Archive – Banking & Fintech

Left demands affordable health care

This content was published on Dec 9, 2004 It is the latest in a series of attempts to cut spiralling health-care costs in Switzerland. Supporters handed in more than 113,000 signatures to the federal authorities on Thursday in a bid to force a nationwide vote. The proposal outlines a standard scheme for mandatory basic health insurance and the introduction of income- and wealth-related…

Swiss Life quits British market

This content was published on Dec 9, 2004 The exit from the British market is being seen as one of the last major steps in Swiss Life’s ongoing restructuring programme. Switzerland’s largest life insurer said there would be a one-off charge of around SFr120 million against its 2004 earnings. But it added that the sale would free up SFr400 million in loans deployed…

Swiss Post and unions make peace for Christmas

This content was published on Dec 8, 2004 An agreement was worked out on Wednesday among Swiss Post, the Communication and Transfair unions, after months of arguing over the collective labour contract. At the centre of the dispute was a plan by Swiss Post to set up independent subsidiaries to carry out some of its operations. Unions had argued that such a step…

Unemployment hits seven-month high

This content was published on Dec 8, 2004 The number of people out of work at the end of November stood at 152,049 – the highest level for seven months. The State Secretariat for Economic Affairs (Seco) said on Wednesday that the unemployment rate now stood at 3.9 per cent – up from 3.7 per cent in October. However, Seco emphasised that it…

Credit Suisse to absorb investment bank

This content was published on Dec 7, 2004 Switzerland’s second largest bank said on Tuesday that Credit Suisse First Boston would focus on niche markets as part of the reorganisation. Analysts say CSFB has been slipping in the industry’s rankings and is no longer seen as one of the top five Wall Street players. “Essentially this means there is now one group,” said…

Emmi shares prove a hit at the bourse

This content was published on Dec 6, 2004 The shares went for as much as ten per cent higher than the issue price. In only the fourth Swiss initial public offering this year, Emmi priced its stock at SFr100 ($87.76) – the top end of its indicated range of SFr90-100 and said each share was ten times over-subscribed. After opening at SFr104.50, the…

High expectations for Emmi shares

This content was published on Dec 5, 2004 It hopes to raise about SFr100 million with the initial public offering. The company said in a statement on Sunday that its offering of up to one million new shares at a price range of SFr90-100 were ten times oversubscribed. Emmi said it would make its debut on the bourse with a market capitalisation of…

ABB stock tumbles after US court decision

This content was published on Dec 3, 2004 The surprise rejection of ABB’s $1.2 billion (SFr1.4 billion) settlement is seen as a major setback for the company. On Thursday the Third Circuit Court of Appeals in Philadelphia threw out the plan, saying the settlement would have to be renegotiated by lower courts. Company shares traded on the virt-x platform dropped by 11.93 per…

Nuclear reactor to stay online

This content was published on Dec 3, 2004 Green groups say the authorities have surrendered to the demands of the nuclear lobby, which is pushing for more power plants. The authorities gave the green light to the continued operation of the Beznau II reactor on Friday, despite opposition from the German and Austrian governments as well as environmental organisations such as Greenpeace. The…

Hydrogen powers futuristic car

This content was published on Dec 3, 2004 To prove their point, scientists at the Paul Scherrer Institute (PSI) have been helping develop a prototype car powered by hydrogen. The Hy-Light concept car, developed in collaboration with tyre specialist Michelin, was presented recently in Shanghai. According to Michelin, the Hy-Light was the most efficient fuel-cell vehicle taking part in the Bibendum Challenge in…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Left demands affordable health care

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Swiss Life quits British market

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Swiss Post and unions make peace for Christmas

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Unemployment hits seven-month high

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Credit Suisse to absorb investment bank

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Emmi shares prove a hit at the bourse

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High expectations for Emmi shares

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ABB stock tumbles after US court decision

More

Nuclear reactor to stay online

More

Hydrogen powers futuristic car

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