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Swiss Life drags SMI to lowest level since 1996

This content was published on Mar 10, 2003 The share rout helped push the benchmark Swiss Market Index (SMI) to its lowest levels since November 1996 – well below the psychologically important 4000-point mark. During afternoon trading on Monday, Swiss Life’s shares hit a new all-time low of SFr42.50 ($32), before ending the day at SFr44.10. Analysts blamed the dramatic share slump on…

Cabinet appoints private banker to national bank

This content was published on Mar 9, 2003 Hildebrand’s appointment to the crucial post was announced on Friday, in a move that was widely welcomed. The make-up of the bank’s board has long been a source of political tension in Switzerland, with leftwing parties accusing it of being dominated by board members linked to the centre-right Radical Party. Hildebrand – who will replace…

Swiss women weather slowdown better than men

This content was published on Mar 8, 2003 As the world marks International Women’s Day, attention is focusing on the pay differences between men and women, and the absence of women in top-level jobs. Latest figures show that the number of unemployed men is on the rise, whereas more and more women are taking up paid employment. According to the State Secretariat for…

Swiss say no to US corporate governance law

This content was published on Mar 7, 2003 While the Swiss say they understand the objectives of the law, they are concerned it will cause problems for companies listed on the New York Stock Exchange (NYSE). The legislation was passed last summer in the wake of accounting scandals at energy trader Enron and telecommunications giant Worldcom. The US Securities and Exchange Commission (SEC)…

Flush Swisscom buys into European niche

This content was published on Mar 7, 2003 The new unit, Swisscom Eurospot, has bought stakes in Europe’s main wireless operators so it can offer web access in hotels, airports, conference centres and other public places. Swisscom bought the leading pan-European operator, London-based Megabeam Networks, and the German market leader, WLAN in Munich, to form the backbone of its new unit. Swisscom’s CEO,…

Sunken paddle steamer recalls golden age

This content was published on Mar 7, 2003 The vintage paddle steamer Bellevue has lain undisturbed on the lakebed since sinking in a storm in 1864. Its exact location had remained a mystery until an underwater search team found the vessel last summer. The boat was lying a few hundred metres from the landing at Oberhofen, 100 metres below the surface and almost…

ETH spin-off gains foothold in GPS chip market

This content was published on Mar 7, 2003 Its competitors include GPS pioneer Sirf Technologies, the wireless giant Motorola and a host innovative start-ups. Two years ago u-blox took the big leap to change its product focus from developing global positioning system modules that relied on integrated circuits from another to developing its own chips. According to the firm, these new chips, called…

Former CSFB star charged by US regulators

This content was published on Mar 7, 2003 He resigned from Credit Suisse First Boston (CSFB) earlier this week amid mounting legal pressure surrounding him and the firm. On Thursday, the NASD charged Quattrone with tipping off clients about forthcoming initial public offerings in order to win business. The former head of CSFB’s technology unit was also accused of overseeing a flawed organisation…

A profligate kingdom

This content was published on Mar 6, 2003 However, with the advent of privatisation, current practices look set to change. “Use water wisely, please. It’s a precious commodity in the Emirates,” reads one advertisement in the arrivals hall at Dubai airport. But flying over the country, one could be mistaken for thinking that the message is simply aimed at tourists. Everywhere along the…

Life springs from Trümmelbach Falls

This content was published on Mar 6, 2003 The melt water does not cascade over the cliffs as the other waterfalls in the Lauterbrunnen Valley, but are funnelled into the mountainside. Between April and June, about 20 cubic metres of water roars through the gorge every second. And it is estimated that the Trümmelbach carries about 20,000 tons of debris – mostly sand…

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Swiss Life drags SMI to lowest level since 1996

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Cabinet appoints private banker to national bank

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Swiss women weather slowdown better than men

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Swiss say no to US corporate governance law

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Flush Swisscom buys into European niche

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Sunken paddle steamer recalls golden age

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ETH spin-off gains foothold in GPS chip market

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Former CSFB star charged by US regulators

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A profligate kingdom

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Life springs from Trümmelbach Falls

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