Banking & Fintech

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…

Novartis bans GMOs in own food, but seed production continues

This content was published on Aug 3, 2000 A Novartis spokesman said that since the end of June, all of its food brands sold in Europe’s Benelux region had been certified GMO free. In September last year the company’s babyfood brand, Gerber, also stopped using GMOs. The international environmental pressure group, Greenpeace, welcomed Novartis’ decision to end the use of GMOs. A spokesman…

Tobacco companies reject WHO accusations

This content was published on Aug 2, 2000 The vice-president of Philip Morris’s European Union operations, David Davies, told swissinfo that the WHO’s accusations did not stand up to scrutiny. “We do not believe that any of the documents included in the report substantiate a conclusion that we obstructed the WHO’s health message about tobacco or its tobacco control initiatives.” Davies admitted that…

Ciba enters Wall Street

This content was published on Aug 2, 2000 The company says the move is intended to facilitate access to the United States capital market and to expand the shareholder base. It denies the listing is a precursor to major acquisitions in the US, saying its focus will remain on internal growth. Analysts expect the company’s profit to grow to SFr392.5 million ($230 million)…

Nestlé buys in South Africa, sells in the US

This content was published on Aug 2, 2000 The Vevey-based company has bought two mineral water companies in South Africa, and sold off three factories in the United States making frozen potato products. The buyer of the three US plants, which have an annual turnover of $300 million, is JR Simplot Company. Nestlé declined to give details of the sale, which is subject…

Hopes dashed for massive mobile phone windfall

This content was published on Aug 2, 2000 At a news conference in Zurich, the Federal Office for Communication said it now believes the auction of the third generation UMTS licences will net between SFr3 billion ($1.78 billion) and SFr6 billion. Although still a significant sum, the figure is much lower than earlier estimates that the sale could bring in up to SFr10…

UBS and Newsweek apologise for insensitive advertisement

This content was published on Aug 2, 2000 Newsweek said the decision to print the advertisement in the middle of a special report about the crash was entirely its own mistake. A spokesman said the magazine had checked for airline advertisements, but had not thought of screening banking advertisements. The double-page advertisement for UBS shows a technician checking the tyres on an aircraft,…

Fast food opponents savour taste

This content was published on Aug 1, 2000 Around 1700 people in Switzerland are members of Slow Food, which was founded in Italy in 1986. Worldwide, the organisation has about 60,000 members in more than 30 countries. Its profile has been boosted by a series of setbacks suffered by the food industry in recent years. Mad cow disease, the discovery of dioxins in…

Switzerland supports the other Africa

This content was published on Aug 1, 2000 The country is currently enjoying peace, stability and economic growth following almost two decades of civil war. Addressing the conference, the Swiss foreign minister, Joseph Deiss, warned against taking a pessimistic approach to Africa. “There are many different faces to Africa,” he said. “Sierra Leone and the Congo are no more representative of Africa than…

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Banking & Fintech

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Inflation driven higher by rising fuel and accommodation costs

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UBS plans share increase to fund US acquisition

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Novartis bans GMOs in own food, but seed production continues

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Tobacco companies reject WHO accusations

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Ciba enters Wall Street

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Nestlé buys in South Africa, sells in the US

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Hopes dashed for massive mobile phone windfall

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UBS and Newsweek apologise for insensitive advertisement

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Fast food opponents savour taste

More

Switzerland supports the other Africa

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