Banking & Fintech

Roche strengthens its position as leading supplier of chemical therapies

This content was published on Aug 31, 2000 In a statement on Thursday, Roche said Kytril provided relief to cancer patients suffering from the severe and debilitating nausea and vomiting associated with chemotherapy. SB will, at the same time, acquire from Roche exclusive rights in the United States and Canada for Coreg, a drug for congestive heart failure and hypertension. Roche will pay…

Out & About in Switzerland: The spirit of Chevrolet returns

This content was published on Aug 31, 2000 Legend has it that a chance meeting with a member of the wealthy American Vanderbilt family drew Chevrolet cross the Atlantic. It was 1896 and Vanderbilt’s car broke down in the French town of Beaune, where the young Swiss worked as a mechanic in a bicycle shop. Impressed by Chevrolet’s ability to fix his car,…

Credit Suisse sees healthy profit growth

This content was published on Aug 31, 2000 The figures, released on Thursday, come a day after the group announced its acquisition of United States investment bank and financial services provider, Donaldson, Lufkin and Jenrette (DLJ) for SFr19.6 billion. A statement from group headquarters in Zurich said the results were characterised by “strong performance and progress” in all business units. The strongest growth…

Novartis buys herpes drugs

This content was published on Aug 31, 2000 The deal concerns the antiviral products Famvir and Vectavir/Denavir. A Novartis statement on Thursday said SB was selling off the treatments in response to antitrust concerns over its plans to merge with Glaxo Wellcome. Thomas Ebeling, chief executive officer of Novartis Pharma said: “Famvir and Vectavir/Denavir will broaden our portfolio, particularly in the United States…

Brewer slips into the red

This content was published on Aug 31, 2000 A statement on Thursday from company headquarters in Rheinfelden said group results had been saddled with one-off exceptional expenses of some SFr8 million for the introduction of a new computer system and “forward-looking schemes for e-commerce”. There are no comparable figures for the same period last year because the company has changed its financial year…

Credit Suisse takes over US broker

This content was published on Aug 30, 2000 Credit Suisse announced on Wednesday that it would merge DLJ with its investment-banking arm, Credit Suisse First Boston (CFSB). It added that the DLJ board had already approved the offer. Credit Suisse believes the deal is a strategic move to consolidate and cement its position as a major player in investment banking. Credit Suisse spokesman,…

Government steps up battle against illegal working

This content was published on Aug 30, 2000 In a statement on Wednesday, the cabinet said illegal working was unacceptable for industrial, legal and ethical reasons, and needed to be tackled head on. It said the practice threatened pay levels, employee protection schemes and the social welfare state, adding that people who respected the tax and welfare laws should not be made to…

Profits fall at Swiss Post

This content was published on Aug 30, 2000 In a statement, the Post Office described the result as “unsatisfactory”. Turnover, however, rose five per cent to reach SFr2.9 billion. Sales were helped by increased demand for first class post, express mail and payment services. Swiss Post said profits were hit by the employment of 600 extra staff, as well as the modernisation of…

Credit Suisse to buy US investment broker

This content was published on Aug 30, 2000 The bank plans to merge DLJ with its investment-banking arm, Credit Suisse First Boston. Shares in DLJ, which is 70 per cent owned by French insurance giant, Axa, soared on the New York Stock Exchange on Tuesday as rumours of the sale emerged. Shares rose $15 to reach a yearly high of $81. Credit Suisse…

Federal budget set to return to the black

This content was published on Aug 30, 2000 The cabinet agreed next year’s budget at a meeting on Wednesday. It also adopted the financial plan for 2002 to 2004. Presenting the figures at a news conference in Berne, the finance minister, Kaspar Villiger, said the improvement in the federal finances would be brought about partly because of improved economic conditions and partly because…

Banking & Fintech

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Banking & Fintech

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Roche strengthens its position as leading supplier of chemical therapies

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Out & About in Switzerland: The spirit of Chevrolet returns

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Credit Suisse sees healthy profit growth

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Novartis buys herpes drugs

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Brewer slips into the red

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Credit Suisse takes over US broker

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Government steps up battle against illegal working

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Profits fall at Swiss Post

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Credit Suisse to buy US investment broker

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Federal budget set to return to the black

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