Banking & Fintech

Open electricity market attracts criticism

This content was published on Dec 9, 2001 The law – to give industrial consumers and private households the freedom to choose their power suppliers – would be in line with the government’s policy of bringing Swiss legislation into line with that of the European Union. As part of the new law, a national network is to be established to ensure that all…

Zurich wine business needs help

This content was published on Dec 8, 2001 Werner Koblet, head of the department of viticulture at the Swiss Federal Institute of Technology in Zurich, told swissinfo that Swiss wines in general needed help to find a place in global markets. “Nobody knows about Swiss wines outside of Switzerland – they may know about Swiss cheese or watches or the Matterhorn even, but…

Crossair old guard makes way for new board

This content was published on Dec 8, 2001 Thursday saw Moritz Suter, founder and chairman of Crossair, and the airline’s board of directors step down to make way for a new management team led by the former head of the Dutch airline, KLM. At the end of an emotional, six-hour extraordinary meeting attended by 2,500 Crossair shareholders at the St Jakobshalle in Basel,…

Receiver calls for end to Swissair share trade

This content was published on Dec 7, 2001 Karl Wüthrich said on Friday they should have been taken off the market a long time ago. “There is no point in continuing to trade valueless shares,” he said. Following Wüthrich’s comments, Swissair shares lost some eight percent of their value in Zurich, and were trading at SFr3.50 ($2) on Friday. The shares reached their…

Crossair plane grounded in Sharm el Sheikh

This content was published on Dec 7, 2001 The airline confirmed on Friday that the plane – an MD-80, flight number LX8569 bound for Geneva – was being kept on the ground because of “hydraulic problems”. Spokesman Andreas Schwander said it was too early to say what the precise problems were, and that a team of technicians with spare parts had been dispatched…

Central bank cuts rates again

This content was published on Dec 7, 2001 In the fourth rate cut this year, the central bank lowered its three-month London Inter-Bank Offered Rate, or Libor, to between 1.25 and 2.25 per cent. The bank said it would aim for the middle of the range. The cut had been expected as the economy has become increasingly sluggish. The low level of inflation…

New era for Crossair as board of directors steps down

This content was published on Dec 7, 2001 At the end of an emotional, six-hour extraordinary meeting attended by 2,500 Crossair shareholders at the St Jakobshalle in Basel, the chairman-elect Pieter Bouw said he and his new 11-member board would do everything possible to ensure the future development of the airline. “We should look ahead to a future not of conflict,” 60-year-old Bouw…

Woman gains coveted bank role

This content was published on Dec 6, 2001 Anne Marie de Weck, who has been in charge of private clients at Geneva’s second biggest private bank since January 1999, will become Lombard Odier’s eighth managing partner when she takes up her post on January 1, 2002. Managing partners at Swiss private banks are liable for the bank’s assets. Other private banks have female…

Swisscom under investigation

This content was published on Dec 6, 2001 The Swiss Competition Commission (Comco) aims through the investigation to establish if the partially privatised, one-time telecom monopoly has violated competition law by attaching to its monthly line rental bills its own, targeted publicity. The opening of the investigation follows a complaint from rival telecom operator, Tele2, which first raised its objections to the publicity…

Assets fall at Baer

This content was published on Dec 6, 2001 The Swiss-based bank said on Thursday that it expected a “significant rebound” in earnings in 2002, after net profit for the first nine months of 2001 fell by “slightly more than half” compared with the same period a year ago. The bank, which is headquartered in Zurich, also said that it saw a surge in…

Banking & Fintech

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Banking & Fintech

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Open electricity market attracts criticism

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Zurich wine business needs help

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Crossair old guard makes way for new board

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Receiver calls for end to Swissair share trade

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Crossair plane grounded in Sharm el Sheikh

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Central bank cuts rates again

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New era for Crossair as board of directors steps down

More

Woman gains coveted bank role

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Swisscom under investigation

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Assets fall at Baer

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