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Aigrain steps down as Swiss Re CEO

This content was published on Feb 12, 2009 At the same time as last week’s news, the troubled Zurich-based reinsurer also announced that United States investor Warren Buffett was injecting new capital of SFr3 billion into the group. Swiss Re said on Thursday that deputy CEO Stefan Lippe had been appointed to replace Aigrain. “Having taken measures to reinforce the group’s capital strength…

Swiss banking giants continue freefall

This content was published on Feb 11, 2009 Observers were sceptical about claims from both banks that they could recover in 2009, especially UBS’s intention to post a profit one year after losing a record amount of money for a Swiss company. UBS put in the worst performance last year, reporting nearly SFr20 billion ($17.3 billion) in losses after generating billions from a…

Government offers fresh boost to economy

This content was published on Feb 11, 2009 The lion’s share of the stimulus package will be directed at transport. The measures are expected to be approved by parliament next month. They are necessary, the government said, as the economic outlook has worsened since the first phase worth SFr341 million was introduced in November. The rescue package echoes what is taking place around…

Shoemaking as a family tradition

This content was published on Feb 11, 2009

Waterways draw record passenger numbers

This content was published on Feb 11, 2009 The Public Transport Information Service (Litra) said the start of the season had been difficult because of the Euro 2008 football championships in the country and unfavourable weather conditions. It noted that winter traffic had contributed to the good result, with many people commuting on boats daily. The Lake of Lucerne was the most frequented…

Nobel Biocare posts disappointing results

This content was published on Feb 11, 2009 The Zurich-based firm, which is the world leader in its sector, missed expectations as cash-strapped customers continued to cut spending on its top-of-the-range treatments. The group, which also makes bridges and crowns, reported a turnover of €619.2 million, down from €665.9 million in 2007. In a statement on Wednesday, Nobel Biocare said it could not…

Credit Suisse makes bigger than expected loss

This content was published on Feb 11, 2009 Switzerland’s second-largest bank after UBS blamed the result on a poor trading performance and restructuring charges. Analysts had been forecasting a full-year net loss of around SFr6 billion and a loss of SFr4 billion for the fourth quarter. UBS on Tuesday reported a net loss for 2008 of SFr19.7 billion, the worst result in Swiss…

Jatropha

This content was published on Feb 10, 2009 Jatropha is a family of succulent plants, shrubs and trees native to Central America grown in many warm climates including India and Africa. It is toxic but hardy and produces oily seeds that can be processed into fuel.

Government ends 2008 with record finances

This content was published on Feb 10, 2009 The finance ministry announced on Tuesday that the amount was SFr6.2 billion more than expected, a “crazy result”, said Finance Minister Hans Rudolf Merz when presented with the figures. The surplus came about largely thanks to total receipts soaring to SFr63.9 billion for 2008. That is an increase of ten per cent compared to the…

Restart of Big Bang Machine delayed again

This content was published on Feb 10, 2009 The Large Hadron Collider, also known as the Big Bang Machine, suffered a cooling malfunction just nine days after scientists turned it on in September 2008. The repair bill stands at around €20 million (SFr30.1 million). The machine, which took 13 years and €3 billion to build, runs for 27km under the Swiss-French border and…

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Aigrain steps down as Swiss Re CEO

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Swiss banking giants continue freefall

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Government offers fresh boost to economy

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Shoemaking as a family tradition

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Waterways draw record passenger numbers

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Nobel Biocare posts disappointing results

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Credit Suisse makes bigger than expected loss

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Jatropha

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Government ends 2008 with record finances

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Restart of Big Bang Machine delayed again

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