Archive – Banking & Fintech

Press shows little joy over Swiss takeover

This content was published on Mar 23, 2005 They say there was no real alternative for the struggling Swiss International Airlines, and do not spare criticism of past mistakes. Zurich’s Tages-Anzeiger wrote that the sale to Lufthansa was the only viable option. “Managers and board directors are responsible for the end of Swiss civil aviation, but also Swiss voters with their ‘no’ to…

“Cheap” is tourism industry’s new buzzword

This content was published on Mar 22, 2005 Tourism officials claim the key to continued growth is to make the country more affordable, but they say they cannot move mountains. Franz Steinegger, president of the Swiss Tourism Association, reminded parliamentarians at a lobbying event in Bern at the beginning of this month that the industry cannot – like other sectors of the economy…

Unaxis plunges deep into the red

This content was published on Mar 22, 2005 The company said it made an operating loss of SFr366 million, in line with market and its own expectations. Unaxis has been hit by high production costs and unfavourable exchange rates. The maker of machines used to produce semiconductors, flat-screen displays and DVD coating equipment, has gone through turbulent times, making several management changes designed…

Lufthansa set to announce takeover of Swiss

This content was published on Mar 22, 2005 The Swiss government – the biggest shareholder of Swiss – decided on Lufthansa’s proposal on Tuesday, but said it would not make its decision public until other shareholders had discussed the offer. The cabinet discussed the deal after a key parliamentary committee on Monday said it was in the goverment’s power to approve such an…

Swiss finds security in Frankfurt

This content was published on Mar 22, 2005 It may be cold comfort for those who remember the glory days of Swissair, but at least Swiss has secured a future, albeit one that will be ultimately decided in Frankfurt. Just a short hop across the Alps, Italy’s Alitalia is waging an increasingly desperate battle for survival, against the background of a steadily growing…

Lufthansa takes over Swiss

This content was published on Mar 22, 2005 The Swiss government – the biggest shareholder of Swiss – decided earlier on Tuesday to support the buyout. In a statement, Lufthansa said both companies’ boards and major shareholders had approved the deal. Lufthansa’s chairman and CEO, Wolfgang Mayrhuber, and Swiss CEO, Christoph Franz, will sign the deal in Zurich at 8pm local time. “The…

Lufthansa takes over Swiss

This content was published on Mar 22, 2005 The Swiss government – the biggest shareholder of Swiss – said earlier on Tuesday that it supported the buyout. In a statement, Lufthansa said both companies’ boards and major shareholders had approved the deal worth up to €310 million ($409 million). “The supervisory board of Deutsche Lufthansa and the board of directors of Swiss International…

Swiss use Expo to update image in Japan

This content was published on Mar 22, 2005 In an interview with swissinfo, Philippe Neeser also warns that his country cannot afford to take economic ties with the Japanese for granted. A lawyer by trade, Neeser has lived in Japan for more than three decades. He has held several key positions at Swiss specialty chemicals firm, Ciba, and spent three years as president…

Health costs continue to rise

This content was published on Mar 21, 2005 The Federal Statistics Office blamed the rising costs on all key players in the healthcare sector, as well as the ageing population. The health bill for 2003 stood at SFr49.9 billion ($42.4 billion) – an increase of 4.1 per cent on the previous year. The rise confirmed a trend over the past few years, the…

ABB clinches surprise asbestos deal

This content was published on Mar 21, 2005 The company said on Monday that it had reached a comprehensive agreement with all parties on a financial settlement that would account for all outstanding claims. ABB said that, under the new arrangement, it would pay an additional $232 million (SFr272 million) to a special trust fund for asbestos-related liabilities, over and above the $1.2…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Press shows little joy over Swiss takeover

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“Cheap” is tourism industry’s new buzzword

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Unaxis plunges deep into the red

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Lufthansa set to announce takeover of Swiss

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Swiss finds security in Frankfurt

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Lufthansa takes over Swiss

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Lufthansa takes over Swiss

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Swiss use Expo to update image in Japan

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Health costs continue to rise

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ABB clinches surprise asbestos deal

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