Archive – Banking & Fintech

Vekselberg denies Kremlin influence

This content was published on May 22, 2008 Vekselberg’s holding company, Renova, has sent shockwaves through the Swiss manufacturing sector in the past two years by snapping up established companies such as Oerlikon and Sulzer. Speaking at the Swiss Economic Forum in Thun on Thursday, Vekselberg dismissed whispers that his operations are financed by Russian state funds and that he plans to make…

Industrial age

This content was published on May 22, 2008 The exhibition at the art centre in Langenthal provides insight into industrial Switzerland in the 20th century. “Industriebild Langenthal” (A picture of industry in Langenthal) includes a selection of images from local photographer Josef Gschwend (1858-1939), taken from the archives of the Ammann companies. The exhibition runs until June 29, 2008.

UBS issues shares to boost funds

This content was published on May 22, 2008 It will offer more than 760 million new shares at SFr21 each, one-third below the latest market price, the bank said on Thursday. UBS’s board of directors approved an increase in share capital through the issue of the shares on Wednesday and fixed the subscription price. An application has been made for trading in the…

Hotel stays nearing all-time high

This content was published on May 22, 2008 For the first time, the number of nights spent in the country’s hotels will exceed 37 million, according to BAK Basel Economics. The figure represents a five per cent increase on last year and is thanks to excellent snow conditions in ski resorts this past winter (+6.8 per cent), a favourable exchange rate and the…

Ageing population is financial time bomb

This content was published on May 21, 2008 The financial situation will be critical in 2050 with public debt equivalent to 130 per cent of Gross Domestic Product. Officials are recommending that social security financing be urgently reviewed to lessen the impact of demographic change. “The longer it takes for the necessary reforms to be implemented, the tougher they will have to be,”…

UBS offloads subprime risks

This content was published on May 21, 2008 The United States securities – mostly subprime and so-called Alt-A residential mortgages – have a nominal value of $22 billion, with New York-based BlackRock getting a 32 per cent discount as part of the deal. BlackRock will try to sell the mortgages when the markets recover and has held similar discussions with financial institutions around…

Speculation and media buzz mark Buffett tour

This content was published on May 21, 2008 Visiting Switzerland on Tuesday, Nebraska-based Buffett spoke of long-term currency trends, the United States economy and his personal philosophy about gobbling up companies. But when the conversation moved to the particulars – what, where and when to buy, and Europe specifically – Buffett played coy. “I would be delighted to find the right kind of…

Coalition forms to fight for paternity leave

This content was published on May 20, 2008 The coalition of trade unions, religious organisations and men’s and father’s groups came together on Tuesday to call for new legislation offering men 20 days’ leave. But the Swiss Employers Association responded that such legislation would not work, raising labour costs and adversely affecting small and medium-sized businesses. By joining forces, the coalition – comprising…

EU voices concern over Swiss-seized medicine

This content was published on May 19, 2008 The EU annual report on customs operations published on Monday ranked Switzerland as the main source of seized fake medicines, above India and the United Arab Emirates. The Swiss authorities say the EU report should not be a cause for alarm as the figures were based on one particular consignment of drugs. Five shipments totalling…

Transport minister broaches rail IPO

This content was published on May 18, 2008 In an interview published in the SonntagsZeitung newspaper, he suggested the government might allow an initial public offering (IPO) for a minority of shares in the public company. “For additional investments, more revenue sources are required,” he said. He said that majority control of the railway system, which is facing increasing demand, would remain in…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Vekselberg denies Kremlin influence

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Industrial age

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UBS issues shares to boost funds

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Hotel stays nearing all-time high

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Ageing population is financial time bomb

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UBS offloads subprime risks

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Speculation and media buzz mark Buffett tour

More

Coalition forms to fight for paternity leave

More

EU voices concern over Swiss-seized medicine

More

Transport minister broaches rail IPO

Popular Stories

Most Discussed