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Strike by Swiss staff hits flights from Geneva

This content was published on Feb 24, 2005 The four-hour stoppage came amid growing industrial unrest at the airline, which last month announced plans to axe up to 1,000 jobs by 2007. Union leaders said 25 maintenance staff downed tools in protest at what they described as “shabby treatment” by management. Rémy Pagani, secretary of the Public Workers’ Union, said Swiss had failed…

Troubled Converium appoints new CEO

This content was published on Feb 24, 2005 A statement issued on Thursday said current board member Terry Clarke would take over from Dirk Lehmann with immediate effect. “The board believes that a management change is necessary to bring about a long-term cultural transformation and restore stakeholder confidence in the company,” said chairman of the board Peter Colombo. Clarke, a board member since…

Nestlé profit rises despite slight drop in sales

This content was published on Feb 24, 2005 But sales revenue fell to SFr86.77 billion from nearly SFr88 billion in 2003, weighed down by flagging demand in Europe and a weak dollar. Announcing the figures on Thursday, Nestlé said it would launch a SFr1 billion share buyback programme later this year. The world’s largest food company said there could be more buybacks to…

Swissmem says EU no vote would be disaster

This content was published on Feb 23, 2005 But Johann Schneider-Ammann of the industry umbrella group Swissmem warns against a “no” vote to a labour accord between Switzerland and the European Union. Swissmem bosses told a news conference in Zurich on Wednesday that their 290 member companies in the mechanical and engineering industries had seen a 7.1 per cent increase in orders for…

No extra money for export promotion

This content was published on Feb 23, 2005 The cabinet, at its weekly meeting on Wednesday, recommended giving a total of SFr34 million ($29.3 million) to the Osec Business Network Switzerland for the two-year period 2006-2007. Economics Minister Joseph Deiss said the cabinet had also endorsed recommendations by the finance ministry to improve both the structure and management of Osec. The ministry wants…

Animals receive guidance from the stars

This content was published on Feb 23, 2005 The former business manager, who lives in Engelswilen, focuses on relationships between pet owners and their horses, dogs and cats. Clients often consult the stars for insights into the sporting ability of a horse, or tips on dog training. Occasionally farmers ask Liechti to cast horoscopes for their cows, to examine their milk production potential…

Swisscom to enter joint venture with Belgacom

This content was published on Feb 23, 2005 Swisscom Fixnet will hold 28 per cent of the shares – but around 100 jobs are expected to be lost in Switzerland as a result of the move. Belgacom will hold the remaining 72 per cent in the firm, which is to be headquartered in Belgium. There will be a satellite office in Switzerland. The…

Novartis aims to corner generics market

This content was published on Feb 21, 2005 The Basel-based company announced on Monday that it would shell out nearly SFr10 billion (almost $8.5 billion) – in cash – to secure its position as the world’s leading producer of generic drugs. The decision to buy privately-owned German company Hexal and its United States strategic partner, Eon Labs – two-thirds now and one third…

Customs search for products with banned dye

This content was published on Feb 21, 2005 The Federal Health Office said on Monday that only one of the 359 products included in the biggest recall in British history had made its way to Switzerland. Last week London forwarded the Swiss a list of items that could contain Sudan 1, a dye which has been linked to an increased risk of cancer…

New biopharmaceutical firms still attractive

This content was published on Feb 21, 2005 The investment trend that sees the largest proportion of venture money flowing to life science, at the expense of other high-tech segments, looks set to continue. Last year, the biopharmaceutical segment attracted a total of €120 million (SFr 184.5 million) or 66 percent of the annual totals. In 2004, venture investment in Switzerland was SFr281…

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Strike by Swiss staff hits flights from Geneva

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Troubled Converium appoints new CEO

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Nestlé profit rises despite slight drop in sales

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Swissmem says EU no vote would be disaster

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No extra money for export promotion

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Animals receive guidance from the stars

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Swisscom to enter joint venture with Belgacom

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Novartis aims to corner generics market

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Customs search for products with banned dye

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New biopharmaceutical firms still attractive

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