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Swissair shares continue freefall

This content was published on Sep 3, 2001 Analysts say investors are worried about the company’s debt position and the low cash flows of core operations. Swissair’s financial commitment towards its under-performing German affiliate, LTU, adds to the concern. Moody’s investor services on Friday cut Swissair’s rating, and the Zurich Cantonal Bank has downgraded the stock to reduce from neutral. Swissair’s CEO, Mario…

Economics minister casts doubt on success of trade talks

This content was published on Sep 3, 2001 Couchepin made the comments after returning from a weekend trip to Mexico, where he had joined in informal talks with his counterparts from 18 other countries. “I am not of the opinion that we have managed to create a dynamism which would allow us to achieve a moderate success in Qatar,” Couchepin said. A failure…

Ascom reveals poor first-half performance

This content was published on Sep 3, 2001 A company statement said the loss was not unexpected but some analysts had forecast net earnings at above SFr30 million. The figure released on Monday compared with earnings of SFr60 million for the first half of 2000. Ascom said it expected losses to mount for the year as a whole following more restructuring costs and…

Executive cites “critical” need for more international schools

This content was published on Sep 3, 2001 “The situation is critical,” Gisiger, speaking for the Group of Multinational Employers, told the Swiss-American chamber of commerce. “Many companies are losing patience.” Gisiger, who works for Caterpillar, says Geneva-area international schools can accommodate 6,000 to 8,000 English-speaking students, but that is far from sufficient. He warns that, with executives already facing a housing shortage…

Road pricing idea causes outrage

This content was published on Sep 2, 2001 The suggestion, by the Economics Minister, Pascal Couchepin, unleashed a media storm – one newspaper even carried a cartoon depicting Couchepin manning a medieval style toll booth. Katja Mäder, spokeswoman for the minister, says she and her colleagues were taken by surprise at the reaction. “Pascal Couchepin mentioned road pricing at a cabinet meeting when…

Funicular offers white-knuckle ride

This content was published on Sep 1, 2001 Constructed in 1926 to help build the Gelmer dam and the Handeck hydroelectric power station, the Kraftwerke Oberhasli’s (KWO) Gelmerbahn has opened to the public for the first time in 75 years. Thanks to an investment of SFr800,000, the funicular, located a few kilometres outside the town of Innertkirchen, now gives up to 180 people…

Swissair chief plans to hike ticket prices

This content was published on Sep 1, 2001 In an interview with the Swiss “Tages-Anzeiger” newspaper on Saturday, Corti outlined a new strategy to reinforce Swissair’s market position as a quality airline aimed at the top end of the market. “We must have the courage to separate ourselves from our competitors through our services and prices,” Corti said. He pointed out that in…

Mixed reaction to probe into Switzerland’s wartime past

This content was published on Sep 1, 2001 The eight studies, published in Bern on Thursday, show how economic, financial and trade agreements struck with Germany and Italy in 1934 and 1935 helped the Axis powers to fund their war efforts. The studies also reveal that Swiss industry cooperated with the Nazi regime, particularly through its subsidiaries in Germany. They are the first…

Roche agrees to lower price of Aids drug in Brazil

This content was published on Sep 1, 2001 The announcement comes a week after Brazil’s health minister, Jose Serra, said he would employ a clause in the country’s 1997 intellectual property law that allows patents to be broken in cases of national emergency or when companies employ abusive pricing policies. At a press conference in Rio de Janeiro, Serra said the government would…

Protein research offers hope to stroke victims

This content was published on Aug 31, 2001 The work is a collaboration between the dermatology and psychiatry departments of Geneva University. About 17,000 people a year in Switzerland suffer a stroke. In the United States, some 600,000 people a year are affected. Some strokes are fatal while others cause permanent or temporary disabilities, affecting mobility, speech, vision and even understanding. “We have…

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Swissair shares continue freefall

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Economics minister casts doubt on success of trade talks

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Ascom reveals poor first-half performance

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Executive cites “critical” need for more international schools

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Road pricing idea causes outrage

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Funicular offers white-knuckle ride

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Swissair chief plans to hike ticket prices

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Mixed reaction to probe into Switzerland’s wartime past

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Roche agrees to lower price of Aids drug in Brazil

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Protein research offers hope to stroke victims

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