Archive – Banking & Fintech

Alpine Initiative demands more rail transport

This content was published on Feb 17, 2005 The Alpine Initiative says the authorities have failed so far to fulfil the mandate given by voters over ten years ago. The group said on Thursday that the government’s transport policy lacked courage and that the authorities needed to strive more to move transalpine freight transport off road and onto rail. “We have only just…

Could Credit Suisse overtake its archrival?

This content was published on Feb 17, 2005 The CS Group surprised analysts on Thursday when it announced net profit of SFr5.63 billion ($4.77 billion) for 2004 – more than seven times what it earned in 2003. Presenting the results at a news conference in Zurich, chief executive Oswald Grübel said he was “confident” the group could reach its target of SFr8 billion…

Straumann posts record earnings in 2004

This content was published on Feb 17, 2005 Sales rose by 22.2 per cent to SFr420.3 million, spurred by greater penetration in the United States market, the Basel-based company announced on Thursday. Operating profit at Straumann, which is also active in the tissue regeneration market, was SFr129.4 million. In a statement, the company said that it was proposing a dividend up by 29…

ZFS confirms turnaround with profit hike

This content was published on Feb 17, 2005 The improved result, which comes despite a series of natural catastrophes and the ongoing need to plug holes in financial reserves, clearly beat market expectations. Analysts had estimated $2.41 billion in net profit for the company. ZFS said in a statement on Thursday that business operating profit rose 36 per cent to $3.14 billion, on…

Profit at Credit Suisse soars

This content was published on Feb 17, 2005 All banking businesses made year-on-year profit improvements, the group said on Thursday. Net profit in 2003 was SFr770 million. But Switzerland’s second-largest bank said its result had been marred by a charge of SFr242 million after tax in the fourth quarter. This was mainly due to an increase in a provision relating to the sale…

ABB moves back into the black

This content was published on Feb 17, 2005 The company, which is based in Zurich, reported on Thursday a net profit of $201million (SFr238 million), after making a loss of $779 million in 2003. But the ABB figures were weighed down by one-off charges of $60 million related to various businesses being discontinued. And the company, which has core businesses in power and…

Game over for Servette

This content was published on Feb 16, 2005 The club’s last hope of keeping its head above water was dashed after a group of Syrian investors pulled out of a rescue deal. Servette, which was declared bankrupt on February 4, had never left the top flight in 115 years of competition. The club had initially appealed against the decision, hoping to field a…

Swiss stems losses but remains in red

This content was published on Feb 16, 2005 Swiss also reported an operating loss (before interest and tax) of SFr122 million in a statement ahead of the publication of full financial results next month. The airline said the figures took into account two one-off gains amounting to SFr163 million. The first, totalling SFr95 million, was paid by British Airways and was linked to…

Tax on greenhouse gases looms

This content was published on Feb 15, 2005 The government is considering different options to encourage or coerce citizens and the economy into cutting carbon-dioxide pollution. The Kyoto Protocol on greenhouse-gas emissions took effect on Wednesday. Switzerland is one of 141 nations – representing over 60 per cent of global emissions – that have ratified or acceded to the treaty. Blaming global warming…

Fewer people qualify for disability benefits

This content was published on Feb 15, 2005 But the Federal Social Insurance Office (FSIO) said on Tuesday that the share of the working population receiving a disability allowance had continued to increase. Figures for 2004 show that 5.4 per cent of the working population receives some kind of benefit, up from 5.2 per cent the previous year. Social insurance services answered 51,000…

Archive – Banking & Fintech

Popular Stories

Most Discussed

Archive – Banking & Fintech

More

Alpine Initiative demands more rail transport

More

Could Credit Suisse overtake its archrival?

More

Straumann posts record earnings in 2004

More

ZFS confirms turnaround with profit hike

More

Profit at Credit Suisse soars

More

ABB moves back into the black

More

Game over for Servette

More

Swiss stems losses but remains in red

More

Tax on greenhouse gases looms

More

Fewer people qualify for disability benefits

Popular Stories

Most Discussed