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Calm first quarter boosts profits for Swiss Re

This content was published on May 4, 2012 In a statement on Friday, Swiss Re said strong underwriting and good investment performance had also contributed to the positive result. Across the group, premiums earned increased by 21.7 per cent to $6.2 billion compared with $5.1 billion a year earlier and was driven recently by strong renewals, the company said. The reinsurance division reported…

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Shareholders vent anger at UBS annual meeting

This content was published on May 3, 2012 Board members and senior management were told they “should be ashamed of themselves”, and when the vote was taken almost 40 per cent of the 3,400 shareholders present voted to reject the company’s remuneration plan. In his address to the meeting, outgoing chairman Kaspar Villiger said the bank had revised its remuneration policy following strong…

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Lack of transparency hampers Swiss press

This content was published on May 3, 2012 A few weeks ago, the village assembly in Grandcour, canton Vaud, decided to deliberate two financial transactions behind closed doors and away from journalists. Nothing extraordinary moneywise, but a situation that may seem a little strange in the age of social media and Wikileaks, where transparency has become a catch cry for many. While such…

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Jobs saved at Petroplus Cressier refinery

This content was published on May 3, 2012 The Cressier site, which employs 260 people, has been closed since mid-January when Zug-based Petroplus revealed that liquidity problems had forced it to cease operations at three of its five European refineries. Dutch-Swiss commodities trading company Vitol Group said in a statement on Thursday that the new Varol joint venture would acquire the Cressier refinery…

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Mixed results for Switzerland’s largest bank

This content was published on May 2, 2012 First-quarter net profit fell to SFr827 million ($910 million) from SFr1.81 billion for the same period last year. The bank released the figures on Wednesday morning before trading opened in Zurich. However, the results were up on the last quarter of 2011, when the bank posted a net profit of only SFr319 million. Shares of UBS…

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Swiss workers call for higher, fairer salaries

This content was published on May 1, 2012 Having marched through the city in the middle of the morning, demonstrators gathered at Bürkliplatz on the edge of Lake Zurich. Paul Rechsteiner, senator and president of the Swiss Federation of Trade Unions, called for an equitable national policy for “reasonable” salaries as well as collective work agreements to ensure that “everyone benefits from the…

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What future for the younger generation?

This content was published on May 1, 2012 Switzerland has had a good economic outlook, with employment on the rise, both before and just after the financial crisis. “And when employment rises, it is usually young people who benefit,” explained Serge Gaillard, of the State Secretariat of Economic Affairs (Seco). But that is just a short-term factor, Gaillard, Seco’s head of labour directorate, told swissinfo.ch.…

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No progress made with Baden-Württemberg

This content was published on Apr 30, 2012 The Green Party politician met four members of Switzerland’s seven-person cabinet on Monday, including Eveline Widmer-Schlumpf, who holds the rotating presidency for 2012. But despite the high ministerial turnout, nothing shifted in the debate over tax evasion, which has soured relations between Bern and Berlin. In March, Swiss authorities issued arrest warrants for three German…

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National Bank makes first quarter loss

This content was published on Apr 30, 2012 “The SNB result depends largely on developments in the gold, foreign exchange and capital markets. Consequently, strong fluctuations are normal, and only provisional conclusions are possible as regards the annual result,” it said in a statement on its website announcing the results on Monday. Its losses on foreign currency positions amounted to SFr2.6 billion, while…

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Internal: Archive

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Glacier crash drama captivated the world

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Calm first quarter boosts profits for Swiss Re

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Shareholders vent anger at UBS annual meeting

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Lack of transparency hampers Swiss press

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Jobs saved at Petroplus Cressier refinery

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Mixed results for Switzerland’s largest bank

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Swiss workers call for higher, fairer salaries

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What future for the younger generation?

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No progress made with Baden-Württemberg

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National Bank makes first quarter loss

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