Archive – Banking & Fintech

Mühlemann defends insurance business

This content was published on Jul 5, 2002 Mühlemann made the comments in a newspaper interview two days after he announced that he would step down as chairman next year. He has been facing increasing pressure to given up his dual mandate as chairman and chief executive, and will remain in the latter role. Mühlemann’s decision to diversify into insurance has been heavily…

Swiss keep faith in state pension scheme

This content was published on Jul 5, 2002 Nearly three in four people questioned said they were confident they would receive a pension from the state scheme when they reach retirement age – currently 65 for men and 64 for women. The figure is slightly higher in the French-speaking part of the country, according to the finance ministry, which commissioned the survey. Compared…

Pressure mounts on Swiss air traffic controllers over air crash

This content was published on Jul 5, 2002 As Swiss and German prosecutors launched separate investigations into the causes of Monday’s mid-air collision between two aircraft, rescue crews continued to search for bodies of the 71 victims. The causes of the crash between a Russian Bashkirian Airlines Tupolev carrying over 50 children and a DHL Boeing 757 cargo plane remain unknown. However, German…

Government accused of bowing to pressure on pensions

This content was published on Jul 5, 2002 The government’s surprise move is being seen as a reaction to weak financial markets and low interest rates. But trade unions say the government has simply bowed to pressure from Switzerland’s powerful insurance companies. Most big firms in Switzerland place their pension funds in the hands of large insurance companies, which until now have been…

Prosecutors launch probe of air disaster

This content was published on Jul 4, 2002 The Bülach prosecutor’s office in canton Zurich announced on Thursday a probe for manslaughter and negligent disruption of public transport. The investigation will try to find out if Skyguide air traffic controllers acted correctly in the moments leading up to the crash between a Russian airliner and a DHL cargo jet. “The probe will carefully…

Mühlemann resignation fails to stir markets

This content was published on Jul 4, 2002 Mühlemann – who will stay on as the group’s CEO – has been under increasing pressure to resign after losses and problems at the investment bank Credit Suisse First Boston and the group’s insurance subsidiary, Winterthur. Christoph Ritschard, an analyst at Zurich Cantonal Bank, said he welcomed Mühlemann’s decision to step down as chairman. “For…

Swiss firms confident downturn is easing

This content was published on Jul 4, 2002 A survey of 300 companies, conducted in June, showed most firms expect to increase production in the coming months after having scaled back their activities in the first and second quarters. Pharmaceuticals, watchmaking and paper moved back into positive growth in the second quarter 2002 rejoining the food sector – the only one which has…

Government orders freeze on private practices

This content was published on Jul 4, 2002 The interior minister, Ruth Dreifuss, who is also in charge of health matters, said the restriction would be put in place immediately and be valid for a maximum period of three years. Announcing the measure on Wednesday, Dreifuss said the steep rise in the number of applications by medical doctors and therapists to open private…

Mühlemann to step down as CS chairman

This content was published on Jul 4, 2002 Mühlemann, who had been chairman since May 2000, has been under increasing pressure to step down after losses and problems at the investment bank Credit Suisse First Boston and at its insurance subsidiary, Winterthur. Questions have increasingly been raised about the group strategy of pursuing both banking and insurance. Group results have fallen far behind…

Swiss air traffic systems found wanting

This content was published on Jul 4, 2002 A report, released last week, called for improvements to bring Swiss radar into line with standards set by Eurocontrol, the European agency in charge of tracking aircraft in flight. The report, by the Swiss Aircraft Accident Investigation Bureau, is adding to the pressure on the air traffic control body, Skyguide, which has admitted its systems…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Mühlemann defends insurance business

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Swiss keep faith in state pension scheme

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Pressure mounts on Swiss air traffic controllers over air crash

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Government accused of bowing to pressure on pensions

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Prosecutors launch probe of air disaster

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Mühlemann resignation fails to stir markets

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Swiss firms confident downturn is easing

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Government orders freeze on private practices

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Mühlemann to step down as CS chairman

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Swiss air traffic systems found wanting

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