Archive – Banking & Fintech

Dark day for Swiss business

This content was published on Feb 25, 2003 Thousands of employees are facing the axe under cost cutting plans announced by Credit Suisse, the national airline, Swiss, and Clariant, the specialty chemicals group. A raft of poor company results hammered the Swiss Market Index of leading shares, which closed just 94 points above the psychologically important 4,000 mark. It is now at its…

Swiss cuts itself down to size

This content was published on Feb 25, 2003 Analysts have long said the airline is too big for its home market, and that cuts are needed if it is to avoid the same fate as the collapsed Swissair. Announcing the cuts in Zurich, chief executive André Dosé said they were in response to weak markets – a problem afflicting the entire aviation industry.…

Clariant cuts jobs and sheds units

This content was published on Feb 25, 2003 The news comes just two weeks after Clariant posted a net loss of SFr648 million ($478 million) for 2002 – the second consecutive annual loss. Clariant spokesman Patrick Kaiser said on Tuesday that the company would “reduce its workforce by between four and six per cent in the next two years”. Clariant currently employs 28,000…

Credit Suisse to slash jobs after record loss

This content was published on Feb 25, 2003 CS also announced that it would be shedding 1,250 jobs – 950 at its financial services division and 350 at its Winterthur insurance arm. “It’s a pretty tough picture right now,” CS chief financial officer, Philip Ryan, told swissinfo. “It will remain that way until we get some clarity on the geopolitical situation and how…

Swiss urged to shun high-emission cars

This content was published on Feb 24, 2003 Car dealers are now required to rank new cars according to their fuel efficiency, as part of efforts to meet the country’s commitments to the Kyoto Protocol. Moritz Leuenberger, the Swiss transport minister, on Monday said the measure was designed to help Switzerland reduce its annual carbon dioxide (CO2) emissions. Under the Kyoto Protocol on…

Swiss-German nanotech venture capital fund suffers setback

This content was published on Feb 24, 2003 It was “sponsoring” the Zurich-based team led by Berndt Samsinger in an effort to raise a new €100 million venture capital nanotechnology fund. The fund would have targeted makers of instruments used to measure nanosized structures, biotechnology, and advanced materials that could be used for special coatings and thin films. Despite the retreat by the…

The future is bright – but not for all

This content was published on Feb 23, 2003 Some 200 handed in a petition to the Federal Communications Office on Monday to demand better working conditions and adequate redundancy payoffs. Protesters called off a five-day strike on Monday to give the authorities time to react to their demands. They have threatened to walk out again on Friday, if their demands are not acted…

Swiss tourism puts forward a friendlier face

This content was published on Feb 22, 2003 Hundreds of shops, restaurants, hotels and ski lifts now participate in the programme, helping the industry rid itself of a reputation for poor and unfriendly service. Sandra S, who was employed as a “mystery person” as part of the Swiss Tourism Federation’s programme, says she was impressed with the service and lessons she received at…

Gold still shines for the Swiss

This content was published on Feb 22, 2003 The metal, derided in the 1990s as a poor investment, is currently worth around $350 an ounce (SFr475) – its highest level since 1997. Along with the Swiss franc, gold remains one of the world’s traditional “save havens”. In times of uncertainty, investors pile into the yellow metal, safe in the knowledge that it is…

Swiss GM crop trial to start in March

This content was published on Feb 21, 2003 Switzerland’s environment ministry on Friday removed the final hurdles blocking a long-awaited trial of modified wheat. Swiss fields have been GM free since the early 1990s when modified potatoes were planted. Two other requests to grow GM crops outdoors were rejected in 1999. The Zurich test crop has had a long gestation. Originally rejected by…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Dark day for Swiss business

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Swiss cuts itself down to size

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Clariant cuts jobs and sheds units

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Credit Suisse to slash jobs after record loss

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Swiss urged to shun high-emission cars

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Swiss-German nanotech venture capital fund suffers setback

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The future is bright – but not for all

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Swiss tourism puts forward a friendlier face

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Gold still shines for the Swiss

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Swiss GM crop trial to start in March

Popular Stories

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