Banking & Fintech

Adecco figures please the markets

This content was published on Jul 26, 2001 The Lausanne-based company said its operating income for the first six months of the year increased 21 per cent to SFr617 million ($358 million). Sales were up 15 per cent to SFr13.8 billion compared with an increase of 37 per cent in the first quarter. Although revenue growth slowed, the figures were better than the…

UBS warns of big losses on private equity

This content was published on Jul 26, 2001 The bank said the decline in share values and the thin market in initial public offerings would weigh on earnings. For the second, third and fourth quarters of the current year, the bank said pre-tax losses would total SFr350 million to SFr400 ($204 million to $233 million). It added that most of the losses would…

Delco Remy and Hitachi unite to produce automotive parts in Switzerland

This content was published on Jul 26, 2001 The venture, called Hitachi Remy Automotive, will be based in the Swiss town of Zug, and will serve the European and North American markets. The companies said they would share their starter/alternator technologies and jointly introduce products to the global market through their existing worldwide manufacturing operations and sales organizations. Yoshiaki Honda, of Hitachi, has…

Swiss railway ambitions in Britain hit by new licensing changes

This content was published on Jul 25, 2001 The Swiss Federal Railways declared last September that it wanted to operate concessions – together with two British partners – on three separate rail lines for a maximum of 20 years, starting as early as 2003. However Stephen Byers, the British transport minister, has proposed that the Strategic Railway Authority (SRA) should no longer grant…

Bankruptcy triggers job losses in Basel

This content was published on Jul 25, 2001 The bankruptcy was confirmed by Basel’s insolvency office on Wednesday. The company, founded in 1982, has accumulated debts of SFr57 million ($33.7 million). Some 110 workers in Basel will lose their jobs, along with 40 others at a Zurich subsidiary. Dettwiler’s main creditors include Switzerland’s Credit Suisse bank and Germany’s Hypovereinsbank. They hold a SFr32…

Lonza bucks the trend

This content was published on Jul 25, 2001 The group’s earnings rose to SFr153 million ($88.44 million) on the back of stronger sales, which increased by 15 per cent to SFr912 million. “Despite the continued weakening of the world economy and under the provision that no new negative factors influence the business, the group is convinced it will surpass the results of 2000,”…

Micronas results add to gloom

This content was published on Jul 25, 2001 The company said on Wednesday that first-half net profit fell to SFr24.5 million ($14.16 million) compared with SFr32.6 million for the same period last year. The decline came despite a rise in first-half sales to SFr283.7 million from SFr216.8 million. It said that for the year as a whole it expected a modest profit and…

Centerman under fire as ABB slashes 12,000 jobs

This content was published on Jul 25, 2001 Wednesday’s newspapers won’t have made easy reading for the head of Europe’s biggest engineering concern. Centerman, in charge of ABB since the beginning of the year, said his decision to axe 12,000 jobs was in response to a harsh global economic climate, which has seen a swathe of companies cut earnings forecasts and slash jobs.…

Women wise up to the web

This content was published on Jul 25, 2001 The two-week pilot summer camp is the first of its kind in Switzerland; both teachers and students are female. The students, who work in higher education as teachers or administrators, are giving up 14 days of their summer vacation to learn skills which will help them in their professional and private lives. Trawling for news…

Swissair makes safety improvements three years after fatal crash

This content was published on Jul 24, 2001 The alterations are expected to cost the cash-strapped airline around SFr20 million ($12 million). The programme to rebuild the cockpits of the 19 MD-11s began on July 1 and will run until February 2002. As part of the safety improvements, the cockpit and first class sections are being fitted with smoke detectors, fire extinguishers and…

Banking & Fintech

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Banking & Fintech

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Adecco figures please the markets

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UBS warns of big losses on private equity

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Delco Remy and Hitachi unite to produce automotive parts in Switzerland

More

Swiss railway ambitions in Britain hit by new licensing changes

More

Bankruptcy triggers job losses in Basel

More

Lonza bucks the trend

More

Micronas results add to gloom

More

Centerman under fire as ABB slashes 12,000 jobs

More

Women wise up to the web

More

Swissair makes safety improvements three years after fatal crash

Popular Stories

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