Archive – Banking & Fintech

Swiss high-tech firm, Miracle, folds

This content was published on Oct 26, 2000 Miracle’s board of directors said that without the money from Credit Suisse, they had no other way of propping up the cash-strapped firm. CSFB announced that it would not grant another SFr8 million ($4.4 million) out of a total loan of SFr23 million to the high-tech start-up. Miracle let it be known last week that…

Dollar reaches 14-year high against franc

This content was published on Oct 25, 2000 The dollar’s rise came as traders overcame their fears that central banks may once again intervene to bolster the single European currency. The dollar is trading at almost SFr1.81, its highest level since June 1986. The US currency also reached another record high against the euro, which fell below 83 cents on Wednesday. The Swiss…

Government cancels auction for GSM licences

This content was published on Oct 25, 2000 The auction was to take place two weeks ago but was postponed after One.Tel Global Wireless Holdings and Telenor Mobile Communications dropped out of the bidding. Their exit left only Swisscom, Orange and diAX in the running for the three licences. They will now be awarded the frequencies. The GSM sale is separate from the…

ABB boss bows out in favour of “younger leader”

This content was published on Oct 25, 2000 The current CEO, Goran Lindahl, is to step down at the end of the year. He will be replaced by the head of the automation division, Jörgen Centerman. Lindahl, who has been CEO for the past four years, said in a statement that he felt it was time to hand over “to a younger leader…

Best ever results for Logitech in second quarter

This content was published on Oct 25, 2000 The net income was $9.4 million (SFr16.8 million). Last year, net income was only $5.2 million for the period ending September 1999. Consolidated sales increased 43 per cent, exceeding $190 million ($133 million in 1999). The gross margin was 33.7 per cent, while the gross profit was 48 per cent. The operating income of $12…

Swiss pumpkin farmers plough through the competition

This content was published on Oct 25, 2000 Martin and Beat Jucker have built their careers around the humble pumpkin, and on Saturday expect to attract 15,000 people to “European Halloween Festival 2000” – an all-night party to celebrate both the occasion and the vegetable. The six dance floors at the festival will be strewn with thousands of pumpkins of all shapes and…

UBS warns against tying Swiss franc to weak euro

This content was published on Oct 24, 2000 The warning is based on a study, released on Tuesday, by the UBS group economic research department in Zurich. The study says that pegging the Swiss franc to the euro would largely deprive the Swiss National Bank of its ability to keep interest rates low, and jeopardise the franc’s standing among international investors. The study…

Crossair threatens job cuts in continuing battle with pilots

This content was published on Oct 24, 2000 The carrier, part of the SAirGroup, said it was considering the move because of the airline’s continuing financial problems, and the refusal of most of its pilots to accept a new collective working agreement. The deal, agreed after long and often acrimonious negotiations with the pilots’ union, was turned down last week by the pilots…

Swiss exports reach three-year high

This content was published on Oct 24, 2000 Domestic demand has stimulated imports, while exports have shown their best performance for three years. The Finance Ministry on Tuesday released figures showing that nominal imports rose by 13.2 per cent (real 6.9 per cent) during the nine months to SFr93.93 billion ($52.18 billion). Exports increased by 12.4 per cent (real 8.4 per cent) to…

Clariant hails good result as sign of better things to come

This content was published on Oct 24, 2000 Clariant, based at Muttenz near Basel, said in a statement that it expected to maintain business momentum despite the usual slowdown at the end of the year. The company attributed the positive figures to better product innovation and the greater focus on marketing and services. It added that results would be lifted by the improved…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Swiss high-tech firm, Miracle, folds

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Dollar reaches 14-year high against franc

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Government cancels auction for GSM licences

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ABB boss bows out in favour of “younger leader”

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Best ever results for Logitech in second quarter

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Swiss pumpkin farmers plough through the competition

More

UBS warns against tying Swiss franc to weak euro

More

Crossair threatens job cuts in continuing battle with pilots

More

Swiss exports reach three-year high

More

Clariant hails good result as sign of better things to come

Popular Stories

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