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Swiss banks reject links between investment and apartheid

This content was published on Nov 12, 2002 Credit Suisse and UBS are among 20 companies being sued for their dealings with the country’s former apartheid regime. United States lawyer Michael Hausfeld filed the lawsuit in New York on Monday on behalf of thousands of victims of apartheid. As well as Credit Suisse and UBS, firms such as the oil companies Exxon and…

UBS profit down amid stormy markets

This content was published on Nov 12, 2002 The bank also announced it was scrapping the PaineWebber and Warburg names and from now would just have one brand – UBS. The figure was well above analysts’ estimates of a profit of around SFr812 million but almost 30 per cent down on the second quarter. The bank said in a statement that the third-quarter…

CSEM able to mass-produce micro-optics

This content was published on Nov 11, 2002 It developed the capability and know-how in a European Union-funded set of projects. The CSEM announced it has honed its production capacity and skills for making micro-optics from Ormocer, the name for a family of organic-inorganic plastics invented and trademarked by the Fraunhofer Institute for Silicates in Germany. Ormocer is targeted to be used in…

Grim news expected from Credit Suisse

This content was published on Nov 11, 2002 Kielholz, aged 51, will take over as chairman from former Swiss Re CEO Lukas Mühlemann, who announced his resignation from CS in September. Credit Suisse is forecast to show a net loss of close to SFr2 billion ($1.39 billion), up from a SFr579 million loss in the second quarter. According to the “NZZ am Sonntag”…

Coomber takes over from Kielholz at Swiss Re

This content was published on Nov 11, 2002 Coomber will take up the position on January 1, replacing Walter Kielholz, who is leaving to become the new chairman of the Credit Suisse Group. Coomber, who has been with Swiss Re for 30 years, takes over as the company tries to rebound from last year’s SFr165 million ($114.35 million) loss. The loss, which was…

Swiss NGOs declare Florence summit a success

This content was published on Nov 10, 2002 They said the five days of debate had enabled NGOs, unions and political parties to coordinate European efforts to fight globalisation. Alessandro Pelizzari of Attac Switzerland, which helped organise seminars on various issues, described the event as “a huge success”. His view was echoed by Bruno Gurtner of the Swiss coalition of development organisations, who…

Swiss teens hooked on “alcopops”

This content was published on Nov 10, 2002 Switzerland, like many western countries, appears to have an unquenchable thirst for so-called designer drinks. Concerns have been raised that the colourful concoctions are particularly damaging to young consumers, who are drinking to excess in ever-greater numbers. The cleverly-marketed beverages – usually a mix of spirits and soft drinks or fruit juice – have struck…

Tower restoration revives shattered Gondo

This content was published on Nov 10, 2002 A charitable foundation plans to reconstruct Gondo’s Stockalper Tower and in doing so boost the economic fortunes of the village. In October 2000, Gondo was sliced in two by a 40-metre-wide swathe of mud and rocks loosened by three days of torrential rain. The heart of the village, which lies on the Swiss-Italian border, was…

Nutrition set to nurture Nestlé growth

This content was published on Nov 9, 2002 In an interview with swissinfo, chief executive Peter Brabeck explains the strategy that has made Nestlé a financial success story that other firms can but envy. There was some disappointment at the Swiss multinational’s figures for the first nine months of 2002, with real internal growth slowing down. But Brabeck is confident that Nestlé will…

Swiss ant researcher wins top science prize

This content was published on Nov 8, 2002 Wehner received a SFr100,000 ($68,000) prize at a ceremony in Bern on Friday for his work on the behaviour of the Cataglyphis ant of the Sahara desert. The prize is awarded annually for a “discovery or study” that has made an outstanding contribution to Swiss science. It was founded by a wealthy French lawyer, Marcel…

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Swiss banks reject links between investment and apartheid

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UBS profit down amid stormy markets

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CSEM able to mass-produce micro-optics

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Grim news expected from Credit Suisse

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Coomber takes over from Kielholz at Swiss Re

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Swiss NGOs declare Florence summit a success

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Swiss teens hooked on “alcopops”

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Tower restoration revives shattered Gondo

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Nutrition set to nurture Nestlé growth

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Swiss ant researcher wins top science prize

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