Banking & Fintech

Blue chips set to report results

This content was published on Aug 10, 2001 On Tuesday, Switzerland’s biggest bank, UBS, will reveal its interim figures. Early analyst estimates forecast a downturn in profit of nearly 40 per cent over the second quarter after write-downs on its private equity portfolio. UBS, the world’s largest private wealth manager, was cheered after its first quarter results in May showed it reversed outflows…

Rail 2000 on track to ensure quicker travel

This content was published on Aug 10, 2001 When the line opens at the end of 2004, the speeds reached will be the fastest on the Swiss rail network. Rail 2000 is the concept approved by the Swiss in 1987, with the aim of making services more frequent, faster, more direct and more comfortable. And unlike most major projects, Rail 2000 is more…

Swiss economy slowing

This content was published on Aug 10, 2001 On Thursday the beverages group, Feldschlösschen, announced it was to cut 150 jobs by early next year as part of a major restructuring programme. A company statement said the cuts would mainly affect managerial positions. This news followed on from unemployment figures for July released on Wednesday. In another sign that the country’s economic fortunes…

Sharp profit fall at Julius Baer

This content was published on Aug 10, 2001 The group said on Friday the result was attributable mainly to a decline in transaction-related earnings, as well as to a rise in operating expenses. Assets under management at mid-year 2001 totalled SFr141 billion. The group said that net income from trading registered a fall of 42 per cent in the first half of 2001…

Experts issue drugs warning for Zurich Street Parade

This content was published on Aug 10, 2001 Traditionally, ecstasy is the popular drug at such events, but experts now warn that other, lesser known and potentially more dangerous drugs have reached the market. Dr Peter Iten, head of the toxicology department at Zurich’s Institute of Legal Medicine, says new brands of amphetamines pose a particular worry, especially when users don’t know exactly…

Sabena announces major job losses

This content was published on Aug 9, 2001 In a statement from Brussels on Thursday, Sabena said it would also sell off its catering, cargo handling and maintenance activities, slim down its aircraft fleet and cancel eight routes. The announcement followed a second day during which the airline had to cancel many European flights as workers went on strike in protest at the…

Swiss take wider view of food supply

This content was published on Aug 9, 2001 Isolated in the heart of Europe and believing itself surrounded by hostile neighbours in the wake of the Second World War, the Swiss authorities implemented a plan to cultivate crops on most of the available land. Older Swiss remember potatoes being planted in the centre of larger towns and cities such as Zurich. It was…

Swissair and airline industry face more turbulence

This content was published on Aug 9, 2001 Pierre Jeanniot, IATA director-general, said that over-capacity and declines in growth numbers “point to a worrisome evaporation of traffic growth”. The Swissair Group, which is facing a financial crisis after losses in 2000 of SFr2.9 billion ($1.71 billion) is going to be hit by the trend more than most, according to Swiss aviation journalist Sepp…

Feldschlösschen to cut 150 jobs

This content was published on Aug 9, 2001 The cuts, to be completed during the early part of next year, will mainly affect managerial employees. Details of the company reorganisation are expected to be revealed in the next few weeks. The company hopes to improve its efficiency and competitiveness with the plan to focus on customer care. As part of the restructuring, the…

Disetronic boosts sales

This content was published on Aug 9, 2001 The Burgdorf-based company said it felt confident that it would achieve sales growth of between 20 and 25 per cent for the year as a whole with a slightly higher rise in net earnings. It gave no profit figures for the first quarter. It said second half sales should speed up and even accelerate depending…

Banking & Fintech

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Banking & Fintech

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Blue chips set to report results

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Rail 2000 on track to ensure quicker travel

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Swiss economy slowing

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Sharp profit fall at Julius Baer

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Experts issue drugs warning for Zurich Street Parade

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Sabena announces major job losses

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Swiss take wider view of food supply

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Swissair and airline industry face more turbulence

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Feldschlösschen to cut 150 jobs

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Disetronic boosts sales

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