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Economy expected to weather financial storm

This content was published on Aug 19, 2007 Roth told the NZZ am Sonntag newspaper that domestic demand was strong as were consumer figures. Roth’s remarks follow an earlier warning by SNB board member Philipp Hildebrand, who said that turmoil in credit markets could affect economic growth even though it was premature to give a detailed appraisal. High default rates for US sub-prime…

Swiss send aid and experts to Peru

This content was published on Aug 17, 2007 While Swiss experts evaluate the situation and help coordinate aid in the devastated region, the Swiss Red Cross and Swiss Catholic charity Caritas have each sent SFr50,000 ($41,500) to go towards emergency aid. Also on Friday the Geneva-based International Federation of Red Cross and Red Crescent Societies issued a preliminary emergency appeal for SFr1.6 million…

Leuenberger pushes for post-Kyoto carbon tax

This content was published on Aug 16, 2007 This, he said, would reduce emissions by 1.5 per cent a year after the expiry of the Kyoto Protocol. But various environmental and trade organisations have criticised the plan’s cost and effectiveness. Presenting possible guidelines for the government’s future climate policy in Bern on Thursday, Leuenberger said climate change had economic as well as ecological…

Zurich Financial weathers floods

This content was published on Aug 16, 2007 Switzerland’s largest insurer said on Thursday that the subprime mortgage crisis in the United States had not hurt its business. “The group has no material exposure to US subprime debt or CDO [collateralised debt obligations] equity tranches in its investment portfolio and did not incur any impairment on these for the half year,” Zurich said…

Mattel recall takes toys out of kids’ pockets

This content was published on Aug 15, 2007 Tuesday’s recall came nearly two weeks after Mattel recalled 1.5 million Fisher-Price toys from around the world, which were also made in China. The main problem in the recent case is that the toys contain tiny magnets that could be swallowed by small children. Around 600 die-cast “Sarge” cars have also been recalled in Switzerland…

Swiss dairy farmers milk high global demand

This content was published on Aug 15, 2007 It has also prompted calls for higher milk prices for dairy farmers producing mainly for the domestic market and renewed pressure on the agriculture sector amid moves towards liberalising global trade. The price of low-fat milk powder has more than doubled on international markets since the beginning of the year, creating an unusual situation for…

Nestlé sparkles and thanks its shareholders

This content was published on Aug 15, 2007 Nestlé on Wednesday posted a first-half net profit of SFr4.916 billion ($4.05 billion), up 18.4 per cent on comparable figures from last year. The Nestlé figures and details of the share repurchase programme had a positive influence on the company’s share price. At the end of trading, it had risen to SFr494.50, a 9.46 per…

War history

This content was published on Aug 14, 2007

UBS shines, but warns of clouds on horizon

This content was published on Aug 14, 2007 Despite the strong result, which beat analysts’ expectations, UBS warned that profits in the second half of the year were likely to be lower than a year ago because of market turmoil. Over the first six months of the year UBS accumulated a net profit of SFr8.897 billion – a record for Switzerland’s largest bank.…

German baron wins Von Roll battle

This content was published on Aug 13, 2007 At an extraordinary general meeting in Zurich on Monday, shareholders elected four additional board members, all nominated by the minority shareholder group. The vote gives the von Finck family, which owns a 31 per cent stake in Von Roll, five out of a total of nine seats on the board compared with the current one…

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Economy expected to weather financial storm

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Swiss send aid and experts to Peru

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Leuenberger pushes for post-Kyoto carbon tax

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Zurich Financial weathers floods

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Mattel recall takes toys out of kids’ pockets

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Swiss dairy farmers milk high global demand

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Nestlé sparkles and thanks its shareholders

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War history

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UBS shines, but warns of clouds on horizon

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German baron wins Von Roll battle

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