Archive – Banking & Fintech

New seed fund for French-Swiss firms

This content was published on Oct 28, 2003 The fund called “Découvreurs 1” (The Discoverers) is being lead by Armand Lombard, the former private banker, who co-founded Bisange. The firm, whose name is the French conflation of the term “business angel”, has been acting as a broker and coach until now, matching start-ups seeking seed money with angel investors. It has received more…

Winterthur axes 200 jobs

This content was published on Oct 28, 2003 The redundancies are part of a restructuring programme that involves merging the sales structures of the firm’s life and non-life businesses. “The two individual sales organisations were very successful in recent years when the market was growing and they made a major contribution towards Winterthur’s leadership position in Switzerland,” said Philippe Egger, head of the…

Zurich airport adopts controversial approach

This content was published on Oct 28, 2003 The measures follow Bern’s refusal in March to ratify an aviation accord with Berlin aimed at reducing noise pollution over southern Germany. From Thursday, thousands of residents living in affluent areas south of the city will have to endure flights every three minutes between 6am and 7am during the week, and 6am and 9am at…

ABB posts worse-than-expected loss

This content was published on Oct 28, 2003 The Swiss-Swedish group added that the key sale of its Oil, Gas and Petrochemicals (OGP) business could be delayed. The sale is at the centre of ABB’s promise to its creditors that it would reduce debt before the end of 2003. ABB said it had reached a preliminary agreement to sell most of the unit…

Central bank urges swift economic reforms

This content was published on Oct 27, 2003 Jean-Pierre Roth also called for greater liberalisation of domestic industries to stimulate growth and improve competitiveness. “Maintaining the current structures would keep eroding welfare,” said Roth. He added that highly regulated industries were able to maintain high prices and were less innovative technically. However, Roth fears that many Swiss citizens will continue to oppose economic…

“Helloworld” sends global message to leaders

This content was published on Oct 27, 2003 This time, “Helloworld” will transmit texts at December’s World Summit on the Information Society in Geneva. Two years ago, anyone with internet access or a mobile phone could tell political and business leaders gathered at the Swiss Alpine resort of Davos what they thought of their policies. The interactive “Hello Mr President” project – powered…

Cantons compete for the golden taxpayer

This content was published on Oct 26, 2003 But the pressure to attract wealthy taxpayers has fuelled an ongoing, and often bitter rivalry between Switzerland’s 26 cantons. The German dairy magnate, Theo Müller, is the latest high-profile millionaire to decamp to Switzerland. In moving to canton Zug, Müller will avoid paying hundreds of millions in inheritance tax to the German fiscal authorities. Some…

One dead in Zurich train collision

This content was published on Oct 25, 2003 Police said around 45 others were injured in the crash which occurred during Friday evening’s rush hour. Police said a 22-year old woman from the Czech Republic was killed in the crash which happened near Zurich-Oerlikon station. The exact cause of the collision is not yet known, but Walter Kobelt, who is heading investigations into…

US pleased with outcome of donor conference

This content was published on Oct 24, 2003 Pledges of around $33 billion (SFr43.14 billion) dispelled initial fears that governments and organisations would refuse to come up with the necessary funds. “The Iraqi people will long remember the assistance we’ll provide them at this critical moment of challenge and hope,” the United States secretary of state, Colin Powell, told representatives from more than…

Nestlé receives compensation from Ethiopia

This content was published on Oct 24, 2003 It said the money was being divided among three charities active in Ethiopia, and half of the sum had already been paid out to the Red Cross and Caritas. According to Nestlé spokesman Marcel Rubin, the Ethiopian government paid up the damages in two instalments, in March and October. The second instalment was being donated…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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New seed fund for French-Swiss firms

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Winterthur axes 200 jobs

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Zurich airport adopts controversial approach

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ABB posts worse-than-expected loss

More

Central bank urges swift economic reforms

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“Helloworld” sends global message to leaders

More

Cantons compete for the golden taxpayer

More

One dead in Zurich train collision

More

US pleased with outcome of donor conference

More

Nestlé receives compensation from Ethiopia

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