Archive – Banking & Fintech

Credit Suisse sees healthy profit growth

This content was published on Aug 31, 2000 The figures, released on Thursday, come a day after the group announced its acquisition of United States investment bank and financial services provider, Donaldson, Lufkin and Jenrette (DLJ) for SFr19.6 billion. A statement from group headquarters in Zurich said the results were characterised by “strong performance and progress” in all business units. The strongest growth…

Novartis buys herpes drugs

This content was published on Aug 31, 2000 The deal concerns the antiviral products Famvir and Vectavir/Denavir. A Novartis statement on Thursday said SB was selling off the treatments in response to antitrust concerns over its plans to merge with Glaxo Wellcome. Thomas Ebeling, chief executive officer of Novartis Pharma said: “Famvir and Vectavir/Denavir will broaden our portfolio, particularly in the United States…

Brewer slips into the red

This content was published on Aug 31, 2000 A statement on Thursday from company headquarters in Rheinfelden said group results had been saddled with one-off exceptional expenses of some SFr8 million for the introduction of a new computer system and “forward-looking schemes for e-commerce”. There are no comparable figures for the same period last year because the company has changed its financial year…

Credit Suisse takes over US broker

This content was published on Aug 30, 2000 Credit Suisse announced on Wednesday that it would merge DLJ with its investment-banking arm, Credit Suisse First Boston (CFSB). It added that the DLJ board had already approved the offer. Credit Suisse believes the deal is a strategic move to consolidate and cement its position as a major player in investment banking. Credit Suisse spokesman,…

Government steps up battle against illegal working

This content was published on Aug 30, 2000 In a statement on Wednesday, the cabinet said illegal working was unacceptable for industrial, legal and ethical reasons, and needed to be tackled head on. It said the practice threatened pay levels, employee protection schemes and the social welfare state, adding that people who respected the tax and welfare laws should not be made to…

Profits fall at Swiss Post

This content was published on Aug 30, 2000 In a statement, the Post Office described the result as “unsatisfactory”. Turnover, however, rose five per cent to reach SFr2.9 billion. Sales were helped by increased demand for first class post, express mail and payment services. Swiss Post said profits were hit by the employment of 600 extra staff, as well as the modernisation of…

Credit Suisse to buy US investment broker

This content was published on Aug 30, 2000 The bank plans to merge DLJ with its investment-banking arm, Credit Suisse First Boston. Shares in DLJ, which is 70 per cent owned by French insurance giant, Axa, soared on the New York Stock Exchange on Tuesday as rumours of the sale emerged. Shares rose $15 to reach a yearly high of $81. Credit Suisse…

Federal budget set to return to the black

This content was published on Aug 30, 2000 The cabinet agreed next year’s budget at a meeting on Wednesday. It also adopted the financial plan for 2002 to 2004. Presenting the figures at a news conference in Berne, the finance minister, Kaspar Villiger, said the improvement in the federal finances would be brought about partly because of improved economic conditions and partly because…

Swiss underwear maker, Triumph, accused of dirty tactics

This content was published on Aug 29, 2000 According to the Clean Clothes Campaign, which fights for fairer working conditions around the world, the unionised workers lost their jobs following a strike in February. It says the workers walked out after the management turned down their demand for a daily wage of SFr20 ($12). When Triumph said it was prepared to pay SFr14…

Tourism industry sets out to sell Autumn in Switzerland

This content was published on Aug 29, 2000 Overnight stays are up more than six per cent since the beginning of the year and Switzerland Tourism hopes to keep up the momentum through the traditionally slow months of September and October. On Tuesday at Zurich’s main station, the director of Switzerland Tourism, Jürg Schmid, symbolically launched the campaign by unveiling a train engine…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Credit Suisse sees healthy profit growth

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Novartis buys herpes drugs

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Brewer slips into the red

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Credit Suisse takes over US broker

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Government steps up battle against illegal working

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Profits fall at Swiss Post

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Credit Suisse to buy US investment broker

More

Federal budget set to return to the black

More

Swiss underwear maker, Triumph, accused of dirty tactics

More

Tourism industry sets out to sell Autumn in Switzerland

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