Internal: Archive

Britain keeps up pressure against banking secrecy

This content was published on Nov 7, 2002 Brussels is keen to clamp down on tax cheats who use non-EU countries to squirrel away savings. But the Swiss government says banking secrecy is “not negotiable” and has instead proposed a withholding tax on EU citizens’ interest earnings in Switzerland. The Swiss would then pass the tax revenue back to the EU citizen’s home…

Swiss fear double-dip recession

This content was published on Nov 7, 2002 New economic data – including the announcement that the jobless rate hit three per cent in October – has cast a pall over the country’s economic outlook. Adding to the nervousness is the fact that Swiss household debt has reached record levels, most of it involving high-interest consumer debt. Pressure is also mounting on the…

Swiss Life hands reins to new boss

This content was published on Nov 6, 2002 The scandal has also claimed the scalp of a political party boss, who is on the board of Swiss Life. Swiss Life said Chlapowski’s departure was essential to restore the confidence of investors and customers, following the scandal surrounding a secretive investment vehicle for top managers and recent accounting errors. Reeling from the scandal and…

Swiss Life scandal claims scalp of party boss

This content was published on Nov 6, 2002 The Radicals, one of the four parties in government, were said to have demanded Bührer’s resignation because he is a board member of the troubled insurer. “After considerable thought… I have decided to step down as president of the party,” said Bührer. “This decision was not caused by pressure, but rather the request of my…

SR Technics sold to British group

This content was published on Nov 6, 2002 3i, which will be the majority shareholder, will pay SFr618 million ($423.7 million) for the company, whose staff will retain a 12 per cent stake. Another small private equity firm, Star Capital, will become a minority shareholder. SR Technics employs 2,900 people and expects turnover to reach SFr1.1 billion this year. It services among others…

Banker takes over at Swiss Life

This content was published on Nov 6, 2002 The 45-year-old lawyer heads up the bank’s corporate and retail banking sector, and is chairman of its Swiss activities. Dörig’s entire career has been in corporate and retail banking. He undertook various regional responsibilities before taking over as head of communications for the Credit Suisse Group (CSG) in 1997. Two years ago, he became CEO…

Centerpulse settles with faulty implant patients

This content was published on Nov 6, 2002 The move marks the end of a lengthy litigation battle over faulty joint implants that had cast a shadow over the Zurich-based company. The 16 patients had all undergone replacement surgery, but had refused until now to take part in the settlement. According to Centerpulse, there are still 43 claims pending from patients who did…

Swiss turn out in force in Florence

This content was published on Nov 6, 2002 Swiss banking secrecy and the question of tax evasion were among topics tabled for discussion during the five-day meeting. Anti-war protest But the highlight of the forum was a huge demonstration against a possible war in Iraq on Saturday. Hundreds of thousands took part in the peaceful protest, sparking major security concerns and almost bringing…

Swiss Life bosses plan damage limitation

This content was published on Nov 5, 2002 Media reports say not all board members were told about the vehicle, which made millions for a select few top bosses. Board of directors chairman, Andres Leuenberger, said that the meeting was going ahead on Tuesday evening. But he said that he could not confirm whether any resignations were on the agenda and added that…

Global pact to end illicit diamond trade

This content was published on Nov 5, 2002 At a meeting in Interlaken, more than 50 countries agreed to a new policing system to track the origin of diamonds and stamp out illicit trading. All uncut diamonds will now have to carry certification to prove they have not come from countries or groups that use the proceeds to purchase weapons. From January 1,…

Internal: Archive

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Internal: Archive

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Britain keeps up pressure against banking secrecy

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Swiss fear double-dip recession

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Swiss Life hands reins to new boss

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Swiss Life scandal claims scalp of party boss

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SR Technics sold to British group

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Banker takes over at Swiss Life

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Centerpulse settles with faulty implant patients

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Swiss turn out in force in Florence

More

Swiss Life bosses plan damage limitation

More

Global pact to end illicit diamond trade

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