Banking & Fintech

Poor results put ABB CEO Centerman under spotlight

This content was published on Feb 13, 2002 Centerman, who has been CEO and president since January last year, has been in the unenviable position of restructuring an industrial giant that has a workforce of 160,000 spread all over the globe. ABB’s losses were much larger than expected by the markets and the company has decided that no dividend will be paid out…

Virt-x still struggling for volume

This content was published on Feb 13, 2002 The increase is needed if it is to meet its objective of trading 10 per cent of European shares by the summer, the director says. In an interview with the French language newspaper, Tribune de Genève, Antoinette Hunziker-Ebneter, said virt-x needed to triple or quadruple its non-Swiss volume in the next four months. It currently…

Cabinet pressured to decide on tobacco tax

This content was published on Feb 13, 2002 A tax would make cigarettes more costly in Switzerland, at a time when anti-smoking groups have called for a cigarette price hike, to put Swiss prices in-line with European Union levels. A coalition of nine organisations recently launched a campaign for “massive increases” in price in an effort to stem the nation’s burgeoning tobacco addiction.…

WWF joins push for gene-tech pause

This content was published on Feb 12, 2002 Debate within Switzerland over modified food is set to escalate in coming months, as the Swiss parliament prepares to tackle new legislation this summer controlling the sale and agriculture of GM food. The WWF said on Tuesday that a moratorium was the only way to protect consumers and the environment. Support for research Bernadette Oehen,…

Unaxis sees light at the end of the tunnel

This content was published on Feb 12, 2002 Reporting a steep decline in sales for 2001, the company, formerly known as Oerlikon Bührle, said a recovery would not be seen until 2003. Sales for the past year were down seven per cent to SFr2.126 billion ($1.27 billion), while incoming orders plunged 39 per cent to SFr1.571 billion. Orders at its majority owned semi-conductor…

Swiss Life to buy French insurance business

This content was published on Feb 12, 2002 Fortis said in a statement that it expected to sell the unit for between €150 and €200 million (SFr221 to SFr295 million) and that the deal should be completed by the middle of the year. Swiss Life, Switzerland’s largest insurer, said in December that it was holding talks to buy Fortis France, which derives the…

Edipresse expands in east Europe

This content was published on Feb 12, 2002 The acquisition of two high-end women’s magazines in Poland continues a strategy of expansion through buying up publications that are already well established in the market. Last year, Edipresse became Poland’s leading publishing house. Next month, it will move its 280 Polish employees into a prestigious new headquarters in the heart of the capital, Warsaw.…

SNB says exporters must cope with franc’s rate

This content was published on Feb 11, 2002 In a speech to the Swiss Bankers’ Club on Monday, SNB board member, Niklaus Blattner said the bank could in theory try to weaken the franc by cutting interest rates further. But he noted that cuts by the US Federal Reserve had caused the dollar to rise rather than go down and said an increase…

Carnival fun in Switzerland

This content was published on Feb 11, 2002 The carnival season has begun, though, throughout Switzerland, the dates and traditions vary from canton to canton. The festivities are rooted in pagan spring festivals, Christian rites and secular folk customs. Some cantons carry on the ancient pagan tradition of using fearsome masks to chase away evil spirits. One of the biggest carnivals, under way…

Jobless rate at two-year high

This content was published on Feb 11, 2002 Figures from the State Secretariat for Economic Affairs (Seco) on Monday showed that the number of registered unemployed in January increased to 93,714 or 2.6 per cent. In December, the rate was 2.4 per cent. The increase was in line with most analysts’ expectations as the economic slowdown continues to bite. Unions have warned that…

Banking & Fintech

Popular Stories

Most Discussed

Banking & Fintech

More

Poor results put ABB CEO Centerman under spotlight

More

Virt-x still struggling for volume

More

Cabinet pressured to decide on tobacco tax

More

WWF joins push for gene-tech pause

More

Unaxis sees light at the end of the tunnel

More

Swiss Life to buy French insurance business

More

Edipresse expands in east Europe

More

SNB says exporters must cope with franc’s rate

More

Carnival fun in Switzerland

More

Jobless rate at two-year high

Popular Stories

Most Discussed