Archive – Banking & Fintech

Swiss devise system to contain oil slicks

This content was published on Feb 21, 2003 They say the new system would be the first effective way to remove vast amounts of oil floating on the sea’s surface. Originally the brainchild of Ugo Cavalli, a retired engineer from Ticino, the idea has recently been taken up and developed by the engineers at the Swiss Federal Institute of Technology in Lausanne. Anton…

Syngenta posts loss amid weak outlook

This content was published on Feb 20, 2003 The figure was down $34 million on a year ago, but took included a $396 million charge for restructuring costs. The company said on Thursday it would have made a net profit of $265 million before these one-off items were taken into consideration. Sales also fell over the same period from $6.323 billion to $6.197…

Rare animals freeze on flight to Switzerland

This content was published on Feb 19, 2003 Many of the creatures, which included exotic chameleons, frogs and hedgehogs, were due to be housed at a Zurich reptile centre and at the city zoo. Reptile centre director Martin Schreiber arranged the February 7 flight with Air France, and even travelled to Madagascar to help pack the animals, but he was unable to travel…

Nestlé takes to the water… again

This content was published on Feb 19, 2003 Its water division has acquired Russia’s Clear Water company, the country’s leader in Home and Office Delivery (HOD). The acquisition, at an undisclosed price, comes just a fortnight after Nestlé expanded its bottled-water empire by acquiring the Powwow group for €560 million (SFr754 million). That deal cemented Nestlé’s position as the leader in the bottled…

UBS profit hit by rebranding

This content was published on Feb 18, 2003 The company blamed the slump on last year’s decision to scrap the PaineWebber brand at a cost of SFr953 million. The non-cash writedown was reflected in the bank’s fourth-quarter loss of SFr101 million – down from a net profit of SFr1.106 billion a year ago. This was worse than the SFr65 million loss predicted by…

Innovation awards tap Swiss tech prowess

This content was published on Feb 18, 2003 The winner this year, SwissProbe, which was founded by University of Basel (UniBas) researchers, is a case in point. It makes a powerful microscope, which is used by researchers and product developers working on next generation computer hard drives. SwissProbe comes from the same University of Basel department that worked with Nobel prize winners Rohrer…

ABB’s US unit files for bankruptcy

This content was published on Feb 18, 2003 The move, which is expected to resolve the group’s potentially crippling asbestos liability, pushed ABB shares up by 20 per cent on Monday. The debt-laden group Swiss-Swedish engineering group, based in Zurich, said its offer to settle asbestos claims had won approval of representatives of 103,000 present and future claimants. It added that fewer than…

Intelligent surfing poses a challenge

This content was published on Feb 17, 2003 Education experts say the challenge now is teaching pupils to make the best use of the web. Some 40 per cent of Swiss schools – over 1,800- have free broadband access thanks to the Schools on the Net programme.The plan is to get all of Switzerland’s 5,000 schools fully wired up by the end of…

Barry Callebaut expands its gourmet position

This content was published on Feb 17, 2003 The Zurich-based company announced on Monday it had acquired the Dutch-Belgian Luijckx group for an undisclosed price. In a statement, Barry Callebaut said Luijckx had sales last year of more than €33 million (SFr48.6 million) and was the world leader in sophisticated chocolate decorations for professional users. Luijckx has a staff of 240. Luijckx will…

Swissair chiefs “ignored warnings” of collapse

This content was published on Feb 12, 2003 The report was leaked to the “Tages Anzeiger” newspaper as creditors learned they would receive only a fraction of the SFr22.7 billion they claim they are owed. The Ernst & Young report was due to be issued on Wednesday to Swissair creditors, who were told on the same day that they would receive just SFr472…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Swiss devise system to contain oil slicks

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Syngenta posts loss amid weak outlook

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Rare animals freeze on flight to Switzerland

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Nestlé takes to the water… again

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UBS profit hit by rebranding

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Innovation awards tap Swiss tech prowess

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ABB’s US unit files for bankruptcy

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Intelligent surfing poses a challenge

More

Barry Callebaut expands its gourmet position

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Swissair chiefs “ignored warnings” of collapse

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