Archive – Banking & Fintech

UBS shines, but warns of clouds on horizon

This content was published on Aug 14, 2007 Despite the strong result, which beat analysts’ expectations, UBS warned that profits in the second half of the year were likely to be lower than a year ago because of market turmoil. Over the first six months of the year UBS accumulated a net profit of SFr8.897 billion – a record for Switzerland’s largest bank.…

German baron wins Von Roll battle

This content was published on Aug 13, 2007 At an extraordinary general meeting in Zurich on Monday, shareholders elected four additional board members, all nominated by the minority shareholder group. The vote gives the von Finck family, which owns a 31 per cent stake in Von Roll, five out of a total of nine seats on the board compared with the current one…

Supermarket sweeps up Rolling Stones

This content was published on Aug 11, 2007 Saturday’s sell-out gig in Lausanne by the British rock band is being billed as the biggest ever staged in French-speaking Switzerland and a major coup for the country’s leading retailer, Migros. The chain, which has a very un-rock ‘n’ roll ban on alcohol and tobacco sales due to its founder’s claim that they were a…

Swiss bourse joins the pack as jitters prevail

This content was published on Aug 10, 2007 The Swiss Market Index (SMI) of leading Swiss blue chips, which recorded a loss of 1.77 per cent on Thursday, was down 2.72 per cent at the end of trading to 8565.52 points. The European Central Bank on Friday intervened for a second time within 24 hours to add liquidity to money markets, with the…

“Happy hours” face government crackdown

This content was published on Aug 9, 2007 The move comes at a time of rising concerns about binge drinking in Switzerland, with health chiefs set to unveil a major alcohol awareness campaign in the autumn. Under Swiss legislation, the advertising and sale of spirits and fortified drinks at knockdown prices is strictly forbidden. But this has not stopped a growing number of…

Sonova is confident despite takeover failure

This content was published on Aug 8, 2007 The court ruling in Düsseldorf on Wednesday upheld a decision by the German competition authorities that Sonova’s proposed acquisition of rival ReSound would create an unfair monopoly. After the ruling was announced, Sonova said it was calling off its takeover attempt. “Since the main appeal procedure in Germany can take months or even years, Sonova…

Swisscom boosts profit and raises outlook

This content was published on Aug 8, 2007 Swisscom, which is controlled by the Swiss government, beat market forecasts with a 23.5 per cent rise in net profit to SFr936 million ($782.2 million) and raised its outlook for the year as a whole. The former state monopoly, which is based in Bern, reported that turnover rose 6.7 per cent to SFr5.09 billion in…

Swiss Re stays optimistic despite rising bills

This content was published on Aug 7, 2007 However, the world’s largest reinsurer by premiums says the outlook for the rest of the year remains strong, assuming an average level of natural catastrophes. The second half of each year is usually the costliest for reinsurers because of the United States hurricane season. Swiss Re, which is based in Zurich, said on Tuesday the…

Unions want fair share of company profits

This content was published on Aug 6, 2007 But Travail Suisse came out against individual wage hikes and is pushing for across-the-board increases. “Employees have so far not benefited from the economic boom,” said Susanne Blank of Travail Suisse at a news conference in Bern on Monday. The umbrella group represents about 160,000 workers and comprises unions with Christian roots, including Transfair, Syna…

Termination of Freemail accounts

This content was published on Aug 5, 2007 Dear Freemail user, At the beginning of July 2007 swissinfo was given a new mandate under which it is to concentrate on journalistic content. Services such as freemail will no longer be financed. Along with the revised mandate, our budget is also being cut, meaning that we will no longer have the resources to offer…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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UBS shines, but warns of clouds on horizon

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German baron wins Von Roll battle

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Supermarket sweeps up Rolling Stones

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Swiss bourse joins the pack as jitters prevail

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“Happy hours” face government crackdown

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Sonova is confident despite takeover failure

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Swisscom boosts profit and raises outlook

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Swiss Re stays optimistic despite rising bills

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Unions want fair share of company profits

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Termination of Freemail accounts

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