Internal: Archive

Receiver calls for end to Swissair share trade

This content was published on Dec 7, 2001 Karl Wüthrich said on Friday they should have been taken off the market a long time ago. “There is no point in continuing to trade valueless shares,” he said. Following Wüthrich’s comments, Swissair shares lost some eight percent of their value in Zurich, and were trading at SFr3.50 ($2) on Friday. The shares reached their…

Crossair plane grounded in Sharm el Sheikh

This content was published on Dec 7, 2001 The airline confirmed on Friday that the plane – an MD-80, flight number LX8569 bound for Geneva – was being kept on the ground because of “hydraulic problems”. Spokesman Andreas Schwander said it was too early to say what the precise problems were, and that a team of technicians with spare parts had been dispatched…

Bouw promises to retain strengths of Crossair

This content was published on Dec 7, 2001 Bouw, who is a former boss of KLM from the Netherlands, said he had been “really impressed” by Thursday’s marathon meeting of Crossair shareholders in Basel, where he was elected. He said had much respect for Crossair staff in their support for their boss and founder of the airline, Moritz Suter, who stepped down in…

Central bank cuts rates again

This content was published on Dec 7, 2001 In the fourth rate cut this year, the central bank lowered its three-month London Inter-Bank Offered Rate, or Libor, to between 1.25 and 2.25 per cent. The bank said it would aim for the middle of the range. The cut had been expected as the economy has become increasingly sluggish. The low level of inflation…

New era for Crossair as board of directors steps down

This content was published on Dec 7, 2001 At the end of an emotional, six-hour extraordinary meeting attended by 2,500 Crossair shareholders at the St Jakobshalle in Basel, the chairman-elect Pieter Bouw said he and his new 11-member board would do everything possible to ensure the future development of the airline. “We should look ahead to a future not of conflict,” 60-year-old Bouw…

Woman gains coveted bank role

This content was published on Dec 6, 2001 Anne Marie de Weck, who has been in charge of private clients at Geneva’s second biggest private bank since January 1999, will become Lombard Odier’s eighth managing partner when she takes up her post on January 1, 2002. Managing partners at Swiss private banks are liable for the bank’s assets. Other private banks have female…

Doubt over Higgs boson existence dismissed

This content was published on Dec 6, 2001 The latest edition of the “New Scientist” magazine quotes researchers who have analysed data from CERN’s Large Electron Positron (LEP) accelerator as saying the Higgs boson “probably does not exist”. “It’s rubbish,” said John Ellis, a leading theoretical physicist at CERN, the European nuclear research centre, just outside Geneva. “The New Scientist has picked up…

Swisscom under investigation

This content was published on Dec 6, 2001 The Swiss Competition Commission (Comco) aims through the investigation to establish if the partially privatised, one-time telecom monopoly has violated competition law by attaching to its monthly line rental bills its own, targeted publicity. The opening of the investigation follows a complaint from rival telecom operator, Tele2, which first raised its objections to the publicity…

Assets fall at Baer

This content was published on Dec 6, 2001 The Swiss-based bank said on Thursday that it expected a “significant rebound” in earnings in 2002, after net profit for the first nine months of 2001 fell by “slightly more than half” compared with the same period a year ago. The bank, which is headquartered in Zurich, also said that it saw a surge in…

Portugal demands damages from Swissair

This content was published on Dec 5, 2001 The government has filed a lawsuit in Zurich, claiming the Swissair Group reneged on a commitment to take a 34 per cent stake in the state-owned airline TAP Air Portugal, according to a report in the Publico newspaper. The report comes a day after the French airline, Air Lib, and its parent company, Holco SAS,…

Internal: Archive

Popular Stories

Most Discussed

Internal: Archive

More

Receiver calls for end to Swissair share trade

More

Crossair plane grounded in Sharm el Sheikh

More

Bouw promises to retain strengths of Crossair

More

Central bank cuts rates again

More

New era for Crossair as board of directors steps down

More

Woman gains coveted bank role

More

Doubt over Higgs boson existence dismissed

More

Swisscom under investigation

More

Assets fall at Baer

More

Portugal demands damages from Swissair

Popular Stories

Most Discussed