Archive – Banking & Fintech

Apartheid victims launch class action against Swiss banks

This content was published on Jun 17, 2002 Ed Fagan – a US-based lawyer who has previously won class-action suits on behalf of Holocaust victims – said he would launch “multi-billion dollar” legal proceedings in New York against Switzerland’s two largest banks, UBS and Credit Suisse, as well as the American bank, Citicorp. Fagan announced details of the legal proceedings on Monday in…

Swiss development aid falls short of target

This content was published on Jun 17, 2002 On Monday, two government agencies – the Swiss Secretariat for Economic Affairs (Seco) and the Swiss Agency for Development and Cooperation (SDC) – reported that official development assistance (ODA) had reached SFr1.531 billion ($978 million) in 2001. The report reveals that in comparison to figures released for 2000, ODA rose only slightly last year and…

Mountain policy in need of change

This content was published on Jun 16, 2002 In an address to experts from the world’s mountain regions gathered in Switzerland, Couchepin said that a balance needed to be found between preserving the environment and economic growth. The five-day conference in Adelboden in the Bernese Oberland is preparing a strategy for the Alps, which will be presented to the World Summit on Sustainable…

Apartheid victims to claim compensation from Swiss banks

This content was published on Jun 16, 2002 According to the Swiss newspaper, “SonntagsZeitung”, Ed Fagan – a US-based lawyer who has previously won class-action victories on behalf of Holocaust victims – will launch legal proceedings in New York on Monday against Switzerland’s two largest banks, UBS and Credit Suisse. Fagan’s Swiss-based associate, Norbert Gschwend, confirmed on Sunday that 80 people had already…

Credit Suisse boss sees no need for more redundancies

This content was published on Jun 16, 2002 In an interview with the Swiss newspaper, “SonntagsZeitung”, Wellauer denied the banking group had any plans to make further cuts in the size of its workforce. “The future is always uncertain,” Wellauer said, “but for the moment I don’t see any reason for further cuts.” Switzerland’s second biggest financial institution announced on June 12 that…

Sparks fly in campaign on electricity law

This content was published on Jun 16, 2002 If the electorate approves the proposals, industrial consumers and private households will be able to choose their power supplier once the electricity market is fully liberalised within six years. The new law also foresees the establishment of a national network company in order to ensure third party access to all parts of the grid. Switzerland…

High hopes for mountain conference

This content was published on Jun 15, 2002 The five-day conference in Adelboden in the Bernese Oberland is preparing a strategy for the Alps, which will be presented to the World Summit on Sustainable Development in Johannesburg, South Africa later this year. Participants will have an opportunity to discuss the progress made in the ten years since the Rio Earth Summit. “Sustainable development…

Swiss cement closer business ties with China

This content was published on Jun 15, 2002 An accord, signed in Zurich on Monday by Business Network Switzerland (OSEC) and the Chinese Chamber of Commerce, is aimed at forging closer working relationships between small and medium sized enterprises (SMEs) in the two countries. David Syz, second in command at the Swiss economic ministry, led the week-long trip to China, which took business…

Global slump cuts Ascom down to size

This content was published on Jun 14, 2002 Ascom announced on Friday that it intends to sell off more businesses in a move which would reduce the company’s sales by half. The debt-strapped telecoms technology group said it plans to reposition itself as a “niche” player. 4,000 jobs threatened It added that the planned divestments would leave it with a medium-term sales target…

“Swiss” steps up airline security

This content was published on Jun 14, 2002 The carrier said on Friday it had fitted bulletproof cockpit doors in all 26 aircraft servicing long-haul routes, at a cost of SFr140,000 per plane. Spokesman Markus Baumgartner said swiss was one of the first airlines to introduce the new security measures following September 11, when terrorists attacked key targets in the US using four…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Apartheid victims launch class action against Swiss banks

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Swiss development aid falls short of target

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Mountain policy in need of change

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Apartheid victims to claim compensation from Swiss banks

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Credit Suisse boss sees no need for more redundancies

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Sparks fly in campaign on electricity law

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High hopes for mountain conference

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Swiss cement closer business ties with China

More

Global slump cuts Ascom down to size

More

“Swiss” steps up airline security

Popular Stories

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