Archive – Banking & Fintech

Investors turn their backs on BZ Bank

This content was published on Jan 20, 2003 The Bank reported it had lost SFr26 billion of client funds as investors pulled out 90 per cent of the funds held in custody accounts. Once hailed as the champion of the small investor, Ebner has seen his financial empire crumble over the past two years as a result of the global bear market. BZ…

Playing games pays for Swiss start-up

This content was published on Jan 20, 2003 Rather, they have been selling a neural networking-based software package they created that helps players improve their skills. SnowieGroup is a two-man company based in Morges that Egger formed with German-born Levermann after they met at a backgammon tournament five years ago to sell their creation, called Snowie. “Snowie has changed backgammon tournaments irrevocably,” says…

Biopharma industry sets out to charm investors

This content was published on Jan 20, 2003 The event, BioData 2003, will also showcase cutting-edge advances in biotech research. The organisers of BioData 2003 say they are confident the event will help restore investor faith in the “biopharma” industry, which has been hit hard by depressed world financial markets. They also blame the ongoing threat of terrorism and last year’s accounting scandals…

Swiss villagers remember Audrey Hepburn

This content was published on Jan 20, 2003 For the last 30 years of her life, the film actress was a popular member of the local community in Tolochenaz. She often walked her dogs through the village and warmly greeted her neighbours in French. But it is not only the villagers who have fond memories of Hepburn, who after a highly successful movie…

SIG moves with the times

This content was published on Jan 18, 2003 Then a decade ago, the industrial concern based in Neuhausen am Rheinfall gave up those loss-making sectors to concentrate on packaging. SIG was founded by three men – railway pioneer Friedrich Peyer im Hof, watchmaker Heinrich Moser and industrialist Conrad Neher – on January 17, 1853, as the “Swiss Wagon Works near Schaffhausen”. The founding…

Swiss struggles to attract more passengers

This content was published on Jan 17, 2003 But the airline’s seat load factor for December remains below that of its key competitors. Swiss said on Friday that it carried 11.6 million passengers in 2002, which was almost two million more than the 9.8 million predicted in its business plan. Passengers numbered 2.92 million in the fourth quarter, a drop of 16.3 per…

Maurice Magnoni: Facing The Wall

This content was published on Jan 17, 2003

ABB agrees bankruptcy deal with asbestos lawyers

This content was published on Jan 17, 2003 The deal would cost the company a maximum of $1.2 billion. The debt-laden group, based in Zurich, is now offering cash of up to $350 million, as well as $50 million in ABB stock. It had originally put $1.1 billion on the table for a settlement, made up of $300 million in cash as well…

High-tech house project enters third year

This content was published on Jan 16, 2003 The project dubbed “FutureLife” was launched in October 2000 with the aim of showing what life in a fully automated household could be like. The organisers say it has been a huge success. Daniel Steiner, his wife Ursi and their two adopted children, Grace and Carlo, were selected to move into the Internet house, where…

SGS posts significant year-end profits

This content was published on Jan 16, 2003 The announcement came as a breath of fresh air amid a generally downbeat Swiss market. The Geneva-based company attributed its success to new cost-cutting drives implemented by Sergio Marchionne, who took over as CEO in February 2002. Over the year, Marchionne culled half the company’s board, postponed major acquisitions, launched a SFr250 million share buyback…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Investors turn their backs on BZ Bank

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Playing games pays for Swiss start-up

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Biopharma industry sets out to charm investors

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Swiss villagers remember Audrey Hepburn

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SIG moves with the times

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Swiss struggles to attract more passengers

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Maurice Magnoni: Facing The Wall

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ABB agrees bankruptcy deal with asbestos lawyers

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High-tech house project enters third year

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SGS posts significant year-end profits

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