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Swiss stock market takes a beating

This content was published on Mar 23, 2001 Analysts said Zurich Financial Service’s dismal results for 2000 played a role in the market’s fall. Zurich, which is Europe’s sixth biggest insurance company, lost a fifth of its market capitalisation after posting the results on Thursday. The group’s shares plummeted by 20.2 per cent with a closing price of SFr549. Switzerland wasn’t the only…

Geneva hopes to escape worst of cuts at Procter and Gamble

This content was published on Mar 23, 2001 “It’s too early to know the detailed implications for Geneva,” the company’s Geneva office said in a statement. However, it made clear that this “global restructuring programme in no way reduces our commitment to the Geneva Business Centre”. P&G announced that it would reduce staffing by 9,600 jobs worldwide, or nine per cent of its…

ABB wins $180 million order from Shell

This content was published on Mar 22, 2001 The order was part of a $1.4 billion investment in the Bonga project some 120 kilometres off the coast of Nigeria, ABB said in a statement on Thursday. ABB received the contract from Shell Nigeria Exploration and Production Company, which operates the field on behalf of the Nigerian National Petroleum Company, the concession holder. Deliveries…

Surprise cut in Swiss interest rates

This content was published on Mar 22, 2001 The SNB said it intended to keep its target range within the centre of the new band at around 3.25 per cent. Most economists had expected the bank to leave interest rates unchanged until after the European Central Bank (ECB) meeting next month. Andreas Höfert, an economist at UBS Warburg, told swissinfo that the SNB…

Mathematics is all in the brain

This content was published on Mar 22, 2001 Rafael Nunez, a psychologist at Fribourg University, and his co-author, George Lakoff, a linguist at the university of California, Berkeley, have shot to prominence with their book, “Where Mathematics Comes From”. The work challenges the notion that mathematics is the inaccessible language of the universe and contends that all mathematical ideas are elaborate metaphors drawn…

Shares dive as profits fall at Zurich

This content was published on Mar 22, 2001 Shares in Zurich dropped more than 20 per cent at SFr548, a drop of SFr142 at one stage on the Zurich Stock Market. Stocks in the company crashed through a three year low, as traders marked the insurance to banking group lower. Zurich had said that one-off factors totalling some $500 million would push earnings…

Patrizia Pesenti: Ticino is not a special case

This content was published on Mar 22, 2001 After graduating in law from Zurich University, she worked for 14 years as a juvenile court judge before her election in 1999 to the Ticinese government. “There have always been at least two myths associated with Ticino. According to one, we’re basically warm-hearted, sociable and creative people, living on Switzerland’s sun-drenched southern terrace. The second…

Nestlé to provide funding for Expo 02

This content was published on Mar 22, 2001 Earlier this week, the Swiss healthcare company, Novartis, pledged SFr15 million to the project. According to a communiqué issued on Wednesday, Nestlé plans to contribute SFr 4 million towards a project called ExpoGames 02 – a sporting exhibit which is expected to take place in Yverdon-les-Bains. The group confirmed that the remaining SFr6 million will…

Energis considers legal action against Swiss firm over stock sale

This content was published on Mar 21, 2001 “Clearly some shares have been sold and some were subject to the lockup agreement,” said a spokeswoman for Energis. “We are currently seeking clarification and legal advice.” Distefora’s chief executive, Alexander Falk, confirmed to swissinfo that the firm had sold off a certain number of Energis shares, but denied that the sale was in breach…

Basel leads the way in integration

This content was published on Mar 21, 2001 Today 23 per cent of Basel’s population is foreign, and consists of some 145 nationalities. Angela Bryner, at Basel’s office for migration and integration, runs a variety of projects designed to help the newcomers settle in to their new homes. “Integration to me means that every member of our society feels welcome,” she says. “Everyone…

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Swiss stock market takes a beating

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Geneva hopes to escape worst of cuts at Procter and Gamble

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ABB wins $180 million order from Shell

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Surprise cut in Swiss interest rates

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Mathematics is all in the brain

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Shares dive as profits fall at Zurich

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Patrizia Pesenti: Ticino is not a special case

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Nestlé to provide funding for Expo 02

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Energis considers legal action against Swiss firm over stock sale

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Basel leads the way in integration

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