Banking & Fintech

SIG cuts jobs and sells arms division

This content was published on Jan 13, 2000 The Swiss industrial company, SIG, has announced major plans for restructuring that will cost 370 jobs in Switzerland, Germany and the United States. At a news conference in Zurich, the Schaffhausen-based company said around 60 people would take early retirement, but it said redundancies could not be ruled out. In Switzerland, 110 jobs will be…

C&W buys two Swiss Internet providers

This content was published on Jan 13, 2000 The British telecommunications company, Cable and Wireless, has bought eight of Europe’s top Internet service providers, two of them Swiss. It said it had purchased the eight companies, and another two announced earlier, for a total of $500 million. C&W said it would invest a further $500 million in the companies to expand its Internet…

Reports say at least 18 survivors of plane crash

This content was published on Jan 13, 2000 The state-run Libyan news agency has quoted government officials as saying 18 people have survived the crash of a Swiss-owned aeroplane. 15 of the more than 40 people on board the Shorts 360-300 aircraft are believed to have died. The plane – which belonged to the Swiss firm, Avisto – crashed into the sea as…

Swisscom cuts interconnection prices

This content was published on Jan 12, 2000 The former telecommunications monopoly, Swisscom, has reached an agreement with six rival operators to cut interconnection prices for the year 2000 by 16 to 19 per cent compared to 1999. The interconnection price is what Swisscom charges other telecommunications companies to use its network to connect calls. Swisscom said its new deal with Sunrise, Tele2,…

Winterthur buys into Japanese market

This content was published on Jan 12, 2000 The Winterthur Insurance Group, one of the world’s top ten international insurance groups, has announced it is entering the Japanese life insurance market. It is acquiring Nicos Life from Nippon Shinpan for around SFr260 million. Nicos Life, which has some 250 employees and 450 sales consultants, is expected to achieve gross premiums of SFr447 million…

Sulzer Infra acquires Basel consultancy

This content was published on Jan 12, 2000 Sulza Infra, part of the Sulzer technology corporation, says it has acquired the Swiss engineering consulting firm JCS Ingenieurbüro in Basel for an undisclosed sum. A statement from Sulzer Infra headquarters in Winterthur said the deal gave the company “significant competence in industrial automation and electrical technology, above all for the pharmaceuticals industry”. It added…

Traffic returns to normal at Swiss border

This content was published on Jan 12, 2000 Traffic has returned to normal at the Swiss border, after French truckers lifted their two-day old blockades. The barriers were dismantled early on Wednesday after haulage companies reached a deal with the French government on a new labour law and fuel prices. Some of the larger road-blocks are still being dismantled, but French officials said…

Search for missing black boxes resumes

This content was published on Jan 12, 2000 The cause of Monday’s aircrash near Zurich airport remains a mystery. The search for the flight recorders has resumed. Seven passengers and three crew members died in the accident. Efforts to find the black boxes of the Crossair plane near the village of Niederhasli were called off as darkness fell on Tuesday evening. Much of…

Flight recorders found from Crossair plane crash

This content was published on Jan 12, 2000 Investigators trying to establish the cause of Monday’s Crossair crash near Zurich have now found the plane’s two flight recorders. Ten people died in the crash. The two black boxes are expected to shed light on the reason why the Saab-340 plane went down two minutes after taking off from Zurich’s Kloten airport on its…

Post Office announces big price rises

This content was published on Jan 11, 2000 The Post Office has announced a sharp increase in the cost of sending letters and parcels. The price hikes, some of which are as high as 85 per cent, will take effect in July. The changes, which come a day after the unexpected resignation of Post Office boss Reto Braun, will particularly affect the price…

Banking & Fintech

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Banking & Fintech

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SIG cuts jobs and sells arms division

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C&W buys two Swiss Internet providers

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Reports say at least 18 survivors of plane crash

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Swisscom cuts interconnection prices

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Winterthur buys into Japanese market

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Sulzer Infra acquires Basel consultancy

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Traffic returns to normal at Swiss border

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Search for missing black boxes resumes

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Flight recorders found from Crossair plane crash

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Post Office announces big price rises

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