Banking & Fintech

Julius Bär to collaborate with Union Investment

This content was published on Sep 21, 2001 The partners also said they did not rule out collaborating on other ventures. The new product will be developed jointly and will be available on the Swiss and German markets through Union Investment group, with market launch scheduled for January 2002. Union Investment is Germany’s third-largest capital investment company in investment funds, with DM116 billion…

Clariant shares plunge on earnings fears

This content was published on Sep 20, 2001 Analysts blamed the share price fall on the economic slowdown and on increasing fears that a rise in oil prices after last week’s attacks could hit the company. Analysts are worried that the Basel-based company has little chance of reducing its debt of around SFr5 billion. Clariant forecast in August that its second half results…

SMI comes under renewed pressure as crisis continues

This content was published on Sep 20, 2001 The SMI was not alone, with stock exchanges in Frankfurt, London and Paris all showing sharp falls. Airline companies, insurance firms and other financial stacks led the decline. In Switzerland by mid-afternoon, all but two of the SMI’s 29 listed shares had registered falls. Only the telecommunications operator, Swisscom, and the inspections company, SGS, bucked…

New booklet offers health care guidance

This content was published on Sep 20, 2001 The guide, published in 19 languages, helps in finding the right health insurance and understanding how the Swiss health system works. The 60 pages contain information on what do in an emergency, who to consult in case of special needs or how to get the best insurance rate. Furthermore the booklet also deals with Swiss…

Swissair puts revenue loss at SFr65 million

This content was published on Sep 20, 2001 Swissair is now operating a full schedule to all destinations in the United States after last week’s attacks but overall passenger numbers are expected to be lower than usual. “Our best current estimate of this impact is in the range of 10 to 15 per cent on North Atlantic routes and 10 per cent on…

Swiss Re fears larger than expected impact from US attacks

This content was published on Sep 20, 2001 A company statement added that it was still undecided how and to what extent large loss reserves would be used to cover the amount. The estimate corresponds to around two thirds of the firm’s annual profit last year. It noted that it has reserves of about SFr2.5 billion to absorb such large losses. Swiss Re’s…

Swiss franc reaches 20-month high

This content was published on Sep 20, 2001 The dollar started its slump as US stocks tumbled on Wall Street and key companies warned about weaker earnings. “Stocks are definitely fuelling the move lower in the dollar,” said Hugh Walsh, vice president of Fortis in New York. “The dollar and the euro came off after the US stock market disappointed. Now we will…

Swiss join worldwide probes at stock exchanges

This content was published on Sep 19, 2001 Regulators from 10 to 12 countries are trying to establish if trading took place with prior knowledge of the attacks, by analysing trading patterns leading up to last Tuesday. “We don’t have any evidence, only the public speculation,” said Urs Zulauf, chief legal expert of the Swiss Federal Banking Commission. “But the matter is serious…

Computer worm “Nimda” hits Swiss postal site

This content was published on Sep 19, 2001 Because of the virus, services normally offered on the Swiss Post’s financial portal, Yellowworld, were unavailable, said spokesman Alex Josty. The system was disconnected to protect the security of the post office’s clients. Because of the infiltration of the worm, which reproduces rapidly, Swiss Post clients have been unable to make payments over the Internet…

Government lowers growth forecast

This content was published on Sep 19, 2001 The State Secretariat for Economic Affairs said the economy should keep running at a good capacity but added that the international slowdown and higher oil prices would weigh on its performance. The office expects a slight recovery in the economic situation in 2002 and anticipates a growth rate of two per cent. The department said…

Banking & Fintech

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Banking & Fintech

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Julius Bär to collaborate with Union Investment

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Clariant shares plunge on earnings fears

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SMI comes under renewed pressure as crisis continues

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New booklet offers health care guidance

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Swissair puts revenue loss at SFr65 million

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Swiss Re fears larger than expected impact from US attacks

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Swiss franc reaches 20-month high

More

Swiss join worldwide probes at stock exchanges

More

Computer worm “Nimda” hits Swiss postal site

More

Government lowers growth forecast

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