Archive – Banking & Fintech

Wireless startup’s Swiss founders find success in Berlin

This content was published on Mar 30, 2004 The company announced raising E6.5 million in venture capital led by Paris-based Innoven Partenaires SA. Other investors include Munich-based Target Partners, which recently sold one of its young portfolio companies, WLAN AG to Swisscom. Earlier investors, BC Brandenburg Capital GmbH and IBB Beteiligungsgesellschaft mbH, two regional economic development funds targeting the Berlin area came back…

Alps rail link runs two billion francs over budget

This content was published on Mar 30, 2004 The transport ministry said on Tuesday that the total cost of the project was now likely to reach SFr15.8 billion. Officials presented their final calculations after conducting a detailed evaluation of the huge tunnel project, which is due to be completed by 2015. The ministry said the extra costs were due to improved safety installations…

Swiss Life recovers on 2003 stock market surge

This content was published on Mar 30, 2004 However, the profit was overshadowed by a SFr1.15 billion cash call which sent the share price tumbling more than ten per cent. The profit was the first for Switzerland’s largest life insurer since 2000, coming after three years of cost cutting and the sale of many of its banking assets. The company’s chief executive, Rolf…

Price fixers face hefty fines under new cartel law

This content was published on Mar 30, 2004 Price rigging between manufacturers costs the Swiss economy billions of francs and is one of the main reasons for the country’s lacklustre growth. The International Monetary Fund (IMF) and the Organization for Economic Cooperation and Development (OECD) have been calling on the Swiss to take action against cartels for years. At its annual press conference…

Muesli celebrates a century of good health

This content was published on Mar 29, 2004 Muesli is a lasting symbol of an alternative and holistic health movement that started around the end of the 19th century, and is being rediscovered. Muesli was based on Bircher-Benner’s health diet of raw vegetables and fruit. The original recipe called for a mix of oats soaked in water, lemon juice, condensed milk, grated apples…

Swiss economy challenged by EU enlargement

This content was published on Mar 29, 2004 While export-led sectors stand to gain from EU enlargement, the domestic market needs reforming if Switzerland is to experience a return to economic growth. Growth will depend on a clampdown on cartel agreements, improved transparency and more help being offered to business start-ups – all issues which the Swiss government has been grappling with for…

Army gives suppliers seal of approval

This content was published on Mar 27, 2004 For a licence fee, the army is prepared to officially approve products such as shoes and sunglasses that can be sold on the civilian market. On April 1, Switzerland’s two biggest retailers, Migros and Coop, will start selling sunglasses tested and used by Swiss mountain troops. The eyewear will carry the label “Approved by Armasuisse”.…

Basel’s shipping industry turns 100

This content was published on Mar 27, 2004 But even though the amount of goods transported on the River Rhine is increasing, shipping enjoys little recognition among the public. On June 2, 1904, the screw steamer, “Knipscheer IX”, docked in St Johann port after a ten-day journey along the Rhine. It was towing the barge, “Christina”, loaded with 300 tons of coal for…

Credit Suisse red-faced over accounting “error”

This content was published on Mar 26, 2004 Switzerland’s second-largest bank said the “very unfortunate” error meant its earnings for last year were around SFr200 million ($156.5 million) lower than originally stated. Credit Suisse said on Friday that the mistake was down to a data input error, as the bank tried to ease potential worries among investors that it was something more serious.…

“Superbug” company hits the stock exchange

This content was published on Mar 25, 2004 Spun off from pharmaceutical company Roche in 2000, Basilea is floating primarily to raise cash for ongoing and new clinical development and research programmes. Basilea Pharmaceutica was founded in 2000 by the pharmaceutical company Roche. Basilea has its headquarters in the former premises of the Basel Institute of Immunology. The company’s research and development focuses…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Wireless startup’s Swiss founders find success in Berlin

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Alps rail link runs two billion francs over budget

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Swiss Life recovers on 2003 stock market surge

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Price fixers face hefty fines under new cartel law

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Muesli celebrates a century of good health

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Swiss economy challenged by EU enlargement

More

Army gives suppliers seal of approval

More

Basel’s shipping industry turns 100

More

Credit Suisse red-faced over accounting “error”

More

“Superbug” company hits the stock exchange

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