Cluster: Archive

Equity losses push Swiss Re into the red

This content was published on Feb 26, 2003 The world’s second-largest reinsurer said it would be cutting its dividend for the first time in nearly a century. Swiss Re said the loss was due to heavy write-downs on its equity portfolio. The value of its stock investments fell by SFr3.4 billion – a figure five times higher than in 2001. It also booked…

Roche posts record loss

This content was published on Feb 26, 2003 A series of heavy one-off charges relating to its vitamins operations, lower financial income and the strong Swiss franc dragged down the company’s results. The loss, the worst in Roche’s 107-year history, compares with a 2001 profit of SFr3.7 billion. But Roche, which is notorious for its complicated results, said performance had been strong, particularly…

Clariant to seek fresh funds

This content was published on Feb 25, 2003 The company also warned it would slash up to 1,700 jobs as part of cost-cutting measures, just two weeks after it posted a net loss of SFr648 million for 2002. Clariant’s chief executive, Reinhard Handte, said on Tuesday that a capital increase would make sense, although no decision has been made. Beat Alpiger, an analyst…

Dark day for Swiss business

This content was published on Feb 25, 2003 Thousands of employees are facing the axe under cost cutting plans announced by Credit Suisse, the national airline, Swiss, and Clariant, the specialty chemicals group. A raft of poor company results hammered the Swiss Market Index of leading shares, which closed just 94 points above the psychologically important 4,000 mark. It is now at its…

Swiss cuts itself down to size

This content was published on Feb 25, 2003 Analysts have long said the airline is too big for its home market, and that cuts are needed if it is to avoid the same fate as the collapsed Swissair. Announcing the cuts in Zurich, chief executive André Dosé said they were in response to weak markets – a problem afflicting the entire aviation industry.…

Clariant cuts jobs and sheds units

This content was published on Feb 25, 2003 The news comes just two weeks after Clariant posted a net loss of SFr648 million ($478 million) for 2002 – the second consecutive annual loss. Clariant spokesman Patrick Kaiser said on Tuesday that the company would “reduce its workforce by between four and six per cent in the next two years”. Clariant currently employs 28,000…

Credit Suisse to slash jobs after record loss

This content was published on Feb 25, 2003 CS also announced that it would be shedding 1,250 jobs – 950 at its financial services division and 350 at its Winterthur insurance arm. “It’s a pretty tough picture right now,” CS chief financial officer, Philip Ryan, told swissinfo. “It will remain that way until we get some clarity on the geopolitical situation and how…

Swiss urged to shun high-emission cars

This content was published on Feb 24, 2003 Car dealers are now required to rank new cars according to their fuel efficiency, as part of efforts to meet the country’s commitments to the Kyoto Protocol. Moritz Leuenberger, the Swiss transport minister, on Monday said the measure was designed to help Switzerland reduce its annual carbon dioxide (CO2) emissions. Under the Kyoto Protocol on…

Swiss-German nanotech venture capital fund suffers setback

This content was published on Feb 24, 2003 It was “sponsoring” the Zurich-based team led by Berndt Samsinger in an effort to raise a new €100 million venture capital nanotechnology fund. The fund would have targeted makers of instruments used to measure nanosized structures, biotechnology, and advanced materials that could be used for special coatings and thin films. Despite the retreat by the…

The future is bright – but not for all

This content was published on Feb 23, 2003 Some 200 handed in a petition to the Federal Communications Office on Monday to demand better working conditions and adequate redundancy payoffs. Protesters called off a five-day strike on Monday to give the authorities time to react to their demands. They have threatened to walk out again on Friday, if their demands are not acted…

Cluster: Archive

Popular Stories

Most Discussed

Cluster: Archive

More

Equity losses push Swiss Re into the red

More

Roche posts record loss

More

Clariant to seek fresh funds

More

Dark day for Swiss business

More

Swiss cuts itself down to size

More

Clariant cuts jobs and sheds units

More

Credit Suisse to slash jobs after record loss

More

Swiss urged to shun high-emission cars

More

Swiss-German nanotech venture capital fund suffers setback

More

The future is bright – but not for all

Popular Stories

Most Discussed