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Did Davos 2010 break or create barriers?

This content was published on Jan 31, 2010 But the overriding impression of the week was of a growing conflict between bankers, regulators and politicians that represents a significant first hurdle against a sustainable recovery. Gone was the pessimism and defensive tenor of last year’s forum, but it was replaced with a thirst for a fight as each side drew up battle lines.…

Swiss technology tackles greying society

This content was published on Jan 30, 2010 Swiss scientists in Davos outlined the latest medical, robotics, biomechanics and architectural research aimed at improving the lives of the elderly. But delegates also heard that tough political decisions would be necessary. All demographic projections point to a marked increase in the number of pensioners in the next 50 years, coupled with a significant downturn…

Informant offers to sell Swiss bank data

This content was published on Jan 30, 2010 Germany’s Frankfurter Allgemeine Zeitung on Friday said the informant had demanded €2.5 million (SFr3.68 million) for the data and German Finance Minister Wolfgang Schäuble was evaluating whether to agree to the deal. The informant gave tax auditors the data of five of the 1,500 cases to prove the validity of the information and an investigation…

Harsh rules “could drive bankers underground”

This content was published on Jan 29, 2010 Speaking at the World Economic Forum meeting in Davos, Patrick Odier said a ban on banks betting their own money on the markets (proprietary trading) could lead to some traders taking such activities under the regulatory radar. He also defended the biggest banks – labelled by some as “too big to fail” – for providing…

Economic recovery slowing down

This content was published on Jan 29, 2010 Growth in January was only 0.04 points up on December, the report said. Between September and October it had risen by 0.7 points but since then had become less pronounced. “The recovery of the Swiss economy is likely to slow down,” KOF warns. KOF, which is part of the Federal Institute of Technology in Zurich…

Slow economy pummels industrial group Rieter

This content was published on Jan 29, 2010 Figures released on Friday by the Winterthur-based concern showed turnover dropped to about SFr1.96 billion ($1.86 billion) compared with SFr3.14 billion in 2008. However, that was better than what analysts had expected. The group’s textile machine division suffered the worst, with turnover falling 53 per cent to SFr532 million in 2009 compared to SFr1.22 billion…

Investment urged for Swiss mountain farms

This content was published on Jan 29, 2010 Swiss Mountain Aid last year funded over 500 livelihood projects in the Swiss Alps to the tune of SFr20 million ($18.9 million) to help people carve out an existence in the tough alpine environment. “Huge solidarity is essential to keep the mountain regions alive,” Hugo Höhn, director of Swiss Mountain Aid, told a media conference…

Big business urged to restore Haiti’s economy

This content was published on Jan 28, 2010 Former United States President Bill Clinton appealed to the assembled executives to start doing business that would stimulate the economy, create jobs and form the basis of sustainable recovery in the Caribbean country. The devastating earthquake that struck Haiti earlier this month has left around 150,000 people dead and more than 200,000 injured. It also…

London mayor cautions bankers against Swiss move

This content was published on Jan 28, 2010 “I’m told there are parts of the Bern canton where a man may not urinate standing up after 10pm for fear of disturbing the neighbours,” Johnson told a reception hosted by a Japanese investment bank in the Swiss ski resort of Davos. Switzerland’s international banking and finance sector is primarily based in Geneva, Zurich and…

Switzerland-Italy rail link reopens after crash

This content was published on Jan 28, 2010 The line was back in operation at around 8:00pm, authorities said. The head-on collision, which happened between Brig and Iselle di Trasquera, occurred in the early hours of Thursday morning, close to the Simplon Tunnel beneath the Alps. A 1,280-ton train travelling at around five km/h ran directly into a 790-ton train travelling at 30…

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Did Davos 2010 break or create barriers?

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Swiss technology tackles greying society

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Informant offers to sell Swiss bank data

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Harsh rules “could drive bankers underground”

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Economic recovery slowing down

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Slow economy pummels industrial group Rieter

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Investment urged for Swiss mountain farms

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Big business urged to restore Haiti’s economy

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London mayor cautions bankers against Swiss move

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Switzerland-Italy rail link reopens after crash

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