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French group to buy Swiss watchmaker

This content was published on Sep 13, 1999 (AP) — Swiss sports watch manufacturer TAG Heuer International SA said Monday it had accepted a takeover offer of SFr1.158 billion ($747 million) from a French company. Paris-based luxury products group LVMH Moet-Hennessy Louis Vuitton made the offer of SFr215 per share. TAG Heuer had asked for its shares to be suspended on the Zurich…

Voluntary measures to save energy a success

This content was published on Sep 13, 1999 For the first time in nearly a decade, voluntary measures to save energy have outweighed the consumption curbs imposed by regulations in Switzerland, the authorities said Monday. The Federal Office for Energy said the efficiency of the government’s Energy 2000 programme was up by 30 percent, and that the targets could be reached if additional…

Study finds new taxation needed to offset environmental costs caused by cars

This content was published on Sep 13, 1999 A newly released study proposes that private car owners using Swiss roads should be taxed in a more efficient way in order to offset billions of Swiss francs in environmental damage caused annually by vehicle owners. The Swiss National Science Foundation, presenting its findings at a news conference in Berne, underlined the fact that the…

Economics Minister confident about Swiss financial market

This content was published on Sep 10, 1999 Economics Minister Pascal Couchepin praised Swiss banking and said that Switzerland’s reputation as a financial market place remained intact. But the Swiss Bankers Association said at its annual conference that there were clearly image problems at home. Addressing about 600 bankers and business leaders in Zurich, Couchepin said there could be no question of easing…

Swiss parcel service plagued by sorting problems

This content was published on Sep 10, 1999 Three post office executives are leaving the nationalised corporation at the end of September, following months of software and hardware problems in centralised parcel sorting centres. The new high-tech centres were set up as the post office’s answer to stiff competition from international express parcel firms. The Swiss post office used to be part of…

Swissair files complaint against entertainment system suppliers

This content was published on Sep 9, 1999 (AP) — Swissair said Thursday it has filed a `precautionary’ complaint against the suppliers of an in-flight entertainment system that was installed on the MD-11 jet which crashed last year off the coast of Canada. Complaints against the supplier, Interactive Flight Technologies Inc., the company which installed the system, Hollingsead International and the company which…

Unemployment rate drops to seven-year low

This content was published on Sep 9, 1999 The unemployment rate in Switzerland dropped to 2.4 percent in August, the lowest such figure since 1992. The latest figures released by the State Secretariat in the Economics Ministry showed that 87,487 people were registered as out of work in August, the last month for which official data is available. The secretariat said that the…

Credit Suisse reports first-half profit up 11 percent

This content was published on Sep 8, 1999 (AP) — Credit Suisse Group AG said Wednesday it boosted its first-half net profit by 11 percent from last year to SFr2.665 billion ($1.78 billion). Last year’s first-half figure was SFr2.4 billion ($1.6 billion). Net operating profit rose by 10 percent to SFr13.8 billion ($9.2 billion), Credit Suisse said. But the banking giant said its…

Experts estimate Swiss may vote online within 15 years

This content was published on Sep 7, 1999 Information technology experts believe that Swiss voters may be able to cast their ballots via the Internet within 15 years. But they warn that public confidence in online polls must first be gained through watertight security. Experts from the Federal Institute of Technology, discussing the issue at a symposium in Zurich on Tuesday, underlined the…

Health insurance costs expected to increase again

This content was published on Sep 7, 1999 Health insurance costs, which already pose a major financial burden for most Swiss families, are expected to rise again next year, with analysts forecasting an average increase of 3 to 4 percent for basic insurance. Basic insurance – as opposed to supplementary insurance service — is compulsory for people living in Switzerland. The Federal Social…

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French group to buy Swiss watchmaker

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Voluntary measures to save energy a success

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Study finds new taxation needed to offset environmental costs caused by cars

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Economics Minister confident about Swiss financial market

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Swiss parcel service plagued by sorting problems

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Swissair files complaint against entertainment system suppliers

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Unemployment rate drops to seven-year low

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Credit Suisse reports first-half profit up 11 percent

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Experts estimate Swiss may vote online within 15 years

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Health insurance costs expected to increase again

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