Archive – Banking & Fintech

US bank predicts Swiss stagnation

This content was published on Nov 14, 2001 It is the first financial institution that is no longer counting on growth of Swiss Gross Domestic Product (GDP) next year. In a study, the bank argues that recent shocks could hit the Swiss economy hard and, compared with Euroland, there is less potential for a rebound later. Attacks affected economy Economists at Goldman Sachs…

Markets recover nerve after airliner crash

This content was published on Nov 13, 2001 Switzerland’s blue-chip Swiss Market Index was trading up more than two per cent by mid-afternoon on Tuesday after suffering a 1.8 per cent decline earlier. Markets in London, Paris and Frankfurt were also wiping out the previous day’s losses as investigators pointed to an accident rather than terrorist activity as the cause of the tragedy.…

WTO delegates scramble for last-minute accord

This content was published on Nov 13, 2001 No accord has been reached on many of the top issues discussed in Doha, which include agriculture, textiles, investment, competition and the environment. So far, the delegates have only arrived at an agreement on developing nations’ access to medications. A final text was adopted on Tuesday, although it was qualified as a political accord rather…

New York crash highlights market fragility

This content was published on Nov 13, 2001 The blue-chip Swiss market index had been trading relatively flat during the week’s opening session but shed more than two per cent shortly after the airliner went down. It eventually closed down 1.8 per cent to 6229.1. Some of the hardest hit stocks were those of insurance companies, already expecting big claims because of the…

UBS profit falls more than a third

This content was published on Nov 13, 2001 The result was even worse than analysts had forecast and UBS said it expected deteriorating economic conditions to continue to affect performance in the short term. The third quarter figure compared with a profit figure of SFr1.385 billion for the second quarter of the year. UBS Warburg’s, the investment arm, saw its pre-tax profit fall…

Airliner crash apparently accidental, officials say

This content was published on Nov 13, 2001 The plane slammed into the borough of Queens shortly after takeoff from JFK airport early on Monday morning. The crash comes just two months after two hijacked airliners were flown into the twin towers of the World Trade Center, killing more than 4,500 people. Investigators indicated the latest crash is apparently not a repeat of…

New York reels from its latest tragedy

This content was published on Nov 13, 2001 On Monday morning at around 0915 local time an American Airlines jet headed for Santo Domingo in the Dominican Republic, crashed into the metropolitan borough of Queens, minutes after taking off from John F Kennedy airport. The city’s mayor, Rudolph Giuliani, said none of the 255 people on board had survived. He added that 161…

At least 255 people killed as plane crashes in New York

This content was published on Nov 12, 2001 Guiliani said that all 246 passengers and 9 crew members had died, when the A-300 airbus ploughed into a residential area, shortly after take-off from John F Kennedy International Airport. The plane was headed for Santo Domingo in the Dominican Republic and took-off at 0915 local time. He added that 161 bodies had already been…

Plane crashes in New York

This content was published on Nov 12, 2001 The plane crashed shortly after take off from John F Kennedy International Airport at about 0915 local time, bound for Santo Domingo in the Dominican Republic. Officials sealed off all bridges and tunnels into the city, following the crash, and closed New York’s three airports. “The airports have been closed, and as a precaution we…

Plane crash sends markets tumbling

This content was published on Nov 12, 2001 Key European indices fell by as much as 3.5 per cent immediately after the crash, driven down by airline stocks. British Airways dropped by almost 11 per cent, with Alitalia and Lufthansa falling by 10 and six per cent respectively. “This is going to be very much a knee-jerk reaction,” said analyst, David Thwaites, of…

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Archive – Banking & Fintech

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US bank predicts Swiss stagnation

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Markets recover nerve after airliner crash

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WTO delegates scramble for last-minute accord

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New York crash highlights market fragility

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UBS profit falls more than a third

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Airliner crash apparently accidental, officials say

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New York reels from its latest tragedy

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At least 255 people killed as plane crashes in New York

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Plane crashes in New York

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Plane crash sends markets tumbling

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