Archive – Banking & Fintech

Roots of American patriotism lead to Geneva

This content was published on Jul 4, 2005 This year is special, says Switzerland’s former consul in Boston, Xavier Comtesse, as Bern prepares for an even closer relationship with Washington. For more than 50 years, Geneva’s American International Club has organised the July 4 celebrations in the city. Over time, the festivities have attracted tens of thousands of spectators, far more than the…

Saia joins growing list of takeover targets

This content was published on Jul 1, 2005 Japan’s Sumida Corporation is to launch a public bid for the company later this month, valuing the company at SFr583 million ($454 million). The Swissfirst financial group, which is advising Sumida on the deal, said in a statement that the Japanese company would offer SFr950 per share. Sumida said late on Thursday that it had…

Rail network collapse was avoidable

This content was published on Jul 1, 2005 At a news conference on Friday the company also said the reason for the power failure was not a short circuit as had been thought, but an overloading of the line linking the southern canton of Ticino with the rest of the country. The investigation, which is still continuing, had shown that a breakdown on…

Swiss economic recovery seen slipping

This content was published on Jul 1, 2005 Numerous banks and research institutes had already lowered their expectations in the light of the weak economic situation in the European Union – Switzerland’s biggest export market. The State Secretariat for Economic Affairs (Seco) also lowered its forecast for gross domestic product (GDP) growth for 2006, to 1.5 per cent from 1.8 per cent. The…

Limited interest in Swiss IPOs

This content was published on Jul 1, 2005 Esmertec, a developer of software for mobile phones, was supposed to float on the SWX last week, but has postponed the move indefinitely. Esmertec’s first postponed its market launch in order to inform subscribers about a patent claim initiated by British rival, Tao Group of Reading. A few days later, Esmertec said the bankruptcy of…

Eating habits put retailers under pressure

This content was published on Jul 1, 2005 Facing increased pressure at work, consumers would rather cut short their meals during the day and enjoy a more leisurely dinner in the evening. The report, published by St Gallen University’s Institute of Marketing and Retailing, highlights the shifting eating habits of the Swiss. These changes have led to a more fragmented marketplace for suppliers…

OECD calls for increased Swiss development aid

This content was published on Jul 1, 2005 The recommendations are included in a report by the OECD’s Development Assistance Committee, which studied Swiss aid projects. Reacting to the criticism, the head of the Swiss Agency for Development and Cooperation (SDC), Walter Fust, said he had tried to explain to the committee the budget constraints that his agency was under. Fust was speaking…

Banks are prepared for savings tax

This content was published on Jun 30, 2005 The accord, part of a second set of bilateral treaties, leaves Swiss banking secrecy intact. “For the first time in its history Switzerland will collect taxpayers’ money for other states,” Thomas Sutter, spokesman for the Swiss Bankers Association, told swissinfo. “For the banks, that comes with a considerable bill. “Banks have had to adapt their…

Leica Geosystems goes on the offensive

This content was published on Jun 30, 2005 The Swiss measuring equipment maker said in a statement on Thursday that the buy-back programme will be realised provided the company remain independent. In addition to announcing the bait for shareholders, Leica also laid down its financial targets for 2007-2009, saying it was aiming for annual growth of ten per cent in the period. It…

ABB cuts 1,300 jobs worldwide

This content was published on Jun 30, 2005 The cuts which are expected to lead to lower net profit in the second quarter, form part of a $240 million (SFr307 million) consolidation programme. The company said costs stemming from an asbestos litigation settlement were also likely to have a significant impact on business results. ABB said on Thursday it was “consolidating its global…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Roots of American patriotism lead to Geneva

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Saia joins growing list of takeover targets

More

Rail network collapse was avoidable

More

Swiss economic recovery seen slipping

More

Limited interest in Swiss IPOs

More

Eating habits put retailers under pressure

More

OECD calls for increased Swiss development aid

More

Banks are prepared for savings tax

More

Leica Geosystems goes on the offensive

More

ABB cuts 1,300 jobs worldwide

Popular Stories

Most Discussed