Banking & Fintech

UBS hit by economic slowdown

This content was published on Nov 16, 2001 The results were even worse than analysts’ forecasts and UBS said it expected deteriorating economic conditions to continue to effect the bank’s performance in the short-term. Other companies added to the bad news this week Europe’s largest maker of orthopaedic devices, Sulzer Medica, saw its net profit fall 49 per cent in the third quarter,…

Weaker Credit Suisse third-quarter results expected

This content was published on Nov 16, 2001 Like other global financial institutions, the banking giant is suffering from the economic slowdown and the uncertainty on the equity markets. On Friday, the group’s investment banking arm, Credit Suisse First Boston, posted a third-quarter loss of almost $400 million (SFr660 million). Although rivals have seen stock market volatility eat into their margins, they are…

Ski free in Swiss Alps

This content was published on Nov 16, 2001 Top spots like Arosa, Saas Fee and Crans-Montana are among the 14 winter resorts participating in the special offer. Switzerland Tourism, the country’s main tourism marketing body, is putting the accent on “ski free” as part of its newly launched high-profile winter campaign. The campaign, “Switzerland’s True Wealth”, presents Switzerland as a veritable winter wonderland.…

Bucher sees lower profit

This content was published on Nov 16, 2001 The Swiss industrial group said in a statement on Friday that sales should hold steady at around SFr1.5 billion, but operating profit will not reach last year’s SFr102.2 million and net financial results will decline. “Since the half-yearly result for 2001 was published, the economic climate in the markets of our divisions has increasingly deteriorated.…

Safe-haven role wanes for Swiss franc

This content was published on Nov 16, 2001 “The Swiss franc used to be a more important safe-haven currency. With the appearance of the euro I think that something has changed,” Roth said in an interview with Britain’s Financial Times newspaper on Friday. “We now have one traditional bloc of US dollars, a new bloc with the euro, and then the other currencies…

Corti highlights airline alternatives

This content was published on Nov 16, 2001 In an interview in the German language Swiss newspaper, the Tages Anzeiger on Friday, he said there were less costly alternatives to the government-sponsored Phoenix Plus plan. “The larger part of the foreign operation cannot be saved. But the rest of Swissair can be restructured with the assistance of a guarantee from the Confederation,” said…

CSFB reports loss

This content was published on Nov 16, 2001 The loss was in line with forecasts, as it paid out large retention bonuses and grappled with the economic slowdown and a disruption following the terror attacks on the United States on September 11. It added in a statement released Thursday that the outlook for underwriting shares offerings, one of its main businesses, was bleak,…

Pedal power gets an extra push

This content was published on Nov 16, 2001 “An e-bike is not a substitute for an ordinary push-bike. It’s a very different animal,” claims Hans-Jürgen Wenger, who owns one of Switzerland’s handful of e-bike centres. “It’s a very advanced piece of technology,” agrees Daniel Bachofner of IG Velo, a group set up to defend the interests of cyclists. E-bikes are designed to maximise…

Big bargains at Solothurn art mart

This content was published on Nov 16, 2001 For the second consecutive year, this small Swiss city is hosting an art supermarket where works by living artists – perhaps some of tomorrow’s big names – are fetching from SFr99 to SFr599 ($60 to $400). The supermarket is a far cry from Art Basel, the annual fair which generates tens of millions of dollars…

Microchip smells trouble

This content was published on Nov 15, 2001 Zurich’s Federal Institute of Technology developed the chip with other European universities. The device could be used for different applications, such as monitoring air quality in closed rooms. The researchers say it can detect dangerous, and sometimes poisonous, substances in the air, like benzene from petrol pumps or chemicals from dry-cleaning installations. Just seven millimetres…

Banking & Fintech

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Banking & Fintech

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UBS hit by economic slowdown

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Weaker Credit Suisse third-quarter results expected

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Ski free in Swiss Alps

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Bucher sees lower profit

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Safe-haven role wanes for Swiss franc

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Corti highlights airline alternatives

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CSFB reports loss

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Pedal power gets an extra push

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Big bargains at Solothurn art mart

More

Microchip smells trouble

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