Archive – Banking & Fintech

Syngenta prunes outlook as profits slip

This content was published on Jul 24, 2009 The Basel-based multinational posted a $1.39 billion (SFr1.49 billion) net profit for the first six months, down $1.52 billion from the same period last year. Analysts had expected net profits of $1.47 billion. Syngenta’s sales actually increased two per cent to $6.7 billion when figures are adjusted for currency fluctuations. The corporation had increased prices…

Safety first approach profits Credit Suisse

This content was published on Jul 23, 2009 Analysts praised the expectation-busting performance after previously expressing doubts over the sustainability of huge recent returns generated by United States rivals Goldman Sachs and JP Morgan. The results announced on Thursday follow a first-quarter windfall of SFr2 billion, placing Credit Suisse’s profit for the first half of 2009 at SFr3.57 billion. The bank had posted…

Swiss move closer to leaving tax-haven list

This content was published on Jul 23, 2009 The finance ministry said the accord, which will likely be signed in three to five months, meets standards set by the Organisation for Economic Co-operation and Development (OECD). It is designed, in part, to open avenues for administrative assistance when foreign authorities need to access account data held in Swiss banks to conduct domestic tax…

Roche optimistic despite drop in net profit

This content was published on Jul 23, 2009 Roche said its profit dropped to SFr4.1 billion ($3.8 billion) as a result of costs related to the acquisition of California-based biotechnology company Genentech earlier this year. The result was also short of an average forecast of SFr5 billion by analysts, but Roche shares rose because of its healthy underlying business in the pharmaceutical and…

Credit Suisse exceeds expectations with Q2 profit

This content was published on Jul 23, 2009 The results announced on Thursday follow a first-quarter windfall of SFr2 billion, placing the bank’s profits for the first half of 2009 at SFr3.57 billion. Credit Suisse had posted a record loss of SFr8.2 billion in 2008. “Our strong second-quarter performance demonstrates that our client-focused, capital-efficient strategy is working very well and that our reduced-risk…

Visana quarantines staff after “risky” holidays

This content was published on Jul 22, 2009 It is now seeking expert advice on whether it has to pay employees affected by the move. Confirming a report in the Berner Zeitung newspaper, Visana spokesman Christian Beusch said staff had been informed of the measure earlier this year. Until now the company has not paid those employees affected by the one-week quarantine. Visana…

Profit at Lonza takes a hefty fall

This content was published on Jul 22, 2009 The company said in a statement on Wednesday that profit had fallen from SFr267 million ($250 million) to SFr118 million. However, Basel-based Lonza pointed out that last year’s figure took into account a one-off gain of SFr91 million ($85.23 million) from the sale of its remaining stake in the Polynt company of Italy. On a…

Will tax amnesties halt evasion?

This content was published on Jul 22, 2009 Critics argue that amnesties fuel rather than restrain tax evasion because they allow offenders to get off the hook. But some observers believe a combined crackdown on banking secrecy and amnesties could this time hurt havens. Italy wants to stage its third tax amnesty in nine years, hoping to raise some €5 billion (SFr7.6 billion)…

Swiss exports suffer a record tumble

This content was published on Jul 21, 2009 The Federal Customer Office reported on Tuesday that exports had fallen by 23.5 per cent in June, and that exports and imports both dropped by 16 per cent in the first six months of the year – the largest decline ever recorded over a six month period. Switzerland’s trade balance posted a surplus of SFr1.57…

The first and only watch worn on the Moon

This content was published on Jul 20, 2009 All eyes were on Neil Armstrong as he became the first man to walk on the Moon – and if you were vaguely interested to see what watch he was wearing, you would have looked in vain. He left it in the Eagle lunar module because the onboard electronic timing device was not functioning correctly…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Syngenta prunes outlook as profits slip

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Safety first approach profits Credit Suisse

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Swiss move closer to leaving tax-haven list

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Roche optimistic despite drop in net profit

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Credit Suisse exceeds expectations with Q2 profit

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Visana quarantines staff after “risky” holidays

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Profit at Lonza takes a hefty fall

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Will tax amnesties halt evasion?

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Swiss exports suffer a record tumble

More

The first and only watch worn on the Moon

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