Archive – Banking & Fintech

New energy charges Swiss financiers

This content was published on Oct 31, 2002 Corporate and financial investors are putting more money into energy. A sign that the time is ripe for investment in alternative energy is the fact that 12-year-old SAM was able to raise two brand new venture capital funds (combined investment total of €90 million) at a time in history when private equity allocations are all…

Swiss applies the brakes

This content was published on Oct 30, 2002 The management of the airline has rejected the first budget proposal for 2003, in an attempt to stick to its aim of breaking even by the end of next year. A company statement said that the breakeven objective was “ambitious” in the current economic climate, which was affecting the airline business in particular. Swiss repeated…

Post Office gears up for competition

This content was published on Oct 29, 2002 Two years later, competition will be extended to letters weighing over 100 grams, following a government decision to gradually open up the market to competition. On Tuesday, the Swiss communications minister, Moritz Leuenberger, said liberalisation measures would take into account the specific needs of regions and the Post Office’s social responsibility as an employer. Speaking…

Smaller banks are most profitable

This content was published on Oct 29, 2002 The cantonal bank of tiny Schaffhausen in northern Switzerland is the best performer, while the banks of Vaud and Geneva remain firmly at the bottom of the list. The rankings are based on 12 indicators, such as profit margins and turnover per employee. The cantonal bank of Schwyz has an impressive profit margin of 60.62…

Vaud pumps fresh cash into cantonal bank

This content was published on Oct 29, 2002 Bailing out the troubled bank – Switzerland’s fourth largest – has become almost routine for the canton’s long-suffering taxpayers. BCV is to issue participation bonds for the money. SFr850 million will be covered by provisions and the balance will be new cash stumped up by the canton. It is the second re-capitalisation the bank has…

Post Office confronts an electronic future

This content was published on Oct 29, 2002 The three-day meeting in Geneva comes a week after the Swiss Post Office announced plans for a radical overhaul which will lead to 2,500 job cuts. The 700 delegates are discussing how organisations devoted to moving paper from place to place should deal with a future increasingly enveloped by email messages. The UPU predicts that…

Zurich residents braced for more aircraft noise

This content was published on Oct 26, 2002 Phase two extends an existing ban on night-time flights through German airspace. It came into effect exactly one year after the first phase of the accord, which banned aircraft en route for Zurich from crossing German airspace between 2200 and 0600. As of Sunday, flights are now prohibited between 2000 and 0900. The situation means…

Junisphere rounds out team

This content was published on Oct 25, 2002 The Baar-based company raised an undisclosed amount of capital from business investors to fund expansion and power more research and development. The 18-month old enterprise-oriented software company employs 8 people and plans to hire two more by the end of the year. Revenues cover “most costs” today, according to Oliver Zemp, responsible for marketing and…

The mad artist of the Engadine

This content was published on Oct 25, 2002 Vital, who is also an organic farmer, considers himself an “agrartist” – turning discarded farm elements into whimsical sculptures, which are at the same time warnings against putting too much faith in technology. Vital walks around one of his sculptures. It’s a small cart made with abandoned wagon wheels and a motorcycle helmet. “He’s on…

Job losses loom as ABB plunges into red

This content was published on Oct 24, 2002 The Swiss-Swedish group is battling to cut a $5.5 billion (SFr8.3 billion) debt mountain, amid ongoing fears of huge asbestos liabilities in the US. Delivering its third-quarter results on Thursday, ABB said earnings before interest and taxes (EBIT) fell 44 per cent to $405 million for the first nine months of 2002. ABB hopes to…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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New energy charges Swiss financiers

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Swiss applies the brakes

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Post Office gears up for competition

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Smaller banks are most profitable

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Vaud pumps fresh cash into cantonal bank

More

Post Office confronts an electronic future

More

Zurich residents braced for more aircraft noise

More

Junisphere rounds out team

More

The mad artist of the Engadine

More

Job losses loom as ABB plunges into red

Popular Stories

Most Discussed