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Swissquote cuts jobs

This content was published on Feb 22, 2002 Swissquote said on Friday that it would make the cuts in a bid to break even on the operating level in 2003 amid slack demand for online financial services. The company, which launched the online Swissquote Bank last May, added that it would cut its staff to 110 from 159. “Despite the one-time restructuring costs…

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Nestlé reportedly looks to Brazil

This content was published on Feb 22, 2002 When contacted by swissinfo, Nestlé spokesman Francois Perroud said the company has a policy of not commenting on rumours. “People working close to Garoto’s management have told the union that the company is being sold to Nestlé,” Lara Lucia Lira, a director of Brazil’s Food Workers’ Union, told United States-based news agency Dow Jones Newswires.…

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Rail traffic to Italy crippled by fatal accident

This content was published on Feb 22, 2002 Swiss Railways spokesman Ruedi Estermann said the track between Como in Italy and Chiasso in Switzerland would remain closed for several days. Travellers are being offered an alternative bus service linking Como and Mendrisio in Switzerland. A key alternative route, between Bellinzona and Luino in Italy, has also been closed, following a rockslide on the…

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High costs drive Swiss away from buying own homes

This content was published on Feb 21, 2002 Real estate analysts at Switzerland’s largest bank, Credit Suisse, said they were “surprised” by a dip in building applications for single- and multi-family dwellings. The Swiss typically tend to rent rather than buy property, but low interest rates in the mid-1990s made investing in real estate an attractive option. However, homeownership has been dropping off…

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Swiss shy away from buying own homes

This content was published on Feb 21, 2002 Real estate analysts at Switzerland’s largest bank, Credit Suisse, said they were “surprised” by a dip in building applications for single-family dwellings. The Swiss typically tend to rent rather than buy property, but low interest rates in the mid-1990s made investing in real estate an attractive option. However, homeownership has been dropping off recently. The…

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ABB chiefs ready to return some cash

This content was published on Feb 21, 2002 A source at the Swiss-Swedish group told the British news agency Reuters that both Percy Barnevik and Goran Lindhal were ready pay back some of their money in a bid to defuse a public scandal. “Both gentleman have called to express their willingness to find a compromise,” the source explained. The supervisory board of ABB…

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Insurance giants plan special cover for terror attacks

This content was published on Feb 21, 2002 German insurer Allianz along with its Swiss counterparts said on Thursday that they were in talks to set up a company to take on the risks, which insurers have refused to accept since the attacks that destroyed the World Trade Center. But the three companies repeated their calls for state involvement in providing cover for…

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Xstrata details Glencore coal deal

This content was published on Feb 21, 2002 The company’s results, released on Thursday, showed net profit slump to $11.3 million (SFr19.2 million) last year from $170 million in 2000. The Swiss-based company also released details on Thursday of its planned purchase of Australian and South African coal businesses from its majority owner Glencore International for cash and stock in a deal worth…

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SIG strengthens its position in Britain

This content was published on Feb 21, 2002 SIG, which already controls a 30 per cent stake in Rexam Combibloc, announced on Thursday the acquisition of the entire shareholding of the beverage carton maker. The group said in a statement that the take-over is in line with an on-going strategy to develop its British-based unit, SIG Combibloc. SIG Combibloc has been active in…

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Chocolate factory

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Swissquote cuts jobs

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Nestlé reportedly looks to Brazil

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Rail traffic to Italy crippled by fatal accident

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High costs drive Swiss away from buying own homes

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Swiss shy away from buying own homes

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ABB chiefs ready to return some cash

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Insurance giants plan special cover for terror attacks

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Xstrata details Glencore coal deal

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SIG strengthens its position in Britain

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