Archive – Banking & Fintech

Swiss cuts up to 1,000 jobs

This content was published on Jan 18, 2005 The announcement that the airline would have to further restructure in order to compete with low-cost carriers came after two days of media speculation. Swiss said it would cut between 800 and 1,000 jobs over the next 18 months and reduce its fleet by 13 aircraft. It said it hoped that one third of the…

Nestlé CEO takes on double mandate

This content was published on Jan 18, 2005 The Vevey-based food giant said on Tuesday that Brabeck would replace Rainer Gut, who is to step down at the annual shareholders meeting on April 14. “Taking into consideration the importance of strategic continuity and long-term value creation, as well as the present composition of the board of directors and the executive board, the board…

Top private bank plans to open up to public

This content was published on Jan 17, 2005 Shares in Julius Bär and other private banks rose following the announcement, which sparked speculation of a possible acquisition campaign – or an outside takeover. The proposed capital structure reform would reduce the influence of the bank’s founding family, bringing their voting rights into line with their stake in the group. At present, family members…

Swiss considers restructuring plans

This content was published on Jan 17, 2005 Ahead of a meeting of the company’s board of directors on Monday, the company asked the Swiss stock market to suspend trading in its shares until Tuesday. Swiss declined to go into further detail. It said in a press release that it had decided to temporarily stop share-trading “to prevent any uncertainty on the capital…

Trade in Swiss shares suspended

This content was published on Jan 17, 2005 The company’s board of directors is due to meet on Monday to discuss a restructuring of its fleet of regional aircraft. Swiss declined to provide any further details. In a press release, the airline said only that it had decided to suspend trading of its shares “to prevent any uncertainty on the capital markets in…

Major rail projects swallow more money

This content was published on Jan 14, 2005 The transport ministry said that final costs for the Lötschberg and Gotthard tunnels were now estimated at SFr16.4 billion and has called for cost cutting measures. The additional costs of the ambitious projects – aimed at helping to move north-south freight traffic through the Alps from road to rail – are due to rail infrastructure…

New Pilatus plane grounded by federal ruling

This content was published on Jan 14, 2005 The ban comes a day after one of the company’s two prototypes crashed. The chief test pilot was killed and another person was seriously injured. “We have banned the second plane from flying,” FOCA spokesman Daniel Göring told swissinfo on Friday. Following the crash, the decision is more bad news for Pilatus, which had hoped…

SGS profits from surge in oil price

This content was published on Jan 14, 2005 SGS, the world’s leading testing and verification firm by sales, said on Friday that higher oil prices had boosted revenue. The firm, which tests consignments of goods for a range of industries, also said it would name a new chief executive “in the coming weeks”. Former CEO Werner Pluss stood down in September for health…

Swiss football close to losing top club

This content was published on Jan 13, 2005 If an investor cannot be found before January 21, the club will be declared bankrupt, ending 115 years in the country’s top division. Servette’s debts are estimated to be around SFr7 million ($6 million). Its owner, Marc Roger, revealed the extent of the club’s financial problems after seeking creditor protection from a Geneva court. The…

Novartis strikes malaria drug deal

This content was published on Jan 13, 2005 The agreement will enable it to supply the World Health Organization (WHO) with the quantities of the drug it requires. Novartis produces Coartem – a highly effective anti-malarial drug based on artemisinin, an ingredient extracted from the artemisia plant. At the end of last year, the company warned that it might not have enough artemisinin…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Swiss cuts up to 1,000 jobs

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Nestlé CEO takes on double mandate

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Top private bank plans to open up to public

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Swiss considers restructuring plans

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Trade in Swiss shares suspended

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Major rail projects swallow more money

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New Pilatus plane grounded by federal ruling

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SGS profits from surge in oil price

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Swiss football close to losing top club

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Novartis strikes malaria drug deal

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