Archive – Banking & Fintech

Delco Remy and Hitachi unite to produce automotive parts in Switzerland

This content was published on Jul 26, 2001 The venture, called Hitachi Remy Automotive, will be based in the Swiss town of Zug, and will serve the European and North American markets. The companies said they would share their starter/alternator technologies and jointly introduce products to the global market through their existing worldwide manufacturing operations and sales organizations. Yoshiaki Honda, of Hitachi, has…

Swiss railway ambitions in Britain hit by new licensing changes

This content was published on Jul 25, 2001 The Swiss Federal Railways declared last September that it wanted to operate concessions – together with two British partners – on three separate rail lines for a maximum of 20 years, starting as early as 2003. However Stephen Byers, the British transport minister, has proposed that the Strategic Railway Authority (SRA) should no longer grant…

Bankruptcy triggers job losses in Basel

This content was published on Jul 25, 2001 The bankruptcy was confirmed by Basel’s insolvency office on Wednesday. The company, founded in 1982, has accumulated debts of SFr57 million ($33.7 million). Some 110 workers in Basel will lose their jobs, along with 40 others at a Zurich subsidiary. Dettwiler’s main creditors include Switzerland’s Credit Suisse bank and Germany’s Hypovereinsbank. They hold a SFr32…

Lonza bucks the trend

This content was published on Jul 25, 2001 The group’s earnings rose to SFr153 million ($88.44 million) on the back of stronger sales, which increased by 15 per cent to SFr912 million. “Despite the continued weakening of the world economy and under the provision that no new negative factors influence the business, the group is convinced it will surpass the results of 2000,”…

Micronas results add to gloom

This content was published on Jul 25, 2001 The company said on Wednesday that first-half net profit fell to SFr24.5 million ($14.16 million) compared with SFr32.6 million for the same period last year. The decline came despite a rise in first-half sales to SFr283.7 million from SFr216.8 million. It said that for the year as a whole it expected a modest profit and…

Centerman under fire as ABB slashes 12,000 jobs

This content was published on Jul 25, 2001 Wednesday’s newspapers won’t have made easy reading for the head of Europe’s biggest engineering concern. Centerman, in charge of ABB since the beginning of the year, said his decision to axe 12,000 jobs was in response to a harsh global economic climate, which has seen a swathe of companies cut earnings forecasts and slash jobs.…

Women wise up to the web

This content was published on Jul 25, 2001 The two-week pilot summer camp is the first of its kind in Switzerland; both teachers and students are female. The students, who work in higher education as teachers or administrators, are giving up 14 days of their summer vacation to learn skills which will help them in their professional and private lives. Trawling for news…

Swissair makes safety improvements three years after fatal crash

This content was published on Jul 24, 2001 The alterations are expected to cost the cash-strapped airline around SFr20 million ($12 million). The programme to rebuild the cockpits of the 19 MD-11s began on July 1 and will run until February 2002. As part of the safety improvements, the cockpit and first class sections are being fitted with smoke detectors, fire extinguishers and…

Stock exchange new market has little to celebrate

This content was published on Jul 24, 2001 The only consolation for the head of the market, Robert Wyss, is that markets with technology stocks have suffered the same fate all over the world. “We have seen that the markets have dropped significantly since March last year, so Switzerland is not a unique case,” Wyss told swissinfo. “We have seen it all over…

Chemicals industry fuels growth in exports

This content was published on Jul 24, 2001 The positive figures follow a deficit of SFr929 last year. A statement from the finance ministry attributed the improvement to increased exports to developing countries, eastern Europe, Russia and China. Exports grew by 5.4 per cent in real terms, compared with the same period last year, to reach SFr67.6 billion. Imports, on the other hand,…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Delco Remy and Hitachi unite to produce automotive parts in Switzerland

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Swiss railway ambitions in Britain hit by new licensing changes

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Bankruptcy triggers job losses in Basel

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Lonza bucks the trend

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Micronas results add to gloom

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Centerman under fire as ABB slashes 12,000 jobs

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Women wise up to the web

More

Swissair makes safety improvements three years after fatal crash

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Stock exchange new market has little to celebrate

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Chemicals industry fuels growth in exports

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