Internal: Archive

Crossair takes fright at prospect of absorbing Swissair

This content was published on Oct 19, 2001 The warning came as the government held talks with banks and private industry to try to raise enough cash to press ahead with a salvage plan under which Crossair is to acquire 26 long-haul and 26 short-haul Swissair planes. Crossair was due to decide on Friday whether it could absorb the aircraft, but postponed the…

Mikron shares fall after results warning

This content was published on Oct 19, 2001 Mikron, which makes production equipment and components, said on Friday it expected a loss for the year of up to SFr95 million ($57.82 million) from a previous target of a negative SFr65 million, to SFr70 million. The news sent Mikron shares tumbling on the Zurich stock exchange. Shortly after trading opened, they fell to SFr96,…

Tornos shares take a battering at the bourse

This content was published on Oct 19, 2001 Shortly after trading opened on Friday, the share price fell by SFr7.10 ($4.32) or 18.39 per cent to SFr31.50. By the close of trade, the price had slipped still further to end the day on SFr30.90. Trading in Tornos shares had been suspended on Thursday. The lathe maker and supplier has said it expects sales…

Nestlé on track for another successful year

This content was published on Oct 19, 2001 The sales totalled SFr62.4 billion ($38.1 billion) for the period. Nestlé also reported that it was considering a possible initial public offering of a minority stake in Alcon, its wholly-owned eye care business. The group said real internal growth between January and September was 4.2 per cent, ahead of the four per cent trend target.…

China reportedly lifts blacklist on CSFB

This content was published on Oct 19, 2001 The Financial Times quoted China’s vice-minister of finance, Jin Liqun, as saying that CFSB was no longer barred from future deals on the mainland. Last August, Beijing pulled the plug on CSFB’s underwriting roles in an expected $1.8 billion share issue by China Unicom, the country’s second largest mobile phone operator, and a $1 billion…

Plants offer clues to weather forecasting

This content was published on Oct 19, 2001 Aida, who comes from Orsonnens in canton Fribourg, offers courses in plant behaviour. To those who can read the signs, a meadow of flowers is a living, breathing weather centre. “This little plant grows all over Europe,” she says, pointing to the blue flower of wild chicory. “It’s very ancient and has extraordinary properties. It…

Swiss House wins Massachusetts award

This content was published on Oct 19, 2001 The prize will be given on October 25 by the Associated General Contractors of Massachusetts. It will reward the Swiss government, architects Muriel Waldvogel and Jeffrey Huang, as well as the American building company Marc Truant and Associates for their “innovative combination of building materials with high technology, and video-conference facilities.” “We are very proud…

Aid to Swissair lands government in legal minefield

This content was published on Oct 19, 2001 Swiss government officials privately admit they are on thin ice legally in their attempts to salvage the national airline, Swissair, which is technically bankrupt. The government has already pumped some SFr450 million ($273.8 million) into the carrier, and is expected to provide more cash when it meets to discuss the issue next Monday. EU rules…

More Swiss women than men work on standby

This content was published on Oct 19, 2001 According to the report, which was published by the Federal Office for Statistics on Thursday, 106,000 women worked on call during the second quarter of this year. In contrast, only 55,000 men were employed in this way. The total number of people working on call represented five per cent of Switzerland’s workforce. Half of these…

Tornos to cut 200 jobs

This content was published on Oct 18, 2001 Shares in Tornos were suspended for the rest of the day, the Swiss Exchange announced earlier. Prior to its suspension shares in Tornos were down 3.4 per cent at SFr38.60. The Tornos Group employs more than 1,200 people, with about 1,000 working at the group’s headquarters in Moutier, in canton Bern. Tornos develops and manufactures…

Internal: Archive

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