Archive – Banking & Fintech

UBS takes bigger than expected hit

This content was published on Oct 30, 2007 The bank is the latest high-profile institution to announce a big write-down on exposures to investments linked to US mortgage loans. UBS said on Tuesday that its pre-tax loss was SFr726 million ($624.8 million), the first in nine years for the third quarter. This loss was higher than most analysts expected, with estimates running at…

Banks rapped for Darfur “genocide” investments

This content was published on Oct 29, 2007 A deal by Switzerland’s biggest bank, UBS, to underwrite the Shanghai listing of Chinese oil firm PetroChina has come under particular scrutiny. The banks deny their deals help fund the violence. Some non-governmental organisations believe that the Sudanese government uses up to 70 per cent of its oil revenues to finance continued violence in conflict-ridden…

Bluetongue reaches Switzerland

This content was published on Oct 29, 2007 The illness, which is not considered dangerous for humans but can devastate animal herds, has spread from Germany and France and is affecting much of northwestern Europe. The Federal Veterinary Office announced on Sunday that six of 19 animals in a herd had tested positive for bluetongue. One cow presented severe symptoms and was put…

Are old ski lifts condemned to history books?

This content was published on Oct 29, 2007 They say these wooden lifts should be recognised as cultural assets and kept in operation, in the same way 100-year-old steamboats have remained in service on Swiss lakes. A ride aboard the “nostalgic chairlifts” either in the resort of Kandersteg in the Bernese Alps or in the Jura Mountains near Solothurn is a short, but…

New museum attraction is a walkover

This content was published on Oct 26, 2007 Visitors can effortlessly follow some of the routes that the Swiss slogged over for centuries on foot or by mule. One of the museum’s attractions is Swissarena, an aerial map of Switzerland on a scale of 1:20,000 – big enough to contain details down to the traffic on the roads, small enough to fit into…

Air pollution report takes breath away

This content was published on Oct 26, 2007 A governmental monitoring body said ozone, fine particles and nitrogen dioxide emitted by cars and trucks remained above limits last year. The National Air Pollution Monitoring Network (Nabel) said on Friday that urgent action was required to significantly reduce emissions of nitrogen dioxide, volatile organic compounds (VOCs), respirable fine particles and carcinogenic diesel particles and…

Roche loses EPO court case

This content was published on Oct 23, 2007 The Basel-based firm is now considering its options, including a possible appeal, and still maintains that the facts and the law support its position in the dispute. The jury, following a six-week trial, announced on Tuesday that it was of the opinion that all of the American firm’s patent claims were valid and that Roche’s…

OECD calls for farming reform

This content was published on Oct 23, 2007 In its 2007 report on its members’ farming policies, the Paris-based organisation said subsidies to prop up domestic prices had dropped significantly in Switzerland but there was still room for improvement. The OECD pointed out that in recent years support has globally shifted away from measures linked to specific commodities. But production-linked measures still dominate…

Two killed in shoot-out at Syngenta GM farm

This content was published on Oct 23, 2007 This is the latest in several such protests by the Landless Workers’ Movement (MST) in Brazil targeting multinationals in the agribusiness sector and what it sees as the “evil effects of genetically modified products”. Police said a peasant leader and a guard were killed at the Swiss-owned Syngenta research farm at Cascavel in the southern…

Hayek angles actor Clooney for energy venture

This content was published on Oct 20, 2007 Hayek, hailed as the saviour of the Swiss watch industry in the 1980s and a driving force behind the Smart car, added that Switzerland could become the world leader in renewable energies. In an interview in Saturday’s Berner Zeitung newspaper, Hayek said that the headquarters of the new holding company – yet to be named…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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UBS takes bigger than expected hit

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Banks rapped for Darfur “genocide” investments

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Bluetongue reaches Switzerland

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Are old ski lifts condemned to history books?

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New museum attraction is a walkover

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Air pollution report takes breath away

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Roche loses EPO court case

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OECD calls for farming reform

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Two killed in shoot-out at Syngenta GM farm

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Hayek angles actor Clooney for energy venture

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