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Downturn drives Swatch profits lower

This content was published on Aug 20, 2001 However, in a statement from its headquarters in Biel, the group said the profit decline was really only 9.8 per cent because last year’s income had included an extraordinary sum of SFr44 million from a convertible bond, which was not applicable this year. The news sent the share price plummeting by 9.08 per cent to…

Early climbers banish dragons

This content was published on Aug 20, 2001 A 16th century Swiss scientist, Konrad Gesner, climbed mountains and by doing so, challenged the widely held belief of the time that dragons inhabited the Alps. “As long as it may please God to grant me life, I will ascend several mountains, or at least one, every year, at the season when the flowers are…

Major Japanese insurer chooses UBS as fund manager

This content was published on Aug 19, 2001 The company revealed its decision in the Japanese economics newspaper, “Nikkei”, adding that it hoped to increase its returns on foreign investments. The move marks the first time that a Japanese insurer has entrusted a European bank with such a large sum of money. By giving the funds to UBS, Yasuda Life has handed over…

Swisscom reveals war chest for European expansion

This content was published on Aug 18, 2001 In an interview with the German language economics newspaper “Finanz und Wirtschaft”, Alder said that any expansion would be based around acquiring other European firms. However he was quick to point out that the acquisitions would have to fit in with Swisscom’s expansion strategy and would have to come at a good price with a…

Swissair makes first payment to AOM/Air Liberté

This content was published on Aug 18, 2001 AOM/Air Liberté filed for bankruptcy in June after its shareholders, Swissair and Marine Wendel, said they would not give it any more money to stay afloat. Its fate was decided by a commercial tribunal in Paris on August 1, which plumped for the rescue package drawn up by Holco, a group led by former Air…

Congress of Swiss expatriates flags up UN membership

This content was published on Aug 17, 2001 The president of the Organisation for the Swiss Abroad, Georg Stucky, opened this year’s congress on Friday, and he underlined the importance of the close ties many Swiss expatriates maintain with Switzerland. One of the highlights of this year’s congress is a keynote speech by the foreign minister, Joseph Deiss, on Saturday. This year’s convention…

Markets fear Swatch sales slump

This content was published on Aug 17, 2001 Shares in the Swatch Group fell sharply last week after the markets got nervous when the company decided to announce its first half results earlier than expected on Monday. The company had previously indicated a release towards the end of August. The markets interpreted the timing of the release as a sign that the watchmaker…

Swiss railways take tilt-trains off track

This content was published on Aug 17, 2001 The railways decided to remove the trains after various parts fell off a wheel control gear on one of the tilt-trains on Sunday. The checks this week revealed further loose parts on four trains, although no explantion has been found for this shortcoming. Because the reasons behind the incidents remain unclear, the federal railways have…

Archaeological find sheds light on Switzerland’s Jewish past

This content was published on Aug 17, 2001 Officials in canton Aargau said on Friday that researchers excavating the former Roman town of Augusta Raurica had found the ring while digging at the site of a house dating from the second or third century. The bronze finger ring bears the traditional seven-candle Jewish “menorah” symbol. It also depicts a ram’s horn, symbolizing Rosh…

Underwater “city” reveals clues about origin of life

This content was published on Aug 17, 2001 During their research some 15 kilometres from the Mid-Atlantic Ridge, the scientists discovered a new type of hydrothermal vent in the ocean floor, which they believe provides ideal conditions for bacteria to develop. “At first, we thought we were looking at a very unusual coral field consisting of very intricate, beautiful white structures,” said Gretchen…

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Internal: Archive

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Downturn drives Swatch profits lower

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Early climbers banish dragons

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Major Japanese insurer chooses UBS as fund manager

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Swisscom reveals war chest for European expansion

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Swissair makes first payment to AOM/Air Liberté

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Congress of Swiss expatriates flags up UN membership

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Markets fear Swatch sales slump

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Swiss railways take tilt-trains off track

More

Archaeological find sheds light on Switzerland’s Jewish past

More

Underwater “city” reveals clues about origin of life

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