Archive – Banking & Fintech

Swiss Life eyes profit after record loss

This content was published on Apr 8, 2003 Publication of last year’s figures comes a day after regulators censured the insurer over a secretive investment fund operated by six of the firm’s senior managers. Swiss Life had already warned in March of a loss of around SFr1.7 billion, surprising markets which had been expecting a full-year loss closer to SFr840 million. Tuesday’s result…

Swiss small business face common problems

This content was published on Apr 7, 2003 The statistically significant response (621 responses to 12,000 surveyed) showed that finding customers and access to capital are on the minds of small business owners. The survey, conducted by a privately-owned, small business training company called the Institute for Entrepreneurs (IfJ), asked a half dozen questions with multiple choice answers via an email survey. The…

Swiss Life slammed for lack of control

This content was published on Apr 7, 2003 The Swiss Federal Office of Private Insurance has ordered the company to claim back profits gained by former management members through the investment fund. In its ruling on Monday, the insurance regulator said that six members of Swiss Life’s old guard had endangered the interests of policyholders by investing their own money in Long Term…

“Arrogant” Zurich faces identity crisis

This content was published on Apr 7, 2003 A faltering economy and rising unemployment has had a humbling effect on the residents of the country’s “number one city”. Zurich’s citizens often overlook the fact that “little” Bern is the capital of Switzerland. Often referred to as “Zurich West”, Bern may boast the federal parliament but Zurich provides the country’s financial and cultural pulse…

Swiss B&Bs gain in popularity

This content was published on Apr 6, 2003 swissinfo’s Billi Bierling took a trip to the village of Mur on the shores of Lake Murten to look at one B&B that offers guests a taste of the countryside – and straw beds. Finding the Eulenhof – or “Owl’s Farm” – is not difficult as little red signs in the shape of an owl…

Helvetia Patria joins the loss-making list

This content was published on Apr 4, 2003 The group, based in St Gallen, reported the first loss in its history for 2002 – plunging into the red to the tune of SFr362 million ($261.66 million). It blamed impairment charges on depressed equity values and losses in its Swiss business for the poor result. It comes a day after the Baloise company –…

Baloise makes record loss

This content was published on Apr 3, 2003 It blamed weak markets for the loss, which came in at the high end of expectations. In 2001 the top five insurer made a net profit of SFr404 million. Baloise had warned in January that it would make a loss of SFr550-650 million due to the global financial crisis, foreign exchange losses and charges for…

Taste for luxury chocolate keeps Lindt profits sweet

This content was published on Apr 1, 2003 The company, based at Kilchberg near Zurich reported a 2002 net profit of SFr101.9 million ($75.22 million), up 11.4 per cent over the previous year. The result was achieved against a background of what chairman and CEO Ernst Tanner termed “the most challenging 12 months in recent decades”. At the annual results conference on Tuesday,…

Alpine giant powers Swiss households

This content was published on Apr 1, 2003 Completed in 1965, its facilities in canton Valais provide 12 per cent of Switzerland’s stored hydroelectric power. Construction of the Grande Dixence project – which includes four dams, three power plants and over 100 kilometres of tunnels – began in 1950 and was one of the major engineering feats of the post-war period. The complex’s…

Lifting the veil on the central bankers’ bank

This content was published on Apr 1, 2003 The BIS’s outgoing general manager, Andrew Crockett, gave swissinfo’s Robert Brookes an insight into the oldest international financial institution, established in 1930. Crockett stepped down on Monday after being in the post since 1994. A former staff member of the International Monetary Fund and a former executive director of the Bank of England, Crockett is…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Swiss Life eyes profit after record loss

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Swiss small business face common problems

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Swiss Life slammed for lack of control

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“Arrogant” Zurich faces identity crisis

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Swiss B&Bs gain in popularity

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Helvetia Patria joins the loss-making list

More

Baloise makes record loss

More

Taste for luxury chocolate keeps Lindt profits sweet

More

Alpine giant powers Swiss households

More

Lifting the veil on the central bankers’ bank

Popular Stories

Most Discussed