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New threat to Swiss firms which used slave labour in Nazi era

This content was published on Jul 28, 2000 Elan Steinberg, executive director of the World Jewish Congress (WJC), told Swiss radio the companies faced court proceedings if they didn’t agree to cooperate with the $1.25 billion (SFr2 billion) out-of-court settlement within 30 days. Under an agreement finalised by Judge Korman in New York this week, Swiss companies have to register before the 30-day…

Swiss family to become first to live in Internet House

This content was published on Jul 27, 2000 The show-case house – Switzerland’s first – is in the village of Huenenberg, canton Zug, and will open to the public in November, the organisers said on Thursday. It is being developed by a foundation set up by Otto Beisheim, the founder of the German retailer Metro, along with partners such as the United States…

Hotel industry enjoys long-awaited renaissance

This content was published on Jul 27, 2000 The latest figures, from the Federal Office for Statistics, show that overnight stays in the first six months of the year rose by one million (or 6.5 per cent) compared to the same period in 1999. The biggest increase was in June, where overnights were up by 250,000 compared to last year. Jean Pflückiger, a…

Mourners pay tribute to victims

This content was published on Jul 27, 2000 The mourners, mainly relatives and friends of the dead, held the ceremony above the Saxet Gorge on Thursday. The victims died when a flash flood swept through the gorge. The service took place around a memorial stone bearing the names of the dead. Bouquets were laid around the monument with the flags of their native…

Government approves use of genetically modified corn

This content was published on Jul 27, 2000 Greenpeace Switzerland immediately attacked the move, saying it was tantamount to turning Swiss consumers into guinea pigs. The government approved the use of Monsanto’s Mon 810 corn, saying it posed no threat to human health. It is the fourth genetically modified (GM) crop to be declared safe for human consumption in Switzerland. It may also…

Mourners gather to mark anniversary

This content was published on Jul 27, 2000 The mourners, mainly relatives and friends of the dead, held the ceremony above the Saxet Gorge. The victims died when a flash flood swept through the gorge. The service took place around a memorial stone bearing the names of the dead. Bouquets were laid around the monument with the flags of their native countries. The…

Government increases revenues through VAT

This content was published on Jul 27, 2000 The figure represents an increase of SFr500 million on the previous year. Taxable revenues increased by 5.2 per cent on 1997. The statistics office said almost 290,000 companies posted VAT returns with a total turnover of SFr1,338 billion. Of that amount, SFr578 billion was taxable and SFr751 was non-taxable. The increase in taxable revenues was…

Serono releases details of global share offer

This content was published on Jul 27, 2000 The SFr3 billion offering prices bearer shares at SFr1,550 each and American Depositary shares at $23.49 (SFr38.75). Forty ADSs therefore equal one bearer share. Serono said the new ADSs will begin trading on the New York Stock Exchange on Thursday, the same day as the new bearer shares go public on the Swiss Exchange. The…

Takeover battle for Intersport hots up

This content was published on Jul 27, 2000 The London-based company has announced that it now holds 48 per cent of Intersport’s shares. The statement comes a day after Credit Suisse First Boston said Stancroft planned to launch an offer to buy all publicly held shares in Intersport at a price of SFr109 per share. The offer is to be launched on August…

EU gives green light for Novartis agribusiness deal

This content was published on Jul 26, 2000 The European Union’s antitrust watchdog said its approval, which followed a four-month probe, was “subject to a number of divestments offered by the companies to address concerns about the creation or strengthening of dominant positions…” The Commission is concerned that the new company, to be called Syngenta, will be in a position to monopolise some…

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New threat to Swiss firms which used slave labour in Nazi era

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Swiss family to become first to live in Internet House

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Hotel industry enjoys long-awaited renaissance

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Mourners pay tribute to victims

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Government approves use of genetically modified corn

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Mourners gather to mark anniversary

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Government increases revenues through VAT

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Serono releases details of global share offer

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Takeover battle for Intersport hots up

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EU gives green light for Novartis agribusiness deal

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