credit Suisse effectively became the most expensive Swiss bank to buy in early summer of this…

Fired lingerie makers protest at embassies

This content was published on Jul 24, 2009 The company, with headquarters in Zurzach, said it would make 3,714 workers redundant at sister firms in Thailand and the Philippines. Triumph, which employs 40,000 people worldwide, said in a statement that a “general downturn in consumer demand” prompted the move. It said it had given written notices to employees according to law and that…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Clariant sales drop as more lay-offs likely

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Time running out for UBS settlement

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ABB wins large power line order from Brazil

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UBS client admits to US tax charges

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Poll puts Swatch Group top of the image tree

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Index points to increase in consumer spending

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Flu pandemic is also a laughing matter

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Julius Bär six-month profit down one-third

More

Does size matter for bankers?

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Fired lingerie makers protest at embassies

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