Archive – Banking & Fintech

Impounded Crossair jet returns to Switzerland

This content was published on Dec 16, 2001 The jet, impounded in the city of Nice on Thursday evening, was released late on Friday after four hours of negotiations in a French court. But it was not until Sunday morning that the aircraft, an Embraer 145, was finally given clearance to take off and fly back to Switzerland. Justice authorities in France had…

Job-hopping on the rise in Switzerland

This content was published on Dec 16, 2001 The phenomenon, known as fluctuation, has proved expensive for the economy. It is the subject of a recent study by the Labour Research Group at the University of St Gallen. An estimated 342,000 people changed jobs last year. Fluctuation levels are more prevalent in some areas of the economy than others. Above average rates are…

Swiss railways quietly celebrate century

This content was published on Dec 16, 2001 As the head of the Federal Railways, Benedikt Weibel puts it, when the 125th anniversary comes around in 2027, people should be able to look back and say that the previous 30 years saw the Swiss rail network transformed into a modern transport system capable of meeting the demands of the 21st century. That means…

Swiss national exhibition to accept Euro

This content was published on Dec 16, 2001 The announcement that visitors to the exhibition would be able to use Euro banknotes at exhibition sites comes only weeks after Expo.02 organisers said the Swiss Franc would be the only accepted currency. Laurent Paoliello, spokesman for the national exhibition, said Expo.02 “had to adapt” to the imminent arrival of the Euro, which is due…

Expo.02 slashes spending costs

This content was published on Dec 15, 2001 The Expo.02 committee formally stated its support of the cuts proposed by Nelly Wenger, the general director, on Tuesday. “We’ve reached the limits of the possible cost cuts,” said Wenger. “More cuts would threaten the balance of the cultural offerings.” Organisers have said the measures would reduce Expo.02’s over-expenditure from SFr72 million to SFr32 million,…

Stores hope for Christmas cheer

This content was published on Dec 15, 2001 Christmas is a crucial period for the retail market, with annual sales boosted by present buying and extra consumption of food and drink. But there have been fears this year that customer confidence might be hit by the slowing economy and by the US response to the attacks on New York and Washington. With fewer…

Monopoly gives way to upstart entrepreneurs

This content was published on Dec 15, 2001 Imagine a cross between Monopoly and Risk, and you are half way to understanding the concept of Start’Up. However, this is a game in its own right, and innovative enough to have won a silver medal at this year’s Geneva international Inventions Fair. The aim of the game is simple – create your own company,…

Switzerland freezes on coldest December day for 20 years

This content was published on Dec 15, 2001 On the coldest December day in Switzerland for 20 years, overnight temperatures into Friday plummeted to between minus 10 and minus 15 degrees. The temperature gauge at the top of the Jungfrau railway, at 3,454 metres above sea level, registered minus 30 degrees overnight: the lowest recorded temperature on the Jungfrau since records began. With…

France releases Crossair passenger jet

This content was published on Dec 14, 2001 The release, which was decided by the judge after more than four hours of negotiations with Crossair lawyers, was made public late on Friday by the Swiss regional carrier. Crossair rejected the judge’s decision to seize the aircraft, saying it was “illegal”. The costs provoked by the impoundment have not yet been calculated. The arrest…

Swiss economy on knife-edge

This content was published on Dec 14, 2001 The Swiss economic story this year has been one of slowdown with revised downward forecasts for growth coming thick and fast. The situation is in marked contrast to a year ago, when the Swiss economy experienced almost miraculous growth of three per cent, having been one of Western Europe’s greatest underachievers during the 1990s. Unemployment…

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