Archive – Banking & Fintech

A Swiss outcast in Zimbabwe

This content was published on Aug 14, 2002 For Ziegler and his family, the threats, intimidation and violence have become too much. In May, Ziegler and his family abandoned their award-winning tobacco farm west of the country’s capital, Harare, leaving behind almost 20 years of work. Like many white farmers in Zimbabwe, Ziegler looks likely to end up with nothing. His case –…

Roche sees net income plummet

This content was published on Aug 14, 2002 The company blamed weak financial markets for the poor result. The net income result was well below analysts’ expectations of SFr2.6 billion and was significantly lower than last year’s first-half figure of SFr2.99 billion. Sales rose by two per cent to SFr14.737 billion, but this was also below analysts’ expectations of SFr15 billion. “Owing to…

Credit Suisse plunges into the red

This content was published on Aug 14, 2002 The loss – which comes after CS reported a net profit of SFr368 million for the first quarter – was worse than expected. Net loss for the first half of the year was SFr211 million, following a net profit of SFr2.7 billion for the corresponding period of 2001. The result was in marked contrast to…

Embattled insurers face weather claims

This content was published on Aug 13, 2002 One insurer likely to have to shoulder much of the cost, Swiss Re, blames the unusual weather conditions on global warming. “The average global temperature has risen, which has pushed up average humidity. This in turn leads to flooding,” Pamela Heck, a climate risk expert at Zurich-based Swiss Re, told swissinfo. Swiss Re, the world’s…

UBS net profit down amid “mixed” outlook

This content was published on Aug 13, 2002 The better-than-expected result was slightly above market expectations. Peter Wuffli, UBS Group president, said the result showed the bank had come through recent stock market troubles without serious damage. “We have weathered the storm reasonably well, no disasters despite the rough market conditions,” said Wuffli. However, the bank again warned that it did not expect…

Disability is no handicap at Expo

This content was published on Aug 12, 2002 Most of the infrastructure at the four exhibition sites was designed with the handicapped in mind. About one in ten people in Switzerland is physically or mentally handicapped, and organisations representing them have set up a special committee – handicap.02 – to ensure that their needs are catered for at Expo.02. A special Expo guide…

Profit takes a battering at Phoenix-Mecano

This content was published on Aug 12, 2002 The firm said in a statement on Monday that increased competition, adverse foreign exchange developments and higher taxes were to blame for the fall. Sales fell by 15 per cent in the first six months to SFr254 million, while new orders dropped by eight per cent to SFr263 million. No signs of recovery Commenting on…

Aladdin’s Cave offers cheap loans

This content was published on Aug 12, 2002 The Zurich Cantonal Bank pawnbroker shop is home to everything from Samurai swords to Swatch watches to silk carpets. The shop, tucked away in a suburb a few blocks from the wealth and glamour of Zurich’s celebrated Bahnhofstrasse, is a small treasure chest that one could easily miss. It attracts all kinds of people who…

Syngenta under pressure to dump “deadly” pesticide

This content was published on Aug 10, 2002 The Berne Declaration used the recent International Agrochemical Congress in Basel to highlight studies which, it says, prove that a Syngenta pesticide is too dangerous to be used. It says farmers and plantation workers who used the pesticide were found to suffer severe health problems, and many deaths were caused by exposure to the substances.…

Swiss firms unfazed by US corporate governance law

This content was published on Aug 10, 2002 The handful of Swiss companies listed on the NYSE say their accounting procedures largely fulfil the requirements of US law, even though they are not obliged to follow American rules. “This new law doesn’t have any influence on our accounting practices because we don’t have our headquarters in the United States,” Felix Raeber, spokesman for…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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A Swiss outcast in Zimbabwe

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Roche sees net income plummet

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Credit Suisse plunges into the red

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Embattled insurers face weather claims

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UBS net profit down amid “mixed” outlook

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Disability is no handicap at Expo

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Profit takes a battering at Phoenix-Mecano

More

Aladdin’s Cave offers cheap loans

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Syngenta under pressure to dump “deadly” pesticide

More

Swiss firms unfazed by US corporate governance law

Popular Stories

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