Banking & Fintech

Profits shine at Richemont

This content was published on Jun 7, 2001 Releasing the figures on Thursday, the Swiss company, which owns a portfolio of leading brand names, also plans for a 100-for-one share split. The proposal follows changes to Swiss company law permitting lower nominal values per share. Sales at the company increased by 26 per cent to €3.6 billion, with jewellery sales rising 31 per…

Revealing secrets of the castle keeps

This content was published on Jun 6, 2001 Like the count, tourists first came to the Bernese Oberland in the first half of the 19th century, drawn by the paddle steamers, which still ply many of Switzerland’s lakes. Until that time the region was a relative backwater, only of interest to the nobility which controlled the meagre trade between the Oberland and the…

Swiss banks hold SFr3.72 trillion in assets

This content was published on Jun 6, 2001 The annual survey of 375 banks, released on Wednesday, includes all assets held in customer securities portfolios at both Swiss banks and Swiss affiliates of foreign banks. Not included are assets that Swiss banks manage for customers outside Switzerland. The SNB said that a total of SFr2.056 trillion was attributable to foreign account holders (up…

UBS expanding in Europe

This content was published on Jun 6, 2001 The move follows a decision to set up UBS (France), the Swiss group’s private bank in Paris, in June 1999. The French operation now employs 110 staff. As a next step UBS (France) has opened a branch in Lyon, which now employs eight people. “There are also plans to open offices in Bordeaux, Marseilles, Lille,…

New scandal deals another blow to CSFB

This content was published on Jun 6, 2001 The New Zealand Stock Exchange (NZSE) ruled that CSFB had bought shares in the New Zealand winemaker, Montana, on behalf of the Australian brewer, Lion Nathan, in a period when the brewing group was not allowed to increase its stake. CFSB, the investment banking arm of Credit Suisse, had argued that the trades were agreed…

Profits likely to rise at Conzzeta

This content was published on Jun 6, 2001 The mechanical engineering and consumer goods group said on Wednesday it boosted sales in the first four months by 17.5 per cent to SFr326.6 million ($185 million) and operating profit by 27.3 per cent to SFr25.2 million. Net profit edged up to SFr18.7 milllion from SFr17.7 million from the same period a year ago. This…

Government goes on offensive against smoking

This content was published on Jun 5, 2001 Announcing the five-year prevention programme, the director of the Federal Health Office, Thomas Zeltner, said Switzerland had lagged behind its European neighbours in promoting anti-smoking policies. Zeltner said Switzerland has the third highest number of smokers per capita in Europe after Hungary and Greece, with two million smokers in a population of less than eight…

Switzerland steps closer to freer trade with Mexico

This content was published on Jun 5, 2001 The new bilateral agreement, drawn-up within the framework of the European Free Trade Association, or EFTA, will ensure that Switzerland gets more access to Mexican markets, matching the current levels enjoyed by the United States and the European Union. Mexico is Switzerland’s fourth most important trade partner in the Americas, with current exports worth SFr1…

Swiss logistics group sells out to Thiel

This content was published on Jun 5, 2001 Thiel’s purchase of SES – active in health, pharmaceuticals, e-commerce and healthcare logistics – and some of its subsidiaries comes soon after its takeover of German groups, KVB and SKS, from Heidelberger Zement earlier this year. No price tag was put on this latest deal but sources close to the company say that Thiel could…

Swiss Post buys TNT’s international operation

This content was published on Jun 5, 2001 TNT gave no sale price for the deal, but said the unit had annual revenues of around €11 million (SFr16.7 million). The EU competition authorities said on March 14 that the unit must be sold off as a condition of approving Delta, TNT’s cross border business mail joint venture with Britain’s Cosignia and Singapore Post.…

Banking & Fintech

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Banking & Fintech

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Profits shine at Richemont

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Revealing secrets of the castle keeps

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Swiss banks hold SFr3.72 trillion in assets

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UBS expanding in Europe

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New scandal deals another blow to CSFB

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Profits likely to rise at Conzzeta

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Government goes on offensive against smoking

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Switzerland steps closer to freer trade with Mexico

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Swiss logistics group sells out to Thiel

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Swiss Post buys TNT’s international operation

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