Archive – Banking & Fintech

Novartis buys into eye care specialist

This content was published on Jul 8, 2008 The drugmaker said in a statement on Tuesday that the price was $200 million less than previously announced, due to a dividend payment. The purchase is the first step in Novartis’ agreement to acquire a majority stake in American firm Alcon from Swiss food multinational Nestlé. The deal was announced in April. Novartis has the…

Washington Post gets new executive editor

This content was published on Jul 8, 2008 Brauchli, 47, will oversee the operations of the Post and washingtonpost.com, a sign that the newspaper may be assuming more control over the website, which has been separately run. Brauchli was managing editor of The Wall Street Journal until he resigned earlier this year to make way for new owner Rupert Murdoch’s candidate. Murdoch’s News…

Move to ban pollutant cars gathers pace

This content was published on Jul 7, 2008 The youth wing of the Green Party has gathered 130,000 signatures for a people’s initiative to be lodged with the federal authorities, a party spokesman said on Monday. The group wants to outlaw vehicles such as sports utility vehicles (SUVs) that may emit excessive quantities of harmful substances, particularly carbon dioxide or fine-particles or those…

Central bank is confident about present policy

This content was published on Jul 6, 2008 Thomas Jordan, a vice-president of the bank, told the NZZ am Sonntag newspaper: “We believe that an unchanged monetary policy is enough to bring inflation back to price stability.” Inflation has risen to 2.9 per cent, above the two per cent threshold that the central bank equates with price stability. The bank decided in mid-June…

Companies boost climate commitment

This content was published on Jul 4, 2008 The result is the Swiss Climate Foundation, which was officially baptised in Zurich on Friday. It is believed to be the first project of its kind in Switzerland and is financed from a CO2 tax rebate. Insurers Swiss Life, Vaudoise Insurances, XL Insurance, Allianz Switzerland, PartnerRe and Swiss Re, as well as professional services firm…

UBS countersuit turned down by High Court

This content was published on Jul 4, 2008 The countersuit was filed after HSH Nordbank decided to sue the Swiss bank for US$275 million (SFr281 million) in damages over losses stemming from mortgage securities that had turned sour. HSH accused UBS of fraudulent actions related to US$500 million in collateralised debt obligations. UBS reacted with a lawsuit, filed in London, that defended its…

Counterfeiters prefer euros to dollars

This content was published on Jul 4, 2008 But while the figure for false euros rose by 1,295 to 3,389, the number of forged dollar bills seized dropped from 2,482 in 2006 to 1,579 in 2007. The most popular note with counterfeiters was 100 euros, which accounted for 40 per cent of the seizures, followed by 50 euros (30 per cent) and 200…

UBS optimistic about second quarter

This content was published on Jul 4, 2008 The bank, that has been hit hard by the United States subprime crisis and is currently embroiled in a US tax evasion probe, said it would benefit from a SFr3 billion tax credit. UBS said the credit would offset further investment banking losses. “The results reflect positive contributions from global wealth management and business banking…

Swiss head for sun, sea and sand

This content was published on Jul 3, 2008 The weak dollar and less fear of terrorism means that trips to the United States are also undergoing a boom, report travel agencies. Summer is here and the Euro 2008 football championships are over. The Swiss are in the holiday mood, and for many of them this means heading off to the sun. Switzerland’s main…

No relief from aircraft noise in Zurich

This content was published on Jul 3, 2008 The Federal Office of Civil Aviation (FOCA) said in a statement on Thursday that the proposed northern approach to the airport did not meet the highest safety standards. FOCA said pilots would have had to steer aircraft to the runway during the final approach without the aid of an instrument landing system. The airport authorities…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Novartis buys into eye care specialist

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Washington Post gets new executive editor

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Move to ban pollutant cars gathers pace

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Central bank is confident about present policy

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Companies boost climate commitment

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UBS countersuit turned down by High Court

More

Counterfeiters prefer euros to dollars

More

UBS optimistic about second quarter

More

Swiss head for sun, sea and sand

More

No relief from aircraft noise in Zurich

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