Banking & Fintech

SAirGroup crisis not the only likely headline

This content was published on Apr 20, 2001 The troubled aviation conglomerate, the parent company of Swissair, promised its shareholders a fresh start at the beginning of the month after unveiling losses of almost SFr2.9 billion ($1.7 billion) for last year. The new chairman, Mario Corti, has already announced some measures such as halting subsidies to its French subsidiary, Air Littoral, in a…

Pressure mounts on US to honour Kyoto Protocol

This content was published on Apr 20, 2001 Officials from most of the 41 countries attending the meeting said they intended to press ahead with implementing the Kyoto Protocol, despite President Bush’s rejection of the treaty last month. David Syz, head of the State Secretariat for Economic Affairs (Seco), said the Swiss delegation was aiming to use the meeting to address US concerns…

Central Bank boss says economy solid

This content was published on Apr 20, 2001 Addressing the Central Bank’s shareholders, SNB President Jean-Pierre Roth said the outlook for the domestic economy continued to be positive, with strong domestic demand likely to make up for most of the expected downturn in foreign demand. “Still, the foreign environment harbours substantial economic risks,” Roth told the bank’s general meeting. He went on to…

Demand boosts sales at Phonak

This content was published on Apr 20, 2001 The results came in better than the canton-Zurich based company had predicted, although analysts at Bank Sarasin had forecast sales of SFr465 million. Phonak said sales in the second half of its business year benefited from new acquisitions coming in at SFr251 million, 21 per cent higher than in the first half of its financial…

Power suppliers connect ahead of liberalisation

This content was published on Apr 19, 2001 Under the company name of “Youtility”, the partners want to sell electricity under the brand name “1to1 energy”. The aim of the cooperation is to develop new products and to optimise the quality of service before the official opening of the electricity market. “The aim is to give customers, both small and large, the possibility…

Indian authorities bar CSFB from doing new business

This content was published on Apr 19, 2001 The other nine companies belong to the Nirmal Bang Group and the First Global Finance Group, as well as one sub-broker. SEBI said it took the action because these intermediaries were involved in price manipulation and their actions had harmed investors. The financial market watchdog issued the order after concluding a preliminary investigation into allegations…

Special audit demanded of SAirGroup

This content was published on Apr 19, 2001 The government and the cantonal authority, which each hold a three per cent stake in the airline group, are both considering taking legal action against the company’s board of directors, all of whom, bar one, announced last month that they would be stepping down. The canton said it would vote to withhold the so-called legal…

Sulzer shareholders vote to spin off Medica

This content was published on Apr 19, 2001 Shares in the group were also suspended at the start of trading on the Swiss bourse while the group’s annual general meeting takes place in Winterthur. Shareholders there are set to decide on the 167-year-old company’s fate, voting to either support current management or cast their lot with Rene Braginsky’s InCentive Capital group, which has…

Sulzer shares suspended while AGM underway

This content was published on Apr 19, 2001 Shareholders are set to decide on the 167-year-old company’s fate, voting to either support current management or cast their lot with Braginsky’s InCentive Capital group, which has mounted the hostile bid worth $1.5 billion ($878 million) for Sulzer’s traditional engineering operations. InCentive wants to replace the present board with its own team of directors, led…

Sika Finance lifts profits

This content was published on Apr 19, 2001 The Swiss-based company, which makes chemicals for the construction industry along with industrial materials for the building sector, said it was raising its dividend to 23 per cent from 21 per cent of its nominal share value. Bearer shares carry a nominal value of SFr60 and registered shares SFr10. “Thanks to our worldwide market presence,…

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Banking & Fintech

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SAirGroup crisis not the only likely headline

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Pressure mounts on US to honour Kyoto Protocol

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Central Bank boss says economy solid

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Demand boosts sales at Phonak

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Power suppliers connect ahead of liberalisation

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Indian authorities bar CSFB from doing new business

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Special audit demanded of SAirGroup

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Sulzer shareholders vote to spin off Medica

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Sulzer shares suspended while AGM underway

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Sika Finance lifts profits

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