Banking & Fintech

UBS shares shaken by Arnold’s departure

This content was published on Dec 19, 2001 Arnold is to be replaced by 44-year-old Swiss banker, Peter Wuffli, chief executive officer of UBS Asset Management. UBS’s stock closed down more than two per cent on Wednesday at SFr80.90, following a 4.2 per cent drop on Tuesday, when Luqman’s departure was announced. During a telephone conference, Wuffli brushed off the market reaction by…

Government guarantee for airlines not extended

This content was published on Dec 19, 2001 The carriers will have to come to an agreement with their insurers by that date after the authorities decided on Wednesday the guarantee was no longer necessary. It was introduced in October after insurance companies cancelled all their contracts with the airlines following the September 11 attacks in the United States. The guarantee had been…

Unaxis sells Leybold Optics

This content was published on Dec 19, 2001 The deal is part of the company’s policy of asset sales followed over the past two years. Unaxis, formerly known as the industrial conglomerate Oerlikon Buehrle, has been re-branding itself as an information technology and optical component manufacturer. Leybold had sales of SFr181 million for the first nine months of the current year. The intended…

UBS makes “leadership change”

This content was published on Dec 18, 2001 British-born Arnold took over the position just seven months ago, becoming the first non-Swiss to hold the position. His immediate departure reflects a number of differences of opinion, according to the bank. It is not, however, the result of financial, operational or control issues, UBS said. “We regret the necessity to make this leadership change,”…

Transport sector hit by fresh unemployment

This content was published on Dec 18, 2001 According to figures released by the State Secretariat for Economic Affairs on Tuesday, more than 1,200 jobs were lost in the sector in the past month. This was 42.9 per cent more than in October. Overall, just under 78,000 people were unemployed in Switzerland, up 13.7 per cent over the previous month. The national unemployment…

The Swiss really get around

This content was published on Dec 18, 2001 Nearly half the journeys were for leisure activities, said the authors of the Swiss mobility study, which was carried out jointly by the Federal Office of Statistics and the Federal Office for Territorial Development. The daily distance travelled represents a 30 per cent increase since 1984. Hardly anyone stays at home during the day. Ninety…

Bankrupt Lucerne fight on

This content was published on Dec 18, 2001 After struggling both on and off the pitch this season, FC Lucerne are facing debts of more than SFr 4 million ($2.45 million), and need to find SFr 2 million by the end of the season if the club is to avoid liquidation. Despite failing to find the necessary funds in time for Wednesday’s General…

Swiss-based lingerie firm draws protests

This content was published on Dec 18, 2001 Triumph International, one of Europe’s leading lingerie manufacturers, has come under renewed attack by several NGOs and human rights groups in recent weeks because one of its garment factories is located in Myanmar (formerly Burma), a country criticized for its human rights record. “Support breasts, not dictators” The latest campaign is called “support breasts, not…

Health insurance law “partial failure” says Dreifuss

This content was published on Dec 17, 2001 Presenting a report on the law’s impact on Monday, Dreifuss said it had failed to rein in costs, but that it had guaranteed quality healthcare and a fairer distribution of the financial burden. The cost of healthcare jumped from SFr34 billion ($20.83 billion) to SFr41.6 billion between 1994 and 1999. “The law didn’t live up…

Bordello opens doors to female clientele

This content was published on Dec 17, 2001 “Angels”, set up near Leibstadt, is Europe’s first legal brothel for female clients according to the project’s promoter. “We offer a friendly atmosphere and good-looking men,” said Calvin, who refused to give his full name. “Angels” offers a full range of services, from a simple massage for SFr40 ($25) to much more if the customer…

Banking & Fintech

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Banking & Fintech

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UBS shares shaken by Arnold’s departure

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Government guarantee for airlines not extended

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Unaxis sells Leybold Optics

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UBS makes “leadership change”

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Transport sector hit by fresh unemployment

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The Swiss really get around

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Bankrupt Lucerne fight on

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Swiss-based lingerie firm draws protests

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Health insurance law “partial failure” says Dreifuss

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Bordello opens doors to female clientele

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