Banking & Fintech

Swiss railways take tilt-trains off track

This content was published on Aug 17, 2001 The railways decided to remove the trains after various parts fell off a wheel control gear on one of the tilt-trains on Sunday. The checks this week revealed further loose parts on four trains, although no explantion has been found for this shortcoming. Because the reasons behind the incidents remain unclear, the federal railways have…

Week brings good news for Sulzer Medica shareholders

This content was published on Aug 17, 2001 The proposed compensation package is worth an estimated SFr1.3 billion ($780 million). News of the Sulzer Medica offer sent the company’s share price soaring.The compensation payments will be financed by Sulzer’s insurance coverage and by 50 per cent of group net income over the next few years. Clariant, the Basel specialty chemicals company, announced on…

Switzerland’s second largest company – a well-kept secret

This content was published on Aug 17, 2001 It is, however, better known abroad – sometimes in controversial circumstances. In May, for example, the company was stopped by the United States, France and Britain from purchasing Iraqi oil after it allegedly illegally diverted a shipment of Iraqi crude from the US to Europe. After Nestlé, Glencore is the second richest corporate entity to…

CSFB sacks 18 bankers in Asia

This content was published on Aug 17, 2001 “We have cut 18 investment bankers in Asia and the majority of those are bankers based out of Hong Kong. The remaining are staff from Singapore,” said Tom Grimmer, CSFB’s spokesman in Hong Kong. “There were two reasons for the cut, firstly, the global economic slowdown and secondly, the move is a further adjustment of…

Profits up at Ems Chemie

This content was published on Aug 17, 2001 Its first-half financial result rose 30 per cent to SFr52 million, but the group didn’t specify the reasons for the increase. Net sales in the period rose 12 per cent to SFr644 million. Excluding factors which affected its consolidated results, sales would have risen four per cent. The Swiss-based company said it expected sales to…

Sarasin delays investments

This content was published on Aug 17, 2001 The bank said on Friday that it planned to slow the pace of its expansion, and would also delay major investment projects. Sarasin, controlled by its partners, has been the focus of speculation that it might be sold to one of its larger partners. However, it made no mention of such speculation in its first-half…

Nestlé in talks over sale of British ice-cream unit

This content was published on Aug 17, 2001 Nestlé’s interests in Britain include the Lyons-Maid business it bought nine years ago and also the ice-cream versions of its own confectionary brands like Kit-Kat. “If successful, the discussions will result in the business being sold to Richmond,” said a Richmond company statement. “This will give Richmond the right to manufacture, import, distribute and sell…

Producer prices edge higher in July

This content was published on Aug 16, 2001 The Federal Statistics Office said on Thursday that the combined index was up 0.2 points on July 2000 and slipped 0.1 on June. The producer price index was up 0.7 points on last year and slipped 0.1 on June while import prices dropped 0.8 points from last year and 0.1 from June. The statistics office…

Anxious callers turn to toxicology hotline for advice

This content was published on Aug 16, 2001 In one case, a 15-month-old baby died after swallowing methadone, which is commonly prescribed to heroin users as a substitute drug for the treatment of addiction. “The common sense advice we give to parents of small children is they shouldn’t store harmful substances at home – if they have to, they should lock them away…

Novartis numbers better than expected

This content was published on Aug 16, 2001 Analysts had been expecting a slightly lower profit from the Basel-based company over the first-half of 2001. First-half operating profits rose by seven per cent to SFr3.48 billion, but its operating margin slipped, as expected, to 22.5 per cent of sales from 23.5 per cent in the same period last year as it boosted spending…

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Banking & Fintech

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Swiss railways take tilt-trains off track

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Week brings good news for Sulzer Medica shareholders

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Switzerland’s second largest company – a well-kept secret

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CSFB sacks 18 bankers in Asia

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Profits up at Ems Chemie

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Sarasin delays investments

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Nestlé in talks over sale of British ice-cream unit

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Producer prices edge higher in July

More

Anxious callers turn to toxicology hotline for advice

More

Novartis numbers better than expected

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