Banking & Fintech

Vaud cantonal bank hammered by bad debts

This content was published on Mar 19, 2002 The losses at Switzerland’s fourth largest bank in Lausanne were expected after an audit revealed in December that the BCV had debts of SFr2.3 billion. The BCV said at the time that it was increasing its credit risk provision to SFr1.7 billion, which would involve a recapitalisation of SFr600 million, half of which was to…

Xstrata shareholders approve coal expansion

This content was published on Mar 19, 2002 Xstrata is to merge with a new company under British law, Xstrata plc, and be listed on the London stock exchange. The deal is part of Xstrata’s plans announced last month to acquire the coal mining activities of its main shareholder – another Zug-based commodities group Glencore International – for $2.5 billion (SFr4.15 billion). Finance…

Nearly a third of Swiss farms face closure

This content was published on Mar 19, 2002 The predictions come in the department’s newly published report on the state of Switzerland’s agricultural sector for the year 2001. The figures make depressing reading for Switzerland’s mountain farmers in particular, many of whom have struggled for years to make ends meet. But Swiss farmers already receive fairly generous direct subsidies from the government, and…

If the computer fits, wear it

This content was published on Mar 19, 2002 At the electronics laboratory of the Federal Institute of Technology in Zurich, scientists are devoting their efforts to building wearable computers. “The aim is to have a computer unobtrusively integrated in our clothes which is always on and which can help us in our daily business,” laboratory head, Professor Gerhard Tröster, told swissinfo. Combining electronic…

Swiss winemakers show off their wares in London

This content was published on Mar 19, 2002 The event, which took place in the British capital on Tuesday, was attended by 21 of Switzerland’s top wine producers who are trying to convince foreign buyers that Swiss wines can compete with the best. Daniel Lehmann, director of the Swiss Wine Exporters Association, says Swiss wine is still comparatively little known outside the country’s…

Precious Woods plants itself on stock exchange

This content was published on Mar 18, 2002 Founded in 1990, Precious Woods moved to Switzerland from the Virgin Islands last year as part of its plan to go public. The company, whose main shareholders are banks, insurance companies and Swiss pension funds, has issued 180,000 new shares with a nominal value of SFr50 ($30.08) to bring its share capital up to SFr81…

Converium reports huge losses for 2001

This content was published on Mar 18, 2002 The former Zurich Reinsurance business, which went public last December, said in a statement on Monday that losses from the September 11 terrorist attacks in the United States were $289.2 million. Analysts say this is low compared with losses suffered by other reinsurance companies. Converium said it was only “marginally exposed” to asbestos and environmental…

Alpacas graze in Swiss Alps as owner fields offers to sell

This content was published on Mar 18, 2002 Above the village of Termen, the alpacas have found a new home, thousands of miles from their native South America. And they have drawn attention from designers and potential buyers as far away as the United States, and Italy, because of the fine quality of their wool. They belong to the camel family and are…

Post Office to axe 1,000 jobs

This content was published on Mar 17, 2002 At least eight mail sorting centres out of the current 20 will disappear, said François Tissot-Daguette, the company spokesman, confirming a report from the Sunday paper, “SonntagsZeitung”. “We are studying the various possibilities we have,” said the spokesman. “But the restructuring will cost 1,000 jobs, no matter which path we follow.” The first mail sorting…

Swissair rescue efforts continue

This content was published on Mar 17, 2002 “I can confirm that a group of investors have made an offer to buy Swissair,” Jean-Claude Donzel, spokesman for the Swissair Group, told swissinfo. “Our manager, Mario Corti, has informed the Cabinet, the board of the Swissair Group (which has two members), and Karl Wüthrich, who’s the court-appointed administrator of the group,” Donzel added, without…

Banking & Fintech

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Banking & Fintech

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Vaud cantonal bank hammered by bad debts

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Xstrata shareholders approve coal expansion

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Nearly a third of Swiss farms face closure

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If the computer fits, wear it

More

Swiss winemakers show off their wares in London

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Precious Woods plants itself on stock exchange

More

Converium reports huge losses for 2001

More

Alpacas graze in Swiss Alps as owner fields offers to sell

More

Post Office to axe 1,000 jobs

More

Swissair rescue efforts continue

Popular Stories

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