Banking & Fintech

Parliament to force disclosure of top corporate pay

This content was published on Mar 11, 2002 The House of Representatives also came out in favour of amending the code of obligations so that companies listed on the Swiss Stock Exchange would be obliged to reveal details of all remuneration to board members, including bonuses and perks. The House said it was important to demonstrate the willingness of politicians to take action.…

Earnings meltdown at Swiss steel

This content was published on Mar 11, 2002 The bad news comes as Swiss steel is bracing for tough times ahead following the President George W Bush’s decision to impose 30 per cent tariffs on steel imports. Earnings at Swiss steel went into meltdown even though sales declined just two per cent to SFr576.8 million. There were two main reasons for the fall…

September 11 hammers Zurich bottom line

This content was published on Mar 11, 2002 The group, whose controversial chairman and CEO Rolf Hüppi is to step down as CEO later this year, said in a statement that its results were affected by insurance losses of $706 million after the terrorist attacks in the United States six months ago. The news sent the company’s share price falling to SFr351 in…

Unemployment climbs toward symbolic level

This content was published on Mar 11, 2002 Unemployment is hovering around the 2.6 per cent mark – low in comparison with most countries, but high enough to cause unease in Switzerland. The trend is also disheartening – in the first two months of the year unemployment shot up with 8,458 people joining the ranks of the unemployed, taking the number of jobless…

UN offers little to business

This content was published on Mar 11, 2002 However, Held, director of the Swiss think tank Avenir Suisse, told swissinfo in an exclusive interview that a “no” vote on UN membership would have been economically harmful. “It’s not just the image of Switzerland that would’ve been damaged. If you look at international trade relations, if you look at the whole procurement scene I…

Hey Presto! The incredible shrinking car

This content was published on Mar 11, 2002 One of the more remarkable things about the Presto is its country of origin – Switzerland, a place with virtually no motor industry to speak of. It is made by Rinspeed, a Zurich-based company that specialises in producing prototypes and concept cars. The Presto has been described as “the incredible shrinking car”, because its most…

Former ABB CEOs to pay back SFr137 million

This content was published on Mar 10, 2002 The company made the announcement on Sunday following talks with Percy Barnevik, who retired in 1996, and his successor Göran Lindahl, who left ABB at the end of 2000. “These settlements, achieved amicably, show that the principles of good corporate governance are being fully implemented in our company,” said ABB chairman, Jürgen Dormann. When he…

Mont Blanc reopens – as do the arguments

This content was published on Mar 9, 2002 The tunnel between France and Italy has been closed since March 1999 when an accident triggered an inferno, killing 39 people. Now, three years and €341 million (SFr501 million) later the tunnel is ready for traffic. But the arrival of passenger cars under Europe’s highest mountain has triggered mixed feelings. For the governments of Italy,…

Credit Suisse rattled by media reports

This content was published on Mar 8, 2002 In a statement, Switzerland’s second biggest bank said CSFB was not involved in structuring the partnerships that led to Enron’s bankruptcy. It said all the partnerships structured by CSFB were approved by rating agencies, external legal counsel and external auditors. Credit Suisse noted that Enron had done business with many investment banks, including CSFB and…

Swiss wireless startups merge

This content was published on Mar 8, 2002 MC.n will be led by Hans Ivanovitch, the former CEO of Sunrise, an alternative telecommunications operator in Switzerland, who has been consulting in Germany for the past few years. Both MC.N, based in Nyon, and uB-mobile, based in Geneva, were pegged by Swiss Venture Update editor, Valerie Thompson, as two of Switzerland’s Internet Elite. But…

Banking & Fintech

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Banking & Fintech

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Parliament to force disclosure of top corporate pay

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Earnings meltdown at Swiss steel

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September 11 hammers Zurich bottom line

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Unemployment climbs toward symbolic level

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UN offers little to business

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Hey Presto! The incredible shrinking car

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Former ABB CEOs to pay back SFr137 million

More

Mont Blanc reopens – as do the arguments

More

Credit Suisse rattled by media reports

More

Swiss wireless startups merge

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