Archive – Banking & Fintech

Swiss firms raise more venture capital

This content was published on Aug 18, 2004 Based on volume, Switzerland moved up from fifth to fourth place in the quarterly ranking of venture capital raised in Europe, which is published by Tornado Insider Research. More than a billion euros were raised across Europe over the same period. Innovative firms in the Swiss market attracted more than €85 million (SFr130 million) from…

Bad weather and higher costs hurt Nestlé figures

This content was published on Aug 18, 2004 The company, whose products range from chocolate KitKat bars to Friskies pet food, said it had been hit by higher raw material costs and poor weather in Europe. But Nestlé announced on Wednesday a record operating cash flow of SFr3.347 billion ($2.69 billion) and confirmed a positive outlook for the year as a whole. Net…

Urine takes the stink out of diesel fumes

This content was published on Aug 17, 2004 They have developed a new catalytic converter based on urea, a compound found naturally in urine, which eliminates the pollution blamed for much of the summer ozone. Diesel motors are considered more environmentally friendly than their petrol equivalents, but they have a major drawback. They emit nitrogen oxides, compounds believed to be largely responsible for…

Locarno station provides a gateway to Italy

This content was published on Aug 17, 2004 An unremarkable building, Locarno station is the starting point for the picturesque “Centovalli” route – the most direct rail link between the southern canton of Ticino and western Switzerland. Opened in 1874, the station was one of the first to be built by the St Gotthard railway company. Enthusiasm for the new venture meant no…

One-off gain at Swiss hides continuing losses

This content was published on Aug 17, 2004 Swiss, which has warned it will likely make an operating loss this year, said second-quarter net profit was SFr45 million ($36.31 million). The airline finished the quarter in the black thanks to a cash boost of SFr68 million, which was released following the settlement of a protracted legal case in France. Swiss said that without…

Frankfurt keen on closer ties with Swiss bourse

This content was published on Aug 16, 2004 In a newspaper interview, Werner Seifert, a Swiss who has been with the German group since 1993, said he would like to start talks as soon as possible. Seifert stopped short of mentioning the words “merger” or “takeover”, but said that “maintaining the status quo” was not an option. “The SWX is not under immediate…

Swiss consumers are still getting a raw deal

This content was published on Aug 16, 2004 Forty years after the founding of the Consumer Protection Association, its president Simonetta Sommaruga tells swissinfo that Swiss consumers are still paying over the odds. Sommaruga says Switzerland’s reputation as Europe’s “high-price island” is as deserving as ever, thanks to legislation skewed in favour of business, and a reluctance to push companies to offer value…

Chip innovation lures global venture capital

This content was published on Aug 16, 2004 Along with the weather, the venture capital scene warmed up in Switzerland, as investors from around the world backed several Swiss technology semiconductor start-up firms. Announcing additional financing to execute their business plans were Nemerix SA of Manno, Innovative Silicon SA of Lausanne, and Bridgeco AG, based in Zurich. The largest amount of venture capital…

Swatch Group says it’s in the clear

This content was published on Aug 15, 2004 Swatch, the world’s largest watchmaking concern, had denied allegations that it had evaded taxes and import duties. The group said on Saturday that its American lawyers had received a copy of a letter addressed to the two plaintiffs, in which the US Labor Department dismissed the claims. Swatch spokeswoman Béatrice Howald refused to release a…

Swiss kids satisfy taste for booze and drugs

This content was published on Aug 13, 2004 According to a survey of 35 countries, they are the continent’s heaviest dope smokers and among the worst offenders for binge drinking. The European School Survey Project on Alcohol and Other Drugs in Switzerland found that 80 per cent of 15-year-olds drank regularly – despite being underage. More than half of the 16-year-olds questioned said…

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