Banking & Fintech

CSFB seeks way out of US probe

This content was published on Dec 11, 2001 CSFB, the securities arm of Switzerland’s second biggest bank, Credit Suisse Group, has agreed to pay the sum to resolve a US federal investigation into the way it dolled out shares in hot stock offerings, according to the Wall Street Journal, which cited sources close to the investigation. The settlement – details of which are…

Converium ready to join SMI ranks

This content was published on Dec 11, 2001 With the group’s American Depository Shares (ADS) priced at $24.59, Converium, the world’s number eight reinsurer, will have a market capitalisation of SFr3.28 billion. That entitles it to a berth among the top Swiss stocks. The equity is to gain near instant blue chip status as it is expected to join the benchmark SMI index…

Crash probe reveals shortcomings in cockpit design

This content was published on Dec 10, 2001 Investigators from the Canadian government’s Transportation Safety Board said that badly located emergency gauges on the MD-11 aircraft could have contributed to the disaster, which claimed 229 lives. In its safety advisory letter, the board recommended an industry-wide review of the design and location of emergency gauges in the MD-11. The document suggests that the…

Gotthard tunnel to reopen ahead of Christmas

This content was published on Dec 10, 2001 The Swiss president and transport minister, Moritz Leuenberger, said on Monday that both cars and trucks would be able to use the tunnel, with certain restrictions. He added that the measures would not differ dramatically from regulations in place before the fire on October 24. Goods vehicles, for example, will only be allowed to travel…

Swissair crash probe reveals shortcomings in cockpit design

This content was published on Dec 10, 2001 Investigators from the Canadian government’s Transportation Safety Board released a report which found that badly located emergency gauges on the MD-11 aircraft could have contributed to the disaster, which claimed 229 lives. The board is demanding an industry-wide review of the design and location of emergency gauges in the MD-11. The document suggests that the…

Finance boss follows Barnevik out of ABB

This content was published on Dec 10, 2001 ABB announced the move on Monday, less than three weeks after company chairman Percy Barnevik stepped down, saying he shared responsibility for the slump in the company’s earnings. ABB shares fell by 8.2 per cent on Monday, to close at SFr17.3 ($10.38). Fassbind, who had been CFO of the Swedish-Swiss company since 1997, was coordinating…

CSPB opens global centre in Singapore

This content was published on Dec 10, 2001 The new centre, available to clients worldwide from January, offers access to a comprehensive range of online and offline services around the world. Private banking is usually reserved for people with at least $1 million (SFr1.66 million) invested in stocks, bonds and other financial instruments. The new centre will provide access to bankers who speak…

Santa sent packing by UBS

This content was published on Dec 10, 2001 UBS has branded Santa a security threat and banned the cheery Christmas character from using its branches nationwide. “As a bank we’re very cautious and we don’t like to have masked people in the bank,” a UBS spokesman, Serge Steiner, told swissinfo. While there is no specific Santa Regulation, Steiner explained that the bank’s security…

Crossair boss says airline will still be flying in five years

This content was published on Dec 9, 2001 In an interview with the Swiss newspaper, “dimanche.ch”, Bouw said he would “not have started” if he did not think the airline was commercially viable. Under a plan hammered out in October between banks, government and industry leaders, Crossair will take over 52 aircraft from the collapsed national carrier, Swissair, and transform itself from a…

Markets wind down ahead of Christmas

This content was published on Dec 9, 2001 However, the medical technology group Card Guard will make news when it holds an extraordinary general meeting with shareholders on Monday. Card Guard announced in November that it would ask shareholders for permission to raise its capital. It said it planned to create a new authorised capital of one million registered shares, and an additional…

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Banking & Fintech

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CSFB seeks way out of US probe

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Converium ready to join SMI ranks

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Crash probe reveals shortcomings in cockpit design

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Gotthard tunnel to reopen ahead of Christmas

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Swissair crash probe reveals shortcomings in cockpit design

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Finance boss follows Barnevik out of ABB

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CSPB opens global centre in Singapore

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Santa sent packing by UBS

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Crossair boss says airline will still be flying in five years

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Markets wind down ahead of Christmas

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