Archive – Banking & Fintech

Swiss banks hold SFr3.72 trillion in assets

This content was published on Jun 6, 2001 The annual survey of 375 banks, released on Wednesday, includes all assets held in customer securities portfolios at both Swiss banks and Swiss affiliates of foreign banks. Not included are assets that Swiss banks manage for customers outside Switzerland. The SNB said that a total of SFr2.056 trillion was attributable to foreign account holders (up…

UBS expanding in Europe

This content was published on Jun 6, 2001 The move follows a decision to set up UBS (France), the Swiss group’s private bank in Paris, in June 1999. The French operation now employs 110 staff. As a next step UBS (France) has opened a branch in Lyon, which now employs eight people. “There are also plans to open offices in Bordeaux, Marseilles, Lille,…

New scandal deals another blow to CSFB

This content was published on Jun 6, 2001 The New Zealand Stock Exchange (NZSE) ruled that CSFB had bought shares in the New Zealand winemaker, Montana, on behalf of the Australian brewer, Lion Nathan, in a period when the brewing group was not allowed to increase its stake. CFSB, the investment banking arm of Credit Suisse, had argued that the trades were agreed…

Profits likely to rise at Conzzeta

This content was published on Jun 6, 2001 The mechanical engineering and consumer goods group said on Wednesday it boosted sales in the first four months by 17.5 per cent to SFr326.6 million ($185 million) and operating profit by 27.3 per cent to SFr25.2 million. Net profit edged up to SFr18.7 milllion from SFr17.7 million from the same period a year ago. This…

Government goes on offensive against smoking

This content was published on Jun 5, 2001 Announcing the five-year prevention programme, the director of the Federal Health Office, Thomas Zeltner, said Switzerland had lagged behind its European neighbours in promoting anti-smoking policies. Zeltner said Switzerland has the third highest number of smokers per capita in Europe after Hungary and Greece, with two million smokers in a population of less than eight…

Switzerland steps closer to freer trade with Mexico

This content was published on Jun 5, 2001 The new bilateral agreement, drawn-up within the framework of the European Free Trade Association, or EFTA, will ensure that Switzerland gets more access to Mexican markets, matching the current levels enjoyed by the United States and the European Union. Mexico is Switzerland’s fourth most important trade partner in the Americas, with current exports worth SFr1…

Swiss logistics group sells out to Thiel

This content was published on Jun 5, 2001 Thiel’s purchase of SES – active in health, pharmaceuticals, e-commerce and healthcare logistics – and some of its subsidiaries comes soon after its takeover of German groups, KVB and SKS, from Heidelberger Zement earlier this year. No price tag was put on this latest deal but sources close to the company say that Thiel could…

Swiss Post buys TNT’s international operation

This content was published on Jun 5, 2001 TNT gave no sale price for the deal, but said the unit had annual revenues of around €11 million (SFr16.7 million). The EU competition authorities said on March 14 that the unit must be sold off as a condition of approving Delta, TNT’s cross border business mail joint venture with Britain’s Cosignia and Singapore Post.…

Swissair warns of job cuts ahead

This content was published on Jun 5, 2001 The airline group said cost cutting measures to produce such savings would inevitably lead to staff reductions, but gave no indications of how many. “Our group continues to operate in a difficult business environment, and we need to take swift and efficient action to return it to sound business health,” chairman and chief executive, Mario…

Beer drinking makes inroads in French-speaking Switzerland

This content was published on Jun 5, 2001 The “Fête de la Bière”, held in the port of Ouchy, attracted several thousand beer lovers, who had the chance to sample scores of prize-winning beers. Pride of place this year went to two of the best independent breweries in French-speaking Switzerland, the Lausanne-based Boxer brewery and the Brasserie des Franches-Montagnes (BFM), which is located…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Swiss banks hold SFr3.72 trillion in assets

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UBS expanding in Europe

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New scandal deals another blow to CSFB

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Profits likely to rise at Conzzeta

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Government goes on offensive against smoking

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Switzerland steps closer to freer trade with Mexico

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Swiss logistics group sells out to Thiel

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Swiss Post buys TNT’s international operation

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Swissair warns of job cuts ahead

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Beer drinking makes inroads in French-speaking Switzerland

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