Archive – Banking & Fintech

Kühne & Nagel feels freight market slump

This content was published on Jul 20, 2009 Gerard van Kesteren, chief financial officer of the Swiss-based firm, said on Monday he expected the global sea freight market to contract by 15 per cent while the world air freight market would fall by 20 per cent. He also said that he saw a rise in freight rates, but this would only have an…

Calmy-Rey to meet Clinton before UBS deadline

This content was published on Jul 19, 2009 Calmy-Rey told the NZZ am Sonntag newspaper that she is scheduled to meet Clinton on July 31, adding that she hoped that strong ties with the US would help in finding a deal for Swiss bank UBS. The visit would take place shortly before a court hearing in a US tax evasion lawsuit against UBS…

Ski area auctioned on the internet

This content was published on Jul 18, 2009 The asking price for the resort, including ski lifts, a restaurant and après-ski area, was SFr250,000 ($232,000). Claus Dangel, director of the Winterhorn resort, confirmed to the Swiss News Agency on Saturday that an investor had been found. The person is said to be Swiss, but no other details will be given until the contract…

Builders of the Gotthard tunnel

This content was published on Jul 17, 2009 The Gotthard base tunnel is the centrepiece of a new railway line which will improve connections between northern and southern Europe. (Pictures and text: Thomas Kern, swissinfo.ch)

Georg Fischer dives deeper into the red

This content was published on Jul 17, 2009 The Schaffhausen-based multinational had reported a profit of SFr109 million for the same period last year. Of the company’s three divisions, the automotive and machine divisions showed the most dramatic decline, sliding 48 and 46 per cent, respectively. The automotive branch was particularly affected by the downturn in Detroit. For the entire corporation, figures for…

Pharmaceuticals drive growth at Novartis

This content was published on Jul 16, 2009 Novartis said net sales for the first six months were $20.3 billion (SFr21.87 billion), an increase of eight per cent in local currencies but a decline of two per cent in dollars over the comparable period last year. Net income for the first half was down by 12 per cent at $4.02 billion. Announcing its…

McDonald’s to establish European HQ in Geneva

This content was published on Jul 15, 2009 One of the main functions of the European HQ will be to manage intellectual property rights associated with franchising operations across the region. This is currently carried out in the United States. McDonald’s has no European HQ at present with various operational functions being carried out by offices in London, Paris, Munich and Siena, Italy.…

Ice cream market fails to take off

This content was published on Jul 15, 2009 Even novelties this summer such as Mövenpick’s cognac ice cream and a special moon landing tie-in with the ever-popular Rocket lolly don’t look set to halt the decline. Whereas six years ago each Swiss got through more than eight litres of ice cream annually, last year it was down to six, according to the Swiss…

Economic crisis hits Sulzer’s business hard

This content was published on Jul 14, 2009 Orders for the first six months were SFr1.56 billion ($1.44 billion), “clearly below” the record level of last year’s first half, a Sulzer statement said on Tuesday. The company, which makes pumps for the oil and gas industry as well as surface coatings for jet engines, noted that the dynamics of Sulzer’s key markets worsened…

Stalemate extended as UBS court case postponed

This content was published on Jul 13, 2009 UBS along with the Swiss and US authorities had on Sunday requested a postponement until August 3 as all parties try to find a solution to the impasse that threatens a collision between the legal codes of both countries. The US Department of Justice (DoJ) and the tax authority, the Internal Revenue Service (IRS), are…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Kühne & Nagel feels freight market slump

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Calmy-Rey to meet Clinton before UBS deadline

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Ski area auctioned on the internet

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Builders of the Gotthard tunnel

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Georg Fischer dives deeper into the red

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Pharmaceuticals drive growth at Novartis

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McDonald’s to establish European HQ in Geneva

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Ice cream market fails to take off

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Economic crisis hits Sulzer’s business hard

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Stalemate extended as UBS court case postponed

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