Archive – Banking & Fintech

Bankruptcies fall again

This content was published on Mar 14, 2001 Bankruptcies were down 12.9 per cent in January and February compared to the same period last year. The decline was more marked among private companies (18.8 per cent) than individuals (7.8 per cent). The latest figures released on Wednesday by the Creditreform organisation of St Gallen, which defends the interests of creditors, also showed the…

More good news for Credit Suisse

This content was published on Mar 14, 2001 The news comes a day after the Credit Suisse Group revealed net profit growth of 11 per cent last year to SFr5.8 billion ($3.52 billion), surpassing market expectations. Bank Leu’s net profit last year rose 33 per cent to SFr179 million. The bank said its assets under management at the end of the year totalled…

Martin Dalsass: the cook as artist and altruist

This content was published on Mar 14, 2001 Dalsass, 44, is a native of Bolzano but has lived in Switzerland for 25 years – the past 15 in Ticino. During that time, he has transformed the Santabbondio restaurant at Lugano-Sorengo into a culinary mecca. “I became a cook quite by chance. After finishing my compulsory schooling, I was supposed to learn the trade…

Strong growth gives Credit Suisse stock market boost

This content was published on Mar 13, 2001 The 11 per cent increase in net profits was helped by a surprisingly strong fourth quarter that led to annual double-digit growth for all the group’s business units. Operating profit for the year was up 35 per cent to SFr7.2 billion, with assets under management growing by 19.3 per cent to SFr1,417 billion. The company…

Mövenpick passed over as partner for SAirGroup’s hotel chain

This content was published on Mar 13, 2001 In an interview with swissinfo on Tuesday, Schöpfer said the troubled airline conglomerate had not even invited Mövenpick to put forward a tender. “Unfortunately we have not been invited to the tender process,” explained Schöpfer. “Obviously you must ask the board of directors of Swissôtel why a Swiss company that is financially strong and a…

Givaudan scents growth markets in developing world

This content was published on Mar 13, 2001 Sales increased by six per cent over 1999 to SFr2.4 billion. The company said in a statement on Tuesday that the gross profit margin rose by 0.3 per cent to 48 per cent, mainly due to further efficiency improvements. The board of directors is proposing a dividend of SFr6.5 per share to the annual shareholders’…

Schindler profits jump by 26 per cent

This content was published on Mar 13, 2001 Schindler, which based near Lucerne and is the world’s second-largest supplier of lifts and escalators, said operating revenue rose by 11 per cent to SFr8.5 billion. A statement said consolidated operating profit increased to SFr422 million (compared to SFr382 in 1999) but that the improvement of 10 per cent was “less than expected”. The company…

More turbulence for SAirGroup as shares plummet

This content was published on Mar 12, 2001 The share price went into a tailspin with rumours mounting that the company’s financial position is even worse than expected. Monday’s closing price of SFr174 per share was the lowest in five years. SAirGroup expressed concern at the market reaction, but said that it was understandable given recent media reaction to the problems within the…

Reality of malnutrition brought home to Swiss children

This content was published on Mar 12, 2001 “This is a public we’ve never focused on before,” says exhibition organiser Nadia Isler of Médecins Sans Frontières (MSF). “Even though they’re young, they’re not too young to start thinking about the problem and how we can avoid it.” She says the MSF chose malnutrition as a theme because of its pervasiveness in parts of…

Economic investment cooling down

This content was published on Mar 12, 2001 The latest survey of Swiss business released on Monday shows that the percentage difference in those expecting investment and those forecasting contraction came out at 21.1 points for 2001. The figure for 2000 was 35.7 points. The service sector such as finance, IT and telecoms expect their levels of investment to decline due mainly to…

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