Archive – Banking & Fintech

Concerns over global economy to top Davos agenda

This content was published on Jan 19, 2001 This year’s summit will concentrate on how to maintain global economic growth and how to alleviate inequalities between rich and poor. With the title “Sustaining Growth and Bridging the Divides”, the Forum will try to answer critics who dismiss it as little more than a rich men’s club. The summit will discuss the recent economic…

Swisscom ups stake in Germany’s debitel

This content was published on Jan 19, 2001 The shares, owned by DaimlerChrysler Services, will increase Swisscom’s stake in debitel, Europe’s largest network-independent service provider, to 84 per cent. In a statement on Friday, Swisscom, it was exercising an option agreed in 1999, when it bought 74 per cent of debitel’s shares. Swisscom views debitel as a strategically important growth engine. With a…

Insider traders profited from Nestlé pet food deal

This content was published on Jan 19, 2001 The Securities and Exchange Commission (SEC) in Washington said it believed traders had profited by using advance knowledge of Nestlé’s plans to purchase Ralston Purina for $10.3 billion (SFr16.89 billion). Nestlé confirmed the deal on Wednesday. The SEC added that it does not yet know who is involved because insider trading was carried out anonymously…

New system to help ski resorts face uncertain future

This content was published on Jan 19, 2001 Many alpine areas depend on winter tourism for their survival. There are more than 40,000 groomed ski slopes in the Alps, covering about 1,000 square kilometres. They attract millions of skiers every year and more than 10,000 ski lifts and mountain railways have been built to accommodate them. But increasingly global warming is threatening the…

Wavre begins home stretch

This content was published on Jan 18, 2001 “I can’t say for sure, but I hope this will be my only Vendee Globe race,” he told swissinfo from the cabin of his boat. “You have to be a little bit crazy to compete in this race, and I’m hoping to be a little bit less crazy when I finish.” Wavre still has some…

Swiss bankers speak out against concessions to EU

This content was published on Jan 18, 2001 At a news conference in Bern, the Swiss Private Bankers Association warned that it would be a “catastrophe”, if any hasty concessions were made to the European Union in its fight against tax evasion. Tax evasion is not a crime in Switzerland, as it is in many other countries. Jacques Rossier from the bankers Darier…

Swiss economy to remain buoyant

This content was published on Jan 18, 2001 The survey of around 3,600 companies shows that most expect the healthy economic environment to continue in 2001 though growth is not expected to remain at the exceptional rate seen last year. The most optimistic sectors are information technology and telecommunications, electronics and the food industry. The financial sector also expects a good year. The…

Sulzer orders head up

This content was published on Jan 18, 2001 The separately listed Sulzer Medica unit saw its orders rise 14 per cent to SFr1.35 billion. Sulzer said it expected operating income to rise significantly in the year 2000 but added that it would incur substantial restructuring costs. Sulzer announced a major reorganisation last year that involved the sales of five technical divisions which account…

Defence ministry orders plutonium tests for NATO ammunition

This content was published on Jan 18, 2001 Samuel Schmid, the defence minister, ordered the government’s weapons laboratory in the town of Spiez to conduct the tests following a report from Zurich’s Federal Institute of Technology, which suggested that plutonium might be present in DU weapons. NATO used the ammunition in the Balkans to destroy Serb tanks. Earlier this month, its use became…

Richemont sales growth slows

This content was published on Jan 18, 2001 The fiscal third-quarter includes the key Christmas season for Richemont, which owns prestigious brands such as Cartier, Montblanc and Alfred Dunhill. The company said 1999’s third quarter sales had been particularly strong because of the run-up to the millennium celebrations. “The growth of 21 per cent was very much in line with our expectations and…

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Archive – Banking & Fintech

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Concerns over global economy to top Davos agenda

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Swisscom ups stake in Germany’s debitel

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Insider traders profited from Nestlé pet food deal

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New system to help ski resorts face uncertain future

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Wavre begins home stretch

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Swiss bankers speak out against concessions to EU

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Swiss economy to remain buoyant

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Sulzer orders head up

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Defence ministry orders plutonium tests for NATO ammunition

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Richemont sales growth slows

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