Archive – Banking & Fintech

Swiss banks move into position for US elections

This content was published on Aug 29, 2008 The Republicans are set to approve John McCain as their candidate following the Democrats’ endorsement of Barack Obama. But even before the party conventions it was clear that all campaign finance records had been beaten. McCain collected $27 million (SFr29.7 million) in July alone, a record for the Republican Party candidate. That feat was eclipsed…

Economic growth shows further signs of strain

This content was published on Aug 29, 2008 The KOF Swiss Economic Institute in Zurich said on Friday that its indicator, which points to the economy’s likely performance in six months’ time, fell to 0.68 in August from a revised 0.85 in July. This was the lowest reading since August 2003 and well below forecasts in a Reuters poll. “That does not look…

Novartis halts trial of superbug drug

This content was published on Aug 29, 2008 Novartis reported on Friday that its Aurograb medication had shown a lack of efficacy in mid-stage trials. The charge, which reflects the full amount allocated to the project, will be taken in the company’s third-quarter results. Novartis acquired Aurograb in 2006 when it bought NeuTec Pharma, a specialist in fighting hospital superbugs, for nearly $570…

Economic growth is revised upwards

This content was published on Aug 29, 2008 Gross domestic product grew by 3.3 per cent in real terms, compared with the 3.1 per cent previously indicated. The statistics office noted there was strong growth of added value in the financial services sector and in export branches. In a statement, it said that banks in particular had recorded “excellent results” despite the United…

Swiss Life shares dive after first-half figures

This content was published on Aug 28, 2008 The warning resulted in the share price closing on Thursday down 8.84 per cent at SFr204.20 ($186) after the worst daily decline in four years. Although Swiss Life reported income of SFr1.64 billion ($1.5 billion), an increase of 158 per cent compared with the same period last year, this was only due to extraordinary sales.…

Newspapers adapt to new media trends

This content was published on Aug 28, 2008 The report into the Swiss entertainment and media industry also concludes that the sector as a whole will grow by 4.4 per cent annually until 2012 with website advertising revenues playing a more significant role. Professional services firm PricewaterhouseCoopers (PwC) surveyed a broad range of media in Switzerland, including newspapers, magazines, television, radio and multimedia.…

Cabinet approves IMF finance and quota reform

This content was published on Aug 27, 2008 It also passed on Wednesday a financing reform which consists mainly of a more active management of the Fund’s reserves. The voting reform aims to better align the quotas of member countries with their current position in the world economy. The finance ministry said emerging countries in particular would benefit from this. Regarding the reform…

Oerlikon solar is group’s shining light

This content was published on Aug 26, 2008 The company opened a new solar panel production plant on Monday, but a day later announced losses of SFr313 million ($285 million) in the first half of 2008 – along with 1,000 job cuts in Europe. Executives blamed the losses on the rising cost of raw materials and energy but the firm also saw incoming…

Oerlikon cuts 1,000 jobs

This content was published on Aug 26, 2008 The company’s turnover dropped by 6.5 per cent to SFr2.5 billion compared with the same period in 2007. Incoming orders also dropped by 6.7 per cent to SFr2.8 billion, Oerlikon said on Tuesday. The group is currently restructuring Oerlikon Textiles, which will enable it to reduce its fixed costs by 20 per cent compared with…

Middle classes feel the inflationary pinch

This content was published on Aug 26, 2008 But who in fact belongs to this social group which makes up a good half of the Swiss population? “If pushed for a definition, I would say middle class starts when you are no longer entitled to certain social benefits such as grants, health insurance or housing assistance – and ends when the fiscal scale…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Swiss banks move into position for US elections

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Economic growth shows further signs of strain

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Novartis halts trial of superbug drug

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Economic growth is revised upwards

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Swiss Life shares dive after first-half figures

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Newspapers adapt to new media trends

More

Cabinet approves IMF finance and quota reform

More

Oerlikon solar is group’s shining light

More

Oerlikon cuts 1,000 jobs

More

Middle classes feel the inflationary pinch

Popular Stories

Most Discussed