Banking & Fintech

Investors bet biotech will be next boom business

This content was published on Jan 30, 2002 A full third of the 93 finalists in the Swiss Venture 2002 competition – for the most promising business plans – were chosen for ideas based on advances in molecular biology and chemistry. The result confirms a trend in the Swiss corporate community, where venture capital has shifted away from telecommunications, new media, and information…

ABB to take asbestos charge

This content was published on Jan 30, 2002 The news that the company would as a result post a loss for 2001 wiped nearly $1 billion (SFr1.7 billion) off ABB’s stock market value. The news shocked the market which had recently pushed ABB shares higher on hopes that the asbestos problems were contained. Shares ended the day down almost seven per cent at…

Carnival fever grips Switzerland

This content was published on Jan 29, 2002 Carnival has become more popular than ever and is the biggest event of the year in many Swiss villages, towns and cities. It kicks off on February 2 in the isolated Lötschen Valley in the Valais Alps when men known as the “Tschäggättä” parade from village to village. They drape goatskin or sheepskin over their…

Sales blunted at Victorinox

This content was published on Jan 29, 2002 The attacks triggered bans on pocket knife sales at many airports, and travellers were forced to give up any sharp implements in their hand luggage before boarding aircraft. Sales of the company’s army knives – recognisable by the white cross on a red shield – fell by almost a third in the final three months…

Sweet success for chocolate firm

This content was published on Jan 29, 2002 The Swiss confectionary group said on Tuesday that it expected operating profit in 2001 to have grown faster than sales. The company, which is based in Kilchberg just outside of Zurich, was founded in 1845 and now has a strong presence in the United States. “Despite the challenging market situation, all group companies, with the…

Triumph pulls out of Myanmar

This content was published on Jan 28, 2002 The company announced the decision on Monday after months of protests and pressure by the Geneva-based International Labour Organization (ILO) and several non-governmental organisations (NGOs). A year ago the ILO called on governments, companies and unions to implement sanctions against Myanmar, formerly known as Burma. Public pressure Triumph said it was pulling out in response…

UBS to cut 160 jobs at Enron

This content was published on Jan 28, 2002 A UBS spokesman told swissinfo that 640 staff would be retained after the takeover, out of a total of around 800 employees. UBS chief executive Peter Wuffli also told the German newspaper, Handelblatt, that absorbing the energy-trading unit into the financial group would not mean additional risks for the bank, since the new unit would…

Rate cuts take time to work, says Gehrig

This content was published on Jan 28, 2002 He told the German-language, Aargauer Zeitung, that rates had fallen sharply already and that cuts needed time to have an impact on the economy. “It is possible that one has to cut rates again, but perhaps this is no longer necessary,” he told the newspaper in an interview published on Monday. “You have to be…

Anti-GM farmers state case in Switzerland

This content was published on Jan 27, 2002 Their visit to Switzerland has been part of a campaign by Greenpeace and the Bern Declaration, a non-governmental group, to impose a moratorium on the commercial use of GM plants. The Swiss government’s consultation period on future legislation for GM crops, known as the Genlex programme, ends in April. It is expected to incorporate legislation…

Report says Corti paid SFr12.5 million to take Swissair job

This content was published on Jan 27, 2002 The money was reportedly made available to Corti even before his first day on the job as “rescuer” of the troubled Swissair, which eventually collapsed late in 2001. Corti was named to the CEO position on March 16, 2001. When he took over, it was not publicly known that he had made a multi-million-franc agreement…

Banking & Fintech

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Banking & Fintech

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Investors bet biotech will be next boom business

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ABB to take asbestos charge

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Carnival fever grips Switzerland

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Sales blunted at Victorinox

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Sweet success for chocolate firm

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Triumph pulls out of Myanmar

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UBS to cut 160 jobs at Enron

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Rate cuts take time to work, says Gehrig

More

Anti-GM farmers state case in Switzerland

More

Report says Corti paid SFr12.5 million to take Swissair job

Popular Stories

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