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Swiss – key dates and decisions

This content was published on Jun 24, 2003 Here are some of the decisive moments in the turbulent history of Switzerland’s national carrier: March 2002 Swiss takes to the skies following the amalgamation of Crossair and the remains of Swissair, which collapsed in 2001. The carrier begins operations with 26 former Swissair jets and 76 Crossair planes. The company employs 12,000 people, of…

Swiss told to value young immigrants

This content was published on Jun 24, 2003 It has issued a series of recommendations aimed at improving their negative image and integrating them better into Swiss society. In its 80-page report published on Tuesday, the Federal Commission for Youth stressed that the basic rights of young foreigners were being ignored. It called for them to be granted special legal status. “We must…

ABB asbestos settlement close

This content was published on Jun 24, 2003 The decision, which is subject to additional information being provided, could pave the way for the multinational to clear up its financial woes. ABB spokesman Wolfram Eberhardt told swissinfo the company was satisfied with the decision and that its legal team was consulting Judge Judith Fitzgerald’s ruling, which is over 60 pages long. “We are…

Swiss wields heavy axe

This content was published on Jun 23, 2003 Union officials unveiled the carrier’s decision to slash a third of its workforce, which came after a board meeting on Monday. Union representative Daniel Vischer told Swiss television of the cuts after a closed-door meeting with company executives on Monday evening. “Swiss is in the same position as Swissair in October 2001, when the airline’s…

Swiss restructuring plans open to question

This content was published on Jun 23, 2003 Shares in Swiss were suspended from trade on Monday and Tuesday, as the airline’s board finalised a plan to stem daily losses of more than SFr3 million. Swiss chief executive, André Dosé, is expected to announce wide-ranging cuts to the airline’s network. As the company prepares to unveil its new business plan, swissinfo takes a…

Swiss prepares for deep cuts

This content was published on Jun 23, 2003 Weekend media reports said Swiss could slash up to a third of its staff and fleet in an effort to save SFr500 million ($376 million) by the end of year. Shares in Swiss were suspended from trade on Monday and Tuesday, as the airline’s board finalised a plan to stem daily losses of more than…

Gramm says Europe and US need each other

This content was published on Jun 23, 2003 Gramm, who is vice-chairman of UBS Investment Bank, added that few nations were more closely bound economically than Switzerland and the US. “Do people buy products and invest based on hurt feelings and political differences? I think happily the answer is no,” he told the annual meeting in Zurich of the Swiss-American Chamber of Commerce.…

Winterthur sells another portfolio jewel

This content was published on Jun 23, 2003 Winterthur will receive SFr2.2 billion ($1.7 billion) once the transaction has gained regulatory and anti-trust approval later in the year. The sale comes almost a fortnight after the Swiss insurer relinquished its strong British performer, Churchill Insurance, to the Royal Bank of Scotland for SFr2.4 billion. The combined sales are set to strengthen Winterthur’s solvency…

Swiss banks name new president

This content was published on Jun 23, 2003 Mirabaud will replace Georg Krayer, who on Monday announced his decision to quit after eleven years in the post. The bankers association is one of Switzerland’s leading business lobbies, and has been actively involved in tackling controversial issues such as banking secrecy and the row surrounding dormant accounts dating back to the Second World War.…

Swiss biotech gathers in Washington

This content was published on Jun 23, 2003 More than 3,300 delegates from 50 countries, including scientists, investors and ministers have descended on Washington for Bio 2003. The four-day conference, which opened on Sunday, is hosting the largest gathering of Swiss biotech professionals ever held outside Europe. “It gives Switzerland a chance to showcase its expertise,” John Williamson of the economic development agency,…

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