Banking & Fintech

Pressure mounts on SAirGroup over huge losses

This content was published on Apr 12, 2001 A statement from the corporate governance consultancy, Deminor, questioned the origin of losses at the French airlines AOM/Air Liberté. It said investors wanted clarification of operations sanctioned by the SAirGroup and the other main shareholder, Marine Wendel, that may have unjustifiably weighed on the airlines’ results. One of Deminor’s questions relates to the policy of…

Schindler gets a lift from Hong Kong

This content was published on Apr 12, 2001 The contract will see Schindler provide 48 escalators for the Ma On Shan line with work due for completion by December 2004. In addition, the company will build another 20 escalators and six moving walkways for pedestrian links to the metro system. The contract has an initial value of SFr18 million ($10.5 million), with options…

SAirGroup boss issues rallying call to staff

This content was published on Apr 12, 2001 In the group’s internal publication, SAirGroup News, Corti said money was not the big motivating factor in his decision to accept the challenge of becoming chairman and chief executive officer of the group, which owns Swissair and Crossair. “When the old Swissair shines in a new light again and we can proudly look back on…

Dairy prices to rise, despite record farm profits

This content was published on Apr 11, 2001 Swiss milk producers said on Wednesday that a cut in agricultural subsidies meant consumers would have to pay more for their staples. The price of butter is expected to increase by 80 centimes a kilogramme, while Emmental cheese will go up by 60 centimes and Gruyère by 130 centimes. The head of the Swiss milk…

Rieter reports good results for 2000 but sees difficult times ahead

This content was published on Apr 11, 2001 The Winterthur-based supplier of systems and services to the textile, car and plastics industries saw sales increase to SFr2.93 billion last year and is to increase its shareholder dividend by 15 per cent. But the company had a less optimistic outlook for the current year. “In view of the more difficult market conditions, it will…

Profits soar at Swiss Life

This content was published on Apr 11, 2001 The company said on Wednesday that profits had exceeded expectations by far and it described 2000 an extraordinary year. It plans to increase its pre-tax dividend by SFr2 to SFr13 and to offer shareholders a special dividend of SFr5 before tax. Financial earnings rose to SFr10.4 billion with much of that coming from swapping shares…

Sales figures at Roche unlikely to help share price

This content was published on Apr 11, 2001 Sales of key pharmaceutical products were down two per cent at SFr4.49 billion ($2.64 billion), although first quarter sales overall were supported by the diagnostics division and were up four per cent at SFr7 billion. Concerns over weak drug sales at Roche have pushed the share price sharply lower in recent months – certificates have…

Swiss farms see rise in profits

This content was published on Apr 10, 2001 The average income of a farm reached SFr66,200 in 2000, despite the collapse of the meat industry last autumn following the second mad cow crisis. These results, based on a survey of 1,000 farms, are explained by good sales results for fruits and potatoes. The head of Switzerland’s Agriculture ministry, Manfred Bötsch, says that besides…

Swiss and Italian authorities grapple with traffic jams at Chiasso border

This content was published on Apr 10, 2001 The measure, announced this week by a government-appointed task force, is expected to ease kilometre-long tailbacks on Europe’s main north-south axis. It will remain in force until the A2 motorway has been cleared of commercial lorries. In the past month, hundreds of lorries have clogged the artery because of a bottleneck at the Chiasso customs…

Nokia signs deal with Orange

This content was published on Apr 10, 2001 The three-year agreement is worth SFr245 million ($144 million) and follows similar deals that Nokia has sealed in Australia, Britain, France, Germany and Italy. Nokia will build the core network as well as supplying a range of related support services. Orange, whose main shareholder is France Telecom, received one of four Swiss UMTS licences in…

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Banking & Fintech

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Pressure mounts on SAirGroup over huge losses

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Schindler gets a lift from Hong Kong

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SAirGroup boss issues rallying call to staff

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Dairy prices to rise, despite record farm profits

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Rieter reports good results for 2000 but sees difficult times ahead

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Profits soar at Swiss Life

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Sales figures at Roche unlikely to help share price

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Swiss farms see rise in profits

More

Swiss and Italian authorities grapple with traffic jams at Chiasso border

More

Nokia signs deal with Orange

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