Banking & Fintech

Health care and electricity come under the spotlight

This content was published on Feb 16, 2001 In its annual report published on Friday, the Commission, accuses market players in the health sector of trying to limit competition by making cartel-like agreements among themselves. It feels there is no incentive for competition in a situation in which health care schemes have a contractual obligation with doctors and hospitals. The Commission also makes…

Credit Suisse sells large multinational insurance business

This content was published on Feb 16, 2001 The business – Winterthur International – is being bought by the Bermuda-based financial group XL Capital for $600 million (SFr1 billion). A statement from Credit Suisse headquarters in Zurich said that after the sale of its active reinsurance business in 1998, this latest move would help Winterthur Insurance in its strategic efforts. These are now…

Novartis posts record profits

This content was published on Feb 15, 2001 At the presentation of its annual financial results in Basel, the company said sales in 2000 had risen by 10 per cent to reach SFr35.8 billion. The chairman and chief executive officer of Novartis, Daniel Vassella described the results as “excellent”. “As growth accelerated, sales, net income and free cash flow before acquisitions rose to…

Car sales drop by seven per cent

This content was published on Feb 15, 2001 Thursday’s report from the industry’s professional body warns that profits will be severely hit by reduced operating margins. The worsening situation is blamed on the saturation of the market. Dealers are advised to cut prices to increase sales. The industry’s association also said that carmakers and importers were demanding more investment from dealers in the…

UBS announces share split

This content was published on Feb 15, 2001 The bank is planning a three for one share split after changes in Swiss law that will ease restrictions on minimum par value. At the moment, the group’s shares have a minimum par value of SFr10 ($6). When the new rules become effective, UBS will make a payout to reduce the value of its shares…

Swiss bank “drops” Clinton from its invitation list

This content was published on Feb 15, 2001 Unconfirmed reports say UBS Warburg of London decided it would be inappropriate for Clinton to give a speech at an investment banking conference in New York. The New York Times quoted people involved in the negotiations as saying the large fees involved – Clinton charges $100,000 a speech – could create an atmosphere of impropriety…

Andress’s “Dr No” bikini goes under the hammer

This content was published on Feb 15, 2001 On Wednesday, the white bikini worn by the Bern-born actress in the 1962 James Bond film “Dr No” was sold at Christie’s auction house in London. “Christie’s kept on asking me if I was interested in selling it,” the 64-year-old actress told swissinfo. “Finally last year I found it in a girlfriend’s attic in Virginia,…

SAirGroup’s French subsidiary selects new president

This content was published on Feb 14, 2001 Rochet officially takes on the position at the helm of AOM, Air Liberté and Air Littoral on Thursday. Moritz Suter, the newly appointed head of SAirGroup, the parent company of the Swiss national carrier, Swissair, nominated Rochet on the grounds of his capabilities as “an airline specialist with a solid background”. Rochet, who replaces Paul…

SAirGroup postpones results

This content was published on Feb 14, 2001 The date for the annual news conference had been set for March 12, but has been put back to April 2. The company said the decision to postpone the release of results was due to management changes. The group’s chief executive, Philippe Bruggisser, left in January when the group announced a major shift in strategy.…

Gretag Imaging cuts 50 jobs

This content was published on Feb 14, 2001 The announcement, on Wednesday, came after a company spokesman acknowledged media reports that the company is facing liquidity problems. “Gretag has a slightly tight liquidity situation but it is not dramatic,” said Thomas Harder. The group has had to drastically revise growth forecasts recently and investment outlays have also weighed on the company. In addition,…

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Banking & Fintech

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Health care and electricity come under the spotlight

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Credit Suisse sells large multinational insurance business

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Novartis posts record profits

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Car sales drop by seven per cent

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UBS announces share split

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Swiss bank “drops” Clinton from its invitation list

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Andress’s “Dr No” bikini goes under the hammer

More

SAirGroup’s French subsidiary selects new president

More

SAirGroup postpones results

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Gretag Imaging cuts 50 jobs

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