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Air crash investigators to publish final report

This content was published on Mar 26, 2003 Working for more than four years, Canadian investigators have spent over 50 million Canadian dollars (SFr47 million) in their effort to discover the likely causes of the accident. All 229 people on board Swissair Flight 111 were killed when their Boeing MD-11 aircraft crashed off the coast of Nova Scotia, an hour and a quarter…

Pilot’s widow rebuilds life after tragedy

This content was published on Mar 26, 2003 A year after the crash, which killed all 229 people on board, Zimmermann conquered her fears by returning to her job at 35,000 feet. It took over four and a half years to draw conclusions about what led the MD-11 to plunge into St Margaret’s bay, near Peggy’s Cove in Halifax. But for the families…

Ascom sees its loss narrow in 2002

This content was published on Mar 26, 2003 The figure is a 30 per cent improvement on the previous year’s SFr396 million loss, and the Bern-based company says it plans to further reduce its losses in 2003. At a news conference in Zurich, Ascom said its net debt had also shrunk last year by 58 per cent to SFr264 million. The results are…

Ascom spin-off makes “Swiss quality” its brand

This content was published on Mar 26, 2003 The firm is a spin-off of the Swiss telecommunications equipment vendor, Ascom. The Zuchwil-based firm was founded three years ago, employs 23 people, is profitable, and has carriers, such as Italy’s Vodafone Omnitel, and equipment vendors, such as Nokia as customers. It is a classic spin-off story – a team of disgruntled employees set up…

Virtual classroom discusses war and peace

This content was published on Mar 26, 2003 The “Virtual Classroom” is part of the “swisspeaks” festival in New York, designed to improve relations between Switzerland and the United States. Lionel Diaz, a student at the Brooklyn high school of telecommunications, posts a question on the virtual bulletin board. He wants to know if Swiss students can buy guns and knives as openly…

Profit collapses at Swisscom

This content was published on Mar 26, 2003 The figure was substantially down on the previous year’s SFr4.96 billion profit, which was boosted by more than SFr4.4 billion from sell-offs. Earnings before interest, taxes, depreciation and amortisation (EBITDA) came in at SFr4.41 billion ($3.21 billion) for 2002, showing virtually no gain on the previous year. The figure fell short of the SFr4.45 billion…

Limited ban on arms exports to remain

This content was published on Mar 25, 2003 Three political parties and the majority of Swiss say weapons shipments to conflict countries must stop if Switzerland is to remain neutral. The Social Democrats, Christian Democrats and the Greens had hoped to persuade a foreign affairs committee to ask the government to review its position and take a harder line. But they were forced…

Unaxis posts loss after difficult year

This content was published on Mar 25, 2003 The Pfäffikon-based company, which supplies equipment for the chip-making industry, blamed a slump in the information technology business for the result. Releasing its figures on Tuesday, Unaxis said sales in 2002 were down 21 per cent at SFr1.43 billion. Analysts had been expecting a loss of SFr108 million. “Unaxis was faced with an extremely challenging…

Swiss plans capital cut as slump continues

This content was published on Mar 25, 2003 The company’s CEO, Andé Dosé, told investors at the company’s annual meeting that 2003 could be the worst in aviation history. The company stressed that it would not break even this year as the Iraq crisis dampened demand for air travel. Swiss added it was impossible to forecast results for the current year due to…

Stocks tumble as Iraqi resistance stiffens

This content was published on Mar 25, 2003 The loss is in line with global stocks which experienced their worst day in six months on Monday following a weekend of downbeat war news. The 27-share SMI closed at 4,230.7 points on Monday, with all stocks in the red. The index continued its downward spiral in early trading on Tuesday, but recovered slightly to…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Air crash investigators to publish final report

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Pilot’s widow rebuilds life after tragedy

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Ascom sees its loss narrow in 2002

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Ascom spin-off makes “Swiss quality” its brand

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Virtual classroom discusses war and peace

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Profit collapses at Swisscom

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Limited ban on arms exports to remain

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Unaxis posts loss after difficult year

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Swiss plans capital cut as slump continues

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Stocks tumble as Iraqi resistance stiffens

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