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Publigroupe expects large loss over year

This content was published on Oct 31, 2001 In September, the Lausanne-based company had said it expected to make a profit of around SFr25 million ($15.4 million) but the current economic uncertainty forecast Wednesday’s revision. Profit last year was SFr140 million. Publigroupe also announced the intended divestment of its United States unit, Real Media Group, to 24/7 Media in return for a 15…

Geneva: a place for peace

This content was published on Oct 31, 2001 “Geneva: a Place for Peace”, has been timed to coincide with the 100th anniversary of Henry Dunant, the founder of the International Committee of the Red Cross, receiving the first Nobel Peace Prize. “The people of Geneva should be proud of being in such a unique city, but they aren’t always aware of its importance,”…

Best of Swiss tourism receives “milestone” awards

This content was published on Oct 30, 2001 The first prize went to Yvan Aymon for his project “Excellence in the Valais”, which the jury said motivates small and medium sized businesses in the canton to live up to quality control standards. Aymon was awarded SFr10,000 ($6,188). The winner of the best newcomer category went to Ladina Giovanoli, a product manager for Switzerland…

Central bank cuts growth forecast in half

This content was published on Oct 30, 2001 The economy is now expected to grow by one per cent instead of the two per cent estimated by the SNB in August, according to the Bank’s vice president, Bruno Gehrig. Speaking in Frankfurt on Tuesday at the Swiss-German Economics Club, Gehrig said the weak global economy was responsible for the lower forecast. “Experience shows…

Court paves way for rash of lawsuits against Sulzer Medica

This content was published on Oct 30, 2001 The ruling by the federal appeals court is a blow to the medical technology company, which had attempted to settle out-of-court claims arising from faulty product recalls. It overturns a temporary injunction granted by a lower court that had blocked individual suits while a settlement was under discussion. Sulzer Medica in August proposed a $780…

Georg Fischer issues profit warning

This content was published on Oct 30, 2001 “Since the publication of the our first-half results,” said a company statement, “conditions in our markets have gradually deteriorated.” It added that there was increasing uncertainty in American, Asian and European markets since the September 11 attacks. It pointed out that last year’s figures had been boosted by an exceptional first quarter. Georg Fischer made…

Serono cuts profit forecast

This content was published on Oct 30, 2001 The Geneva-based company says it now expects full-year profit growth to come in at between six to eight per cent rather than the 20 per cent forecast earlier. It said spending on its flagship multiple sclerosis treatment, Rebif, in the United States and lower interest rates had forced a rethink. Serono reported a 13 per…

Aid groups urge fair deal for poor nations at WTO meeting

This content was published on Oct 29, 2001 In a high-profile appeal on behalf of poorer countries, the head of the International Labour Organisation (ILO), Juan Somavia, said urgent action was needed to stimulate the ailing world economy, and that developing countries must play a part in that process. “We must act quickly to revive the economy, and measures must not be restricted…

Subsidiaries floundering after Swissair collapse

This content was published on Oct 29, 2001 No details were disclosed but the head of the task force, Swiss finance director Peter Siegenthaler, is due to answer questions from the media on Tuesday morning. Top of the agenda on Monday was the financial plight of three Swissair subsidiaries – the maintenance division, SR Technics, the Atraxis software producer and the ground handling…

Kudelski shares take off on news of US deal

This content was published on Oct 29, 2001 Kudelski’s stock closed at SFr98.90 after opening the session at SFr105. Analysts said the American deal had the potential to substantially increase Kudelski’s client base. Its US customers currently number 23 million but analysts say the Echostar transaction could boost the figure to 34 million. General Motors agreed on Sunday to sell its satellite television…

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Publigroupe expects large loss over year

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Geneva: a place for peace

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Best of Swiss tourism receives “milestone” awards

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Central bank cuts growth forecast in half

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Court paves way for rash of lawsuits against Sulzer Medica

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Georg Fischer issues profit warning

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Serono cuts profit forecast

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Aid groups urge fair deal for poor nations at WTO meeting

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Subsidiaries floundering after Swissair collapse

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Kudelski shares take off on news of US deal

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