Archive – Banking & Fintech

Coffee machines brew success for Swiss couple

This content was published on Feb 9, 2002 But the company located in the celebrated resort in canton Lucerne does not make the stuff of dreams. It makes coffee machines. While it would be rather tempting to scoff and ask “so what?”, it is something of an eye-opener to take a look behind the scenes of what is undoubtedly one of Switzerland’s most…

Swissair investigation ordered

This content was published on Feb 8, 2002 A statement to creditors and the media on Friday said that by agreement with the government and the canton of Zurich, the administrator had commissioned the consultancy firm, Ernst and Young, to carry out the investigation. An important focus of the investigation will be analysis of what is known as the “hunter strategy” by which…

Swissair announces sale of Swissport

This content was published on Feb 8, 2002 As expected, the British equity group, Candover Investments, has acquired the Swissair Group subsidiary. Swissport spokesman Stephan Beerli said Candover Investments would pay SFr274 million, while a consortium of banks, led by the Royal Bank of Scotland, would provide the balance of SFr306 million. Beerli added that no job losses were expected at Swissport, which…

Farmers demonstrate against rise in milk quota

This content was published on Feb 8, 2002 Around 50 farmers from all over Switzerland began the protest by placing a symbolic deposit of freshly produced milk outside the parliament building. The demonstrators said they had hoped to pour milk on the floor outside the office of the economics minister, Pascal Couchepin, in a gesture of defiance against the increase. But they were…

UBS to sell Hyposwiss

This content was published on Feb 8, 2002 UBS said in a statement on Friday that the move was aimed at streamlining its private banking activities in Zurich. It added that the sale, for an undisclosed price, would bring UBS a pre-tax profit of about SFr165 ($97.63 million). This profit will be reported in the income statement for the first quarter of 2002.…

Ringier deal for Jean Frey falls through

This content was published on Feb 8, 2002 The Basler Media Group, owner of the Jean Frey publishing house that produces the weekly “Weltwoche”, the “Bilanz” monthly business magazine and the bi-monthly “Beobachter”, said the titles would now be bought by a group of Swiss institutional and private investors. In a new agreement announced on Friday, the Basler Media Group, which publishes the…

Swiss tooth is sweeter than ever

This content was published on Feb 8, 2002 Statistics published on Friday reveal that the Swiss consumed on average 12.3 kilograms of chocolate per person during 2001. The figures represent a year-on-year increase of 400 grammes per person. “Swiss chocolate is becoming more and more popular at home as well as abroad,” said Chocosuisse in its annual review of the state of the…

Gotthard traffic situation expected to improve

This content was published on Feb 8, 2002 Waiting periods within the Gotthard currently run from three to four hours, but officials want to reduce the delays to an average of 50 minutes. The complicated plan would also speed up domestic traffic during the morning rush hour. The new measures being introduced by the Swiss Federal Roads Authority and the affected cantons would…

Carnival fun in Switzerland

This content was published on Feb 8, 2002 The carnival season has begun, though, throughout Switzerland, the dates and traditions vary from canton to canton. The festivities are rooted in pagan spring festivals, Christian rites and secular folk customs. Some cantons carry on the ancient pagan tradition of using fearsome masks to chase away evil spirits. One of the biggest carnivals, under way…

Swiss economy to hit bottom in the first quarter

This content was published on Feb 7, 2002 At a news conference in Zurich, economists from the ETH’s Business Cycle Research Institute said this should allow Switzerland to escape officially entering recession. “Switzerland will not enter into recession,” the Institute’s head, Bernd Schips said. “The classic definition of recession is two consecutive quarters of negative year-on-year growth and that we will not have,”…

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Archive – Banking & Fintech

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Coffee machines brew success for Swiss couple

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Swissair investigation ordered

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Swissair announces sale of Swissport

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Farmers demonstrate against rise in milk quota

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UBS to sell Hyposwiss

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Ringier deal for Jean Frey falls through

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Swiss tooth is sweeter than ever

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Gotthard traffic situation expected to improve

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Carnival fun in Switzerland

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Swiss economy to hit bottom in the first quarter

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