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Swiss National Bank cuts interest rates again

This content was published on Sep 24, 2001 The bank’s three-month LIBOR (London Interbank Offered Rate) band now stands at 1.75 to 2.75 per cent. The swiss franc on Friday rose to an all time high of around SFr1.44 to the euro and is at a 20 month high against the dollar at about SFr1.59. But the dollar and the euro clawed back…

Lausanne researchers find trigger for cocaine addiction

This content was published on Sep 24, 2001 The findings are the result of more than five years work. The scientists had originally planned to study genetic links to psychiatric disorders before they came across their “addiction” gene. “In a sense, it was a stroke of luck,” said François Conquet, head of the team. “We did not follow standard procedures to get our…

Deutsche Bank buys Zurich Scudder

This content was published on Sep 24, 2001 The transaction will see Deutsche abandon the insurance business and allow Zurich Financial Services to get rid of its under-performing US fund business, which it bought in 1995. Analysts say the partnership has been plagued by integration troubles from the beginning. Deutsche, Germany’s largest bank, said it would swap 75.9 per cent of its insurance…

Swissair unveils major shake up to prop up ailing carrier

This content was published on Sep 24, 2001 Unveiling its new restructuring plan on Monday, the group said Crossair would be fully integrated into Swissair to form “Swiss Air Lines”, and that the new concern would be headed by current Crossair chief executive, André Dosé. Swissair Group said the restructuring, which is expected to involve heavy job cuts, would be completed within three…

Task force to devise emergency rescue plan for Swissair

This content was published on Sep 24, 2001 The task force, which will be set up in the coming days, will be headed by ex-parliamentarian and entrepreneur, Ulrich Bremi. Government authorites, representatives from Swissair, the banking sector and other economic partners will also take part. The decision came after a meeting on Saturday between heavyweights from the Swiss economy, Swissair management and government…

Sam steals the show on Swiss streets

This content was published on Sep 23, 2001 Designed and assembled by the CREE company (Creation Research Engineeering and Ecology) of Biel, Sam is labelled as environment-friendly, cheaper to run than conventional cars, safe, quiet – and fun. Designer and CREE chief executive officer Marc Frehner insists that Sam is not really a car. “Sam is a product half-way between a scooter and…

Car-less Saturday gets green light

This content was published on Sep 22, 2001 The capital, like 13 other Swiss cities, is participating in European Car Free Day, and a large part of the downtown area has been designated a no-go zone for private traffic, turning it into a huge pedestrian playground. In about 800 European cities on Saturday, thousands of people will take to the streets for the…

Neuchatel celebrates vintage festival

This content was published on Sep 22, 2001 The festival in the western town is one of the most popular events of its kind in Switzerland because of the carnival atmosphere it inspires. Orchestras, jazz and marching bands set the tone on the first evening, as tents spring up around town. A series of parades draw up to 40,000 visitors on Saturday and…

Job losses spread across Swiss corporate sector

This content was published on Sep 22, 2001 Despite the raft of corporate payroll cutbacks seen over the past three months, the unemployment rate in August came in at 1.7 per cent, unchanged from the previous month. However, Marcus Allenspach, chief economist at Cantrade Private Bank, told swissinfo that the jobless rate will pick up from now on. “In the first half we…

Swiss Market Index shaky after Wall Street losses

This content was published on Sep 21, 2001 Stock exchanges in Frankfurt, London and Paris also registered sharp drops. On Thursday, the Wall Street Index fell by 4.4 per cent, dropping to 8,376.21 points, evidence of growing fears about the current economic climate and military retaliation for the last week’s attacks on the United States. There were also substantial losses on the Asian…

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Swiss National Bank cuts interest rates again

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Lausanne researchers find trigger for cocaine addiction

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Deutsche Bank buys Zurich Scudder

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Swissair unveils major shake up to prop up ailing carrier

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Task force to devise emergency rescue plan for Swissair

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Sam steals the show on Swiss streets

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Car-less Saturday gets green light

More

Neuchatel celebrates vintage festival

More

Job losses spread across Swiss corporate sector

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Swiss Market Index shaky after Wall Street losses

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