Archive – Banking & Fintech

Swiss dots foil counterfeiters

This content was published on Nov 14, 2002 It is called parallel importing. Until brand owners make prices the same the world over, a Swiss high tech startup company has come up with a way to foil modern day brand pirates. The profits in parallel importing lie in price differences between countries. Brand name and luxury items meant for the US or Singapore…

Minimalist cowshed helps needy farmers

This content was published on Nov 14, 2002 The modular shed, which costs half the price of a traditional barn, is designed to help them survive falling milk prices and increased competition. The Meili Minimalist Cowshed has already been in use for nine months at a farm near Anwil, about 30 kilometres south east of Basel – and early impressions have been positive.…

Credit Suisse crashes to record loss

This content was published on Nov 14, 2002 The figure, which was worse than analysts had feared, included a SFr1.4 billion loss at the group’s struggling Winterthur insurance business. Credit Suisse also announced on Thursday that it had appointed Leonhard Fischer, former head of investment bank Dresdner Kleinwort Wasserstein, as the new chief executive officer at Winterthur to turn around its flagging fortunes.…

Swiss discover new fondness for football

This content was published on Nov 13, 2002 Wednesday’s press reaction to Basel’s 3-3 draw against Liverpool was understandably euphoric, given that it’s the first time a Swiss club has come so far in the big league. Not content with splashing superlatives in Basel’s colours across its front page, the tabloid “Blick” was so head over heels about the team’s showing that it…

Bear market scares equity investors

This content was published on Nov 12, 2002 Since 2000, the total number of shareholders in Switzerland has fallen by 25 per cent to 1.3 million. About one in four Swiss residents between the ages of 18 and 74 now own equities, according to a study by the Swiss Banking Institute. However, the Institute, which is part of Zurich University, said it would…

Swiss business gains on the competition

This content was published on Nov 12, 2002 In its 2002 report the WEF ranked Switzerland sixth in terms of global competitiveness, up nine places from last year’s 15th position. Heading the table was the United States, which overtook Finland as global leader. Taiwan, Singapore and Sweden all made the top five. Innovation WEF spokesman Peter Cornelius said that one of Switzerland’s key…

Swiss banks reject links between investment and apartheid

This content was published on Nov 12, 2002 Credit Suisse and UBS are among 20 companies being sued for their dealings with the country’s former apartheid regime. United States lawyer Michael Hausfeld filed the lawsuit in New York on Monday on behalf of thousands of victims of apartheid. As well as Credit Suisse and UBS, firms such as the oil companies Exxon and…

UBS profit down amid stormy markets

This content was published on Nov 12, 2002 The bank also announced it was scrapping the PaineWebber and Warburg names and from now would just have one brand – UBS. The figure was well above analysts’ estimates of a profit of around SFr812 million but almost 30 per cent down on the second quarter. The bank said in a statement that the third-quarter…

Grim news expected from Credit Suisse

This content was published on Nov 11, 2002 Kielholz, aged 51, will take over as chairman from former Swiss Re CEO Lukas Mühlemann, who announced his resignation from CS in September. Credit Suisse is forecast to show a net loss of close to SFr2 billion ($1.39 billion), up from a SFr579 million loss in the second quarter. According to the “NZZ am Sonntag”…

Coomber takes over from Kielholz at Swiss Re

This content was published on Nov 11, 2002 Coomber will take up the position on January 1, replacing Walter Kielholz, who is leaving to become the new chairman of the Credit Suisse Group. Coomber, who has been with Swiss Re for 30 years, takes over as the company tries to rebound from last year’s SFr165 million ($114.35 million) loss. The loss, which was…

Archive – Banking & Fintech

Popular Stories

Most Discussed

Archive – Banking & Fintech

More

Swiss dots foil counterfeiters

More

Minimalist cowshed helps needy farmers

More

Credit Suisse crashes to record loss

More

Swiss discover new fondness for football

More

Bear market scares equity investors

More

Swiss business gains on the competition

More

Swiss banks reject links between investment and apartheid

More

UBS profit down amid stormy markets

More

Grim news expected from Credit Suisse

More

Coomber takes over from Kielholz at Swiss Re

Popular Stories

Most Discussed