Archive – Banking & Fintech

Profits down at Zurich cantonal bank

This content was published on Jul 27, 2001 In a statement, the bank said that it expected a lower profit for the year as a whole compared with last year. It said that in “difficult market conditions”, profit for the first six months fell by 16.2 per cent to SFr338.3 million ($197.26 million). “At this half-year stage, we do not expect to reach…

Stock Exchange pleased with virt-x launch

This content was published on Jul 27, 2001 At the annual news conference of the exchange in Zurich, management said that it was pleased with the launch in June of virt-x, the first ever pan-European blue chip exchange. Virt-x has come under attack from analysts who have argued that the volume of shares traded has been disappointing. Antoinette Hunziker-Ebneter, head of the SWX…

Economic growth expected to slow

This content was published on Jul 27, 2001 The Business Cycle Research Institute of the Federal Institute of Technology in Zurich said its indicator for June fell to 0.01 points from a revised 0.13 in May. A statement from the Institute on Friday said that the lower reading for the indicator reflected a slight reduction in new orders for the first time in…

Dragons return to Lake Thun

This content was published on Jul 27, 2001 All over the region, shops, museums and transport companies have been gripped by dragon fever. It was the local tourist office that decided to turn the area into a living legend by launching the dragon concept. There are 40 different dragon attractions including a giant dragon boat ferrying passengers across Lake Thun and an unpredictable…

Cisalpino keeps finances on track

This content was published on Jul 27, 2001 The company said in a statement that turnover last year had increased slightly to SFr58.82 million, despite bad weather in January and October which are normally popular travel months. The company runs intercity tilting trains to destinations in Switzerland, Italy and Germany. Cisalpino trains serve Stuttgart-Zurich-Milan, Zurich-Milan-Florence, Geneva-Milan-Venice and Basel-Bern-Milan. Cisalpino, which has its headquarters…

Sulzer sells textile division to Italian group

This content was published on Jul 27, 2001 Under the terms of the contract, all Sulzer Textil business will be transferred to Promatech, which will keep the 1,850 Sulzer Textil staff under their current employment contracts. No financial details of the transaction have been released. The move, subject to approval by the regulatory authorities, will make Promatech and Sulzer Textil the market leader…

Blast brings back memories of Schweizerhalle disaster

This content was published on Jul 26, 2001 The explosion took place in the early hours of Thursday morning. No one was injured, although 21 firefighters suffered from the effects of inhaling poisonous chemicals and acid burns. The company said the blast had released some chemicals but that they were not acutely toxic, and posed no danger. Nevertheless, residents were told to keep…

Serbian kids let off steam in Grindelwald

This content was published on Jul 26, 2001 Their two-week stay is being funded by a Swiss foundation, Swiss Cor, which receives donations from Swiss businesses. The young people will take part in excursions, sports and outdoor games, all part of a hectic two-week schedule designed to take their minds off the traumas in their native country. The activities include trips to the…

Adecco figures please the markets

This content was published on Jul 26, 2001 The Lausanne-based company said its operating income for the first six months of the year increased 21 per cent to SFr617 million ($358 million). Sales were up 15 per cent to SFr13.8 billion compared with an increase of 37 per cent in the first quarter. Although revenue growth slowed, the figures were better than the…

UBS warns of big losses on private equity

This content was published on Jul 26, 2001 The bank said the decline in share values and the thin market in initial public offerings would weigh on earnings. For the second, third and fourth quarters of the current year, the bank said pre-tax losses would total SFr350 million to SFr400 ($204 million to $233 million). It added that most of the losses would…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Profits down at Zurich cantonal bank

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Stock Exchange pleased with virt-x launch

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Economic growth expected to slow

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Dragons return to Lake Thun

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Cisalpino keeps finances on track

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Sulzer sells textile division to Italian group

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Blast brings back memories of Schweizerhalle disaster

More

Serbian kids let off steam in Grindelwald

More

Adecco figures please the markets

More

UBS warns of big losses on private equity

Popular Stories

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