Banking & Fintech

UBS rules out further mega take-overs

This content was published on Jul 16, 2000 Ospel told the Sunday newspaper “Sonntagszeitung” that further big take-overs, such as the one just completed with PaineWebber would not happen in the near future. However, he did not categorically rule out the odd acquisition of smaller companies in certain financial services. Ospel explained that the take-over of PaineWebber had balanced out the Swiss bank’s…

Crossair boss plans recruitment drive to ease technical problems

This content was published on Jul 16, 2000 Crossair’s chief, Moritz Suter, told the Swiss newspaper SonntagsBlick: “We need these technicians as quickly as possible.” After a turbulent week for Crossair in which three of its planes ran into technical trouble in mid-air, Suter said: “I am very disappointed with the bad week we’ve just had in terms of technical problems.” However, Suter…

Unseasonal weather conditions cause traffic nightmare

This content was published on Jul 15, 2000 Around 23 centimetres of snow fell in the night in the Alpine areas which contributed to the worsening of the traffic situation outside the Gotthard tunnel. A large amount of cars had been expected anyway, since several Swiss canton started their school holidays in this year’s third wave of summer vacation traffic. The Swiss Touring…

The business week in Switzerland

This content was published on Jul 15, 2000 On Monday the Swiss stock exchange (SWX) unveiled plans to set up a pan-European platform for blue chip shares in partnership with London’s Tradepoint Financial Networks electronic exchange. SWX will transfer all its blue chip trading to the new exchange – to be called virt-x – which will be based in London. In the food…

Blocher group posts strong sales results

This content was published on Jul 14, 2000 Sales went up by 8.4 per cent to SFr576 million, while earnings before tax and interest rose by 10.1 per cent to SFr101 million. A statement from company headquarters in Ems said the Performance Polymers division was seeing significant growth compared to the previous year. “This can be attributed to the increasing weight of high-margin…

SAirGroup promises profits despite rumours to the contrary

This content was published on Jul 14, 2000 An SAirGroup spokesman in Zurich confirmed a report in the weekly newspaper, “Cash”, which quoted financial officer, Georges Schorderet, as saying that profits would reach the SFr200 million mark. On Sunday, the chief executive of the group, Philippe Bruggisser, denied there was a financial and management crisis within the SAirGroup. Last weekend, the “Sonntagszeitung” newspaper…

Blue Window given green light to go public

This content was published on Jul 14, 2000 A statement from the parent company, Swisscom, said that the timing of the initial public offering (IPO) would depend partly on equity market conditions for Internet stocks. “The IPO should increase Blue Window capital and considerably strengthen the equity capital base. The IPO will give the young company increased flexibility and provide resources to forge…

UBS sets sights on stars of sport and stage

This content was published on Jul 14, 2000 UBS says that with increasing expenditure on leisure, the flow of money into these businesses has seen significant growth in recent years. In a statement, UBS said that more than SFr36 billion was spent on sports sponsorship worldwide last year, and that money was filtering through to the athletes and entertainers in the form of…

Inquiry launched after near accident at Zurich airport

This content was published on Jul 14, 2000 The Swiss Aviation Authority is trying to discover why the plane suddenly left the runway. A spokesman for Crossair’s parent company, SAir, said one of the aircraft’s four tyres had deflated. However, it is not clear whether this was the cause of the incident, or merely a consequence of it. All 32 passengers and seven…

Swissôtel retreats back to Europe

This content was published on Jul 13, 2000 It has offered the 30 people employed in the head office in Manhattan the option of relocating to Switzerland. “The future of our business lies in Europe. That’s why it makes sense for our headquarters to be in Europe as well,” says Andreas Meinhold, president and chief executive officer of Swissôtel. Ironically, it was a…

Banking & Fintech

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Banking & Fintech

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UBS rules out further mega take-overs

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Crossair boss plans recruitment drive to ease technical problems

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Unseasonal weather conditions cause traffic nightmare

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The business week in Switzerland

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Blocher group posts strong sales results

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SAirGroup promises profits despite rumours to the contrary

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Blue Window given green light to go public

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UBS sets sights on stars of sport and stage

More

Inquiry launched after near accident at Zurich airport

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Swissôtel retreats back to Europe

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