Banking & Fintech Archives - Page 1317 of 1641

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Leuenberger seeks backers for national airline

This content was published on Oct 16, 2001 Leuenberger commented on Monday evening as the search continued for SFr4 billion to ensure the re-launch of a national carrier. Time is short to find backers for a rescue plan that would see the regional airline, Crossair, absorb around two-thirds of Swissair flights and emerge as the new national airline. Swissair collapsed under a mountain…

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Zug: modern millionaires and old-world charm

This content was published on Oct 16, 2001 The city’s traditional heritage is largely hidden behind the international corporations and wealthy elite who have given Zug its unofficial title of the richest place in Switzerland. Less than a five-minute walk from the business district, along the shore of Lake Zug, lie narrow streets densely packed with wooden and stone houses, which have barely…

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Swiss growers offer “wines with character”

This content was published on Oct 16, 2001 In the vineyard of Eric Klausener in the Ticino village of Purasco above Lake Lugano, there is no sign of the gloom that affects many of Switzerland’s wine farmers. A dozen or so grape pickers, all friends of Klausener’s, are scattered across the vineyard, cheerfully picking dark blue Merlot grapes. Most have taken a holiday…

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Credit Suisse unit strengthens position in Britain

This content was published on Oct 15, 2001 The deal, subject to regulatory approval, will increase Credit Suisse Asset Management’s funds under management by SFr25.9 billion ($15.96 billion). The transaction includes a property investment business worth SFr1.9 billion. Under the terms of the deal, the SLC name will be phased out and the existing business will be re-branded as Credit Suisse Asset Management.…

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Saurer cuts workforce

This content was published on Oct 15, 2001 The company’s net earnings for the first eight months of the year fell to SFr22.4 million compared with SFr25.7 million for the same period the previous year. Saurer said it expected to post a significant loss for the last four months of the year and that there was even a risk of a full-year loss.…

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Crossair boss looking to minimise job cuts

This content was published on Oct 15, 2001 Dosé, speaking after a meeting of the Swiss government’s task force on Swissair on Sunday, said this plan would guarantee a continuity of European routes operated by the national airline after the end of the month. The scenario would involve cutting 14 per cent of Swissair Group’s workforce, or approximately 9,400 people in Switzerland and…

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Task force lays out plans for direction of new Swiss airline

This content was published on Oct 15, 2001 Crossair boss, André Dosé, whose airline is supposed to take over part of Swissair’s fleet on October 28, said no final decision had been taken by the taskforce. But at a press conference following the meeting, Dosé said the preferred scenario would be for Crossair to take over 26 short-haul and an equal number of…

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Helicopter crash investigators ponder cause of accident

This content was published on Oct 14, 2001 The investigative team has launched an enquiry in a bid to establish why the helicopter collided with the cable. The possibility of pilot error or mechanical failure has not been excluded. The Alouette III had left Sion aerodrome at around 1:45pm on Friday. Local police said the accident happened near Mount Bovin, about 500 metres…

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Economists say crisis pushes economy towards recession

This content was published on Oct 14, 2001 Even before last month’s events, growth forecasts for both the developed and developing world had been revised sharply downwards. Now, the International Monetary Fund says the slowdown could be even worse than expected. “There is no doubt that the attack is having a negative effect on activity now in many regions of the globe and…

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