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National exhibition hits new money troubles

This content was published on Feb 16, 2001 It’s the latest in a series of hitches, which has resulted in the exhibition being postponed for one year and has cast serious doubts over its future. The head of the management committee, Franz Steinegger, told a meeting of the governing parties that the exhibition was suffering cash-flow problems. He said that while preparations were…

Decisive week for SAirGroup and Sabena

This content was published on Feb 16, 2001 Last-minute brinkmanship will continue this week as the SAirGroup and the Belgian government await the outcome of talks between Sabena’s management and the unions on restructuring plans. The two shareholders of the troubled airline are hoping that unions will agree to cost-cutting measures ahead of a shareholders meeting called for Friday. The meeting is due…

Competition Commission calls for tougher penalties

This content was published on Feb 16, 2001 The call came on Friday at the presentation of the Commission’s annual report in Bern. “The Commission is convinced that a stronger cartel law would at long last be to the benefit of all, in particular to consumers, and small and medium-sized enterprises,” said Commission president Roland von Büren. It is calling on the government…

A tale of contrasting fortunes

This content was published on Feb 16, 2001 There were more choppy waters for the Swiss-Swedish technology company, ABB, as a slowdown in sales and lower-than-expected profits pushed the group’s shares sharply lower on the Swiss stock market. Sales were down 6 per cent on 1999 at SFr37.9 billion ($22.56 billion), while net profit rose six per cent to SFr2.38 billion. The group’s…

Health care and electricity come under the spotlight

This content was published on Feb 16, 2001 In its annual report published on Friday, the Commission, accuses market players in the health sector of trying to limit competition by making cartel-like agreements among themselves. It feels there is no incentive for competition in a situation in which health care schemes have a contractual obligation with doctors and hospitals. The Commission also makes…

Credit Suisse sells large multinational insurance business

This content was published on Feb 16, 2001 The business – Winterthur International – is being bought by the Bermuda-based financial group XL Capital for $600 million (SFr1 billion). A statement from Credit Suisse headquarters in Zurich said that after the sale of its active reinsurance business in 1998, this latest move would help Winterthur Insurance in its strategic efforts. These are now…

Novartis posts record profits

This content was published on Feb 15, 2001 At the presentation of its annual financial results in Basel, the company said sales in 2000 had risen by 10 per cent to reach SFr35.8 billion. The chairman and chief executive officer of Novartis, Daniel Vassella described the results as “excellent”. “As growth accelerated, sales, net income and free cash flow before acquisitions rose to…

Car sales drop by seven per cent

This content was published on Feb 15, 2001 Thursday’s report from the industry’s professional body warns that profits will be severely hit by reduced operating margins. The worsening situation is blamed on the saturation of the market. Dealers are advised to cut prices to increase sales. The industry’s association also said that carmakers and importers were demanding more investment from dealers in the…

Public endorses government plans to decriminalise cannabis

This content was published on Feb 15, 2001 The results of the study, presented in Bern on Thursday, reveal that a majority of Swiss voters support government moves to decriminalise cannabis. The survey, commissioned by the Swiss Institute for the Prevention of Alcohol and Drug Addiction, canvassed the opinions of 1,600 people between the ages of 15 and 74. It found that a…

Palm trees go wild in Ticino

This content was published on Feb 15, 2001 Scientists at the Federal Institute of Technology in Zurich say mild winters over the past 30 years have enabled foreign trees planted in public parks to gain a foothold in the wild. Among the species now growing in Ticino are the bay laurel, camphor tree laurel, cherry laurel, thorny silverberry and Chinese fan palm. All…

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National exhibition hits new money troubles

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Decisive week for SAirGroup and Sabena

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Competition Commission calls for tougher penalties

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A tale of contrasting fortunes

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Health care and electricity come under the spotlight

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Credit Suisse sells large multinational insurance business

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Novartis posts record profits

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Car sales drop by seven per cent

More

Public endorses government plans to decriminalise cannabis

More

Palm trees go wild in Ticino

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