Archive – Banking & Fintech

Adtranz falls into Canadian hands

This content was published on Aug 4, 2000 Adtranz, which is owned by DaimlerChrysler, last year announced it was closing two plants in Switzerland, with the loss of 710 jobs. The deal was announced on Friday by DaimlerChrysler, and has still to be approved by the competition authorities. DaimlerChrysler boss, Jurgen Schrempp, said the sell-off would enable the company to focus on automobile…

Swiss banks to give final go-ahead to Holocaust settlement

This content was published on Aug 4, 2000 Their approval clears the final hurdle on the Swiss side to the settlement and paves the way for distribution of money to tens of thousands of elderly Holocaust survivors and their heirs, although payments are still not expected before the end of the year. The United States District Court Judge, Edward Korman, who approved the…

SWX turnover up by 4.5 per cent

This content was published on Aug 4, 2000 In a communiqué, SWX said that trading in shares and funds accounted for the lion’s share of the total, with a volume of SFr85.4 billion, 4.5 per cent more than in June. However, turnover in bonds went down by almost 4.5 per cent to just over SFr12 billion. Trading in derivatives rose by 27.2 per…

Swiss nuclear plant probes leaky British fuel elements

This content was published on Aug 4, 2000 Beznau, which is about 30 years old, is one of five Swiss nuclear power plants and is run alongside Beznau II by the Swiss utility, NOK. NOK said on Thursday it had launched an investigation, which could take six months to a year to establish whether the producer, British Nuclear Fuels (BNFL), or the workers…

Internet provider questioned about data leak

This content was published on Aug 3, 2000 Guntern also wants Sunrise to outline what measures it plans to take to prevent such a leak happening again. However, the data protection ombudsman said he did not plan to open an inquiry into a possible breach of data protection laws. Sunrise was alerted about the leak on Tuesday by the weekly newspaper “Weltwoche”. In…

Italian authorities fine insurance companies

This content was published on Aug 3, 2000 The three – Winterthur, Zurich and Helvetia Patria – are among 38 companies which are facing fines of SFr559 million by the Italian competition regulators. The three are going to appeal against the fines. Winterthur has been fined SFr33 million and is not making any comment about the case until the appeal is heard. Helvetia…

Inflation rises to a four-year high

This content was published on Aug 3, 2000 The federal statistics office in Neuchatel reported that the annual inflation figure a year ago was only 0.7 per cent. It added that the consumer price index, calculated according to a new system since May, rose by 0.2 per cent in July compared to the previous month to reach 100.6 (May 2000 = 100). The…

Geberit sees income treble

This content was published on Aug 3, 2000 A communiqué said the company increased sales by 6.7 per cent in the first half to reach SFr647.4 million, with operating profit increasing by 16.4 per cent to SFr117.3 million. It added that profit had tripled in the absence of non-recurring financing costs incurred during the same period last year. Geberit said the board of…

Inflation driven higher by rising fuel and accommodation costs

This content was published on Aug 3, 2000 The Federal Statistics Office in Neuchâtel reported that the annual inflation figure a year ago was only 0.7 per cent. It added that the consumer price index, calculated according to a new system since May, rose by 0.2 per cent in July compared to the previous month to reach 100.6 (May 2000 = 100). The…

UBS plans share increase to fund US acquisition

This content was published on Aug 3, 2000 A UBS communiqué said an extraordinary general meeting would be held on September 7, when shareholders would be requested to approve the creation of 38 million new UBS shares in the form of authorised capital and 17 million in the form of conditional capital. The board of directors will propose that UBS shareholders be paid…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Adtranz falls into Canadian hands

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Swiss banks to give final go-ahead to Holocaust settlement

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SWX turnover up by 4.5 per cent

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Swiss nuclear plant probes leaky British fuel elements

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Internet provider questioned about data leak

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Italian authorities fine insurance companies

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Inflation rises to a four-year high

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Geberit sees income treble

More

Inflation driven higher by rising fuel and accommodation costs

More

UBS plans share increase to fund US acquisition

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