Archive – Banking & Fintech

Through the looking glass factory

This content was published on Oct 22, 2001 About 25 craftsmen are busily taking molten glass out of a large furnace and pouring it into moulds or blowing it into shape. They are outnumbered by the visitors watching from the viewing platform in the Glasi Hergiswil factory. About 200,000 visitors come to the factory every year (located just south of Lucerne on the…

Nestlé streamlines information flow

This content was published on Oct 21, 2001 The Vevey-based company, which has an annual turnover of SFr62.4 billion ($38 billion), has spent the last 13 years buying up major brands including Buitoni and Rowntree in 1988, Perrier in 1992 and San Pellegrino in 1998. As a result of this buying spree, Switzerland’s largest company has become an unwieldy conglomerate, with each factory…

Impasse over Swissair salvage plan

This content was published on Oct 21, 2001 The sticking point was the question of who would foot the bill for the estimated SFr1 billion ($610 million) set up costs for the new national airline, Crossair. According to the Swiss newspaper, the “SonntagsZeitung”, the government said it would provide more than half of the required SFr940 million ($572 million) start up funds, agreeing…

Funds encourage humane, pro-environment investment

This content was published on Oct 21, 2001 To qualify for funding, companies must prove that their environmental and social policies are acceptable to the banks’ fund managers. Investments in alcohol or tobacco can be turned away, and companies without effective trade union representation or equal opportunity policies for their staff may also face rejection. Carol Franklin, head of the WWF Switzerland, told…

To fly or not to fly

This content was published on Oct 21, 2001 Last week the Swiss government said it was willing to help rescue the national airline industry in the wake of the spectacular collapse of the Swissair Group, but made it clear that it would only do so if the private sector provided a large chunk of the funds required. Officials from the federal government, local…

Agro-tourism helps one Swiss farm thrive

This content was published on Oct 21, 2001 Ulrico Feitknecht told swissinfo that the farm he runs with his wife Rose produces pigs, seed maize, soybeans, cereals and potatoes and 1,800 litres of milk each day from their dairy herd. However, farmers in Switzerland have suffered from lower agricultural prices over the past few years, encouraging more and more farmers to diversify their…

Swissair crisis continues

This content was published on Oct 20, 2001 With the government, local authorities, banks and business leaders still discussing plans to save the country’s airline industry arguments have raged about the likelihood of the plans’ success. Employees at Swissair, which collapsed at the start of the month under a huge debt burden, were among the most concerned as they petitioned the government for…

Crossair takes fright at prospect of absorbing Swissair

This content was published on Oct 19, 2001 The warning came as the government held talks with banks and private industry to try to raise enough cash to press ahead with a salvage plan under which Crossair is to acquire 26 long-haul and 26 short-haul Swissair planes. Crossair was due to decide on Friday whether it could absorb the aircraft, but postponed the…

Mikron shares fall after results warning

This content was published on Oct 19, 2001 Mikron, which makes production equipment and components, said on Friday it expected a loss for the year of up to SFr95 million ($57.82 million) from a previous target of a negative SFr65 million, to SFr70 million. The news sent Mikron shares tumbling on the Zurich stock exchange. Shortly after trading opened, they fell to SFr96,…

Tornos shares take a battering at the bourse

This content was published on Oct 19, 2001 Shortly after trading opened on Friday, the share price fell by SFr7.10 ($4.32) or 18.39 per cent to SFr31.50. By the close of trade, the price had slipped still further to end the day on SFr30.90. Trading in Tornos shares had been suspended on Thursday. The lathe maker and supplier has said it expects sales…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Through the looking glass factory

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Nestlé streamlines information flow

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Impasse over Swissair salvage plan

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Funds encourage humane, pro-environment investment

More

To fly or not to fly

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Agro-tourism helps one Swiss farm thrive

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Swissair crisis continues

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Crossair takes fright at prospect of absorbing Swissair

More

Mikron shares fall after results warning

More

Tornos shares take a battering at the bourse

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