Archive – Banking & Fintech

Stock markets rally after interest rate raise

This content was published on Jan 22, 2008 The index of Swiss blue chips (SMI) lost 4.5 per cent in the first minutes of trading and fell below the psychologically important 7,000-mark on fears of a US recession, but ended the day up 2.76 per cent at 7,487.92. Among the biggest winners of the day were Switzerland’s largest bank UBS and chemicals maker…

Price competition “damaging retailers”

This content was published on Jan 22, 2008 Shops are undermining profits and failing to bring in new customers, the St Gallen University consumer survey concludes. It advises retailers to concentrate on more innovative products. Competition in the retail market has increased in the past few years, particularly in the food sector where German discounters have made inroads into the Swiss market. High…

Roche buys US diagnostics firm Ventana

This content was published on Jan 22, 2008 Roche and Ventana Medical Systems signed a definitive agreement under which Roche will increase the purchase price in its tender offer from $75 to $89.50 per share. Ventana’s board of directors, which had previously rejected Roche’s advances, will recommend that shareholders accept the offer, according to a joint statement from both companies on Tuesday. In…

Swiss market plunges amid investor pessimism

This content was published on Jan 21, 2008 Major Swiss shares closed 5.6 per cent down compared with Friday – in the biggest one-day slide in nearly six years. The index of Swiss blue-chips (SMI) fell by more than 400 points to 7,287 points at the close at the Zurich stock exchange. The SMI even hit the 7,263 mark during the day to…

Firms drawn to ambitious green initiative

This content was published on Jan 21, 2008 The multi-billion dollar Masdar Initiative combines a carbon neutral city, a global research network and a venture capital fund. Swiss bank Credit Suisse is a major sponsor with other firms queuing up for a piece of the action. Two such companies will display their capabilities in the United Arab Emirate that hosts the world’s largest…

Prospecting for gas and oil in Lake Geneva

This content was published on Jan 20, 2008 This year Swiss firm Petrosvibri hopes to start drilling for gas deep beneath the lake’s crystal-clear waters opposite Montreux’s Chillon Castle. And French specialist oil companies are eager to begin looking for oil close to Geneva. With fossil fuel prices shooting through the roof – oil and gas have more than doubled since 2002 and…

Ethos calls for UBS chairman Ospel to go

This content was published on Jan 20, 2008 The director of the foundation, Dominique Biedermann, is calling for the bank’s chairman, Marcel Ospel, to step down at the annual shareholders’ meeting in April. UBS has been hit more than any other European bank by the United States subprime mortgage crisis, so far having to write down $14.5 billion (SFr15.9 billion). Biedermann told the…

Roche targets Basel for its European expansion

This content was published on Jan 18, 2008 The company said increased demand for biopharmaceuticals in its oncology division made the SFr480 ($435 million) investment necessary. It comes after a global review of manufacturing facilities. Some SFr150 million will be split between syringe–filling facilities at Kaiseraugst and at a site in the German city of Mannheim. Roche said the investment will provide stability…

Büsingen stands out, surrounded by Switzerland

This content was published on Jan 18, 2008 The picturesque village that lies on the River Rhine near Lake Constance is certainly out of the ordinary. It is a tiny German enclave totally surrounded by Switzerland. Politically, Büsingen belongs to Germany but economically it’s very Swiss. Local mayor Gunnar Lang, who was brought up in the village has been in the job for…

Swiss to head Gulf Air

This content was published on Jan 18, 2008 Näf joined the company as chief operating officer last April. At the time, another Swiss executive, André Dosé, was running the airline after leaving the helm of former national carrier Swiss International Airlines in 2004. Dosé only lasted four months as CEO before his contract was terminated by mutual agreement. Näf joined the company from…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Stock markets rally after interest rate raise

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Price competition “damaging retailers”

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Roche buys US diagnostics firm Ventana

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Swiss market plunges amid investor pessimism

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Firms drawn to ambitious green initiative

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Prospecting for gas and oil in Lake Geneva

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Ethos calls for UBS chairman Ospel to go

More

Roche targets Basel for its European expansion

More

Büsingen stands out, surrounded by Switzerland

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Swiss to head Gulf Air

Popular Stories

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