Cluster: Archive

Centerpulse claws back US market share

This content was published on Nov 8, 2002 The firm, which changed its name from Sulzer Medica partly to improve its image, said its market share in the US rose by over 12 per cent in nominal terms in the third quarter. Europe’s largest maker of orthopaedics products saw net profits climb by 9.8 per cent in the third quarter to SFr22.7 million…

ABB to axe 10,000 jobs

This content was published on Nov 8, 2002 ABB, based in Zurich, on Friday scaled down its earnings targets for the next three years and said it aimed to cut its debts to $4 billion (SFr5.8 billion) by 2005. ABB said that between 9,000 and 12,000 jobs would be cut – mostly abroad. In Switzerland no more than 550 jobs were expected to…

Swiss Life scandal claims another victim

This content was published on Nov 8, 2002 On Wednesday, the troubled insurer appointed banker, Rolf Dörig, as its new CEO, after ousting Roland Chlapowski. The scandal has also claimed the scalp of a political party boss, who is on the board of Swiss Life. Leuenberger announced his departure at a manager’s meeting on Thursday night. Swiss Life said in a statement that…

New beamline promises faster drug development

This content was published on Nov 7, 2002 The PSI is building a second machine for scientists investigating the structure of proteins. The device, known as a beamline, delivers high-intensity x-rays so that they can penetrate tiny protein crystals and reveal their composition. Switzerland’s pharmaceutical giants, Novartis and Roche, have joined forces with the Max Planck Society in Germany to finance the new…

Cutting edge technology sheds light on matter

This content was published on Nov 7, 2002 The SLS is able to probe the fundamental structure of matter with x-rays. For most tasks, it is the most advanced machine of its kind in the world. “Within its energy range, it will be the world-leading machine for a couple of years, allowing us to do top-level research,” said the institute’s director, Professor Meinrad…

Wuffli on corporate governance

This content was published on Nov 7, 2002 UBS has escaped the criticisms levelled at many firms in the wake of the Enron collapse, unlike several other Swiss companies, such as ABB and the collapsed Swissair. Senior executives who have fallen from grace include Rolf Hüppi at Zurich Financial Services, financier Martin Ebner and ABB chief Jörgen Centermann. In April, the Swiss Stock…

Britain keeps up pressure against banking secrecy

This content was published on Nov 7, 2002 Brussels is keen to clamp down on tax cheats who use non-EU countries to squirrel away savings. But the Swiss government says banking secrecy is “not negotiable” and has instead proposed a withholding tax on EU citizens’ interest earnings in Switzerland. The Swiss would then pass the tax revenue back to the EU citizen’s home…

Swiss fear double-dip recession

This content was published on Nov 7, 2002 New economic data – including the announcement that the jobless rate hit three per cent in October – has cast a pall over the country’s economic outlook. Adding to the nervousness is the fact that Swiss household debt has reached record levels, most of it involving high-interest consumer debt. Pressure is also mounting on the…

Swiss Life hands reins to new boss

This content was published on Nov 6, 2002 The scandal has also claimed the scalp of a political party boss, who is on the board of Swiss Life. Swiss Life said Chlapowski’s departure was essential to restore the confidence of investors and customers, following the scandal surrounding a secretive investment vehicle for top managers and recent accounting errors. Reeling from the scandal and…

Swiss Life scandal claims scalp of party boss

This content was published on Nov 6, 2002 The Radicals, one of the four parties in government, were said to have demanded Bührer’s resignation because he is a board member of the troubled insurer. “After considerable thought… I have decided to step down as president of the party,” said Bührer. “This decision was not caused by pressure, but rather the request of my…

Cluster: Archive

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Cluster: Archive

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Centerpulse claws back US market share

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ABB to axe 10,000 jobs

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Swiss Life scandal claims another victim

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New beamline promises faster drug development

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Cutting edge technology sheds light on matter

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Wuffli on corporate governance

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Britain keeps up pressure against banking secrecy

More

Swiss fear double-dip recession

More

Swiss Life hands reins to new boss

More

Swiss Life scandal claims scalp of party boss

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