Banking & Fintech

Ascom reveals poor first-half performance

This content was published on Sep 3, 2001 A company statement said the loss was not unexpected but some analysts had forecast net earnings at above SFr30 million. The figure released on Monday compared with earnings of SFr60 million for the first half of 2000. Ascom said it expected losses to mount for the year as a whole following more restructuring costs and…

Executive cites “critical” need for more international schools

This content was published on Sep 3, 2001 “The situation is critical,” Gisiger, speaking for the Group of Multinational Employers, told the Swiss-American chamber of commerce. “Many companies are losing patience.” Gisiger, who works for Caterpillar, says Geneva-area international schools can accommodate 6,000 to 8,000 English-speaking students, but that is far from sufficient. He warns that, with executives already facing a housing shortage…

Road pricing idea causes outrage

This content was published on Sep 2, 2001 The suggestion, by the Economics Minister, Pascal Couchepin, unleashed a media storm – one newspaper even carried a cartoon depicting Couchepin manning a medieval style toll booth. Katja Mäder, spokeswoman for the minister, says she and her colleagues were taken by surprise at the reaction. “Pascal Couchepin mentioned road pricing at a cabinet meeting when…

Funicular offers white-knuckle ride

This content was published on Sep 1, 2001 Constructed in 1926 to help build the Gelmer dam and the Handeck hydroelectric power station, the Kraftwerke Oberhasli’s (KWO) Gelmerbahn has opened to the public for the first time in 75 years. Thanks to an investment of SFr800,000, the funicular, located a few kilometres outside the town of Innertkirchen, now gives up to 180 people…

Swissair chief plans to hike ticket prices

This content was published on Sep 1, 2001 In an interview with the Swiss “Tages-Anzeiger” newspaper on Saturday, Corti outlined a new strategy to reinforce Swissair’s market position as a quality airline aimed at the top end of the market. “We must have the courage to separate ourselves from our competitors through our services and prices,” Corti said. He pointed out that in…

Swissair share price continues to fall

This content was published on Aug 31, 2001 Analysts at Zurich Cantonal Bank said in a study that the risks for investors were far higher than opportunities. They also noted the Swissair Group’s “extremely high” net debt of almost SFr15 billion. The company on Thursday announced plans to cut 1,250 jobs and sell some of its major assets after reporting a first half…

Swissair losses dominate business headlines

This content was published on Aug 31, 2001 On Thursday the Swissair Group announced plans to shed 1,250 jobs and sell some of its major assets after reporting a first half loss of SFr234 million ($140 million) compared with a profit of SFr3 million during the same period a year earlier. The group, which reported a loss of SFr2.9 billion last year –…

Anti-globalisation protesters end occupation of Mobutu villa

This content was published on Aug 31, 2001 The peaceful end to the occupation of the house in Savigny near Lausanne came after members of the Lausanne-based La Smala movement met with a judge, police and an official from the local debt and bankruptcy office, which is responsible for the villa. The house is due to be sold at auction next month and…

Ascom kicks off business week

This content was published on Aug 31, 2001 Ascom said in July that it saw no reason to change its 2001 profit outlook even though some divisions were encountering “business cycle headwinds”, according to chief executive Urs Fischer. Ascom announced a month earlier its plans to cut 1,100 jobs as part of the reorganisation drive Fischer launched when he took over earlier in…

Boxer nips at heels of big brewers

This content was published on Aug 31, 2001 Set-up in 1960 in the town of Romanel in canton Vaud by Albert Heusser, who named the brewer after his favourite breed of dog, Boxer prides itself on remaining outside the brewing empires controlled by Denmark’s Carlsberg, Britain’s Allied Domecq, and other major players. Today Boxer supplies speciality beers to clients across Switzerland, pulling in…

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Banking & Fintech

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Ascom reveals poor first-half performance

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Executive cites “critical” need for more international schools

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Road pricing idea causes outrage

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Funicular offers white-knuckle ride

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Swissair chief plans to hike ticket prices

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Swissair share price continues to fall

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Swissair losses dominate business headlines

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Anti-globalisation protesters end occupation of Mobutu villa

More

Ascom kicks off business week

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Boxer nips at heels of big brewers

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