Banking & Fintech

EU and Switzerland tackle customs fraud

This content was published on Jul 19, 2001 Cross-border crime and fraud are among the most controversial issues under discussion between Switzerland and the 15-member EU. Brussels wants the Swiss to clamp down on cigarette smuggling, which is treated as a customs offence in Switzerland. Daniel Eckmann of the Swiss finance ministry said Switzerland was prepared to help find a solution swiftly to…

Geneva bank cuts workforce by ten per cent

This content was published on Jul 19, 2001 Spokesman Michael Wiley, confirming a report in the Swiss-French newspaper “Le Temps”, said on Thursday that the bank expected to end the year with some 920 staff worldwide, down from 1,010 at the end of 2000. But he added that there would be few actual lay-offs as the bank’s natural turnover was around ten per…

New York moots ban on Swiss blood

This content was published on Jul 19, 2001 The city of New York is mooting a recommendation by the US Food and Drug Administration (FDA), which called for blood imports from Switzerland and Europe to be stopped. The FDA says there is a risk that the human form of BSE, known as variant Creutzfeld-Jakob disease (vCJD), could reach US shores. Only New York…

Transportation of hazardous substances to be made safer in Switzerland

This content was published on Jul 19, 2001 The measures, which come into effect in August, will apply to goods transported by rail, road, and waterways. They concern both existing and future infrastructures. The guidelines will allow the office to stamp the shipment of hazardous material as either “unacceptable”, “problematic” or “acceptable”. Authorities in charge of the operation will be responsible for the…

Retail sales edge up despite economic slowdown

This content was published on Jul 18, 2001 The Federal Statistics Office said sales of shoes, textiles and clothing grew by 3.1 per cent, ending a series of very weak months. Sales of food, drink and tobacco products grew by a more modest 0.7 per cent. “The May figures are favourable, particularly in view of the fact that there was one less shopping…

Swiss America’s Cup challenge suffers setback

This content was published on Jul 18, 2001 “We were sailing normally at about 10 knots, when suddenly we heard a cracking noise,” said Jochen Schümann, who was at the helm when the incident occurred. Schümann, the German triple Olympic gold medallist, revealed that the submerged section of the rudder had been lost. As a result, the vessel began to take on water,…

Unaxis ups stake in Nextral unit to 100 per cent

This content was published on Jul 18, 2001 Unaxis-Nextral, which is based in Grenoble, is a provider of deposition and etching systems to the semiconductor industry, particularly in the telecommunications sector and for failure analysis applications. According to a statement by Zurich-based Unaxis, Nextral has tripled its turnover since Unaxis took a majority stake in 1996. With 47 employees Unaxis-Nextral achieved a turnover…

Shares soar at Swissair after Sabena deal

This content was published on Jul 18, 2001 Swissair’s shares started to recover last week after executive chairman, Mario Corti, announced plans to cut costs at the airline. Shares had plummeted over the course of the year as the airline struggled to find a way to recover from last year’s SFr2.9 billion ($1.66 billion) loss. Within the first few minutes of trading on…

Swissair deal with Belgium limits its exposure to Sabena

This content was published on Jul 18, 2001 Under the agreement, announced in Brussels on Tuesday evening, Swissair and the Belgian government are to invest a further €430 million to support the struggling carrier. Swissair, which has a 49.5 per cent stake in Sabena, is to provide 60 per cent of the funding, with the Belgian state – the majority shareholder – making…

Swissair and Belgium resolve dispute over Sabena

This content was published on Jul 18, 2001 The agreement reached on Tuesday cancels Swissair Group’s January commitment to up its stake in Sabena to 85 per cent. However, Swissair Group must take over nine Airbus A319/A320 ordered by Sabena, which are being delivered next year. The new deal allows the Swiss company to maintain its 49.5 per cent stake in the Belgian…

Banking & Fintech

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Banking & Fintech

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EU and Switzerland tackle customs fraud

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Geneva bank cuts workforce by ten per cent

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New York moots ban on Swiss blood

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Transportation of hazardous substances to be made safer in Switzerland

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Retail sales edge up despite economic slowdown

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Swiss America’s Cup challenge suffers setback

More

Unaxis ups stake in Nextral unit to 100 per cent

More

Shares soar at Swissair after Sabena deal

More

Swissair deal with Belgium limits its exposure to Sabena

More

Swissair and Belgium resolve dispute over Sabena

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