Banking & Fintech

Travelers to Switzerland find hidden benefits of euro

This content was published on Jan 12, 2002 Besides making it more convenient to spend money by eliminating the need to exchange currency in the euro zone and tourist destinations outside it, travelers are finding a hidden benefit: it’s easier to compare hotel and holiday prices across borders. Heinz Keller of Switzerland Tourism says, “For the very first time, all the guests have…

Rough week for Roche

This content was published on Jan 12, 2002 A jury in the United States found it had violated a licensing agreement with the American company, IGEN. Roche was ordered to pay more than $500 million damages in a dispute that has been running for four years. IGEN welcomed the result though Roche is expected to appeal. Potentially worse than the damages awarded is…

UBS Warburg makes winning bid for Enron trading operation

This content was published on Jan 11, 2002 The trading unit was the most important business of Enron, the world’s largest energy merchant before it collapsed at the end of last year. Terms were not disclosed on Friday, but details will be made public on Monday. According to the German DPA press agency, the bank acquired 51 per cent of Enron’s e-commerce platform,…

Swiss defend transport policy amid Gotthard gridlock

This content was published on Jan 11, 2002 Responding to criticism from transport organisations, Hans Werder of the Transport Ministry said the proposals had already been discussed with Switzerland’s neighbours. “We do not think this is a system that is in conflict with any international treaty that we have,” he told swissinfo. The Geneva-based International Transport Union as well as Swiss Road Hauliers’…

FC Lucerne in the clear?

This content was published on Jan 11, 2002 Facing a growing mountain of debt, FC Lucerne’s backers have requested that the club be put into receivership to protect them against their creditors. At a press conference on Friday, though, club officials insisted that they would still be able to produce the SFr 2 million ($1.21 million) that they need to stay in business.…

Swiss entrepreneurs recover their nerve

This content was published on Jan 11, 2002 The Venture 2002 contest, run by McKinsey and Co and the Swiss Federal Institute of Technology attracted 200 business plans from budding entrepreneurs compared with 120 for the last competition in 2000. In the days running up to the deadline, some insiders were worried that people would be deterred from starting a business in the…

Sunday vote to determine airline “Phoenix” plan

This content was published on Jan 11, 2002 Zurich’s voters are being asked to back a SFr300 million ($181 million) investment in a new company to replace the collapsed Swissair. The new airline, yet to be named, is being created around Swissair’s former regional subsidiary, Crossair. Under the phoenix plan, Crossair is to expand its operations to take over 52 of Swissair’s aircraft,…

High Swiss prices anger consumers

This content was published on Jan 11, 2002 The research, carried out by the University of Zürich, showed that goods such as domestic appliances and electronic equipment were often 30 to 50 per cent more expensive in Switzerland than in Germany. A Sony digital camera, for example, cost 1,770 Euros in Germany, but 2,350 Euros in Switzerland. Researcher Felix Prümmer, who worked on…

Government calls for urgent action to reduce traffic chaos

This content was published on Jan 10, 2002 The tunnel, Europe’s main north-south transalpine axis, is used daily by thousands of truck drivers transiting through Switzerland. But in the last few days the approach to the Gotthard has been transformed into a giant parking lot, with trucks waiting in line for up to five hours. To alleviate pressure on the Gotthard, the government…

Chemists raise alarm about fish

This content was published on Jan 10, 2002 The Association of Swiss Cantonal Chemists conducted a study of fish bred in Switzerland, but did not find comparatively high levels of the substances in fish cultivated abroad. The majority of the 204 sample fish that did not comply with acceptable levels of medication were trout, the association said. However, the results from tests conducted…

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Banking & Fintech

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Travelers to Switzerland find hidden benefits of euro

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Rough week for Roche

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UBS Warburg makes winning bid for Enron trading operation

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Swiss defend transport policy amid Gotthard gridlock

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FC Lucerne in the clear?

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Swiss entrepreneurs recover their nerve

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Sunday vote to determine airline “Phoenix” plan

More

High Swiss prices anger consumers

More

Government calls for urgent action to reduce traffic chaos

More

Chemists raise alarm about fish

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