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Economists unenthusiastic about bank rescue

This content was published on Oct 4, 2008 They are warning that the $700 billion (SFr767 billion) package rewards mismanagement and will delay necessary consolidation. The House had unexpectedly rejected the plan on Monday night, but was then persuaded to accept an amended version. The Senate passed the package on Wednesday. Yvan Lengwiler, an economist from Basel University, wrote in the German-language Neue…

UBS slashes 2,000 more jobs

This content was published on Oct 3, 2008 The move comes just one day after an extraordinary meeting in Basel, where executives assured shareholders that UBS had a plan in place to recover from recent losses totalling $43 billion (SFr49 billion). UBS officials had made no mention of the additional cuts, but media speculation had suggested the move, which was confirmed by the…

Swiss-French cross-border scheme launches

This content was published on Oct 2, 2008 The Interreg IV France-Switzerland 2007-2013 agreement supports the creation of long-term cross-border business, training, environmental and urban planning projects. It is designed to improve the living standards of the 4.7 million Swiss and French people who live in the catchment area. But despite local enthusiasm for cross-border cooperation, Switzerland’s federal government is accused of continuing…

Evolution is in the eye of the beholder

This content was published on Oct 2, 2008 In many species the male’s mating fortunes are decided by looking impressive. A study of brightly coloured fish has now shown that this has less to do with aesthetics than with the sensitivity of female eyes, which varies as a result of adaptation to the environment. Researchers at the Swiss Federal Institute of Aquatic Science…

UBS outlines recovery plan to shareholders

This content was published on Oct 2, 2008 The bank, that has lost some $43 billion (SFr49 billion) in the subprime mortgage crisis, made no mention of further writedowns or job losses at the extraordinary general meeting held in Basel on Thursday. The third shareholders meeting of 2008 was called to announce details of a new strategic approach and to vote on new…

UBS announces it’s back in the black

This content was published on Oct 2, 2008 The bank, badly hit by the United States subprime crisis, said in a statement on Thursday that it had “substantially reduced” its US commercial and residential mortgage-related assets, mainly through disposals. It repeated that it expected 2009 would be an overall profitable year. The statement came ahead of an extraordinary shareholders’ meeting at which new…

Pulling the plug on the Ilisu dam project

This content was published on Oct 2, 2008 Four engineering and consulting firms supply SFr225 million ($202 million) in goods and services – alongside other companies from European countries – and benefit from state insurance cover. Development aid organisations and parliamentarians accuse Turkey of reneging on international social and environmental standards despite repeated pledges since 2006. They say Switzerland’s credibility is at stake…

Bank bail-out plan was “badly directed”

This content was published on Oct 1, 2008 The head of the Swiss Institute of Banking and Finance at St Gallen University believes that a more efficient use of taxpayers’ money would be to direct emergency funds at bailing out only the weakest banks rather than buying up bad debt across the board. Professor Manuel Ammann has warned of more banks collapsing and…

Kuoni travels on with British acquisition

This content was published on Oct 1, 2008 The purchase come just a day after Zurich-based Kuoni said it was securing a foothold in the Australian market by buying Australian Tours Management (ATM) of Melbourne. Kuoni said in a statement on Wednesday that the British deal further strengthened the group’s position in the premium segment. Founded in 1980, Carrier expects to report SFr72…

Daily life lifts off with 50-year-old Nasa

This content was published on Oct 1, 2008 The National Aeronautics and Space Administration turns 50 years old on Wednesday. Funded by the United States government, the space agency sends men, women and satellites and probes into space. Over the past decades Nasa has also helped launch a bevy of services, products and conveniences that influence us, even if we never see them.…

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Internal: Archive

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Economists unenthusiastic about bank rescue

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UBS slashes 2,000 more jobs

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Swiss-French cross-border scheme launches

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Evolution is in the eye of the beholder

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UBS outlines recovery plan to shareholders

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UBS announces it’s back in the black

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Pulling the plug on the Ilisu dam project

More

Bank bail-out plan was “badly directed”

More

Kuoni travels on with British acquisition

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Daily life lifts off with 50-year-old Nasa

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