Banking & Fintech

Swiss firms in running to buy DuPont’s drug arm

This content was published on Mar 19, 2001 Britain’s Financial Times newspaper said on Monday that a deal would be a rare opportunity for a European firm to acquire a strong position in the US at a reasonable price of less than $10 billion (SFr17 billion). According to the paper three companies – Bayer of Germany, Switzerland’s Novartis and Anglo-American group GlaxoSmithKline –…

New boss promises clean sweep at SAirGroup

This content was published on Mar 19, 2001 “One thing is clear, we cannot tolerate these kind of losses,” said Mario Corti, in an interview with the French-language Swiss television programme “Droite de Cité”. His comments come after he was appointed to the helm of SAirGroup last Friday. The company is struggling to turn itself around amid a failed expansion strategy, which has…

Another Swiss economic upturn expected around mid-2001

This content was published on Mar 19, 2001 Economic growth in Switzerland began to slow in the second half of last year in line with global developments. However, the slowdown should be short-lived, coming to an end by mid-2001, Visani told swissinfo. Last year was a good one for the Swiss economy: Gross Domestic Product (GDP) growth reached three per cent, unemployment fell…

Two thousand jobs may be axed at Swissair

This content was published on Mar 19, 2001 The paper says that the job cuts, which amount to around a quarter of the airline’s workforce, could be a consequence of a restructuring programme at SAirGroup. It estimates that in a worst-case scenario, Swissair will be forced to shed 2,268 jobs. SAirGroup is estimated to have lost as much as SFr2.5 billion in the…

Top Swiss banking official says stock market crisis has peaked

This content was published on Mar 18, 2001 “I have a feeling the worst is now behind us,” said Roth in an interview with the Swiss German newspaper, the “SonntagsZeitung”. But Switzerland’s most senior banking official also made it clear that the global economy still needed time to recover. Roth singled out Japan’s economy as being of particular concern: “The economic situation in…

New SAirGroup chairman gives himself five years to rebuild Swissair

This content was published on Mar 17, 2001 In an interview on Swiss radio, Corti said his task as chairman was to create “for the Swiss people a Swissair of which they can be proud,” but cautioned he would need at least five years to achieve this. Corti did not mention the word SAirGroup once in the interview, referring to the company simply…

Business Outlook

This content was published on Mar 16, 2001 Corti, the only board member not to resign on March 9, has a tough challenge ahead to turn the company’s fortunes around. The rest of the board is stepping down after taking collective responsibility for mounting losses estimated at SFr2.5 billion in the past year. The jurist and economist from canton Ticino is currently the…

The business week in Switzerland

This content was published on Mar 16, 2001 Following the announcement, shares in the company recovered some of the ground lost in the wake of the board’s mass resignation on March 9. The group is estimated to have lost as much as SFr2.5 billion ($1.5 billion) in the past year. The country’s second biggest financial institution, the Credit Suisse Group, reported brighter figures…

Ticino strives for economic independence

This content was published on Mar 16, 2001 Ticino’s dependence on northern Italy is most apparent in the tourist industry where almost 80 per cent of its employees are Italians, who commute across the border each day. Without the Italian workers, says Ricco Maggi of Ticino’s Institute for Economic Research (IRE), “Ticino’s workforce would be too small to allow the canton to grow…

Swiss firm puts watchmaking in hands of customer

This content was published on Mar 16, 2001 The Swiss Society for Management of Ideas and Innovations in Zurich awarded its Golden Ideas Oscar 2001 to ITS Inter Time Services of Grenchen, the company behind the watch. The idea is the brainchild of ITS managing director, Eric von Schulthess, who in 1998 was looking for new ways of distributing his company’s corporate and…

Banking & Fintech

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Banking & Fintech

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Swiss firms in running to buy DuPont’s drug arm

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New boss promises clean sweep at SAirGroup

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Another Swiss economic upturn expected around mid-2001

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Two thousand jobs may be axed at Swissair

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Top Swiss banking official says stock market crisis has peaked

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New SAirGroup chairman gives himself five years to rebuild Swissair

More

Business Outlook

More

The business week in Switzerland

More

Ticino strives for economic independence

More

Swiss firm puts watchmaking in hands of customer

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