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Government foresees small budget surplus for next year

This content was published on Aug 29, 2001 The cabinet on Wednesday approved the 2002 budget, which envisages a surplus of SFr350 million ($210 million). Expenditure is expected to rise by 3.5 per cent to SFr50.6 billion, while revenue is set to reach SFr51 billion. Parliament is set to debate state finances, including the budget, during its regular winter session. The 2002 budget…

History, mystery unfold at endangered alpine museums

This content was published on Aug 29, 2001 Since that accident, more than 500 people have been killed on the Matterhorn – only a fraction of the toll throughout the Alps – but that first tragedy still draws fascinated visitors, and remains the museum’s most popular exhibit, despite the many other artefacts and paintings. Largely because of the Matterhorn tragedy and a collection…

Couchepin eyes interest rate cut

This content was published on Aug 29, 2001 He was quoted on Wednesday in the online version of the Berner Zeitung as saying that, in his personal opinion, a rate cut by the fully independent central bank would be appropriate, echoing comments made in an interview on Sunday. He reiterated that he assumed the economy would grow by 1.5 per cent this year,…

Couchepin says postal, telecom services unlikely to be privatised

This content was published on Aug 29, 2001 Couchepin also called on the National Bank to cut its interest rates, in a newspaper interview on Wednesday. He added that this was his personal opinion, as the bank is independent of the federal government. The minister said it was politically unfeasible to privatise the post office in Switzerland. Steps should have taken earlier towards…

Credit Suisse plans more cost cuts

This content was published on Aug 29, 2001 On Wednesday, CSFB vice chairman Richard Thornburgh noted that CSFB had cut about 3,000 positions since last year’s acquisition of the brokerage firm Donaldson, Lufkin and Jenrette. Under the recently appointed chief executive John Mack, Credit Suisse seeks further savings. An announcement on cuts will be made to CSFB staff next week, Thornburgh said, without…

Swissair anticipates losses

This content was published on Aug 29, 2001 Results for the airline and air catering group, due out on Thursday, are expected to reflect the global economic slowdown and the poor performance of Swissair’s foreign affiliates. Analysts’ estimates vary widely, given a welter of one-time charges and divestment income that will blur the tough conditions its core aviation business still faces. The results,…

Profits unravel at packaging group

This content was published on Aug 29, 2001 The Swiss firm blamed seasonal factors and a declining investment market while predicting that full-year sales would be basically in line with last year’s figure. Net profit this year would be slightly lower than that of 2000 when adjusted for the fact that last year’s profit of SFr129 million included some SFr70 million after taxes…

Top medical body supports research on surplus embryos

This content was published on Aug 29, 2001 In its latest guidelines, the Academy’s ethics committee has endorsed research on human embryos, produced by in vitro fertilisation. However, the organisation opposes the synthesis of embryos purely for research purposes, as well as therapeutic cloning. Human embryonic stem cell research is one of the most contentious areas of scientific investigation. It allows scientists to…

Swissair crash investigators issue safety recommendations

This content was published on Aug 28, 2001 Issuing new safety recommendations in the wake of the crash off the coast of Nova Scotia, the Transportation Safety Board of Canada said more should be done to prevent sparks or wiring problems turning into fatal fires. The new recommendations called for more stringent tests on electrical wires, stricter flammability standards on materials used in…

Roche denies any intent to buy Bayer unit

This content was published on Aug 28, 2001 The Basel-based company said in a statement on Tuesday that it has not held talks with Bayer about an acquisition or agreed to a meeting with the German company. Roche said it did not normally comment on market rumours, but made an exception in this case “to avoid the spread of further speculation generated by…

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Government foresees small budget surplus for next year

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History, mystery unfold at endangered alpine museums

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Couchepin eyes interest rate cut

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Couchepin says postal, telecom services unlikely to be privatised

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Credit Suisse plans more cost cuts

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Swissair anticipates losses

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Profits unravel at packaging group

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Top medical body supports research on surplus embryos

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Swissair crash investigators issue safety recommendations

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Roche denies any intent to buy Bayer unit

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