Archive – Banking & Fintech

Gotthard traffic nightmare returns

This content was published on Jan 9, 2002 Witnesses said there was chaos on canton Ticino roads leading to the Gotthard tunnel, which is the main gateway through the Alps from Germany to Italy. The control post at Quinto was overwhelmed with traffic, and police diverted some trucks to the San Bernardino Pass. Transport officials told swissinfo they were braced for increased traffic…

Swiss luxury hotel passes into German hands

This content was published on Jan 9, 2002 Lindner Hotels of Dusseldorf bought the five star hotel from Credit Suisse’s estates division. The new owners said there would be no changes to the palace’s management and board. The 55 employees have had their contracts renewed and Lindner Hotels said they were starting a year-long renovation programme. The Lindner group own 19 hotels in…

Coop announces gains in market share

This content was published on Jan 9, 2002 Coop said in a statement from its headquarters in Basel that sales had increased by 4.8 per cent last year to reach SFr12.7 billion ($7.66 billion). It added that the first financial year of the new Coop, formed from the merger of regional Coop societies and Coop Switzerland, had been “successful”. Retail sales increased by…

Zurich completes separation of its reinsurance business

This content was published on Jan 9, 2002 A statement said that under the supplementary option relating to the initial public offering of the company, an additional 12.5 per cent of Converium shares had been sold, bringing the total stake disposed of by Zurich to 100 per cent. At the issue price of SFr82 ($49.49), Converium (formerly Zurich Re) has a market capitalisation…

Migros posts a sales record

This content was published on Jan 8, 2002 Migros, a federation of cooperatives, said in a statement from its Zurich headquarters that although it businesses had felt the effects of the economic slowdown, its group cooperatives had performed well. Migros said its 10 regional cooperatives had achieved sales revenues of SFr13.985 billion last year, some 2.9 per cent higher than in 2000. Growth…

Jelmoli plans to split activities

This content was published on Jan 8, 2002 A group statement released on Tuesday said that each existing registered or bearer share as a whole would be replaced with unitary shares: in the new Jelmoli Retail Trading Holding and the new Jelmoli Real Estate Holding. Group strategy has focussed in recent years on two clearly defined sectors: retail trade (Jelmoli Zurich, Fust, Portable…

Sharp increase in jobless figures

This content was published on Jan 8, 2002 The jobless rate rose in December to 2.4 per cent or 86,027 people, according to figures released on Tuesday by the State Secretariat for Economic Affairs in Bern (Seco). Included in this figure are around 1,600 Swissair staff who lost their jobs in December, plus an unspecified number of workers whose livelihoods depended on the…

Swiss solution for oil slicks

This content was published on Jan 7, 2002 Researchers at Lausanne’s Federal Institute of Technology (EPFL) have come up with a more modern and effective way of limiting the devastation caused when oil tankers shed their cargo. The EPFL’s Hydraulic Construction Laboratory is developing a system able to recover, transport and store quantities of spilt hydrocarbons much larger than is possible at present.…

Unions call for weaker Swiss franc to help economy

This content was published on Jan 7, 2002 At the Federation’s annual news conference in Bern, Secretary Serge Gaillard said a weaker franc would be helpful for a rapid recovery of the Swiss economy. “The Swiss National Bank should aim at a margin fluctuating between 1.5 and 1.6 francs to the euro,” Gaillard said. He added that in the 1990s Switzerland had for…

Swiss and German regional railways connect in Basel

This content was published on Jan 7, 2002 The so-called “Orange line” now connects the German town of Offenburg with Basel via Freiburg in Breisgau. The line is an extension of an existing service. Until now, most travellers had to get on and off regional trains for Germany at Basel’s German station, which meant many of them faced cross-town trips to reach their…

Archive – Banking & Fintech

Popular Stories

Most Discussed

Sign in and personalize Swissinfo

Archive – Banking & Fintech

More

Gotthard traffic nightmare returns

More

Swiss luxury hotel passes into German hands

More

Coop announces gains in market share

More

Zurich completes separation of its reinsurance business

More

Migros posts a sales record

More

Jelmoli plans to split activities

More

Sharp increase in jobless figures

More

Swiss solution for oil slicks

More

Unions call for weaker Swiss franc to help economy

More

Swiss and German regional railways connect in Basel

Popular Stories

Most Discussed