Internal: Archive

Nestlé shows solid growth

This content was published on Aug 22, 2001 The world’s largest food concern saw its profit for the first half of the year expand to SFr3.152 billion ($1.9 billion) on sales of SFr41.2 billion. The company’s operating profit however, rose a more modest 0.4 per cent to SFr4.315 billion. The increase in sales beat easily beat analysts’ forecasts. The company attributed growth to…

Cabinet approves educational Internet plan

This content was published on Aug 22, 2001 The Economics Ministry said the government would contribute SFr100 million ($60 million) to the programme over the next five years. It envisions that 4,000 primary and secondary schools across the country can be offered free access to the web. The funding, which has not yet been approved by parliament, would go towards special training for…

British authorities fine PaineWebber

This content was published on Aug 22, 2001 The Financial Services Authority fined the company £350,000 (SFr840,000) and also ordered it to pay £10,000 in costs. It said the fine was the second biggest ever imposed. The FSA said PaineWebber had been severely reprimanded for failures between January 1, 1998 and December 15, 1999. The period in question was before UBS acquired the…

Profits tumble at Unaxis

This content was published on Aug 22, 2001 The company blamed the result on a SFr100 million goodwill write down for the ailing semiconductor maker, ESEC, in which it has a 57 per cent stake. But the economic slowdown also bit into profits. Unaxis had already warned earlier this year that its annual operating profit would be affected by lack of demand in…

Swiss Re sets up joint credit insurance firm

This content was published on Aug 22, 2001 The deal, announced on Wednesday, will create a new company – Gerling NCM – with a global market share of 25 per cent and expected gross premiums of SFr1.68 billion ($1 billion). Swiss Re, which has a 90 per cent stake in NCM, will receive an undisclosed amount in cash and shares from the transaction…

Performers to stride tightrope, eat fire in Vevey

This content was published on Aug 22, 2001 Performers from around the world have been invited to take part in the festival – now in its ninth year – in the picturesque town on Lake Geneva. The best acts will win the coveted Vevey “cobblestone” award. The golden cobblestone is worth SFr1,000, while the public honours its favourite with a SFr500 prize. The…

CSFB appoints new chief legal officer

This content was published on Aug 21, 2001 Lynch, who has been a partner at Davis Polk & Wardwell, a law firm conducting internal investigations for companies facing scrutiny by the Security and Exchange Commission (SEC), is the second senior lawyer to join the investment bank. Steven Volk, a former partner with US law firm Shearman and Sterling, joined as vice chairman in…

Swiss engineering industry suffers declining orders

This content was published on Aug 21, 2001 The industries’ umbrella organisation, SWISSMEM, said that while orders for this year’s first quarter had shown an “excellent” 10 per cent increase, the second quarter recorded a drop of 20.4 per cent. SWISSMEM said at a news conference in Bern on Tuesday that thanks to a reserve of existing orders, turnover for the first six…

Greenpeace slams Novartis over GM baby food

This content was published on Aug 21, 2001 Greenpeace said it had detected huge amounts of genetically modified soya in Gerber baby food in the Philippines. Gerber is a subsidiary of Novartis. It said tests conducted by an internationally licensed laboratory in Hong Kong had found that between 34 and 66 per cent of the food’s content had been genetically modified. “That’s a…

Ackermann in sights of German investigators

This content was published on Aug 21, 2001 Ackermann is now head of investment banking for Deutsche Bank and was a member of Mannesman’s supervisory board at the time of the takeover. German prosecutors are investigating whether there is enough evidence to proceed with charges after accusations that bonuses paid at the time were intended to influence the course of the takeover battle.…

Internal: Archive

Popular Stories

Most Discussed

Internal: Archive

More

Nestlé shows solid growth

More

Cabinet approves educational Internet plan

More

British authorities fine PaineWebber

More

Profits tumble at Unaxis

More

Swiss Re sets up joint credit insurance firm

More

Performers to stride tightrope, eat fire in Vevey

More

CSFB appoints new chief legal officer

More

Swiss engineering industry suffers declining orders

More

Greenpeace slams Novartis over GM baby food

More

Ackermann in sights of German investigators

Popular Stories

Most Discussed