Archive – Banking & Fintech

Swiss health costs second highest in the world

This content was published on Jun 14, 2002 The authorities say health care costs rose by 4.1 per cent to SFr43.3 billion ($27.7 billion) in the year 2000. The rise is slightly above average compared with the previous five years, according to a statement by the Federal Statistics Office. Private households paid about SFr1 billion more towards health costs than they did in…

Victorinox bids for rest of Swiss Army Brands

This content was published on Jun 14, 2002 Victorinox, one of the two companies that make Swiss army knives, already has a two-thirds stake in Swiss Army Brands. It has tabled an offer worth $9 per share, or $24.9 million (SFr38.87 million) for the remaining third. According to documents submitted to the American Securities and Exchanges Commission, the stock market watchdog, the purchase…

Phonak upbeat despite plummeting profits

This content was published on Jun 13, 2002 But the company said it expects higher sales and a profit recovery of 20 per cent in the next year, due to new product launches and trimmed down costs. Phonak, which reshuffled its management in April, has had a turbulent few months with profit warnings, falling stock prices and the abrupt resignation of CEO Peter…

No licence for Chur

This content was published on Jun 13, 2002 Barely one week after three of the country’s top division football clubs were relegated because of insufficient funds, Chur have been denied a licence to play in either of the top two ice hockey leagues. Chur were relegated to the second division last season, following some disappointing performances on the ice. But now their financial…

Scientists break new barrier in data storage capacity

This content was published on Jun 12, 2002 Researchers at IBM say they have demonstrated how one trillion bits of information can be stored on a single square inch of silicon – that is 20 times more than the densest magnetic storage available today. This density would be enough to store 25 million textbook pages on a surface the size of a postage…

Parliament vetoes special probe into Swissair debacle

This content was published on Jun 12, 2002 The planned investigation was intended to determine whether the federal authorities were culpable in the collapse of the national airline. Two of the four main political parties were keen to examine whether any blame can be levelled in particular against the Federal Office for Civil Aviation and the State Secretariat for Economic Affairs. The decision…

Credit Suisse cuts 500 more jobs

This content was published on Jun 12, 2002 The cuts are in addition to the 700 to 800 reductions that Credit Suisse announced last year. The bank said they would mainly affect support functions and would be achieved through natural wastage by the end of 2003. Credit Suisse said in a statement that the move should boost the bank’s earnings by SFr100 million…

Swiss sweeten China offensive with SFr20 million loan

This content was published on Jun 11, 2002 The visit, during what has been designated “Swiss Innovation Week”, is intended to give Swiss business a foothold in the Chinese market, which is progressively becoming more open to foreign firms since Beijing joined the World Trade Organisation (WTO) last year. Welcoming the delegation at an official ceremony, the Chinese deputy minister for foreign trade,…

Alpine farming giving way under competition pressures

This content was published on Jun 11, 2002 Economic pressure is forcing mountain farmers to give up milk production and to rear cattle for meat. The change means that farms are getting bigger while their numbers are declining. “The way the land is used will also have ecological consequences,” warned project manager, Nikolaus Gotsch. “There will be more pasture instead of the cutting…

Ascom to sell business unit

This content was published on Jun 11, 2002 The Bern-based company on Tuesday said it expected to finalise the sale of Electronic Transactions to French telecommunications group, Sagem, in the second half of 2002. The deal would have a “positive cash impact” on the company’s balance sheet, it said. Electronic Transactions employs about 180 employees and makes payment terminals and vending machines –…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Swiss health costs second highest in the world

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Victorinox bids for rest of Swiss Army Brands

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Phonak upbeat despite plummeting profits

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No licence for Chur

More

Scientists break new barrier in data storage capacity

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Parliament vetoes special probe into Swissair debacle

More

Credit Suisse cuts 500 more jobs

More

Swiss sweeten China offensive with SFr20 million loan

More

Alpine farming giving way under competition pressures

More

Ascom to sell business unit

Popular Stories

Most Discussed