Banking & Fintech

Leading institute predicts Swiss recession next year

This content was published on Oct 17, 2001 The Lausanne-based Créa Institute says in its latest report that Swiss growth will be 0 per cent in the fourth quarter and minus 0.2 per cent in the first quarter of 2002. The institute then expects a slow recovery with growth for 2002 as a whole expected to be 1.5 per cent. The growth forecast…

Crossair offers gesture to passengers

This content was published on Oct 17, 2001 For the destinations it serves, Crossair says it will accept Swissair tickets that begin with the number 085 provided the ticket is valid and the fare conditions fulfilled. It is excluding special discount tickets that Swissair has been selling over the past week. Meanwhile, Crossair said on Wednesday that it has received a planned SFr500…

Clariant releases disappointing sales figures

This content was published on Oct 17, 2001 The company said nine-month sales were flat in local currencies and down four per cent in Swiss francs to SFr7.59 billion ($4.65 billion). Clariant said it did not expect its second-half operating margins to beat first-half levels. However, the group added that its divestment and restructuring programmes were on track and that it expected to…

Cabinet to meet on Swissair as investor search continues

This content was published on Oct 17, 2001 Employee payouts That means Swissair needs up to SFr1.7 billion to keep flying until next year. A further SFr650 million is needed for payouts to the 9,000 people who would lose their jobs under the plan. In addition, Crossair says it needs to increase its equity capital from SFr450 million to SFr2.2 billion, which would…

Swiss face growing EU pressure over banking secrecy

This content was published on Oct 17, 2001 EU finance ministers meeting in Luxembourg on Tuesday cleared the way for Brussels to start talks with third countries, including Switzerland. Negotiations between Bern and Brussels are expected to start before the end of the year. The finance ministers agreed that their citizens should not be able to avoid paying tax on income from assets…

Swiss charity fights malnutrition abroad

This content was published on Oct 17, 2001 The money will go to projects in South America, Africa, and Asia. Terre des Hommes helps children and mothers choose and prepare nutritious food. “Malnutrition is often hidden, because it’s not something you notice easily with a child,” said Renate Schoch of Terre des Hommes. “But malnutrition leads to disease and inhibits the growth and…

Swiss business offers to forgo tax cuts to prop up Swissair

This content was published on Oct 16, 2001 The country’s main business association, Economiesuisse, said it was prepared to forgo tax cuts of SFr300 million a year for the next five years to help save the country’s airline industry. Business leaders said it was now up to the government to make a financial commitment to combine the remains of Swissair with its regional…

New Novartis unit to locate biotech products

This content was published on Oct 16, 2001 The aim of the ten-strong team is to identify potential big sellers before they reach the latter stages of clinical trials. “In the past, the market came to us, now we have to go to the market,” explained Paul Sekhri, the head of the global search and evaluation team at the ninth annual BioPartnering Europe…

Honegger steps down from UBS board

This content was published on Oct 16, 2001 Honegger resigned as chairman of the now collapsed aviation conglomerate in March and left its board in April. At that time, it was still called the SAirGroup. He had been a member of the airline company’s board since 1993 and had been chairman since April 2000. UBS and Credit Suisse have bought Swissair’s 70 per…

Roche sales accelerate

This content was published on Oct 16, 2001 Roche forecast that its 2001 operating profit would at least match last year’s level and said its net income would hold steady near the first half level of SFr1.5 billion. Nine-month drug sales rose seven per cent to SFr13.8 billion. They had risen just five per cent in the first half but grew by 10…

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Banking & Fintech

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Leading institute predicts Swiss recession next year

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Crossair offers gesture to passengers

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Clariant releases disappointing sales figures

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Cabinet to meet on Swissair as investor search continues

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Swiss face growing EU pressure over banking secrecy

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Swiss charity fights malnutrition abroad

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Swiss business offers to forgo tax cuts to prop up Swissair

More

New Novartis unit to locate biotech products

More

Honegger steps down from UBS board

More

Roche sales accelerate

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