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US buyers target Swiss chip firms

This content was published on Jun 24, 2005 In the latest deal, Californian semiconductor manufacturer Semtech is buying Swiss wireless chipmaker and spin-off from the Swiss Center for Electronics and Microtechnology (CSEM), Xemics SA. The Swiss subsidiary of the US chipmaker, Semtech International AG, will pay up to $59 million (SFr75 million) in cash to the shareholders of Neuchâtel-based Xemics. The transaction is…

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Overheating oil prices set to cool economy

This content was published on Jun 24, 2005 Experts are warning that Switzerland’s economy will suffer and growth will be hindered if the cost of oil does not drop. On Thursday a barrel of crude briefly crossed the $60 (SFr77) threshold in New York, establishing a new record. Trading closed at $59.42. North Sea Brent crude oil, usually considered the most expensive, closed…

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Rail chaos raises fundamental questions

This content was published on Jun 23, 2005 The Swiss Federal Railways said the unprecedented nationwide standstill on Wednesday was due in part to structural weaknesses in its power supply system. Rail operators in several other European countries are now adding to the public outcry by suggesting that, while a similar incident could hit their own networks, it would almost certainly not affect…

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Cabinet aims to ease tax burden on families

This content was published on Jun 23, 2005 The move comes after Swiss voters overwhelmingly turned down a package including tax breaks last year. In Switzerland, a husband and wife pay more in taxes than an unmarried couple who live together. Under pressure after the rejection of the package, Finance Minister Hans-Rudolf Merz said that a new plan would be put forward in…

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Short circuit paralysed railway network

This content was published on Jun 23, 2005 The company admitted the breakdown was due partly to structural weaknesses in its electrical grid. The short circuit happened on a power line in central Switzerland, leading to a four-hour failure. With no back-up lines available because of construction work, all the current generated by the company’s power stations north of the Gotthard Pass was…

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Short circuit paralysed railway network

This content was published on Jun 23, 2005 Services were returning to normal on Thursday after the nationwide shutdown left 200,000 passengers stranded. The first trains began running again at around 8:15pm on Wednesday evening, more than two hours after the entire system collapsed – the first time in its history that the Federal Railways has suffered such a breakdown. International inter-city trains…

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Swiss trains back on track

This content was published on Jun 23, 2005 The Railways said a short circuit on one of its power lines prompted a chain reaction that led to the outage all over the country. The first trains began running again at around 8:15pm on Wednesday evening, more than two hours after the entire system collapsed – the first time in its history that the…

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UBS in partnership talks with Bank of China

This content was published on Jun 23, 2005 In a statement on Thursday, UBS said there was also “the possibility” that it would invest about $500 million (SFr600 million) to become a strategic investor in BOC. UBS said the “mutually beneficial” partnership would include commercial cooperation “in certain areas of investment banking yet to be agreed”. The statement added only that talks were…

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UBS in partnership talks with Bank of China

This content was published on Jun 23, 2005 In a statement on Thursday, UBS said there was also “the possibility” that it would invest about $500 million (SFr600 million) to become a strategic investor in BOC. UBS said the “mutually beneficial” partnership would include commercial cooperation “in certain areas of investment banking yet to be agreed”. The statement added only that talks were…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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The day the trains stopped running…

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US buyers target Swiss chip firms

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Overheating oil prices set to cool economy

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Rail chaos raises fundamental questions

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Cabinet aims to ease tax burden on families

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Short circuit paralysed railway network

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Short circuit paralysed railway network

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Swiss trains back on track

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UBS in partnership talks with Bank of China

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UBS in partnership talks with Bank of China

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