Archive – Banking & Fintech

Top banker tries to explain his “Nazi” comment

This content was published on Feb 22, 2008 Private banker Pierre Mirabaud drew a comparison between how the intelligence agency – the Bundesnachrichtendienst – was now cracking down on tax evaders and the secret police of the Nazis. His remarks came in an interview with French-language television on Wednesday. Mirabaud was asked whether Swiss bank employees could be tempted to disclose information, after…

Ski resorts pay high price to survive

This content was published on Feb 22, 2008 But it is an uphill struggle for most ski areas to find the funds that will help secure their future by investing in amenities and infrastructure, such as luxury hotels and snowmaking. “If you target the wealthy, you will have stable and higher revenues in the long-run,” said tourism expert Thomas Bieger, explaining the dilemma…

Insurer weighs up introducing “fat” premiums

This content was published on Feb 21, 2008 An organisation representing the obese has criticised any attempt to link premiums to body mass index (BMI), saying this would constitute discrimination. “We are a bit concerned about the fact that again, obese people are discriminated against,” Heinrich von Grünigen, head of the Swiss obesity foundation, told swissinfo. He insisted that a customer’s BMI should…

UBS wants Ospel to stay

This content was published on Feb 21, 2008 However, UBS said in a statement on Thursday that it wanted to cut Ospel’s tenure – and that of any new or re-elected board members – to one year from the previous three years. Ospel has come under heavy pressure after the bank posted a SFr4.38 billion ($3.96 billion) loss last year as a result…

Nestlé profit breaks SFr10 billion

This content was published on Feb 21, 2008 Sales were up over nine per cent, at SFr107.6 billion. Vevey-based Nestlé said it expected its momentum to carry on into 2008 and announced it would propose a one-for-ten share split to increase the liquidity of its stock. “This milestone performance was achieved in a difficult external environment and, for the 12th year in a…

German scandal puts tax havens in spotlight

This content was published on Feb 20, 2008 Switzerland is not implicated in the German probe even though a Munich branch of the UBS bank was raided as investigators sought evidence on a client. However, Swiss banks have long been accused of harbouring undeclared riches. The tax scandal currently gripping Germany has claimed the job of former Deutsche Post boss Klaus Zumwinkel, who…

Switzerland to help Liberia debt relief

This content was published on Feb 20, 2008 The International Monetary Fund (IMF) decided last September on measures to help Liberia clear its arrears and to provide debt relief. The country faces an estimated debt of $4.8 billion (SFr5.3 billion). The total relief Liberia is to receive from the IMF and World Bank amounts to SFr970 million. A Swiss finance ministry spokesman said…

Record number of aircraft in the Swiss skies

This content was published on Feb 20, 2008 The Geneva-based company, which is responsible for air navigation services in Swiss airspace, reported on Wednesday that for the first time ever it had handled over two million movements. Flight movements is the term used to cover take-offs and landings in Switzerland as well as transit flights. Despite the increase in air traffic volume, Skyguide…

Coop reaps exceptional harvest in 2007

This content was published on Feb 19, 2008 Coop, which is number two in the Swiss retail trade behind Migros, increased its net profit by 12.9 per cent to SFr350 million ($319.85 million). Coop said on Tuesday its market share had moved up half a percentage point to 15.8 per cent. Tuesday’s announcement came a month after the group reported a 7.1 per…

Road deaths up for first time in four years

This content was published on Feb 19, 2008 Reversing a recent trend, 384 people were killed last year, compared with 370 in 2006, according to an annual study by the Swiss Council for Accident Prevention. Eighty-two motorcyclists died, up from 69 in the previous year, but the number of cyclist deaths fell by 14 per cent over the same period. Speed and drink-driving…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Top banker tries to explain his “Nazi” comment

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Ski resorts pay high price to survive

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Insurer weighs up introducing “fat” premiums

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UBS wants Ospel to stay

More

Nestlé profit breaks SFr10 billion

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German scandal puts tax havens in spotlight

More

Switzerland to help Liberia debt relief

More

Record number of aircraft in the Swiss skies

More

Coop reaps exceptional harvest in 2007

More

Road deaths up for first time in four years

Popular Stories

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