Banking & Fintech

Swiss star faces stock market probe

This content was published on Apr 26, 2002 The investigation, announced by the Swiss bourse (SWX) on Friday, comes in the same week that the computer peripherals firm posted its best full year results ever, with net income up by 66 per cent for the fiscal year 2002. The SWX says the probe concerns Logitech’s 2001 third quarter results report. SWX spokesman, Leo…

Government rejects pressure to ease Gotthard limits

This content was published on Apr 26, 2002 Drivers and road hauliers associations said they were disappointed by the outcome of the talks held on Thursday. They renewed calls for the government to abandon the alternating one-way system for trucks through the Gotthard, saying it had caused chaos on the main transalpine route through central Switzerland. The Swiss transport minister, Moritz Leuenberger, did…

US gives green light to alliance between “swiss” and American

This content was published on Apr 26, 2002 The two companies signed an agreement in March to start code sharing to 35 destinations in the US and Europe from May 15. The sharing arrangements are set to expand to a total of 128 “swiss” destinations and 234 American Airlines destinations. Both will also join forces on their frequent flyer programmes, adding to one…

Couchepin prepares for tax talks

This content was published on Apr 25, 2002 Speaking to business leaders in Spain, which holds the rotating presidency of the European Union, Couchepin repeated Switzerland’s position that banking secrecy would not be compromised during talks to forge new bilateral agreements with the EU. His address comes less than two weeks before Swiss negotiators prepare to hammer out an agreement on the taxation…

Banking Commission calls for legal changes

This content was published on Apr 25, 2002 In particular, it wants to make life easier for foreign regulatory authorities to receive information from Switzerland. At a news conference in Bern on Thursday, the president of the Commission, Kurt Hauri, explained that changes were needed in order to protect the interests of Switzerland as a financial centre. The Commission – Switzerland’s banking watchdog…

Cabinet goes the last mile to liberalise telecoms

This content was published on Apr 25, 2002 Under the plan, the business of connecting Switzerland’s homes and businesses to phone services would be opened up to competition. The move poses a challenge to Swisscom, Switzerland’s state-controlled phone company. Communications minister, Moritz Leuenberger said he wanted to free competition for end-connections – the so-called “last mile” of phone cable that connects around four…

Business digest

This content was published on Apr 25, 2002 The company said it expected earnings before interest, taxes and amortisation to reach as much as SFr77 million, and organic sales growth for the coming year of more than 10 per cent. In February Phonak cut earnings forecast by 30 per cent due to market pressures and restructuring costs. Economiesuisse The umbrella organisation for Swiss…

Motoring groups pile on the pressure over Gotthard tunnel

This content was published on Apr 25, 2002 Motoring associations are to push for an end to chronic traffic congestion in the tunnel during round-table discussions with federal authorities on Thursday. Drivers and road haulers associations are renewing calls for the government to abandon the alternating one-way system for trucks through the Gotthard, which they say has caused chaos on the main transalpine…

Gloomy prospects for Swiss hotels

This content was published on Apr 24, 2002 According to figures released by the Swiss Hotel Association, overnight stays were down 7.7 per cent (1.1 million stays) compared with the previous year. Although the number of overnight stays, currently 14.5 million, did not decline as much as expected – an 11 per cent drop had been predicted — hoteliers are not optimistic about…

Logitech puts in strong performance

This content was published on Apr 24, 2002 The company announced on Wednesday that net income for the fiscal year 2002 (April 2001 – March 2002) was $75 million (SFr123.75 million), an increase of 66 per cent over last year’s net income of $45 million. Logitech, which is based in Romanel-sur-Morges in Switzerland and in Fremont, California, said net income for the fourth…

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Swiss star faces stock market probe

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Government rejects pressure to ease Gotthard limits

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US gives green light to alliance between “swiss” and American

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Couchepin prepares for tax talks

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Banking Commission calls for legal changes

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Cabinet goes the last mile to liberalise telecoms

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Business digest

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Motoring groups pile on the pressure over Gotthard tunnel

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Gloomy prospects for Swiss hotels

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Logitech puts in strong performance

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