Banking & Fintech

Swiss company’s top tech makes airports more secure

This content was published on May 28, 2002 The eight-year-old Rotkreuz company attracted venture capital from Cornerstone Capital and DPI, the private equity holding company of Germany’s Pfister family. The SFr2.9 million (€2 million) is to be used by FAST media integrations to ramp up infrastructure to handle the demand for its Digital Video Recording systems used in the closed circuit TV security…

Von Roll posts net loss of SFr86 million

This content was published on May 28, 2002 According to a company statement published on Tuesday, the Zurich-based group said sales had dropped by 2.5 per cent to SFr1.6 billion, with order intake sinking by 9 per cent to SFr1.7 billion. The company said it had not achieved its financial goals for 2001 owing to the “unexpectedly severe recession in key markets” in…

Credit Suisse reveals inner workings

This content was published on May 28, 2002 The Group has published a “Sustainability Report” (looking at 2001), which seeks to demonstrate its concern for the social, environmental and political implications of its activities. “The report is based on the conviction that the principle of sustainability increasingly forms the basis of long-term business success,” said Credit Suisse chief executive, Lukas Mühlemann, presenting the…

Time is running out for Jordi

This content was published on May 27, 2002 In an interview with the French-speaking newspaper “Le Matin”, the head of the company, Michel Jordi said that the company’s sales had collapsed. “No matter what we do, we lose money every month,” he said. The company, which makes ethno-design watches and goods, such as wallets and key rings, from typically Swiss materials, has seen…

“swiss” bookings exceed expectations

This content was published on May 26, 2002 However, in an interview with the Swiss newspaper “Finanz und Wirtschaft”, Bouw was quick to point out that despite the increased booking numbers, losses in the second quarter would be more than in the first. “We expect that losses will be worse as a result of the heavy start-up costs involved in expanding operations to…

Selling the chestnut short

This content was published on May 25, 2002 In the early years of the 20th century, chestnut orchards spread across nearly 9,000 hectares in the southern canton of Ticino. For centuries, the local Italian-speaking population depended on chestnuts for their survival. Then the good times came and the orchards were abandoned. Chestnut trees now cover only about 2,000 hectares, and only about 500…

CSFB to adopt ‘Merrill reforms’

This content was published on May 25, 2002 The measures include greater independence for equity analysts from the influence of investment bankers. Merrill deal The investment banking arm of the Credit Suisse Group made the announcement three days after the broker, Merrill Lynch, agreed to a fine of $100 million to settle accusations of conflicts of interest in equity research. CSFB, Morgan Stanley,…

More to rubbish than meets the eye

This content was published on May 25, 2002 Rubbish researchers, kitted out in orange overalls and plastic aprons, will be sifting (by hand) through household trash until June, as part of an investigation by the Federal Office for the Environment. The government is trying to find out what the Swiss throw out, and how much refuse they generate. It is especially keen to…

Football viewing to cost SFr300 million

This content was published on May 25, 2002 According to a study by the University of St Gallen, matches in host countries Japan and South Korea will mostly be played during Swiss working hours due to the eight-hour time difference. For the millions of Swiss fans who take their football seriously, sending a sick note to the office – or no note at…

Swiss success story gives Britain the edge

This content was published on May 24, 2002 RMF announced this week that it was to be acquired by Britain’s Man Group for $833 million (SFr1.3 billion). The move will turn Man into the world’s largest fund manager, with $20 billion worth of assets under management. Almost half those assets – $8.18 billion worth – are managed by RMF, which is based in…

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