Archive – Banking & Fintech

Swiss Re buys up British insurer

This content was published on Jul 1, 2004 The deal – which still needs regulatory approval – is the Zurich-based company’s second transaction in the consolidating British insurance market. The purchase includes a subsidiary, Windsor Life Assurance Company, which administers more than 800,000 policies with total assets of around £5.2 billion. Both transactions involve buying up life and health policies and managing them…

Skyguide reaches deal with air crash relatives

This content was published on Jul 1, 2004 The announcement came the day before the second anniversary of the July 1, 2002, crash of a Russian passenger plane and a cargo jet in Swiss-controlled airspace, in which 71 people died. Last month Skyguide admitted it was partly to blame for the collision. Just one air traffic controller was on duty at the time…

Swiss slaps service charge on customers

This content was published on Jun 30, 2004 Swiss said the new system would provide greater cost transparency and help the carrier to remain competitive. The airline said it would no longer pay commissions to travel agents who book customers on their flights. “The combination of over-capacity and the emergence of low-cost carriers have altered the competitive environment and compelled airlines to reduce…

Swiss monitor safety of Europe’s railway bridges

This content was published on Jun 30, 2004 The project is assessing whether bridges can cope with the future demands of faster trains and heavier loads. Transport experts say it should soon be possible to double the number of passengers using the European rail network, and triple the amount of goods transported. At the same time, the safety of existing bridges – many…

Adecco shareholders agree to revamp board

This content was published on Jun 29, 2004 The vote at Tuesday’s annual shareholders meeting in Lausanne was in response to accounting problems earlier this year that cost investors billions of dollars. Shareholders elected seven new members to the nine-member board of directors, including ABB chairman and chief executive Jürgen Dormann, and former French finance minister Francis Mer. In its first move, the…

Interest rate fears lead to stock market volatility

This content was published on Jun 28, 2004 Both bourses rose in the first quarter of the year but fell back during the second, despite an improvement in the economy. The benchmark Swiss Market Index (SMI) grew throughout 2003 and continued to do so until the end of the first quarter, climbing from 4,700 points in July to more than 5,900 points in…

Multinationals put on a human face

This content was published on Jun 25, 2004 Switzerland described the “Global Compact” meeting as a success but NGOs say that without legally binding commitments, the promises amount to little more than words. Bosses from over 400 multinationals signalled their support for the Compact – a pact between governments and the private sector – which was created at the World Economic Forum summit…

Grübel stands alone as boss of Credit Suisse

This content was published on Jun 25, 2004 Mack, an American, will step down next month as part of a reorganisation, which will divide the group into three divisions. Credit Suisse said in a statement that Mack had agreed with the board of directors not to renew his contract which expires in July. He will be replaced at the helm of CSFB by…

Big carriers cry foul over Geneva’s low-cost plan

This content was published on Jun 23, 2004 The airport authorities are due to take a decision on whether to go ahead with the proposal by July 2. At the heart of the controversy are plans to reduce passenger taxes for low-cost carriers, and to raise them for people flying with traditional carriers. Low-cost travellers would have taxes reduced to SFr14 ($11) while…

Prospect of further cost-cutting looms at Swiss

This content was published on Jun 22, 2004 Aviation analyst Dieter Schneiderbauer told swissinfo the profit warning meant the airline’s search for a business partner was now more urgent than ever. In a statement, Swiss admitted that it “could fall short of a breakeven operating result” in 2004 and blamed the “steep increase in aviation fuel costs”. Swiss spokesman Jean-Claude Donzel said the…

Archive – Banking & Fintech

Popular Stories

Most Discussed

Archive – Banking & Fintech

More

Swiss Re buys up British insurer

More

Skyguide reaches deal with air crash relatives

More

Swiss slaps service charge on customers

More

Swiss monitor safety of Europe’s railway bridges

More

Adecco shareholders agree to revamp board

More

Interest rate fears lead to stock market volatility

More

Multinationals put on a human face

More

Grübel stands alone as boss of Credit Suisse

More

Big carriers cry foul over Geneva’s low-cost plan

More

Prospect of further cost-cutting looms at Swiss

Popular Stories

Most Discussed