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UBS One Bank U-turn intensifies speculation

This content was published on Aug 13, 2008 One expert believes the U-turn by Switzerland’s biggest bank keeps its options open, but a final decision on selling off businesses will not be made until new board members have a chance to settle in. UBS’s much-vaunted One Bank integrated model was designed to maximise profits by passing clients and their assets from one division…

Mickey Mouse seeks inspiration in Zurich

This content was published on Aug 12, 2008 The Walt Disney Company, creator of Mickey Mouse and Donald Duck, will set up its first research laboratory outside the United States at Zurich’s Federal Institute of Technology. The deal represents another coup in the institute’s drive to position itself as a global centre of excellence following the announcement of a $90 million (SFr98 million)…

Couchepin ends Asian tour on economic note

This content was published on Aug 12, 2008 About 60 companies were present at a meeting on Tuesday in the capital, Manila, along with three local government ministers, according to Couchepin’s spokesman. The ministers called for more Swiss investment in the Philippines, while company representatives praised the country as an attractive place to do business because of the young, well-trained and affordable labour…

UBS repositions itself after Q2 loss

This content was published on Aug 12, 2008 The move on Tuesday came as Switzerland’s largest bank reported a second-quarter loss of SFr358 million ($328.3 million), slightly worse than analysts had expected. The loss compares with a SFr5.5 billion profit a year earlier and was cushioned by SFr3.8 billion in tax credits. The bank also reported heavy fund outflows of SFr17.3 billion in…

Holocaust bank settlement “cleansed” Swiss

This content was published on Aug 11, 2008 But the $1.25 billion (SFr1.33 billion) settlement, sealed in 1998, also caused significant upheaval in Switzerland as the country faced allegations of colluding with Nazis during the Second World War. When Jewish organisations again raised questions in the mid-1990s about dormant Swiss bank accounts containing the assets of Holocaust victims, nobody could predict the storm…

Swiss build a high-tech bridge to China

This content was published on Aug 9, 2008 Swissnex Shanghai – the first centre in China and fourth in the world – officially opened this week, establishing a strong foothold in the burgeoning research and development sector in the world’s most populous country. China, the giant empire built on low wages and massive manufacturing capacity, is now in the fast lane and on…

Aids conference highlights human rights

This content was published on Aug 8, 2008 A Swiss delegation attended the five-day Aids 2008 meeting, which was the first of its kind in Latin America. In all, around 25,000 people from across the globe, including many world-renowned leaders and researchers, took part. “The voices of those who bear the brunt of this pandemic have been loud and clear in Mexico City…

UBS forced to buy back “mis-sold” investments

This content was published on Aug 8, 2008 UBS confirmed the settlement on Friday just a week after paying out SFr4.6 million to investors in Massachusetts. A top lawyer recently stepped down at the bank in connection with the auction rate securities (ARS) probe. UBS said in a statement issued on Friday evening that it had made the agreement in principle with the…

Engineers to remain in jail over nuclear probe

This content was published on Aug 8, 2008 The Swiss Federal Court upheld a ruling by the Criminal Court earlier this year which ordered the Tinners to remain in custody pending the outcome of an investigation. But judges also called on the authorities to speed up the procedure or release the brothers who have been detained since 2005, according to court statement on…

Football championships bad for hotel business

This content was published on Aug 8, 2008 Swiss hotels registered a 2.6 per cent drop in bookings in June compared with the previous year, despite predictions by the country’s hotel and tourism industry that football fans would account for an additional 500,000 nights during the month. Foreign visitor numbers were down 1.1 per cent, while the number of Swiss overnights was down…

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UBS One Bank U-turn intensifies speculation

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Mickey Mouse seeks inspiration in Zurich

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Couchepin ends Asian tour on economic note

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UBS repositions itself after Q2 loss

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Holocaust bank settlement “cleansed” Swiss

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Swiss build a high-tech bridge to China

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Aids conference highlights human rights

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UBS forced to buy back “mis-sold” investments

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Engineers to remain in jail over nuclear probe

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Football championships bad for hotel business

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