Banking & Fintech

Regulators probe CS Group’s Argentina connection

This content was published on Feb 10, 2002 The Federal Banking Commission has asked the CS Group, Switzerland’s second largest bank, to submit a report on the bank’s activities in South America and its involvement in the alleged unlawful dealings of its partner bank, Banco General de Negocios (BGN). Tanja Kocher, spokeswoman for the Federal Banking Commission, told the Swiss newspaper “SonntagsZeitung”: “We…

Swiss Life pushes its Internet business

This content was published on Feb 10, 2002 With an investment of some SFr75 million ($43.68 million) in the project, redsafe.com is the first integrated online financial services company in Switzerland. “You can do everything which matters in your personal financial life on one platform, including banking transactions, brokerage, buying investment funds and taking out insurance,” Redsafe Bank chief market officer Michael Brockhaus…

Swiss economy set to recover

This content was published on Feb 9, 2002 According to a forecast by Basel Economic Ltd (BAK), an independent economic research institute, the economy is set to pick up again half way through the year. The BAK has forecast the real gross domestic product (GDP) to grow by 1.3 per cent in 2002 compared with 1.5 per cent in 2002, after revising their…

Coffee machines brew success for Swiss couple

This content was published on Feb 9, 2002 But the company located in the celebrated resort in canton Lucerne does not make the stuff of dreams. It makes coffee machines. While it would be rather tempting to scoff and ask “so what?”, it is something of an eye-opener to take a look behind the scenes of what is undoubtedly one of Switzerland’s most…

Swissair investigation ordered

This content was published on Feb 8, 2002 A statement to creditors and the media on Friday said that by agreement with the government and the canton of Zurich, the administrator had commissioned the consultancy firm, Ernst and Young, to carry out the investigation. An important focus of the investigation will be analysis of what is known as the “hunter strategy” by which…

Swissair announces sale of Swissport

This content was published on Feb 8, 2002 As expected, the British equity group, Candover Investments, has acquired the Swissair Group subsidiary. Swissport spokesman Stephan Beerli said Candover Investments would pay SFr274 million, while a consortium of banks, led by the Royal Bank of Scotland, would provide the balance of SFr306 million. Beerli added that no job losses were expected at Swissport, which…

Farmers demonstrate against rise in milk quota

This content was published on Feb 8, 2002 Around 50 farmers from all over Switzerland began the protest by placing a symbolic deposit of freshly produced milk outside the parliament building. The demonstrators said they had hoped to pour milk on the floor outside the office of the economics minister, Pascal Couchepin, in a gesture of defiance against the increase. But they were…

UBS to sell Hyposwiss

This content was published on Feb 8, 2002 UBS said in a statement on Friday that the move was aimed at streamlining its private banking activities in Zurich. It added that the sale, for an undisclosed price, would bring UBS a pre-tax profit of about SFr165 ($97.63 million). This profit will be reported in the income statement for the first quarter of 2002.…

Ringier deal for Jean Frey falls through

This content was published on Feb 8, 2002 The Basler Media Group, owner of the Jean Frey publishing house that produces the weekly “Weltwoche”, the “Bilanz” monthly business magazine and the bi-monthly “Beobachter”, said the titles would now be bought by a group of Swiss institutional and private investors. In a new agreement announced on Friday, the Basler Media Group, which publishes the…

Swiss tooth is sweeter than ever

This content was published on Feb 8, 2002 Statistics published on Friday reveal that the Swiss consumed on average 12.3 kilograms of chocolate per person during 2001. The figures represent a year-on-year increase of 400 grammes per person. “Swiss chocolate is becoming more and more popular at home as well as abroad,” said Chocosuisse in its annual review of the state of the…

Banking & Fintech

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Banking & Fintech

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Regulators probe CS Group’s Argentina connection

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Swiss Life pushes its Internet business

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Swiss economy set to recover

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Coffee machines brew success for Swiss couple

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Swissair investigation ordered

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Swissair announces sale of Swissport

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Farmers demonstrate against rise in milk quota

More

UBS to sell Hyposwiss

More

Ringier deal for Jean Frey falls through

More

Swiss tooth is sweeter than ever

Popular Stories

Most Discussed