Banking & Fintech

Portugal demands damages from Swissair

This content was published on Dec 5, 2001 The government has filed a lawsuit in Zurich, claiming the Swissair Group reneged on a commitment to take a 34 per cent stake in the state-owned airline TAP Air Portugal, according to a report in the Publico newspaper. The report comes a day after the French airline, Air Lib, and its parent company, Holco SAS,…

Plan links classrooms to the Internet

This content was published on Dec 5, 2001 The programme was initiated by private industry and cantons last year to keep Switzerland’s educational system on the information superhighway. The Senate on Wednesday followed the House of Representatives in approving a financial package worth SFr100 million ($60 million). Private industry has pledged a similar amount. The bulk of the money, up to SFr900 million,…

French airline files lawsuits against Crossair

This content was published on Dec 5, 2001 The two companies, which filed the lawsuits in France and Switzerland, are claiming SFr670 million ($405.3 million) in damages. They argue that an agreement concluded with Swissair in August this year had not been respected. Air Lib – previously known as AOM/Air Liberté – and Holco SAS say that Switzerland’s regional carrier, Crossair, is tied…

Afghan appeal tops SFr1 million

This content was published on Dec 4, 2001 The funds are being used to finance emergency relief work carried out by several partner charities, including the Swiss Red Cross, Caritas, Swiss Interchurch Aid, Terre des Hommes Lausanne, Médecins sans Frontières and MedAir. According to Swiss Solidarity, more than 300,000 people have already benefited from relief operations. Swiss Solidarity, which launched its Afghanistan appeal…

Mont Blanc tunnel stays shut

This content was published on Dec 4, 2001 The Italian Transport Ministry said the two countries have agreed to delay the opening of the tunnel until mid-January to ensure that all safety measures are carried out. “The necessary technical tests cannot be finished in time,” confirmed a spokesman for ATMB, the company in charge of the Mont Blanc tunnel. Last week, France and…

Zurich to trade assets

This content was published on Dec 4, 2001 Under the deal reached in September, Zurich is to acquire Deutsche’s insurance arm plus cash and other businesses for the Swiss firm’s US fund unit. In a statement on Tuesday, Zurich said the deal was being broadened, and that it would also acquire 100 per cent of financial services distributor Bonnfinanz and asset management advisory…

Investors to rescue Swisscargo

This content was published on Dec 3, 2001 In a press release on Monday, Swisscargo announced the company and a group of investors, including Zurich businessman Branco Weiss, had signed a declaration of intent outlining the foundation of an independent cargo company. Swisscargo would be the first global company to provide passenger airlines with freight services and become a “general-sales-and-service-agent” organisation. According to…

Bluewin goes blue

This content was published on Dec 3, 2001 In cooperation with Europe’s leading erotic products company, Beate Uhse, Bluewin has opened a link to the world of eroticism. Bluewin management said eroticism would not be sold as sex on the new channel but as “lifestyle of the new century”, offering “solid top quality” without pornographic content. “We want to round off our services…

Debt moratorium granted for Swissair Group

This content was published on Dec 3, 2001 These and other companies of the collapsed Swissair Group have been under a provisional debt moratorium since October 5 after the financial collapse of the group and a two-day grounding of Swissair planes. The move means that the companies have protection against creditors and their debts are frozen. The judge announced that Karl Wüthrich, who…

Central bank urged to act on Swiss franc

This content was published on Dec 3, 2001 The Federation, which is the voice of the Swiss business community, said in a report published on Monday that the strong franc was undermining the competitive position of Swiss companies in the export markets. The National Bank is due to announce its monetary policy framework on Friday, with many economic analysts forecasting an interest rate…

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Banking & Fintech

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Portugal demands damages from Swissair

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Plan links classrooms to the Internet

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French airline files lawsuits against Crossair

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Afghan appeal tops SFr1 million

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Mont Blanc tunnel stays shut

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Zurich to trade assets

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Investors to rescue Swisscargo

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Bluewin goes blue

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Debt moratorium granted for Swissair Group

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Central bank urged to act on Swiss franc

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