Archive – Banking & Fintech

Swiss firms hit by new transparency rules

This content was published on Apr 17, 2002 The SWX’s Admission Board voted on Wednesday to adopt a code of conduct that will apply to all companies listed on the exchange. The measures come into force later this year. The rules are designed to establish minimum standards of transparency. Companies will be required to publish information about their structure, their shareholders and the…

Ernst & Young merges with Andersen Switzerland

This content was published on Apr 17, 2002 The new company, which will operate under the name, Ernst & Young, will employ 2,500 people with an annual turnover of SFr520 million ($314 million). It will provide services including audit, risk advice, and legal and fiscal assistance. The merger should enable the new Ernst & Young to challenge PriceWaterhouseCoopers, the current Swiss market leader.…

Nuance travel retail group finds Italian buyer

This content was published on Apr 17, 2002 The PAM retail group is to buy Nuance – the world’s biggest airport retailer – for an undisclosed amount. Under the terms of the deal, Nuance will become a 100 per cent subsidiary of PAM. The group will continue to operate as an independent business unit under its current management team led by CEO Peter…

Valora reports “most successful” year

This content was published on Apr 17, 2002 Valora, which is based in Bern, said net profit was up by 17.7 per cent over the previous year, totalling SFr118.6 million ($71.36 million).Sales increased by 7.6 per cent to SFr2.63 billion. The news pushed up the share price by about five per cent to SFr310 in early trading on Wednesday at the Swiss Stock…

Adecco income drops 38 per cent

This content was published on Apr 17, 2002 Adecco, which is the world’s largest employment services group, also declared first-quarter sales of SFr6 billion, down 11 per cent. The company said on Wednesday that it saw signs of a recovery in the second half of 2002. Analysts expect Adecco’s net income to fall in 2002 to around SFr76 million. swissinfo with agencies

Two major Swiss retailers team up

This content was published on Apr 16, 2002 A joint statement, published on Tuesday, said Coop would acquire 40 per cent of EPA’s share capital, with an option to take over a majority by 2009. Under the deal, Coop and EPA would jointly operate more than 70 department stores and restaurants across Switzerland. However, the stores would retain their Coop and EPA names.…

Italian strikers hamper Swiss traffic

This content was published on Apr 16, 2002 Heavy goods traffic from Switzerland to Italy came to a standstill on Tuesday after Italian customs officials joined the strike. Police in the Swiss canton of Ticino said they had ordered all southbound lorries to wait in lay-bys along the main transalpine motorway through Switzerland. A spokesman said many truck drivers were aware of the…

Kudelski puts brave face on disappointing Europe

This content was published on Apr 16, 2002 The figure fell somewhat short of market expectations and was due to a provision for legal costs. Kudelski, which is based near Lausanne, warned that the first half of this year would not be so easy, as a number of European digital broadcasters faced a struggle for survival. Kudelski supplies security installations to broadcasters, and…

Kudelski announces SFr72.1 million profits

This content was published on Apr 16, 2002 While the result falls slightly short of the firm’s own predictions, some analysts expected Kudelski to reach SFr85 million in profits. The company said the increase came despite extraordinary costs, including provision for legal risk of SFr16.3 million. Kudelski expects trading in the first half of this year to remain tough, with a promising second…

Roche first-quarter sales up

This content was published on Apr 16, 2002 The company expects mid to high single digit growth to continue for the remainder of the year. Sales in Roche’s drug division rose five percent, when expressed in Swiss francs, while its diagnostics businesses yielded 9 percent. Franz Humer, Roche’s CEO, rejected speculation that the company was preparing a merger with drug giant Novartis. swissinfo…

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Archive – Banking & Fintech

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Swiss firms hit by new transparency rules

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Ernst & Young merges with Andersen Switzerland

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Nuance travel retail group finds Italian buyer

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Valora reports “most successful” year

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Adecco income drops 38 per cent

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Two major Swiss retailers team up

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Italian strikers hamper Swiss traffic

More

Kudelski puts brave face on disappointing Europe

More

Kudelski announces SFr72.1 million profits

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Roche first-quarter sales up

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