Banking & Fintech

Swissair suffers losses, plans job cuts

This content was published on Aug 30, 2001 The group, which reported a loss of SFr2.9 billion last year, said it would cut its worldwide management staff by five per cent or 250 by the end of the year. The group employs 72,450 people worldwide. Swissair’s chief executive, Mario Corti, told swissinfo that overall he was satisfied with the changes being made. “I…

Swissair cuts jobs and plans to sell assets

This content was published on Aug 30, 2001 Swissair will reduce its worldwide management staff by five per cent or 300. The group employs 72,450 worldwide. The group’s chairman and chief executive, Mario Corti, is accelerating a cost-cutting programme announced last month as the economic slowdown in the United States and Europe continues to reduce profitability. Corti also wants to continue weakening ties…

Fresh search for Holocaust-era art

This content was published on Aug 29, 2001 According to the magazine, the WJC also stated in its letter that it was disappointed by the lack of progress by the Swiss in tracking down works of art stolen by the Nazis. The New York-based body instructed the Geneva law firm Lalive & Associates to act for it in this matter and to draw…

Government foresees small budget surplus for next year

This content was published on Aug 29, 2001 The cabinet on Wednesday approved the 2002 budget, which envisages a surplus of SFr350 million ($210 million). Expenditure is expected to rise by 3.5 per cent to SFr50.6 billion, while revenue is set to reach SFr51 billion. Parliament is set to debate state finances, including the budget, during its regular winter session. The 2002 budget…

History, mystery unfold at endangered alpine museums

This content was published on Aug 29, 2001 Since that accident, more than 500 people have been killed on the Matterhorn – only a fraction of the toll throughout the Alps – but that first tragedy still draws fascinated visitors, and remains the museum’s most popular exhibit, despite the many other artefacts and paintings. Largely because of the Matterhorn tragedy and a collection…

Couchepin eyes interest rate cut

This content was published on Aug 29, 2001 He was quoted on Wednesday in the online version of the Berner Zeitung as saying that, in his personal opinion, a rate cut by the fully independent central bank would be appropriate, echoing comments made in an interview on Sunday. He reiterated that he assumed the economy would grow by 1.5 per cent this year,…

Couchepin says postal, telecom services unlikely to be privatised

This content was published on Aug 29, 2001 Couchepin also called on the National Bank to cut its interest rates, in a newspaper interview on Wednesday. He added that this was his personal opinion, as the bank is independent of the federal government. The minister said it was politically unfeasible to privatise the post office in Switzerland. Steps should have taken earlier towards…

Credit Suisse plans more cost cuts

This content was published on Aug 29, 2001 On Wednesday, CSFB vice chairman Richard Thornburgh noted that CSFB had cut about 3,000 positions since last year’s acquisition of the brokerage firm Donaldson, Lufkin and Jenrette. Under the recently appointed chief executive John Mack, Credit Suisse seeks further savings. An announcement on cuts will be made to CSFB staff next week, Thornburgh said, without…

Swissair anticipates losses

This content was published on Aug 29, 2001 Results for the airline and air catering group, due out on Thursday, are expected to reflect the global economic slowdown and the poor performance of Swissair’s foreign affiliates. Analysts’ estimates vary widely, given a welter of one-time charges and divestment income that will blur the tough conditions its core aviation business still faces. The results,…

Profits unravel at packaging group

This content was published on Aug 29, 2001 The Swiss firm blamed seasonal factors and a declining investment market while predicting that full-year sales would be basically in line with last year’s figure. Net profit this year would be slightly lower than that of 2000 when adjusted for the fact that last year’s profit of SFr129 million included some SFr70 million after taxes…

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Banking & Fintech

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Swissair suffers losses, plans job cuts

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Swissair cuts jobs and plans to sell assets

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Fresh search for Holocaust-era art

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Government foresees small budget surplus for next year

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History, mystery unfold at endangered alpine museums

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Couchepin eyes interest rate cut

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Couchepin says postal, telecom services unlikely to be privatised

More

Credit Suisse plans more cost cuts

More

Swissair anticipates losses

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Profits unravel at packaging group

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