Archive – Banking & Fintech

Publigroupe expects large loss over year

This content was published on Oct 31, 2001 In September, the Lausanne-based company had said it expected to make a profit of around SFr25 million ($15.4 million) but the current economic uncertainty forecast Wednesday’s revision. Profit last year was SFr140 million. Publigroupe also announced the intended divestment of its United States unit, Real Media Group, to 24/7 Media in return for a 15…

Central bank cuts growth forecast in half

This content was published on Oct 30, 2001 The economy is now expected to grow by one per cent instead of the two per cent estimated by the SNB in August, according to the Bank’s vice president, Bruno Gehrig. Speaking in Frankfurt on Tuesday at the Swiss-German Economics Club, Gehrig said the weak global economy was responsible for the lower forecast. “Experience shows…

Court paves way for rash of lawsuits against Sulzer Medica

This content was published on Oct 30, 2001 The ruling by the federal appeals court is a blow to the medical technology company, which had attempted to settle out-of-court claims arising from faulty product recalls. It overturns a temporary injunction granted by a lower court that had blocked individual suits while a settlement was under discussion. Sulzer Medica in August proposed a $780…

Georg Fischer issues profit warning

This content was published on Oct 30, 2001 “Since the publication of the our first-half results,” said a company statement, “conditions in our markets have gradually deteriorated.” It added that there was increasing uncertainty in American, Asian and European markets since the September 11 attacks. It pointed out that last year’s figures had been boosted by an exceptional first quarter. Georg Fischer made…

Serono cuts profit forecast

This content was published on Oct 30, 2001 The Geneva-based company says it now expects full-year profit growth to come in at between six to eight per cent rather than the 20 per cent forecast earlier. It said spending on its flagship multiple sclerosis treatment, Rebif, in the United States and lower interest rates had forced a rethink. Serono reported a 13 per…

Aid groups urge fair deal for poor nations at WTO meeting

This content was published on Oct 29, 2001 In a high-profile appeal on behalf of poorer countries, the head of the International Labour Organisation (ILO), Juan Somavia, said urgent action was needed to stimulate the ailing world economy, and that developing countries must play a part in that process. “We must act quickly to revive the economy, and measures must not be restricted…

Subsidiaries floundering after Swissair collapse

This content was published on Oct 29, 2001 No details were disclosed but the head of the task force, Swiss finance director Peter Siegenthaler, is due to answer questions from the media on Tuesday morning. Top of the agenda on Monday was the financial plight of three Swissair subsidiaries – the maintenance division, SR Technics, the Atraxis software producer and the ground handling…

Kudelski shares take off on news of US deal

This content was published on Oct 29, 2001 Kudelski’s stock closed at SFr98.90 after opening the session at SFr105. Analysts said the American deal had the potential to substantially increase Kudelski’s client base. Its US customers currently number 23 million but analysts say the Echostar transaction could boost the figure to 34 million. General Motors agreed on Sunday to sell its satellite television…

Synthes-Stratec sells European prosthetics business

This content was published on Oct 29, 2001 Announcing the deal, Synthes-Stratec, said it wanted to concentrate on its core business of osteosynthesis. The sale price was not announced. The transaction goes through on November 26 and affects around 150 employees in Oberdorf, Hägendorf and Mezzovico in canton Ticino. A spokesman for Synthes-Stratec said a great number of the workers would be taken…

Cities beat autumn blues

This content was published on Oct 29, 2001 A dozen ships anchored at Zurich’s Burkliplatz will be laden with about 200,000 bottles representing the cream of the world’s wines, from November 1 to 15. Now in its 48th year, the exhibition “Expovina” invites connoisseurs and the merely curious to taste and buy, or simply to drink in the atmosphere aboard a decked-out ship.…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Publigroupe expects large loss over year

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Central bank cuts growth forecast in half

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Court paves way for rash of lawsuits against Sulzer Medica

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Georg Fischer issues profit warning

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Serono cuts profit forecast

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Aid groups urge fair deal for poor nations at WTO meeting

More

Subsidiaries floundering after Swissair collapse

More

Kudelski shares take off on news of US deal

More

Synthes-Stratec sells European prosthetics business

More

Cities beat autumn blues

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