Archive – Banking & Fintech

Zurich’s US unit confuses Sweden with Switzerland

This content was published on Aug 2, 2001 However, as Scudder tried to promote itself as a savvy global mutual fund manager it also managed to confuse the two nations in a full-page advertisement in the Tuesday’s Wall Street Journal. “How many lightning bolts does it take to change a stock market,” the ad asks in bold lettering emblazoned over a dramatic photograph…

Marron steps down from PaineWebber

This content was published on Aug 2, 2001 Marron, who at one point was a candidate for chairman of the United States Securities and Exchange Commission, agreed to sell PaineWebber to UBS after a 20-year reign as head of the firm. Marron agreed to sell the company for $10.8 billion last July, a price that valued his stake in the company at $215…

Zeppelin postal delivery slowed by wind

This content was published on Aug 1, 2001 The zeppelin, in its first flight over the region, picked up the mail from a motorboat at Lake Lucerne to deliver it to Altenrhein. However, the manoeuvring turned out to be more troublesome than expected. The “Friedrichshafen” had trouble keeping its position, which made hauling the postal sacks a real challenge. But the mail bags…

Graubünden draws new business with five-star service

This content was published on Jul 31, 2001 With resorts such as Davos, Klosters and St Moritz all located within its borders, it’s no surprise that 60 per cent of Graubünden’s income comes from tourism. But now the canton is using top-drawer service to attract investors, offering assistance that varies from helpful contacts to tax breaks, loans and even cash injections. Eugen Arpagaus,…

Victorinox and Swiss Army Brands plan new watch business

This content was published on Jul 31, 2001 A joint announcement said that the new company, Victorinox Swiss Army Watch, would market and distribute a single unified brand in all international markets outside the United States, Canada and the Caribbean. Victorinox and Swiss Army Brands will each contribute an equivalent anount of cash, inventory and their entire watch businesses outside the US, Canada…

Lower petrol prices put a brake on inflation

This content was published on Jul 31, 2001 The annual inflation rate fell to 1.4 per cent in July, compared with 1.6 per cent in June and 1.9 per cent in July last year. Commenting on the figures, the office said that the slight decline in the price index was due mainly to lower transport costs (-1.4 per cent), which had been influenced…

Silicon Graphics closes plant in Switzerland, 300 lose jobs

This content was published on Jul 30, 2001 The company, also known as sgi, said the move was being made in response to economic pressures caused by the global IT downturn and was part of a restructuring plan designed to restore the company’s financial health. Silicon Graphics said it expected to close its manufacturing facility at Cortaillod in canton Neuchâtel by the end…

Swiss Re to buy US operation for SFr3.36 billion

This content was published on Jul 30, 2001 Swiss Re said on Monday it would integrate Lincoln Re, based in Fort Wayne, Indiana, into the Swiss Re North American Life and Health unit, strengthening its position as the leader in the world’s largest life and health reinsurance market. Swiss Re is one of the world’s leading reinsurers with over 70 offices in more…

Kühne & Nagel posts strong first half-year result

This content was published on Jul 30, 2001 A statement from the group’s headquarters at Schindellegi in canton Schwyz said gross profit rose by 10.9 per cent to SFr764.9 million. The result confirmed the group’s leading position in the global forwarding and logistics market, the company said, and emphasized the value of its global network. The International Forwarding business unit once again had…

Swiss maps her way to world orienteering title

This content was published on Jul 29, 2001 König Salmi, who hails from Zurich, defeated Finland’s Johanna Asklof by 5.6 seconds, and Bern’s Simone Luder by seven seconds. Married to a Finnish orienteering champion and now living in Finland, the mother-of-two said she was delighted to finish in first place especially after enduring a slight hiccup at the second control gate. “I didn’t…

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Archive – Banking & Fintech

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Zurich’s US unit confuses Sweden with Switzerland

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Marron steps down from PaineWebber

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Zeppelin postal delivery slowed by wind

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Graubünden draws new business with five-star service

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Victorinox and Swiss Army Brands plan new watch business

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Lower petrol prices put a brake on inflation

More

Silicon Graphics closes plant in Switzerland, 300 lose jobs

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Swiss Re to buy US operation for SFr3.36 billion

More

Kühne & Nagel posts strong first half-year result

More

Swiss maps her way to world orienteering title

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