Archive – Banking & Fintech

Unaxis still in the red

This content was published on Aug 27, 2002 The firm said it had narrowed the loss by SFr13 million compared with the same period last year. Unaxis blamed its poor results on continued weak global demand as well as a “delayed recovery in IT markets”. It reiterated its forecast for the full year, saying results would be below 2001. Unaxis provides manufacturing systems…

Sulzer profit slides

This content was published on Aug 27, 2002 Earnings came in above analysts’ expectations – the main reason for the weaker bottom line was the absence of divestment gains which boosted 2001 earnings. The company said the results were “satisfactory” and predicted it would “end the year with a respectable net income compared to the breakeven result of the prior year”, when net…

Milk quotas under pressure

This content was published on Aug 26, 2002 The government is planning to dump milk quotas for producers as part its upcoming revision of agricultural policy. Milk quotas, first introduced on the Swiss market in 1977 to counter overproduction, were aimed at guaranteeing minimum prices for farmers. Production had increased at the time because of government-guaranteed prices, but sales had failed to keep…

ABB to sell leasing activities to GE

This content was published on Aug 26, 2002 The move is part of a plan by ABB, the biggest electrical engineering group in Europe, to slash its debts. A transaction in which GE capital would acquire about 80 per cent of the SFr7 billion ($4.6 billion) leasing and portfolio held by ABB structured finance could be announced as early as Tuesday, according to…

Swiss set to join BA frequent flyer programme

This content was published on Aug 26, 2002 The move could take Swiss a step closer to its goal of full membership in the Oneworld global alliance led by British Airways and American Airlines. Full membership in the group is seen as the key for Swiss – which was set up earlier this year after the collapse of Swissair – to return a…

Cocoa price rise could leave bitter taste

This content was published on Aug 24, 2002 But who benefits from the rise in chocolate prices: manufacturers, West African producers or speculators? In August, the price of chocolate in Switzerland leapt by around five per cent. The Swiss arm of Nestlé says it is increasing the price of its chocolate products by an average of 4.5 per cent. “This increase varies from…

Swiss head for Earth Summit with high hopes

This content was published on Aug 24, 2002 The Swiss foreign minister, Joseph Deiss, insists an agreement can be reached on a global action plan to combat poverty and guarantee the Earth’s natural resources. “I am optimistic because the last few weeks have shown that everybody is very keen to find solutions,” Deiss told swissinfo. Deiss says his task as leader of the…

Farmers fighting declining revenues

This content was published on Aug 23, 2002 Farmers’ incomes dropped over eight per cent in 2001, while costs rose more than seven per cent. The protest on Friday kicked off a series of demonstrations against Swiss agricultural policy planned for the coming week. Organised by the Swiss Farmers’ Union, it highlighted the decline in farmers’ numbers, their increasing struggle to survive, as…

Bern shames its citizens into cleaning up their act

This content was published on Aug 23, 2002 Locals and visitors alike were shocked at what they saw – bins overflowing, plastic wrappers blowing around in the wind and a sea of cigarette buts. Worried that Bern is no longer among the world’s cleanest capitals, city authorities let the rubbish pile up on the streets for one day. The shocking – and very…

Pilot errors were likely cause of Crossair crash

This content was published on Aug 23, 2002 A preliminary report into the crash backed up earlier media reports that the Moldovan captain of the aircraft may have been under the influence of medication. Switzerland’s aircraft accident investigation bureau said traces of the tranquilliser Phenocepan were found in the body of the pilot, who died in the crash along with his two fellow…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Unaxis still in the red

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Sulzer profit slides

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Milk quotas under pressure

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ABB to sell leasing activities to GE

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Swiss set to join BA frequent flyer programme

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Cocoa price rise could leave bitter taste

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Swiss head for Earth Summit with high hopes

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Farmers fighting declining revenues

More

Bern shames its citizens into cleaning up their act

More

Pilot errors were likely cause of Crossair crash

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