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Credit Suisse reaches bottom

This content was published on Nov 14, 2002 The group’s share price rallied on Thursday, after analysts said they expected Switzerland’s second largest bank to return to profitability next year. Credit Suisse avoided incurring market wrath by warning of substantial losses well in advance of Thursday’s figure. The scale of the third-quarter loss dwarfed last year’s deficit of SFr299 million. “The figures are…

Campaigners say keep water public

This content was published on Nov 14, 2002 Swiss unions and charities say water supply and price would be severely jeopardised if the authorities were to yield to pressure and liberalise the market. Under the banner “Water: a public utility”, the campaign hopes to keep water out of private hands, both in Switzerland and around the world. “Hard facts do not support the…

Girls take steps towards jobs for the boys

This content was published on Nov 14, 2002 The aim of the event is to open up new professional horizons to girls aged between 10 and 15, by giving them the chance to follow their fathers at work. Fathers are encouraged to take their daughters to work because the scheme aims to introduce girls to the more traditionally male-dominated professions. If father is…

Swiss dots foil counterfeiters

This content was published on Nov 14, 2002 It is called parallel importing. Until brand owners make prices the same the world over, a Swiss high tech startup company has come up with a way to foil modern day brand pirates. The profits in parallel importing lie in price differences between countries. Brand name and luxury items meant for the US or Singapore…

Minimalist cowshed helps needy farmers

This content was published on Nov 14, 2002 The modular shed, which costs half the price of a traditional barn, is designed to help them survive falling milk prices and increased competition. The Meili Minimalist Cowshed has already been in use for nine months at a farm near Anwil, about 30 kilometres south east of Basel – and early impressions have been positive.…

Credit Suisse crashes to record loss

This content was published on Nov 14, 2002 The figure, which was worse than analysts had feared, included a SFr1.4 billion loss at the group’s struggling Winterthur insurance business. Credit Suisse also announced on Thursday that it had appointed Leonhard Fischer, former head of investment bank Dresdner Kleinwort Wasserstein, as the new chief executive officer at Winterthur to turn around its flagging fortunes.…

Swiss study links social class to early death

This content was published on Nov 13, 2002 The Catholic charity, Caritas, said the findings were clear evidence that blue-collar workers should be allowed to retire earlier. Although the findings come as no great surprise – the link between poverty and earlier death has been well documented – Jürg Krummenacher, Caritas director, says it is the first time that data from 16 cantons…

Swiss discover new fondness for football

This content was published on Nov 13, 2002 Wednesday’s press reaction to Basel’s 3-3 draw against Liverpool was understandably euphoric, given that it’s the first time a Swiss club has come so far in the big league. Not content with splashing superlatives in Basel’s colours across its front page, the tabloid “Blick” was so head over heels about the team’s showing that it…

Bear market scares equity investors

This content was published on Nov 12, 2002 Since 2000, the total number of shareholders in Switzerland has fallen by 25 per cent to 1.3 million. About one in four Swiss residents between the ages of 18 and 74 now own equities, according to a study by the Swiss Banking Institute. However, the Institute, which is part of Zurich University, said it would…

Swiss business gains on the competition

This content was published on Nov 12, 2002 In its 2002 report the WEF ranked Switzerland sixth in terms of global competitiveness, up nine places from last year’s 15th position. Heading the table was the United States, which overtook Finland as global leader. Taiwan, Singapore and Sweden all made the top five. Innovation WEF spokesman Peter Cornelius said that one of Switzerland’s key…

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Credit Suisse reaches bottom

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Campaigners say keep water public

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Girls take steps towards jobs for the boys

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Swiss dots foil counterfeiters

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Minimalist cowshed helps needy farmers

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Credit Suisse crashes to record loss

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Swiss study links social class to early death

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Swiss discover new fondness for football

More

Bear market scares equity investors

More

Swiss business gains on the competition

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