Banking & Fintech

A symbol of Swiss unity given new lease on life

This content was published on Apr 23, 2001 Georges Zaugg, who heads the “Fondation de la Petite Gilberte” responsible for restoring the previously dilapidated Hotel de la Gare in the French-speaking village of Courgenay near the border with France, said the purpose of bringing the place back to life was not only to toast the memory of the wartime heroine, but to preserve…

SAirGroup sells Swissôtel to Raffles

This content was published on Apr 23, 2001 SAirGroup had listed the unit as one of a number of businesses it wanted to sell to help it return to profitability. SAirGroup spokesman, Erwin Schärer, told swissinfo that the group had been looking to divest itself of activities which were not directly linked to the company’s core businesses of airlines and airline-related services. SAirGroup…

Switzerland’s M4Music festival reveals new talent

This content was published on Apr 21, 2001 The festival, founded by Swiss retail giant Migros, took place in Zurich this month. Philipp Schnyder, head of the festival, told swissinfo about the concept behind the event. “M4Music Festival is about bringing people together, exchanging ideas, getting to know new people, and having a look at the artists and their arts.” For young Swiss…

More trouble brewing for SAirGroup

This content was published on Apr 20, 2001 Honegger resigned from the board shortly before the Swiss airline group posted record SFr2.9 billion ($1.65 billion) losses at the beginning of this month. But according to the German language weekly, Weltwoche, Honegger is demanding that the company honour a new contract, signed in December last year. The contract is said to entitle Honegger to…

Media giants throw lifeline to bankrupt sports promoter

This content was published on Apr 20, 2001 The German edition of the Financial Times said on Friday that a deal had been struck between the ISMM management and the French company, Vivendi, as well as the Luxembourg-based television company, RTL. If confirmed, the deal would give the media firms access to lucrative licences to market and broadcast sports events. They could also…

The business week in Switzerland

This content was published on Apr 20, 2001 The takeover bid for Sulzer all but failed on Thursday when shareholders rejected a proposal to replace the company’s current board with one proposed by InCentive Capital. At a packed annual general meeting in Sulzer’s hometown of Wintherthur, around 70 per cent of shareholders present decided to back the present chairman, Leonardo Vannotti, and his…

The BEA is no Animal Farm

This content was published on Apr 20, 2001 Switzerland has not been directly affected by the current outbreak foot-and-mouth disease, but as a precaution organisers have banned all cloven-footed animals, such as cattle, sheep and goats from the nine-day event, which this year celebrates its 50th anniversary. The Swiss defence minister, Samuel Schmid – speaking at the opening of the fair – underlined…

Sulzer shares under pressure

This content was published on Apr 20, 2001 Sulzer, whose shareholders effectively rejected a hostile takeover bid from investment group InCentive Capital on Thursday, saw its shares drop more than four per cent at one stage to SFr964. Traders said investors were unwinding speculative positions taken ahead of Thursday’s annual general meeting. Sulzer shareholders also agreed to spin off the group’s stake in…

World music and revolving restaurant in Stans

This content was published on Apr 20, 2001 Stans is hosting a world music festival from April 24 to 29, and a revolving restaurant – the first in central Switzerland – will be opened on top of Mount Stanserhorn on April 28. The English saxophonist, John Surman, performing with a string quartet, will kick off the “Stans Music Days”. Other highlights include Gypsy…

Couchepin attends key bank meeting

This content was published on Apr 20, 2001 The meeting, which lasts from Sunday to Tuesday, will focus on the bank’s continuing role in the transition process in eastern Europe and in the countries of the former Soviet Union. Member states will also examine the capital resources of the bank, as is required every five years. The EBRD, which was created in 1991…

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