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Philosophers to meet in Biel

This content was published on Oct 18, 2001 The organisers say philosophy has become increasingly important, as it provides a fresh way of looking at issues. Philosophers look at the world critically, and ask questions that other people normally don’t ask. The two-day philosophy symposium, the first ever held in Biel, will examine the relationship between philosophy and psychology, in discussions held in…

Swissair fears grounding as clock ticks

This content was published on Oct 18, 2001 “The winter flight planning should already have been in place,” said a Swissair spokesman. “The longer it takes to get the financing in place, the more unlikely it becomes that we will be able to fly from October 28.” The airline needs to have its crew and equipment in place, book hotels for the crew,…

Warnings about Swissair ignored, says former banker

This content was published on Oct 18, 2001 More than a year before Swissair’s collapse, it was clear that the airline was in deep trouble, says Christoph Chandiramani. Yet his warnings that the airline was heading for financial disaster went unheeded, leading to the biggest corporate collapse in Swiss history. In an exclusive interview with swissinfo, Chandiramani said he first warned of problems…

Orders up at Sulzer

This content was published on Oct 18, 2001 All four businesses that Sulzer relies on during the switch to high technology from heavy manufacturing posted double-digit growth rates. The order numbers were roughly in line with market expectations after it spun off its 74 per cent stake in Sulzer Medica to shareholders in July. Medica figures are no longer consolidated in Sulzer accounts.…

Swiss slowdown forecast

This content was published on Oct 18, 2001 The Lausanne-based Créa Institute said in its latest report that the Swiss economy will enter a recession over the next six months. Recession is defined as two quarters of no growth, or negative economic growth. The Créa Institute predicts Swiss growth will be 0.0 per cent in the fourth quarter of 2001 and minus 0.2…

Government ready to invest in new national airline

This content was published on Oct 17, 2001 The transport minister, Moritz Leuenberger, said on Wednesday that government intervention was conditional on business and those cantons with airports also contributing to the new carrier. He did not say how much the government was willing to spend – the exact amount will be decided on Monday pending the outcome of further talks – but…

Leading institute predicts Swiss recession next year

This content was published on Oct 17, 2001 The Lausanne-based Créa Institute says in its latest report that Swiss growth will be 0 per cent in the fourth quarter and minus 0.2 per cent in the first quarter of 2002. The institute then expects a slow recovery with growth for 2002 as a whole expected to be 1.5 per cent. The growth forecast…

Crossair offers gesture to passengers

This content was published on Oct 17, 2001 For the destinations it serves, Crossair says it will accept Swissair tickets that begin with the number 085 provided the ticket is valid and the fare conditions fulfilled. It is excluding special discount tickets that Swissair has been selling over the past week. Meanwhile, Crossair said on Wednesday that it has received a planned SFr500…

Clariant releases disappointing sales figures

This content was published on Oct 17, 2001 The company said nine-month sales were flat in local currencies and down four per cent in Swiss francs to SFr7.59 billion ($4.65 billion). Clariant said it did not expect its second-half operating margins to beat first-half levels. However, the group added that its divestment and restructuring programmes were on track and that it expected to…

Cabinet to meet on Swissair as investor search continues

This content was published on Oct 17, 2001 Employee payouts That means Swissair needs up to SFr1.7 billion to keep flying until next year. A further SFr650 million is needed for payouts to the 9,000 people who would lose their jobs under the plan. In addition, Crossair says it needs to increase its equity capital from SFr450 million to SFr2.2 billion, which would…

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