Archive – Banking & Fintech

Study says health system needs intensive care

This content was published on Oct 17, 2006 The Swiss interior ministry said it agreed with the findings by the Organisation for Economic Cooperation and Development (OECD) and the Geneva-based World Health Organization (WHO). In response to the leaked report on Tuesday the interior ministry noted that some of the proposed reforms were already underway, including increased competition and improved cooperation. A detailed…

Converium ditches problematic US arm

This content was published on Oct 17, 2006 The Zurich-based firm will sell its US business for $95 million (SFr120 million) to National Indemnity Company, part of the Berkshire Hathaway group, and pass on $200 million of debts. Converium issued a profit warning and had to lay off hundreds of workers after it “over-estimated” premium income to the tune of $500 million (SFr634…

Pupils slip into something more controversial

This content was published on Oct 17, 2006 The six-month pilot programme aims to measure how much a school uniform affects teaching, the pupil’s identity and spending habits, but the idea has already met solid resistance and been branded as “unSwiss”. In all, two classes of 14- to 15-year-olds at the state-run Leonhard school turned up in the smart-casual uniform, although the school…

Saurer board succumbs to Oerlikon’s charms

This content was published on Oct 17, 2006 Tuesday’s bid values Saurer at SFr1.96 billion and represents an increase of 45 per cent on the initial offer of SFr93.42 a share, made on September 6. “After reviewing this offer with Saurer’s senior management and its financial adviser Deutsche Bank, the board of directors comes to the conclusion that the offer should be regarded…

Solar pioneers set sights on New York

This content was published on Oct 16, 2006 The organisers say the purpose of the exclusively solar-powered trip is to raise public awareness of environmentally friendly forms of energy consumption. Foreign Minister Micheline Calmy-Rey sent the five-men crew on Sun21 on its way from the shores of the River Rhine on Monday. “You are pioneers and ambassadors of Switzerland and your boat represents…

Geneva rides global economic wave

This content was published on Oct 16, 2006 Surging global stock markets – the Swiss Market Index has reached record highs – have helped boost the sector’s fortunes, as has the growing influence of the city as a global centre for commodities trading. At its annual press conference on Monday, the Geneva Financial Center (GFC) painted a rosy picture for the city’s 22,752…

Swiss mobilise against world hunger

This content was published on Oct 14, 2006 Allied against Hunger was launched on Saturday in the Swiss capital, Bern, ahead of World Food Day on October 16. The alliance, which includes the aid organisations Bread for All and Caritas Switzerland plus the Swiss Farmers Union, says it aims to inject new impetus into efforts to cut the number of people who go…

Unfit pilots cause Swiss to cancel flights

This content was published on Oct 14, 2006 Swiss has enlisted rival airline Helvetic to help plug the gap after 64 short-haul flights were struck off at the end of last week. Some observers partially blame a pilot pay dispute for the problem. Swiss is now contacting passengers booked on the affected flights – which cover a number of European destinations – to…

Asbestos impasse “tragic for public health”

This content was published on Oct 14, 2006 A Swiss official told swissinfo he was disappointed but said it was not the end of the process. The International Ban Asbestos Secretariat disagreed and called the failure to act “truly tragic”. Chrysotile asbestos is a known human carcinogen which represents 94 per cent of world asbestos consumption. Parties to the Rotterdam Convention, an international…

Swiss Re fortifies its presence in Britain

This content was published on Oct 13, 2006 The Zurich-based reinsurance giant said it would acquire around 400,000 policies with total assets of around £8 billion, mostly savings and income retirement policies, adding scale to its Admin Re business in Britain. The deal comes 11 months after Swiss Re bought reinsurance operations from GE in a $7.4 billion (SFr9.4 billion) deal. Swiss Re…

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Study says health system needs intensive care

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Converium ditches problematic US arm

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Pupils slip into something more controversial

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Saurer board succumbs to Oerlikon’s charms

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Solar pioneers set sights on New York

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Geneva rides global economic wave

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Swiss mobilise against world hunger

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Unfit pilots cause Swiss to cancel flights

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Asbestos impasse “tragic for public health”

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Swiss Re fortifies its presence in Britain

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