Archive – Banking & Fintech

Calmy-Rey says Swiss won’t capitulate to EU (DON’T USE)

This content was published on Mar 9, 2008 Her comments, in a Sunday newspaper, come as the debate continues in Europe over financial practices in countries which retain banking secrecy. Calmy-Rey told the SonntagsZeitung that she saw no need for action in response to a question about increased pressure from Germany and other countries over banking secrecy. A massive tax German tax evasion…

Thousands demonstrate over job cuts

This content was published on Mar 8, 2008 The demonstration in the southern town of Bellinzona comes a day after it was announced that more than 400 posts would be shed nationwide to help lift the freight operation out of the red. Swiss Federal Railways Cargo, which is state owned, suffered a loss of SFr190 million ($185 million) last year. The protest was…

Rail cargo workers protest over job cuts

This content was published on Mar 7, 2008 The state-owned company – which employs 4,600 nationwide – said that it would relocate another 200 jobs, mainly to the western town of Yverdon. Workers at one of the four affected sites immediately announced a strike. In total, the move will affect 13 per cent of the enterprise’s workforce. Employees at the group’s locomotive repair…

Needy turn to Caritas shops more often

This content was published on Mar 6, 2008 Purchases at the shops reached a record SFr4.2 million ($4.08 million) in 2007, up 51 per cent over the previous year. Caritas said the figures showed that “poverty is on the rise in Switzerland and that without the products on offer in the grocery stores, many families could not satisfy their basic needs”. The organisation,…

Credit woes highlight unprecedented situation

This content was published on Mar 6, 2008 In an interview with the Swiss French-language magazine L’Hebdo, Hildebrand spoke of “serious loopholes” in the United States subprime mortgage market that had led to the current crisis. “Many of the new instruments, which had not been tested so far, have been in a difficult situation. There is, without doubt, an element of surprise,” he…

Swiss bank halts Wikileaks suit

This content was published on Mar 6, 2008 Last month the Zurich-based bank succeeded in shutting down the website’s operations in the United States. Wikileaks had posted documents allegedly exposing illegal activities by Julius Bär customers in the Cayman Islands. The private bank claimed its documents were stolen and supplied to the site by a former employee. In early February filings, lawyers said…

Initiative hopes to tap tech talent

This content was published on Mar 5, 2008 The partnership will allow professors at the institutes in Lausanne and Zurich to receive money and resources for research into “embedded software” – a field that both industry and academics expect to grow rapidly over the coming years. Embedded software – or “invisible computing” – is a system or chip that permanently resides in a…

Cadbury heads for Rolle

This content was published on Mar 5, 2008 The British firm said that it would be employing up to 120 people, of which a third will be local, giving a boost to the French-speaking area. Cadbury Schweppes said in a statement that it had chosen the town on Lake Geneva because it was in the centre of Europe, was internationally focused and was…

Swisscom records healthy profit in 2007

This content was published on Mar 5, 2008 Swisscom said on Wednesday that net income had been boosted by the repurchase of the 25 per cent Vodafone stake in its mobile phone unit and the sale of its Hungarian unit, Antenna Hungaria. Sales were up by almost 15 per cent to SFr11.1 billion, the company said in a statement. These were driven by…

Tax evaders to be enticed in from the cold

This content was published on Mar 5, 2008 The long-debated amnesty, which gives people and businesses a one-off opportunity to regularise their situation penalty-free, has been inching its way through the political process for years. Those who come forward to the authorities admitting to tax evasion will not face any sanctions. They will only have to pay a maximum of ten years of…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Calmy-Rey says Swiss won’t capitulate to EU (DON’T USE)

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Thousands demonstrate over job cuts

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Rail cargo workers protest over job cuts

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Needy turn to Caritas shops more often

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Credit woes highlight unprecedented situation

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Swiss bank halts Wikileaks suit

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Initiative hopes to tap tech talent

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Cadbury heads for Rolle

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Swisscom records healthy profit in 2007

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Tax evaders to be enticed in from the cold

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