Banking & Fintech

French airlines cut 1,300 jobs

This content was published on May 21, 2001 Announcing the job cuts, Marc Rochet, chief executive of AOM/Air Liberté, which is jointly controlled by the Swissair Group and France’s Marine Wendel, said the company was in a “precarious and delicate economic situation”. The airline operator recently declared a net loss of FFr2.4 billion (SFr560 million) for 2000. The company has faced tough competition…

Ralston shareholders approve Nestlé acquisition

This content was published on May 21, 2001 The acquisition, to be subjected to a regulatory review, required the approval of over two-thirds of Ralston’s shareholders. Nestlé’s CEO, Peter Brabeck-Letmathe, said he expected the transaction to be completed by the end of the year. He added that the acquisition would give the consumer “tremendous benefits in innovation, more consumer choice and stronger competition…

Ailing Swiss sports marketing company declared bankrupt

This content was published on May 21, 2001 The decision clears the way for the company to be wound up. The presiding judge linked his decision to the failure of the planned takeover of ISMM by France’s Vivendi Universal. ISMM-ISL was the world number one sports marketing company. But the firm, set up in 1982, made a number of bad investments, and had…

French airlines to cut 1,300 jobs

This content was published on May 21, 2001 The airlines, which are jointly controlled by the Swissair Group and France’s Marine Wendel, have around 5,000 employees in total. AOM/Air Liberté chief executive, Marc Rochet, was expected to announce details of the restructuring programme for the airlines on Monday. At the end of April, the owners agreed to keep the loss-making airlines solvent until…

Shareholders squash billion dollar property merger

This content was published on May 21, 2001 The deal would have created Switzerland’s biggest property group, but was rejected amid rumours of a higher counter-bid. FHH is all that remains of the Feldschlösschen-Hürlimann brewing group. It now consists of only a property business since Denmark’s Carlsberg bought the company’s soft drink and beer activities last July. FHH and fellow property concern Swiss…

Sulzer Medica faces massive bill over faulty hip implants

This content was published on May 21, 2001 Sulzer Medica’s shares closed almost 14 per cent down at SFr285 ($162.86), following the company’s announcement. The Winterthur-based firm had said in March its product liability insurance was adequate to cover costs associated with revision surgery. The company’s United States-based subsidiary, Sulzer Orthopedics, has reported that more than 1,700 revision surgeries, connected with the Inter-Op…

Profits fall at Credit Suisse

This content was published on May 21, 2001 However, the CS Group did see a slight increase in assets under management over the same period to SFr1.366 trillion. CS Group spokesman Andreas Hildenbrand told swissinfo that the fall in profits had to be seen against a record-breaking performance for the company last year. “The first quarter of 2000 was very favourable while the…

A summer of sitting around Zurich

This content was published on May 21, 2001 A blue and white tram sets off down Zurich’s Bahnhofstrasse. Emblazoned across the side is the slogan “I’m also a boat”, advertising the fact that tram tickets can also be used on Lake Zurich’s passenger ferries. The tram rumbles past dozens of benches of all shapes and sizes, including one with the words “I’m also…

Zurich’s Rolf Hüppi admits he made mistakes

This content was published on May 21, 2001 Shares in the group, which is Europe’s third largest insurance company, dropped sharply after the company shocked the markets by posting a 5.5 per cent slide in net profit to SFr3.63 billion ($2.1 billion) for 2000. “It’s not that we haven’t operationally or strategically done the right things,” Hüppi told swissinfo. “The mistake is we…

Governing parties snub air transport agreement with Germany

This content was published on May 18, 2001 A spokesman for the four governing parties said the result of the negotiations between Switzerland and neighbouring Germany last month was unacceptable. He made the statement following talks between the parties and the cabinet in Bern on Friday. In April the Swiss transport minister, Moritz Leuenberger, agreed to cut to less than 100,000 per year…

Banking & Fintech

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Banking & Fintech

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French airlines cut 1,300 jobs

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Ralston shareholders approve Nestlé acquisition

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Ailing Swiss sports marketing company declared bankrupt

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French airlines to cut 1,300 jobs

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Shareholders squash billion dollar property merger

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Sulzer Medica faces massive bill over faulty hip implants

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Profits fall at Credit Suisse

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A summer of sitting around Zurich

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Zurich’s Rolf Hüppi admits he made mistakes

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Governing parties snub air transport agreement with Germany

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