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Zermatt faces bankruptcy as debts pile up

This content was published on Apr 3, 2000 The central lending body for Switzerland’s communes has launched an injunction against the resort of Zermatt, after mounting debts and insolvency. In addition, the lending body warned that the financial situation in Zermatt and other municipalities in canton Valais was so bad, they could soon find themselves bankrupt. In the light of this, it has…

The business week ahead

This content was published on Apr 2, 2000 Attention will be focused this week on Swiss lift maker, Schindler, as it unveils its 1999 results, amid reports of a potential merger with the Otis elevator company. Analysts are upbeat about Schindler’s prospects, with CFSB saying in its latest report that the Swiss lift maker is in a position to capture additional market share,…

Swiss Life backs takeover of French partner

This content was published on Apr 2, 2000 The Swiss insurance company, Swiss Life, says it will support a takeover bid of the French bank, CCF, in which it is a major shareholder. The company made the announcement after the international banking group, HSBC, put in an offer to buy CCF. Swiss Life and CCF’s other major shareholders unanimously backed HSBC’s surprise takeover…

Feldschlösschen boss defends brewery sell-off

This content was published on Apr 1, 2000 The boss of the Feldschlösschen group, Robert A. Jeker (file picture), has defended a decision to sell off the company’s brewing division. Speaking on Swiss radio, he said the sale was in the best interests of customers, employees and shareholders. Jeker told Swiss radio DRS that once a deal was complete, the “misunderstandings” surrounding the…

Business Spotlight

This content was published on Mar 31, 2000 There was more bad news for Swisscom staff in a week that also saw the end of an era for the country’s beer producing industry. At the same time, another clutch of results pointed to the durability of the world economic recovery. Swisscom, the country’s biggest telecommunications operator, confirmed it was slashing another 3,000 jobs…

Business backs EU treaty

This content was published on Mar 31, 2000 Captains of Swiss industry have called on the Swiss to vote in favour of the bilateral agreements between Switzerland and the European Union when they go to the ballot box on May 21. The accords were worked out during long negotiations after the electorate turned down membership of the European Economic Area in 1992. The…

Swiss drinkers turn to the hard stuff

This content was published on Mar 31, 2000 Sales of hard alcohol have risen by a quarter in Switzerland following last year’s tax reduction on foreign spirits. At the same time, drinking levels as a whole have dropped by around two per cent, with consumption of beer and wine down almost five per cent. The latest figures were released as part of an…

Swisscom cuts thousands of jobs

This content was published on Mar 31, 2000 Swisscom has confirmed plans to slash more jobs. The country’s biggest telecommunications company is to shed a further 3,000 jobs by the end of 2002, while another 3,000 posts will be outsourced. Swisscom said further news on its outsourcing plans would be unveiled next month. The cuts bring the total number of job losses at…

ABB to sell its share in ABB Alstom Power

This content was published on Mar 31, 2000 The Swiss-based technology group, ABB, is selling its 50 per cent share in ABB Alstom Power to the French energy company, Alstom. The companies said ABB would receive a cash payment of SFr2 billion for the share. The president and chief executive officer of ABB, Göran Lindahl, said the decision to pull out of the…

WWF Switzerland launches new campaign

This content was published on Mar 30, 2000 The Swiss branch of the World Wide Fund for Nature has launched a new campaign to try to persuade the Swiss to use more renewable sources of energy. The organisation warned that unless this is done, the country’s natural resources are in danger. “The volume of Switzerland’s glaciers have dwindled by 50 per cent while…

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Internal: Archive

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Zermatt faces bankruptcy as debts pile up

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The business week ahead

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Swiss Life backs takeover of French partner

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Feldschlösschen boss defends brewery sell-off

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Business Spotlight

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Business backs EU treaty

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Swiss drinkers turn to the hard stuff

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Swisscom cuts thousands of jobs

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ABB to sell its share in ABB Alstom Power

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WWF Switzerland launches new campaign

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