Edition:
United Kingdom

John Miller

Vanished communist cash still causing pain for Swiss bank Baer

05 Dec 2019

ZURICH Thirty years after the Berlin Wall fell, private bank Julius Baer is still fighting German government efforts to recover hundreds of millions in East German cash that vanished via Swiss accounts after the communist state collapsed.

Barry Callebaut cites progress in helping cocoa farmers tackle child labor

04 Dec 2019

ZURICH Swiss cocoa products maker Barry Callebaut said on Tuesday that 26% of the farmer groups from which it sourced products in 2018/2019 had programs to prevent child labor,

Swiss exchange challenges GAM over Cantab Capital takeover

04 Dec 2019

ZURICH The Swiss stock exchange's listing authority said on Wednesday that asset manager GAM Holding understated liabilities from its 2016 takeover of Cantab Capital Partners in its financial reporting.

EFG International says Swiss court ruling on BSI case won't affect results

04 Dec 2019

ZURICH EFG International said on Wednesday its results would not be affected by a court ruling forcing Switzerland's markets supervisor to reconsider its seizure of about $95 million from a bank the Swiss money manager bought in 2016.

Swiss court rebuffs FINMA's seizure of bank BSI money in 1MDB case

03 Dec 2019

ZURICH, Dec 3 Swiss financial markets supervisor FINMA must reconsider its confiscation of 95 million Swiss francs ($95.27 million) from Banca della Svizzera Italiana (BSI), after a court called its calculation of the amount seized "incomprehensible".

Schmolz+Bickenbach battle escalates on eve of capital increase vote

01 Dec 2019

ZURICH The fight for control of Schmolz+Bickenbach flared on Sunday, with Russian oligarch Viktor Vekselberg's investment vehicle accusing a rival shareholder of trying to increase its stake on the cheap via a planned share issue.

Novartis's $90 million Swiss factory to help solve cell therapy bottleneck

28 Nov 2019

ZURICH Swiss drugmaker Novartis's new $90 million cell and gene therapy factory in northern Switzerland is on track to begin commercial production of its cell therapy Kymriah for cancer in 2020.

Swiss revamp antiquated money laundering, terrorism finance report system

27 Nov 2019

ZURICH Switzerland is overhauling its 21-year-old system for reporting suspected money laundering and terrorism financing, Swiss federal police said on Wednesday, after concluding the old system that relies on fax or mail has outlived its usefulness.

Novartis takes on Sanofi, Amgen with $9.7 billion takeover of heart drug maker

25 Nov 2019

ZURICH Swiss drugmaker Novartis is betting on heart drug prospect inclisiran in a $9.7 billion takeover of The Medicines Co as it challenges cardiovascular medicines from Amgen Inc , Sanofi and Regeneron Pharmaceuticals .

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