Archive – Banking & Fintech

UBS to complete merger next week

This content was published on Oct 27, 2000 PaineWebber shareholders now have until 5 o’clock New York time on Wednesday next week to decide whether they want to swap their stock for cash or shares in UBS. PaineWebber shareholders approved the merger earlier this week. However, it’s still subject to the approval of the regulatory authorities. swissinfo with agencies

Epic journey ends for Swiss-based adventurer

This content was published on Oct 27, 2000 Horn’s achievement will ensure him a place in the record books as the first person to circumnavigate the globe, along the equator, without using any means of motorised transport. During the course of his journey – which he called “Latitude Zero” – Horn crossed three oceans: the Atlantic, Pacific, and Indian in a trimaran. He…

Credit Suisse teams up with Microsoft

This content was published on Oct 26, 2000 Credit Suisse said in a statement on Thursday that its online investment service would be part of MSN’s new MoneyCentral personal finance channel, which is to be launched in the next few weeks in Britain, France and Germany. From 2001, the service will be extended to MSN portals in Switzerland, Spain and Italy. The statement…

Swiss franc falls to 14-year low against the dollar

This content was published on Oct 26, 2000 The American currency is gaining strength against the franc. Since last Friday, the dollar has risen from 1.78 to 1.82. In July, the Swiss franc was trading at 1.67 against the green back. But on Thursday, the dollar’s strength set a new 14-year record of 1.8274, with mild fluctuations. Shadowing the Swiss franc’s fall against…

Adecco says results confirm wisdom of global strategy

This content was published on Oct 26, 2000 Adecco, based at Chéserex in canton Vaud, said on Thursday that turnover was SFr19.4 billion ($10.6 million), a 46 per cent increase over the corresponding period last year. In a statement, Adecco said operating income grew strongly from SFr603 million in 1999 to SFr900 million this year, an increase of 49 per cent. Income before…

Transport group shopping for partners after good profits

This content was published on Oct 26, 2000 The financial forecast was made in a statement on Thursday, which gave details of the company’s performance for the first nine months of the year. Net profit rose 23.7 per cent over the comparable period last year to SFr86.6 million, with all regions and business units contributing to the result. The group said it was…

Strong exports keep watchmakers hard at work

This content was published on Oct 26, 2000 The Federation of the Swiss Watch Industry in Biel said in a statement on Thursday that its confidence came after 14 months of continued industry growth. Exports of watches and movements totalled SFr906.7 million in September, a rise of 11.1 per cent over the previous month. The Federation said exports between July and September totalled…

Big budget surplus expected this year

This content was published on Oct 26, 2000 The ministry attributed the turnaround to unexpectedly fast economic growth of about three per cent this year, which led to higher tax income and faster debt repayments in the first three quarters. It also said tight budgetary discipline had been maintained, so that expenditure was slightly lower than forecast. The ministry added that it expected…

Unaxis takes INFICON to market

This content was published on Oct 26, 2000 Unaxis, formerly Oerlikon-Bührle, said it planned to float 1,421,000 shares, which would reduce its stake to some 25 per cent of INFICON, including a capital increase. After the exercise of the over-allotment option (greenshoe), Unaxis would hold 13.8 per cent of INFICON shares. The company said the float was part of its strategy to focus…

UBS boasts soaring profits ahead of PaineWebber takeover

This content was published on Oct 26, 2000 During the first nine months of the year, UBS recorded a net profit of SFr6.498 billion, which is 39 per cent more than achieved in the whole of last year. In a statement on Thursday, the bank said that development of assets under management was “encouraging” with improved net new money flows across all business…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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UBS to complete merger next week

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Epic journey ends for Swiss-based adventurer

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Credit Suisse teams up with Microsoft

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Swiss franc falls to 14-year low against the dollar

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Adecco says results confirm wisdom of global strategy

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Transport group shopping for partners after good profits

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Strong exports keep watchmakers hard at work

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Big budget surplus expected this year

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Unaxis takes INFICON to market

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UBS boasts soaring profits ahead of PaineWebber takeover

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