Banking & Fintech

Crossair casts doubt over salvage plan for Swissair

This content was published on Oct 11, 2001 A taskforce consisting of representatives from the Swiss government, banks and Crossair is to meet on Sunday, when analysts expect changes to an October 3 deal under which Crossair was set to obtain two-thirds of Swissair operations. On Thursday, cracks appeared to be forming in the SFr1.4 billion ($857.8 million) bank rescue deal as Crossair,…

Relatives of Luxor victims receive final compensation

This content was published on Oct 11, 2001 The Federal Office for Police said the remaining SFr876,000 ($536,440) had been paid, thereby ending the indemnification process. The two travel operators, Hotelplan and Imholz, as well as the insurance companies Zurich and Winterthur had contributed to the fund, but declined any responsibility in the incident. The money was supposed to cover financial losses not…

Good 2001 expected for Givaudan

This content was published on Oct 11, 2001 Sales at the world’s second-largest flavours and fragrances company rose by 5.2 per cent in local currencies and 4.0 per cent in Swiss francs in the first nine months of 2001 to SFr1.86 billion ($1.14 billion). “Barring unforeseen events, Givaudan expects an overall good result for the full year,” it said. The company cited a…

US airdrops could harm future aid operations, Red Cross warns

This content was published on Oct 10, 2001 The concern voiced by the ICRC about the American operation is significant as the Geneva-based humanitarian organisation is often slower than other non-governmental organisations in criticising Washington, which provides forty per cent of its budget. But there is a growing feeling in aid circles that the American action threatens to exacerbate an already difficult humanitarian…

UBS shareholders force confidence vote in Ospel

This content was published on Oct 10, 2001 The “UBS without Ospel” association said on Wednesday that it had gained the support of 357,000 shares representing a value of SFr1 million francs. This means the vote can be added to the AGM’s agenda. The association doubts, however, that it can attract the necessary amount of support to call an extraordinary general meeting before…

Zurich Airport stakes claim on Swissair assets

This content was published on Oct 10, 2001 Swissair Group and its Swissair airline unit on Friday won court protection from creditors after a liquidity crisis at the flag carrier led to the biggest corporate collapse in the country’s history. A spokesman for Zurich Airport said the firm had certain rights of first refusal in the case of the sale of Swissair Group’s…

In La Baroche, the rare damson ripens

This content was published on Oct 10, 2001 A ring of six hamlets outline La Baroche: Miécourt, Pleujouse, Alle, Fregiécourt, Asuel and Charmoille. During the first weeks of summer, just before the damassiniers (damson trees) begin to bear fruit, the scent of the trees’ characteristic white blossoms pervades the area, which is home to medieval castles, such as the Chateau Pleujouse, which once…

Cablecom cuts jobs

This content was published on Oct 10, 2001 The group is in the middle of a reorganisation to offer new services such as digital high-speed Internet connections and telecommunications services in direct competition with the dominant operator Swisscom. In a statement released on Wednesday it said it was cutting between 250 and 300 jobs out of 1,900 as it transforms itself into a…

Weak outlook for Tamedia

This content was published on Oct 10, 2001 The company said in a statement that the negative economic environment was depressing all advertising sectors especially its help-wanted advertising. The Zurich-based company prints a range of German language publications, ranging from the daily Tages Anzeiger newspaper, the weekly Finanz and Wirtschaft business journal to poular magazines such as Facts and Schweizer Familie. Tamedia also…

English becoming lingua franca of Swiss business

This content was published on Oct 9, 2001 A visitor to Switzerland who turns on the television, listens to the radio or glances at a newspaper could be forgiven for thinking that English was one of the country’s official languages. Adverts increasingly contain English words, particularly job ads, and more and more Swiss firms, from telecommunications operators, Swisscom and Sunrise, to health insurers…

Banking & Fintech

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Banking & Fintech

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Crossair casts doubt over salvage plan for Swissair

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Relatives of Luxor victims receive final compensation

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Good 2001 expected for Givaudan

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US airdrops could harm future aid operations, Red Cross warns

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UBS shareholders force confidence vote in Ospel

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Zurich Airport stakes claim on Swissair assets

More

In La Baroche, the rare damson ripens

More

Cablecom cuts jobs

More

Weak outlook for Tamedia

More

English becoming lingua franca of Swiss business

Popular Stories

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