Archive – Banking & Fintech

Unions sound alarm over widening wage gap

This content was published on Jun 23, 2008 Top management pay rises were between ten and 20 per cent last year, said Travail Suisse on Monday. The gap between management wages and the minimum wage paid grew in 26 of the 28 companies examined. The data are based on a regular survey of 24 publicly listed companies, the country’s two leading retailers as…

Central bank “vigilant” as economy cools

This content was published on Jun 19, 2008 The central bank said the inflationary trend was “temporary” and that the expected slowdown in the economy should have a moderating effect, bringing inflation below the two per cent level in 2009. It is the third time in nine months that the SNB has held steady the band in which interest rates move, at 2.25…

Central bank “vigilant” amid cooling economy

This content was published on Jun 19, 2008 The central bank said on Thursday that the inflationary trend was “temporary” and that inflation will fall below the two per cent level in 2009. It was the third time in nine months that the SNB has held steady the band in which interest rates move, at 2.25 per cent to 3.25 per cent, as…

More money demanded for public transport

This content was published on Jun 19, 2008 The Swiss Transport and Environment Association said on Thursday that public transport projects already in planning stages would cost SFr14 billion ($13.42 billion) by 2030. The association says most of the money could come from Switzerland’s fuel tax, if the revenues from the tax were split evenly between public transport and road infrastructure. Currently, half…

Euro 2008 economic boost yet to materialise

This content was published on Jun 19, 2008 A report last year predicted a SFr1.5 billion ($1.44 billion) revenue boost from the championships, co-hosted by Switzerland and Austria, but many firms hoping to cash in on the football fever have experienced disappointing results. The Fan Mile in Zurich has earned the unwelcome “yawn mile” tag with food and drinks vendors, who paid up…

Trains run on time for football fans

This content was published on Jun 19, 2008 The Railways said more than a million passengers have taken advantage of the 2,700 additional trains put in service for the event so far. The Swiss rail service has also lived up to its punctual reputation with nearly all trains departing and arriving on schedule, the management said in Bern on Thursday. “From our point…

Swiss brand still stands for quality

This content was published on Jun 19, 2008 A survey of 8,000 foreign consumers has confirmed Switzerland’s image as a land of expensive but efficient goods. The report coincides with a debate on how to protect the Swiss brand from fraud. The Swissness Worldwide report, unveiled on Wednesday at the Swiss Brands 08 conference in Zurich, presented an overwhelmingly positive perception of Swiss…

Critic raises stake in UBS

This content was published on Jun 18, 2008 The firm now owns 2.5 per cent of the bank’s capital, demonstrating what it called in a statement on Wednesday “its belief in the potential restoration of shareholder value through decisive action on the part of the UBS board”. Olivant announced in April that it had taken a 1.1 per cent stake in the bank,…

Roche invests in national sites

This content was published on Jun 17, 2008 The company will spend SFr550 million on a new office tower at its headquarters in Basel, which will be the tallest building in Switzerland. It will be 154 metres high when completed and home to 2,400 employees, including 1,700 currently scattered across other sites. Roche will invest another SFr250 million on a building for research…

Experts gear up to counter bee deaths

This content was published on Jun 17, 2008 Specialists are particularly concerned by the potential impact on agriculture and food production, as bees play an important role in pollinating plants. The problem is considered so serious that a bee health service might be even on the cards. Around 20 per cent of hives in Switzerland did not survive last winter, double what is…

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