Archive – Banking & Fintech

Airline blacklist splits opinion

This content was published on Aug 26, 2005 Consumer groups have welcomed the move, but a leading aviation expert has warned that it will not contribute to safety – rather the opposite. The Federal Civil Aviation Office said on Thursday that it would publish the list on the internet on September 1. “The publication of companies with systematic deficits is in the interests…

White knight rides to rescue of Saia-Burgess

This content was published on Aug 26, 2005 Saia-Burgess, which is fending off a rival SFr583 million bid from Japan’s Sumida Corporation, has advised shareholders to accept the Johnson Electric offer. “The strategic, industrial logic and culture alignment between Johnson Electric and our company is a compelling combination that will accelerate growth and assist in executing the Saia-Burgess strategic plan,” commented Saia’s chief…

Relief for flooded areas as rains ease

This content was published on Aug 26, 2005 However, the authorities still faced an immense task on Friday to clear driftwood blocking the flow of rivers, while many people were still not able to return their homes. A cold weather front that crossed Switzerland on Thursday brought further rain to many parts of the country. Between 3.0 and 7.5 litres per square metre…

Airline chief upbeat despite losses

This content was published on Aug 25, 2005 Swiss reported a net loss of SFr89 million ($70.6 million) in the first six months of 2005, comparing unfavourably with a SFr33 million ($26 million) deficit in the same period last year. But Franz pronounced that he was not “too dissatisfied” with the way things were going with Swiss in the process of being taken…

Swiss assess damage after devastating floods

This content was published on Aug 25, 2005 As the situation eased, the deathtoll rose to five and insurers estimated the economic cost of the natural disaster at more than SFr1 billion ($0.8 billion). The army and civilian workers continued clearing fallen wood from rivers and lakes while buildings were inspected for damage and vital repairs were carried out. While many broken transport…

Farmers would welcome more migrant workers

This content was published on Aug 25, 2005 Only a few dissidents affiliated to the rightwing People’s Party have called for a “no” vote on September 25, brandishing fears of a foreign “invasion”. Members of the Swiss Farmers’ Union came showed overwhelming support in favour of the free movement of people accord. Farm owners have always needed cheap and flexible labour, and migrant…

Profit falls and CEO to leave at Swiss Re

This content was published on Aug 25, 2005 The world’s second-largest reinsurer, based in Zurich, said net profit fell to SFr1.353 billion ($1.07 billion) from SFr1.441 billion a year ago. Profit missed the SFr1.43 billion average of ten analysts surveyed by Bloomberg. In a statement Swiss Re said that chief executive John Coomber would retire at the end of the year and make…

Swiss cuts fleet as net loss widens

This content was published on Aug 25, 2005 Swiss also announced that it would reduce its short-haul fleet from 35 to 24 aircraft and that chairman Pieter Bouw would step down in September. The net loss compares with a loss of SFr33 million for the first half last year, with the company blaming currency fluctuations in particular for the deterioration of its financial…

Engineering industries report sluggish progress

This content was published on Aug 24, 2005 But sales were up by 3.3 per cent as a result of a rise in new orders in previous quarters and the industry – Switzerland’s largest exporter – is “cautiously optimistic” for the coming months. The industries’ umbrella organisation, Swissmem, reported that exports reached SFr29.8 billion ($23.38 billion) or 2.8 per cent higher than for…

Floods and landslides cut off alpine villages

This content was published on Aug 23, 2005 Emergency services fought to stop the flood waters from swamping the Interlaken West railway station, the resort’s last public transport link to the rest of the country. On Tuesday, the resort of Interlaken – a starting point for mountain and lake excursions – became the region’s base for emergency operations. “The road to Grindelwald has…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Airline blacklist splits opinion

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White knight rides to rescue of Saia-Burgess

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Relief for flooded areas as rains ease

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Airline chief upbeat despite losses

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Swiss assess damage after devastating floods

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Farmers would welcome more migrant workers

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Profit falls and CEO to leave at Swiss Re

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Swiss cuts fleet as net loss widens

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Engineering industries report sluggish progress

More

Floods and landslides cut off alpine villages

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