Banking & Fintech

Families bury Swissair disaster victims

This content was published on Sep 1, 1999 The families of the 229 victims of Swissair Flight 111 were burying their dead Wednesday in private memorial services.The casks containing the unidentified remains of the passengers were buried at, Bayswater and Whalesback, two locations near Peggy’s Cove, which overlooks the crash site 10 kilometres out in the Atlantic Ocean. The coffins, which arrived in…

Ascom says first-half saw doubling of net income

This content was published on Aug 31, 1999 Swiss-based telecommunications giant Ascom on Tuesday released its figures for the first six months of the year and reported an operating result increase of 18 percent compared to the same period the previous year. The group’s after tax net income effectively doubled and reached SFr 39 million ($26 million), the company said. Ascom said the…

Swiss shoemaker Bally is bought by U.S.-based Texas Pacific

This content was published on Aug 30, 1999 Switzerland’s famous shoemaker Bally is bought from Oerlikon-Bührle by the United States-based Texas Pacific Group, a spokeswoman announced Monday. Texas Pacific, which has a reputation for tightening financial controls and turning around declining consumer brands, has agreed to invest a “substantial” amount in Bally to boost the company’s global brand strategy, said the spokeswoman. Bally’s…

Swisscom announces first-half figures

This content was published on Aug 27, 1999 Swisscom AG, Switzerland’s largest telecommunications company, reported a 6 percent rise in net profit to SFr1.2 billion ($800 million). Revenues in the company, which began selling shares on the stock market last year, rose to SFr5.2 billion ($3.5 billion), up from SFr5.12 billion (then $3.36 billion) in the corresponding period of 1998, a statement said.…

Sulzer Industries announces 2,000 job reductions to boost performance

This content was published on Aug 26, 1999 Sulzer Industries announced Thursday that it would shed 2,000 out of its 19,000 jobs by the end of 2001 as part of a realignment programme aimed at boosting competitiveness and profitability. Sulzer said it would focus on the oil, gas and chemical industries and related markets, where strong growth was planned, above all in the…

Novartis reports first-half profit up 5 percent

This content was published on Aug 26, 1999 (AP) – Swiss-based Pharmaceutical giant Novartis said Thursday its net profit for the first half of this year rose 5 percent on the same period in 1998. It reported earnings of SFr3.73 billion ($2.45 billion), up from SFr3.55 billion (then $2.4 billion) last year. The company credited higher operating income and “good” financial earnings for…

Swatch Group says first-half net profit up 8.6 percent

This content was published on Aug 26, 1999 The Swatch Group, which includes the Swatch, Omega and Longines brands, said Thursday that profits for the first half of the year were SFr139 million ($90.8 million), up by 8.6 percent over the same period last year. A communiqué from the group’s headquarters in Biel said sales were up by 6.7 percent to SFr1.617 billion…

Switzerland tightens regulations on genetically modified substances

This content was published on Aug 25, 1999 The Swiss government on Wednesday signed into force new regulations aimed at tightening control over the use of genetically modified substances and potentially hazardous organisms. Under the new regulations, research and test projects involving genetically modified substances, or organisms that can endanger people’s health, can only go ahead after the federal authorities have assessed the…

Swiss banks want swift solution to dormant account problem

This content was published on Aug 25, 1999

Swissair parent’s first-half profits drop 31.5 percent

This content was published on Aug 25, 1999 (AP) — Swissair parent SAirGroup said on Wednesday that its net profit for the first half of this year fell 31.5 percent to SFr87 million ($58 million) from the same period last year. The group, which also includes regional airline Crossair, noted “continuing steep declines in yields from flight operations.” Last year’s first-half net profit…

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Banking & Fintech

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Families bury Swissair disaster victims

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Ascom says first-half saw doubling of net income

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Swiss shoemaker Bally is bought by U.S.-based Texas Pacific

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Swisscom announces first-half figures

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Sulzer Industries announces 2,000 job reductions to boost performance

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Novartis reports first-half profit up 5 percent

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Swatch Group says first-half net profit up 8.6 percent

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Switzerland tightens regulations on genetically modified substances

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Swiss banks want swift solution to dormant account problem

More

Swissair parent’s first-half profits drop 31.5 percent

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