Banking & Fintech

Tracing the language border on a map

This content was published on Jun 7, 2002 Geography lessons in Swiss schools are likely to become more multifaceted with a new set of booklets, maps, games and an interactive computer disc. The publishers hope school children will learn the way around Switzerland and be able to decipher the various names, scales, lines and symbols on a map. Part of the multimedia package…

Profits fears hammer Swiss tech stocks

This content was published on Jun 7, 2002 Friday morning trading on the Swiss stock exchange saw several high-tech firms hammered, including stocks of the troubled telecommunications firm, Ascom, which hit a record low. Having already shed two-thirds of their value since the start of the year, stocks in the Bern-based firm were pushed down a further 15 per cent to SFr10.80 ($6.94).…

Swiss farmers face eviction in Zimbabwe

This content was published on Jun 7, 2002 In the latest development in the bitter land dispute, which began two years ago, the government in Harare seized the title deeds to 53 Swiss-owned properties. According to the Swiss foreign ministry, 28 of those 53 farms are now occupied by veterans of Zimbabwe’s war of independence. “We have 13 Swiss nationals… affected by the…

Tornos cuts jobs and seeks rescue credit

This content was published on Jun 7, 2002 Struggling with severe liquidity problems, the Moutier-based company detailed the job cuts alongside a planned financial-rescue package, after declaring a net loss of SFr28.4 million ($18.22 million) for the first four months of 2002. Tornos says it is negotiating a SFr10 million cash injection, or bridging loan, and has asked creditors to “substantially” reduce their…

e-payment innovator acquired by Telekurs

This content was published on Jun 7, 2002 Fifteen year-old 3C employs 160 people and has a turnover of SFr40 million. Its current CEO, Ruedi Denier, will continue to run the company as a division of the larger firm. No information was provided by either firm on the size of transaction. Telekurs, which had an operating income of some SFr650 million and net…

Dotcom entrepreneur to head early stage fund

This content was published on Jun 7, 2002 Before establishing LeShop, which by the way did a turnover of some SFr11.5 million last year and employs 70 people, Nicod worked as a venture capitalist, according to his bio on LeShop’s website. He has an MBA from INSEAD and he was also employed by McKinsey and Arthur Andersen. When the Bon appétit Group, a…

Leica records new losses

This content was published on Jun 6, 2002 The figure was an improvement on the previous year, when the company posted losses of nearly SFr8 million. In a statement, Leica said much of the loss stemmed from its write-off of SFr58 million of goodwill from Cyra, an American laser technology and software concern it acquired in 2000. Leica also incurred SFr4.7 million in…

Local stations get a facelift

This content was published on Jun 6, 2002 Swiss Federal Railways has invested SFr340 million in the scheme, which will bring an end to the old 19th-century wooden stations, and replace them with modern glass shelters. The first new station was officially opened in the little town of Muntelier-Löwenberg in canton Fribourg. Christian Kräuchi, who is head of communications for Swiss Federal Railways,…

“swiss” link-up with BA alliance looks shaky

This content was published on Jun 6, 2002 Pieter Bouw told Swiss radio on Thursday that talks with BA were faltering over landing rights at London’s Heathrow airport and fears that the partnership may simply be too costly. “This would mean that swiss wouldn’t get complete access to the global alliance of oneworld,” said Bouw. The alliance is headed by British Airways and…

What the bilaterals mean for Switzerland

This content was published on Jun 6, 2002 Free movement of people Under this agreement the Swiss and EU labour markets will be opened up for a trial period of seven years, at the end of which Switzerland will be free to decide whether or not to continue with it. Swiss citizens will be able to live and work freely within the EU…

Banking & Fintech

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Banking & Fintech

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Tracing the language border on a map

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Profits fears hammer Swiss tech stocks

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Swiss farmers face eviction in Zimbabwe

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Tornos cuts jobs and seeks rescue credit

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e-payment innovator acquired by Telekurs

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Dotcom entrepreneur to head early stage fund

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Leica records new losses

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Local stations get a facelift

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“swiss” link-up with BA alliance looks shaky

More

What the bilaterals mean for Switzerland

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