Banking & Fintech

Swiss Federal Railways moots merger

This content was published on Jan 17, 2000 There have been further reports about a possible merger between the Swiss Federal Railways and the BLS Lötschberg Railway. A Federal Railways spokesman, Reto Kormann, confirmed that the issue had been raised during discussions between the two railways on increased co-operation. He added that savings of up to SFr50 million could be made annually if…

Swiss pharmaceutical giants relaxed about Glaxo merger

This content was published on Jan 17, 2000 The big Swiss pharmaceutical companies, Roche and Novartis, say they are relaxed about the news of the merger between the two British giants, Glaxo Wellcome and Smithkline Beecham. It will create the biggest pharmaceuticals group in the world, worth nearly 200 billion dollars. Novartis, which ranks sixth in the world, said it was strong enough…

Swisscom links up with US e-commerce company

This content was published on Jan 17, 2000 Switzerland’s largest telecommunications company, Swisscom, has linked up with the United States e-commerce firm, Commerce One, to launch a new online marketplace. Swisscom will try to ensure the success of the new venture by becoming its first customer. The new electronic marketplace will be based on one of Commerce One’s existing products, and operated by…

Leading politician rejects Anglo-Saxon capitalism

This content was published on Jan 16, 2000 A leading centre-left parliamentarian has poured scorn on suggestions that Switzerland should reform its political system along the lines of the United States and Britain, after the head of the Credit Suisse group said the country needed to undergo radical privatisation therapy. Franco Cavalli, the Social Democrat’s parliamentary leader, outlined his vision of Switzerland’s future…

Black boxes from Crossair crash intact

This content was published on Jan 16, 2000 The flight recorders from the Crossair plane which crashed last Monday near Zurich are intact, according to the Swiss air investigation bureau. Officials said the black box in the cockpit had recorded the pilots’ conversation just before the plane went down, killing all 10 people on board. The Swiss air investigation bureau revealed that the…

The business week ahead in Switzerland

This content was published on Jan 16, 2000 The coming week promises to be a busy one for the Swiss corporate sector. The banking giant, UBS, will start its previously announced share buy-back programme on Monday. The move is designed to reduce equity capital and lead to an earnings concentration for shareholders. The shares re-purchased will be cancelled following the approval of shareholders…

No Swiss believed to be on crashed plane in Costa Rica

This content was published on Jan 16, 2000 Swiss embassy officials in Costa Rica have told Swiss Radio International that it appears no Swiss were on board the plane that crashed into a house near the capital, San Jose, killing at least four people. 15 passengers and three crew were on board the aircraft, reportedly from France, Spain, the United States and Costa…

Post Office president criticises outgoing boss

This content was published on Jan 15, 2000 The President of the Swiss Post Office’s governing body has strongly criticised the outgoing head of the Post Office, Reto Braun, for leaving the organisation after just 16 months. He also took issue with Braun over the last year’s debacle at the national parcel distribution service, saying it cost the organisation between 80 and 100…

No hope left for missing Libya crash victims

This content was published on Jan 15, 2000 Rescue workers searching for survivors from a Swiss-owned Shorts 360-300 aircraft, which crashed off the coast of Libya on Thursday, say they have given up hope of finding anyone alive. Five people are still missing. Nineteen survivors have been plucked from the sea, and seventeen bodies recovered from the ill-fated aircraft, which is lying in…

The business week in Switzerland

This content was published on Jan 15, 2000 The Swiss stock market had its eyes firmly fixed on the franc/euro rate this week, as the European currency edged past the SFr1.61 mark. Swisscom made headlines when it promised to cut interconnection prices along with six rival operators. Away from the markets, the main business news of the week included: – Swiss based conglomerate,…

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Swiss Federal Railways moots merger

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Swiss pharmaceutical giants relaxed about Glaxo merger

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Swisscom links up with US e-commerce company

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Leading politician rejects Anglo-Saxon capitalism

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Black boxes from Crossair crash intact

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The business week ahead in Switzerland

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No Swiss believed to be on crashed plane in Costa Rica

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Post Office president criticises outgoing boss

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No hope left for missing Libya crash victims

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The business week in Switzerland

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