Banking & Fintech

Clear sailing for families on Swiss lakes

This content was published on May 4, 2001 More than 200 boats navigate Switzerland’s lakes and rivers. Among the most popular are trips on the faithfully restored paddle steamers that ply Lake Geneva – the fabled Swiss Riviera – Lake Lucerne in Central Switzerland or Lakes Thun and Brienz in the Bernese Oberland. Lake Thun this year has converted one of its more…

Kuoni bosses move to oust chairman

This content was published on May 4, 2001 The board is filing criminal charges for “disloyal conduct of business” against Affolter and the board of trustees of the Kuoni and Hugentobler foundation, which is the company’s largest shareholder. The foundation, created in 1957 by Alfred Kuoni, holds 6.25 per cent of Kuoni’s capital and 25 per cent of voting rights. The employment contract…

Game gives web users chance to play central bankers

This content was published on May 4, 2001 Mopos is a game in which users can assume the role of a central bank and simulate monetary policy in a simple virtual economy. The programme is the brainchild of National Bank economic adviser, Yvan Lengwiler, who spent the best part of a year developing it. His idea was to create a tool to explain…

Swiss join efforts to wean world off tobacco

This content was published on May 4, 2001 After five days of negotiations at the World Health Organisation (WHO) headquarters in Geneva, delegates of the 190 member states headed home with the framework text of the agreement to present to their respective governments. The draft accord puts severe restrictions on tobacco advertising and calls for the gradual elimination of sponsorship of sporting events…

CSFB to axe 200 jobs in US

This content was published on May 4, 2001 The report said that the cuts were expected to affect bankers across the US, including some working for Frank Quattrone, head of CSFB’s technology group in northern California. They would mark the third round of job losses at CSFB in less than a year. The bank has declined to comment. CSFB has some 28,000 employees,…

Swiss want “Yeti” to take wing again

This content was published on May 4, 2001 The importance of the recovery expedition is being presented to the public for the first time at the Swiss Transport Museum in Lucerne. Twisted pieces of metal from Yeti’s body and recovered bits of its engine are on display beside a small Swiss flag tied to a mountaineer’s ice pick. They are pieces to the…

Kuoni faces boardroom battle

This content was published on May 3, 2001 They also demanded that the president of the Kuoni and Hugentobler foundation step down along with the foundation’s committee, which controls just over six per cent of the company’s capital and has a quarter of all voting power. The demand is reportedly a reaction to the payment of millions of francs to each foundation committee…

Swissair Group pledges to avoid job cuts

This content was published on May 3, 2001 Corti pointed out in the article that the company, which suffered a near SFr2.9 billion ($1.7 billion) loss in 2000, must quickly return to being economically viable in order to clear the group’s debts. After having sold off its Swissôtel business, Swissair is now looking for a buyer for its information technology subsidiary, Atraxis. Corti…

Moody’s reaffirms top credit rating for Nestlé

This content was published on May 3, 2001 Moody’s confirmed the “Aaa” senior long-term debt ratings of Nestle. It added that, once the Ralston Purina takeover is complete, it will raise that company’s senior long-term debt rating to Aaa from A3 and its short term rating for commercial paper to Prime-1 from Prime-2. Moody’s Investors Service is a leading global credit rating, research…

Cabinet gives green light to army reform

This content was published on May 3, 2001 The cabinet is standing firm on an annual budget of SFr4.3 billion a year from 2003 and has already rejected a less expensive option. The annual budget marks the government’s commitment to the overhaul of Switzerland’s militia-based army, with a total investment of SFr29 billion over the next 15 years. Urban Siegenthaler from the Defence…

Banking & Fintech

Popular Stories

Most Discussed