Archive – Banking & Fintech

Kuoni posts record results

This content was published on Mar 13, 2008 The company said the result was above the market average and came despite pressure on business margins. Sales, which grew 15 per cent to SFr4.7 billion, were boosted by beneficial conditions and a favourable economic climate, according to a company statement. Kuoni is cautiously optimistic for the current year as booking levels in the tour…

Nestlé bets on premium chocolate

This content was published on Mar 13, 2008 High-quality chocolate is currently enjoying a worldwide boom, with the market growing by eight per cent a year, and Nestlé intends to increase its share by developing recipes and products in the new centre. The company’s Chocolate Centre of Excellence is to be located inside the company’s Cailler factory at Broc in canton Fribourg and…

Railways boss proposes end to strike

This content was published on Mar 12, 2008 Railway’s head Andreas Mayer made the proposal after a meeting with Transport Minister Moritz Leuenberger, and cantonal government representatives as well as parliamentarians from cantons Ticino and Graubünden. Union representatives were not invited. Employees have been striking at the locomotive maintenance workshops in Bellinzona, canton Ticino, since cutbacks and a transfer of their work to…

Swiss boasts it has reached “cruising altitude”

This content was published on Mar 12, 2008 But a leading aviation analyst told swissinfo that a lack of detailed information meant it was hard to draw any firm conclusions about the financial health of Switzerland’s former national carrier. Swiss’s earnings before interest and taxes (EBIT) rose from SFr231 million ($225 million) in 2006 to SFr571 million last year. Total income from operating…

Die Schweiz in 12 Bildern

This content was published on Mar 11, 2008

Swiss Re assesses catastrophe losses for 2007

This content was published on Mar 11, 2008 The world’s largest reinsurer reported on Tuesday that more than 20,000 people died, and insurers were hit by claims worth $28 billion. Swiss Re said that Europe was “unusually hard-hit” by natural catastrophes. In January, the Kyrill storm caused insured losses of $6.1 billion across Germany, Britain, Belgium and the Netherlands. Summer floods in Britain…

Banking commission plans action against Laxey

This content was published on Mar 11, 2008 The Federal Banking Commission in Bern said it was filing a criminal complaint with the Swiss finance ministry, claiming Laxey had not properly disclosed its holding. In a statement, the commission said that Laxey had placed Implenia shares with other parties, allowing it to retain voting control over the shares for several years. This is…

Mail models

This content was published on Mar 11, 2008 More and more post offices are being closed in Switzerland, having fallen victim to cost-cutting measures. Photographer Jean-Luc Cramatte took snapshots of this national symbol of reliability between 2002 and 2007, visiting 150 offices in western Switzerland. (Pictures: © Jean-Luc Cramatte)

Austria beats Switzerland in top destinations

This content was published on Mar 11, 2008 Zermatt came in second in a survey of 100 holiday destinations, ahead of Engelberg (fifth), Lucerne (11th) and St Moritz (14th). Austrian resort Kleinwalsertal topped the list. The results presented on Monday by the research organisation show that eight Austrian towns were among the top 15. The survey only considered destinations receiving at least 150,000…

Swiss Life profits from Gottardo sale

This content was published on Mar 10, 2008 Swiss Life made SFr600 million ($585 million) in profit after tax from the SFr1.875 billion deal with Generali’s banking unit BSI, after it concluded the sale on March 7, the company announced on Monday. The deal consists of the purchase price of SFr1.775 billion and the bank’s dividend of SFr100 million for 2007. The final…

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