Banking & Fintech

Kudelski intervenes in battle for Hughes Electronics

This content was published on Aug 7, 2001 In an interview with Reuters, the company’s chairman, André Kudelski, said he had made the offer to EchoStar’s chairman, Charles Ergen, but it was up to EchoStar to decide whether to accept his offer, or choose to go it alone. Kudelski said he would raise the money by issuing a fresh 25 per cent equity…

More jobs to go as American robotics company closes

This content was published on Aug 7, 2001 The company makes modems and other computer hardware. The office will close at the end of September or October. The firm will maintain a European office in London and a few employees from Nyon may be transferred there. US Robotics only arrived in canton Vaud in November last year with the aim of expanding its…

Locarno premiere provides food for thought

This content was published on Aug 7, 2001 There was a time in the 1970s and 80s when German films were heavy with political meaning, featured earnest and despairing characters, and tended towards preaching. Throughout the 1990s, German film-makers seemed to turn away from what had become a cliché. They made comedies, and the social and political problems associated with the nation’s re-unification…

Glencore releases plans for massive coal flotation

This content was published on Aug 7, 2001 Glencore, with its headquarters in canton Zug, plans to sell at least 55 per cent of Enex Resources, described as the world’s largest coal exporter. Glencore owns 11 mines in Australia and 14 in South Africa, which produced 40 million tonnes of thermal coal last year. Demand for coal is expected to grow by 30…

Saia Burgess releases disappointing figures

This content was published on Aug 7, 2001 The group’s earnings were lower than for the same period last year. The company, based in Murten, said its performance had been affected by the economic slowdown in the United States and Europe. It added that the sales increase of 23.9 per cent was primarily due to the contribution from the US-based electric motor group,…

Traffic poses problem at Gotthard tunnel

This content was published on Aug 7, 2001 The study commissioned by the Swiss Federal Roads Authority (Astra) bases its figures on a 30 per cent increase in traffic by 2020, which predicts that the total number of “traffic-jam-days” could rise to 75 southbound and 96 northbound. According to the newspaper “SonntagsZeitung”, motorists already face 55 to 60 days of traffic jams around…

Small town in Jura set to become Swiss horse capital

This content was published on Aug 7, 2001 Around 400 horses are paraded in front of tens of thousands of curious spectators and discerning buyers during the fair. The Franches-Montagne horse is one of three recognised and promoted by the federal government as a Swiss breed. It’s also one of the last lightweight draught horses still bred in Europe. The Marché Concours gets…

Swiss trade with Argentina slumps due to recession

This content was published on Aug 7, 2001 In the first six months of 2001, Swiss exports amounted to SFr185 million – an 11 per cent drop compared with the same period of 2000. Exports of pharmaceuticals, chemical products and machinery have all dropped as a result of the recession. However, Swiss watches, making up only six per cent of total exports to…

Swiss watchmaking industry heads for new record

This content was published on Aug 6, 2001 Commenting on the result, the Federation of the Swiss Watch Industry in Biel said that watchmaking had confirmed its place among the leading group of Switzerland’s most dynamic industries. There was a strong increase in exports of 18 carat gold watches (+18 per cent). However, there were negative trends volume-wise for stainless steel, plastic and…

Swiss tastes in alcohol go upmarket

This content was published on Aug 6, 2001 These are some of the findings in a document produced by the Swiss Alcohol Board, which has charted alcohol consumption in Switzerland between 1880 and 2000. A century ago, many of the working class in Switzerland used to drown their sorrows with spirits. But the Swiss today are far more moderate, preferring to become mildly…

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