Banking & Fintech

ETH spinoff clinches two WSJ Innovation Awards

This content was published on Nov 29, 2001 Two other Swiss startups made the top of the list in the General Technology and Base Technology categories. A panel of European business leaders judges the awards. GlyCart Biotechnology’s successful use of antibodies in cancer therapy is a unique achievement, a factor that helped the Swiss firm capture the top technology innovation prize, as well…

Investigators examine black boxes

This content was published on Nov 28, 2001 The flight data recorder and the voice recorder are being examined in Paris, said the chief inspector of the Swiss Aircraft Accident Investigation Bureau (BFU), Jean Overney. According to Overney, the data has been decoded in Paris and will be analysed in Switzerland. “It is in very good condition,” he said. It is still not…

Roche faces new pressure

This content was published on Nov 28, 2001 Just two weeks ago, the European Union fined the Basel-based concern €462 million (SFr675 million) after it found Roche guilty of forming a vitamin cartel. The fine was the largest in the EU’s history, though Roche was relaxed in accepting the judgement. It announced that the fine would be covered through provisions. But the company…

CSFB to sell online platform

This content was published on Nov 28, 2001 The deal is a further step in the investment bank’s attempts to cut costs after recently posting a third quarter loss of almost $400 million. Under the terms of the deal, the Bank of Montreal is to absorb CSFBdirect into its own online unit. CSFB’s headquarters are to remain in Jersey City, New Jersey. CSFBdirect…

More courses planned for new drivers

This content was published on Nov 28, 2001 The legislation was approved on Tuesday in the House of Representatives by 97 votes to 65. It would oblige all holders of a provisional driver’s licence to take three more courses during their three-year probation period. The measure was criticised by some politicians, who questioned the efficiency of the driving test if additional courses were…

Expo.02 short of cash

This content was published on Nov 28, 2001 Expo.02 spokeswoman, Marina Villa, said up to SFr110 million ($66.6 million) had failed to materialise. As a result, the government is considering a new SFr120 million cash injection next year. Villa blamed the lack of sponsor enthusiasm on the September 11 terrorist attacks in the United States. However, Expo.02 was beset by several financial problems…

Awards ceremony rolls out red carpet for Swiss cheese

This content was published on Nov 28, 2001 The ceremony, attended by hundreds of Swiss cheese producers, was the culmination of a three-day event in the Swiss capital designed to promote home-produced cheese and encourage consumers to try less well-known varieties. Anton Schmutz, director of Fromarte, an umbrella organisation of Swiss cheese makers, told swissinfo there was a serious motive behind the unusual…

Mont Blanc tunnel to reopen amid traffic, safety questions

This content was published on Nov 28, 2001 The French and Italian governments announced on Tuesday that the tunnel, which has been closed since 39 people died in a fire in March 1999, would reopen to passenger vehicles on December 22, a week later than initially planned, once delayed security tests had been completed. A decision on allowing trucks to use the tunnel…

Further jobs threatened as machinery orders plunge

This content was published on Nov 27, 2001 The industries’ umbrella organisation, Swissmem, said on Tuesday that it was only thanks to a “comfortable backlog” of orders that sales and exports had not been affected by the downturn. The results were released after a survey in which 180 member companies of Swissmem took part. Commenting on the decline, Swissmem director, Thomas Daum, told…

Richest Swiss become a little poorer

This content was published on Nov 27, 2001 The annual list from the economics magazine, Bilanz, shows the 300 richest Swiss residents still have around SFr390 billion between them, even though the crash in the new economy sector and the downturn in the wider economy have hit their investments. The richest of them all is Serono chief, Ernesto Bertarelli, whose fortune is estimated…

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