Archive – Banking & Fintech

Judge says Swiss deserve response in UBS case

This content was published on May 8, 2009 The IRS has taken Switzerland’s largest bank to court in a bid to force it to disclose the identities of about 52,000 Americans it suspects of using Swiss accounts to hide $14.8 billion (SFr16.7 million) in assets and avoid paying US taxes. The Swiss government one week ago asked Alan Gold, a US district judge,…

Profit plunges at Swiss insurer Zurich

This content was published on May 7, 2009 The group said profit had fallen to $362 million after it posted a gain of $1.43 billion in the same quarter last year. Zurich said in a statement that 2009 would remain “challenging”. It added that general insurance premiums fell 12 per cent to $9.81 billion due largely to a weak United States market. The…

Figures at Swiss Re please investors

This content was published on May 7, 2009 But despite the decline from SFr600 million for the first quarter last year, the result was better than the market had expected and put the company in the black. Shares shot up by 23 per cent to SFr36 by early afternoon before closing the day up 11.83 per cent at SFr32.70. Swiss Re, the world’s…

Fewer people spend the night at Swiss hotels

This content was published on May 7, 2009 The Federal Statistics Office reported on Thursday that a reason behind the March decline could be that the Easter travel season came in April this year. Swiss hoteliers hosted proportionately fewer foreign guests in March than Swiss ones. Foreign travellers accounted for 1.8 million overnight stays, a drop of 411,000 or 19 per cent compared…

Athletics meeting highlights sponsorship fears

This content was published on May 7, 2009 Organisers of Zurich’s Weltklasse Golden League athletics event are still not sure if main sponsor UBS will continue beyond 2010. The Swiss bank has already ended its association with two other sporting events. The bank was hit hard by the subprime financial crisis and announced last month that it needs to save SFr4 billion ($3.5…

Holcim profit crumbles

This content was published on May 6, 2009 It fell to SFr74 million ($65.22 million) compared with SFr370 million for the same period last year. The world’s number two in the sector said on Wednesday that its sales had tumbled by 17.9 per cent to SFr4.5 billion, adding that 2009 would be a “difficult year”. Business in Europe and North America had suffered…

Numbers rise in adverse drug reaction cases

This content was published on May 5, 2009 Swissmedic, which is based in Bern, said that for human medicines the number of reports received had risen by 15 per cent to 4,833 – a figure that has more than doubled since the agency was founded in 2002. It said that spontaneous reports of adverse events were an important tool for identifying risks related…

Job loss fears trigger fall in consumer index

This content was published on May 5, 2009 A survey of 1,100 households in April showed Swiss consumers took a more sceptical view of the economy and their personal finances, while fears about job losses increased sharply, reaching the highest level since 1997. So far, consumers have kept up spending, cushioning some of the slump in exports and company investment that has dragged…

UBS confirms loss in first quarter

This content was published on May 5, 2009 Switzerland’s largest bank said the change was due to lower risk positions from businesses now divested or in the process of being divested by the ailing investment bank. First-quarter performance was negatively affected by a goodwill impairment of SFr631 million from the sale of its Brazilian unit Pactual and costs of SFr184 million. The net…

Third rescue package in the works

This content was published on May 2, 2009 A package of around SFr1 billion ($880 million) is in the works, to be decided by the cabinet in June, Mortiz Leuenberger, the minister for environment, energy, transport and communications told Saturday’s edition of the Mittelland Zeitung newspaper. The economic stimulus measures would follow two earlier rounds of funding in the past year totalling SFr1…

Page 698 of 1641

First … 696 697 698 699 700 … Last

Archive – Banking & Fintech

Popular Stories

Most Discussed

Archive – Banking & Fintech

More

Judge says Swiss deserve response in UBS case

More

Profit plunges at Swiss insurer Zurich

More

Figures at Swiss Re please investors

More

Fewer people spend the night at Swiss hotels

More

Athletics meeting highlights sponsorship fears

More

Holcim profit crumbles

More

Numbers rise in adverse drug reaction cases

More

Job loss fears trigger fall in consumer index

More

UBS confirms loss in first quarter

More

Third rescue package in the works

Popular Stories

Most Discussed