Archive – Banking & Fintech

Stock market soars to largest gain ever

This content was published on Oct 13, 2008 After weeks of often chaotic trading, the Swiss Market Index (SMI) of 20 leading companies closed 11.39 per cent higher at 5,956 points. That follows a 6.4 per cent gain on Friday evening. Big winners on Monday included Credit Suisse, which saw its shares soar nearly 28 per cent to close at SFr43.82 ($38.49). Julius…

Foods tests confirm melamine traces

This content was published on Oct 13, 2008 Tests showed high levels of melamine, which can cause kidney failure, in Milk Cookies S&P from Thailand and the Sri Lankan Lemon Puff Munchee, the Federal Health Office said on Monday. Traces had previously also been found in China’s iconic White Rabbit sweets, which are already the subject of a product recall in Europe, the…

Rescue plan results in market fireworks

This content was published on Oct 13, 2008 The SMI started the week 6.4 per cent up on Friday evening and at lunchtime stood 7.5 per cent higher at 5,750 points, the highest percentage increase since 1988. Banks were the big winners, with UBS’s share price shooting up more than 15 per cent by midday to SFr19.68 ($17.40). Credit Suisse gained 12 per…

Savers poll

This content was published on Oct 13, 2008

Banks boost lending to ease cash flow

This content was published on Oct 13, 2008 The SNB, the US Federal Reserve, the European Central Bank and the Bank of England issued a joint statement on Monday saying they would lend as much US dollar liquidity as commercial banks needed in a bid to ease frozen credit markets. The banks said they would meet all bids from commercial banks at a…

Crisis leads to ecological crossroads

This content was published on Oct 13, 2008 Environmental economist Mathis Wackernagel tells swissinfo that it is time to rethink the concept of continuous growth. Increased consumption of resources makes us poorer and undermines our future, he says. Basel-born Wackernagel, who now lives in California, helped to develop the idea of the “ecological footprint”, which provides a way of calculating how human demands…

Swiss shares suffer worst loss in two decades

This content was published on Oct 10, 2008 The result is in line with other European markets as investors dumped equities amid fear that efforts by governments and central banks to breathe new life into credit markets may not prevent a recession. The SMI closed at 5,347 points, down 22 per cent over the week. Shares of dental implant maker Nobel Biocare slumped…

Right column content Special Finance crisis

This content was published on Oct 10, 2008

Acting finance minister won’t attend IMF meetings

This content was published on Oct 10, 2008 Widmer-Schlumpf based her decision, announced on Thursday, on the global financial situation. Her ministry said she would remain in Switzerland so as to remain in direct contact with representatives of the Federal Banking Commission and National Bank, and to analyse the situation on the financial markets on a daily basis. Switzerland will be represented at…

Ups and downs on Swiss stock exchange

This content was published on Oct 9, 2008 The blue chip SMI index was down 4.52 per cent, falling below 6000 points for the first time since the beginning of May 2005. At closing it stood at 5798.84. The more broadly based SPI lost 1.8 per cent. The market had risen at start of trading, but fell in the afternoon as a result…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Stock market soars to largest gain ever

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Foods tests confirm melamine traces

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Rescue plan results in market fireworks

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Savers poll

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Banks boost lending to ease cash flow

More

Crisis leads to ecological crossroads

More

Swiss shares suffer worst loss in two decades

More

Right column content Special Finance crisis

More

Acting finance minister won’t attend IMF meetings

More

Ups and downs on Swiss stock exchange

Popular Stories

Most Discussed