Archive – Banking & Fintech

Serving Swiss rösti on the beach

This content was published on Mar 25, 2008 Sandi and her business partner Patrick – both from Zurich – run a small guesthouse and restaurant with dishes that are rather exotic for the Indian subcontinent. “When we started the restaurant nine years ago, you couldn’t get salads around here or a good plate of spaghetti. Pasta and rösti were the things I missed…

Egyptian investor sets up Swiss holding company

This content was published on Mar 25, 2008 OD Holding, located in Altdorf in central Switzerland, will be the new headquarters of the family business Orascom Group, headed by Sawiris. The new OD Holding will launch a public share swap at the end of March. All existing shareholders in the business will be offered one new OD Holding share for every ten shares…

Cargo workers’ strike to continue

This content was published on Mar 25, 2008 The strikers’ committee said the 18-day strike would continue after Federal Railways broke off the talks in Bern on Monday evening. The strike was called after the loss-making freight unit announced plans to axe around 400 jobs – 126 of them in Italian-speaking Bellinzona. Both sides blamed each other for the failure of the talks.…

Government confident despite banking woes

This content was published on Mar 23, 2008 The leading UBS bank says it is considering a request for a fresh capital injection of SFr10 billion ($9.9 billion) as analysts expect additional massive writedowns. Merz told the SonntagsBlick newspaper that a bank’s capital resources must have a certain ratio to its loaned out money. “That is the case with our banks. There is…

Nestlé boss warns against promoting biofuels

This content was published on Mar 23, 2008 Peter Brabeck said planned subsidies for biofuels were irresponsible and immoral and would lead to higher prices for food staples, including maize, soya and wheat. Commodities hedge funds and increasing demand for soil and water could have a disastrous impact on food production, he told the NZZ am Sonntag newspaper. His statement comes in the…

Lufthansa makes Swiss shareholder payout

This content was published on Mar 21, 2008 Those benefiting from the deal include the Swiss government, which receives more than SFr63 million, as well as the big banks UBS and Credit Suisse. They will receive the payment because Lufthansa shares outperformed competitor airlines, said a statement posted on the Swiss company website. The success of Swiss during the three years since it…

Bank accuses traders of intentional misconduct

This content was published on Mar 20, 2008 Last month the bank heralded comparatively solid 2007 results, but a week later had to write off a further $2.85 billion (SFr2.86). It issued a profits warning on Thursday despite reducing this figure slightly. Shares in Switzerland’s second biggest bank initially slid more than ten per cent on the news and ended Thursday more than…

Cargo workers reject call to return to work

This content was published on Mar 20, 2008 On Thursday, the union representing 430 employees at the Swiss Federal Railways Cargo site said its members would not return to work until their positions were guaranteed. Transport Minister Mortiz Leuenberger had pushed for roundtable talks and suggested that the Railway’s controversial decision to close the Bellinzona plant would be revisited. Union leader Gianni Frizzo…

Rail cuts rile trade unions

This content was published on Mar 20, 2008

Protest and politics influence cargo debate

This content was published on Mar 19, 2008 Wednesday’s appeal came as parliament debated the restructuring of the money-losing cargo division of Swiss Federal Railways while thousands of strikers demonstrated outside. “Federal Railways is ready to consider alternatives [to job cuts],” Leuenberger told parliament. Leuenberger added that his ministry would guarantee a fair and open dialogue. A priority now was roundtable talks. Earlier…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Serving Swiss rösti on the beach

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Egyptian investor sets up Swiss holding company

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Cargo workers’ strike to continue

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Government confident despite banking woes

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Nestlé boss warns against promoting biofuels

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Lufthansa makes Swiss shareholder payout

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Bank accuses traders of intentional misconduct

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Cargo workers reject call to return to work

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Rail cuts rile trade unions

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Protest and politics influence cargo debate

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