Archive – Banking & Fintech

Rescue plan presented for AOM and Air Liberté

This content was published on Apr 10, 2001 Union representatives said Rochet, appointed in February to oversee the restructuring of AOM/Air Liberté and sister airline, Air Littoral, proposed cutting the size of the combined group by 25 per cent. Unions said this would involve around 1500 redundancies. They said Rochet wanted his plans to be implemented by November. The two sides reportedly agreed…

Strong sales growth reported for Swisscom’s German subsidiary

This content was published on Apr 10, 2001 Its market share in Germany now stands at 14 per cent. But the company’s operating income fell seven per cent because of heavy investment. Debitel also said on Tuesday that it had reached an agreement with Vodafone to cooperate in offering the next generation of mobile phone services. Swisscom’s subsidiary withdrew from last year’s auction…

Swisscom’s net profit is up but operating income declines

This content was published on Apr 10, 2001 Reporting results on Tuesday, the former state monopoly said net earnings rose by more than 32 per cent to SFr3.2 billion ($1.88 billion) but that operating income was down 26.2 per cent to SFr1.8 billion. The healthy increase in net profit was due to asset sales such as the divestment of its Cablecom division. But…

Chiasso border post to stay open longer to ease Gotthard tailbacks

This content was published on Apr 10, 2001 The decision, announced by a special tansport ministry task force on Monday, will lift the night-time ban on traffic in the area, and will last until the tailbacks have been cleared. The Chiasso border post is expected to stay open from Wednesday to Friday. The measure has been approved in coordination with Italy. Hundreds of…

Swiss Federal Railways stay on track

This content was published on Apr 9, 2001 Figures released on Monday showed that both an increase in the number of passengers and more cargo traffic contributed to growth. The number of passengers rose 3.9 per cent to 286.8 million while goods transported expanded 5.6 per cent to 60.5 million tonnes. Turnover stood at more than SFr6 billion while operating profit reached SFr336.6…

ABB bids for France’s Entrelec

This content was published on Apr 9, 2001 In a statement released on Monday, ABB said the deal offered great potential for both companies. “This acquisition is a very effective strategic fit for both companies and will open significant new growth opportunities,” said ABB president, Jörgen Centermann. Entrelec is a supplier of industrial automation and control products, including electrical connecting devices, time relays,…

Sulzer urges shareholders to reject InCentive bid

This content was published on Apr 9, 2001 Sulzer’s recently appointed chairman, Leonardo Vannotti, told swissinfo that the InCentive bid is “too low and doesn’t correspond to the value of the enterprise”. On Friday, InCentive Capital, which is owned by financier Réné Braginsky, increased its offer for Sulzer’s industrial operations by SFr20 to SFr430 per share. It also sweetened its paper bid by…

Traffic builds up around Gotthard Tunnel

This content was published on Apr 7, 2001 On Friday, a 12-kilometre tailback at the northern entrance to the tunnel led to even longer delays. The traffic flow has improved on the situation one week ago, when more than 850 trucks were blocked on the road heading towards the Chiasso frontier post on the border with Italy. Last week, the Swiss government announced…

Swiss bank tells staff to tighten their belts

This content was published on Apr 7, 2001 Bosses at CSFB were reported to have sent a memo to colleagues saying: “Given current market conditions, try to keep dinners below $10,000, particularly when no travel is involved.” CSFB refused to comment on the report in Britain’s Financial Times newspaper, which says that the bank has also ordered employees to put a stop to…

Swiss NGO guarantees fair deal for carpet makers

This content was published on Apr 6, 2001 Step says there are now 32 companies in Switzerland which adhere to its code of conduct. Their sales account for 25 per cent of the Swiss market, and they sell a total of 90,000 square meters of oriental carpets a year. Step’s efforts to improve the living and working conditions of carpet makers involve random…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Rescue plan presented for AOM and Air Liberté

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Strong sales growth reported for Swisscom’s German subsidiary

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Swisscom’s net profit is up but operating income declines

More

Chiasso border post to stay open longer to ease Gotthard tailbacks

More

Swiss Federal Railways stay on track

More

ABB bids for France’s Entrelec

More

Sulzer urges shareholders to reject InCentive bid

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Traffic builds up around Gotthard Tunnel

More

Swiss bank tells staff to tighten their belts

More

Swiss NGO guarantees fair deal for carpet makers

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