Archive – Banking & Fintech

Watchdog keeping tabs on Ebner’s bank

This content was published on Aug 6, 2002 Banking regulators confirmed they were monitoring BZ Bank’s finances on a daily basis, a week after its parent company, BZ Group, was forced to cede control of its four major listed investment funds. “We are watching BZ Bank,” said Kurt Bucher of the Federal Banking Commission. “It’s not surprising that we would want a daily…

Nestlé buys Chef America for $2.6 billion

This content was published on Aug 6, 2002 The move is being seen by analysts as a move by the world’s largest food group to cement its position in the fast-growing US frozen food market. “Chef America is an ideal and strategically important complement to our own frozen food activities in the United States,” said Nestlé chief executive Peter Brabeck. Nestlé said the…

Expo pulls the crowds but not the cash

This content was published on Aug 5, 2002 Expo’s director Nelly Wenger said on Monday in Biel the number of visitors was about to reach 4.5 million, slightly more than 42 per cent of the final target organisers have set for the exhibition. “It’s a popular success because of the feedback we are getting both from visitors, the media and opinion polls,” said…

Swiss watch sales fall in biggest export markets

This content was published on Aug 5, 2002 The six markets account for 60 per cent of the total value of exports of watches, clocks and movements. The figures, from the Federation of the Swiss Watch Industry, show that Hong Kong is the number one export market for Swiss watches and movements with a value of SFr714.6 million (-3.2 per cent). It is…

Banks grant Ebner loan relief

This content was published on Aug 5, 2002 The Wall Street Journal quoted unnamed sources as saying that eight creditor banks – including Credit Suisse – had agreed to allow the Group to miss scheduled loan payments for about a year. The payments would amount to around SFr3 billion, the sources said. Both BZ Group and Credit Suisse declined to comment on the…

Swiss horse saddles up for showcase event

This content was published on Aug 5, 2002 Some 4,000 to 5,000 visitors are expected to gather in the Jura over the next week for a series of equestrian events which culminate next weekend in the 99th Marché-Concours (or horse fair). The week also marks the official start of the country’s show jumping, racing and dressage season. Franches-Montagnes showcase For almost 100 years,…

Swiss financier admits mistakes

This content was published on Aug 5, 2002 In his first comments since the sale of the funds last week, Ebner said he had been forced to act because of the stock market slump. But he also admitted flaws in his business strategy. “The mistake we made was in having a portfolio that was not diversified enough,” Ebner told Swiss television on Sunday.…

Ebner’s Empire

This content was published on Aug 5, 2002 1985: The BZ Group is born Aged 39, Martin Ebner leaves Vontobel Bank after the family run firm refuses him a partnership. He founds the BZ group (originally called Bank Zurich). Right-wing politician and millionaire businessman Christoph Blocher, an old university friend of Ebner’s, becomes one of BZ’s first clients. 1991: Old friends and a…

Rambling through Switzerland’s breadbasket

This content was published on Aug 5, 2002 The 80 km-long path takes you from the towns of Granges-Marnand and Echallens, through the rich agricultural land which straddles the borders of canton Vaud and Fribourg. The regions through which the trail leads – La Broye and Gros-de-Vaud – lack major transport infrastructure and you will not end up there by chance. Over the…

Ebner: beaten at his own game?

This content was published on Aug 3, 2002 Martin Ebner, who used to boast that he believed in financing his investments conservatively, passed majority control of the funds – worth around SFr3 billion ($2 billion) – to Zurich Cantonal Bank this week after their value plummeted. The bank, which is guaranteed by the state, announced on Wednesday that had taken charge of the…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Watchdog keeping tabs on Ebner’s bank

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Nestlé buys Chef America for $2.6 billion

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Expo pulls the crowds but not the cash

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Swiss watch sales fall in biggest export markets

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Banks grant Ebner loan relief

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Swiss horse saddles up for showcase event

More

Swiss financier admits mistakes

More

Ebner’s Empire

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Rambling through Switzerland’s breadbasket

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Ebner: beaten at his own game?

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