Archive – Banking & Fintech

Bonus question rumbles on

This content was published on Oct 26, 2008 The issue continued to dominate newspapers, as Switzerland continues to absorb the fall-out from the financial crisis and the government’s SFr68 billion ($58.6 billion) bailout of banking giant UBS. Economics Minister Doris Leuthard told the SonntagsZeitung that it was worth examining moves to stop UBS managers from receiving bonuses as long as the government continued…

Stocks rally to avoid historical loss

This content was published on Oct 24, 2008 The Swiss Market Index, which tracks leading blue-chip companies, closed at 5,675 points, down 3.71 per cent. As markets across Europe posted the worst losses in more than five years, the Swiss exchange faced its biggest drop in history as it hovered close to 5,400 points several times throughout the day. Shares rallied in afternoon…

Tax haven poll

This content was published on Oct 24, 2008

The call of the mountain

This content was published on Oct 24, 2008 Extreme mountaineer Robert Bösch is regarded as one of the best mountain photographers in the world. In his latest book of photos “Schweiz alpin” (Alpine Switzerland), published by AS-Verlag, he illustrates his best climbs in the Alps and explains in detail how, when and where to go up and come down.

Bad markets hit SNB third-quarter profit

This content was published on Oct 24, 2008 However, Switzerland’s central bank said that overall for the first nine months of 2008 it had made a loss of SFr895 million. In 2007, it earned SFr5.4 billion over the same period. The SNB said that the considerable recovery of the United States dollar and the rise in the price of gold had both contributed…

Stocks rise and fall, end in the red

This content was published on Oct 23, 2008 The index, which tracks leading blue chip companies, closed at 5,894 points, down 0.54 per cent. The biggest loser of the day was ABB in the advanced industrial equipment sector. The company’s shares began a heavy downward slide shortly after 12 p.m. to end at SFr13.75 ($11.86) a share, down 18.45 per cent. Shares in…

Protestors target UBS and the “bank billion rip-off”

This content was published on Oct 23, 2008 In a chorus of whistling and catcalls in front of UBS buildings, protestors expressed their anger over the federal government’s SFr68 billion ($58.6 billion) rescue package for the country’s largest bank. Million-franc bonuses for bankers also came under fire. Protestors demanded transparency in setting bank salaries and that no one be paid more than SFr500,000.…

Nestlé reports record nine-month sales

This content was published on Oct 23, 2008 The Vevey-based firm said that from January to September, sales grew 3.4 per cent, with growth in both its food and beverages business and in pharmaceuticals. The group’s food and beverage division posted sales of SFr75.8 billion. Acquisitions added another 2.5 per cent to sales but a strong Swiss franc had hit sales by 8.0…

Credit Suisse confirms loss, cuts bad assets

This content was published on Oct 23, 2008 Switzerland’s second-largest bank also revealed a massive SFr1.7 billion trading loss and pointed to trouble in global markets as it warned of a difficult fourth quarter. Revenues between January and September halved to SFr3.11 billion compared with SFr6.03 billion during the same period last year, it said. Investors drove shares down more than eight per…

Global recession is “inevitable”

This content was published on Oct 22, 2008 Switzerland may dodge the worst of the downturn but UBS still expects gross domestic product (GDP) growth to shrink to 0.2 per cent in 2009 from 1.9 per cent this year. The forecast states “recession can no longer be avoided” in the US despite efforts by the government to stimulate the financial sector with an…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Bonus question rumbles on

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Stocks rally to avoid historical loss

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Tax haven poll

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The call of the mountain

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Bad markets hit SNB third-quarter profit

More

Stocks rise and fall, end in the red

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Protestors target UBS and the “bank billion rip-off”

More

Nestlé reports record nine-month sales

More

Credit Suisse confirms loss, cuts bad assets

More

Global recession is “inevitable”

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