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Swiss stock exchange teams up with British operator to create blue chip platform

This content was published on Jul 10, 2000 The new platform is to be called virt-x, and SWX will transfer all its blue chip trading to the new exchange, which will be based in London. SWX members will become members of virt-x. The new exchange will be given exclusive use of SWX’s electronic trading platform. Antoinette Hunziker-Ebneter, chief executive of the Swiss exchange,…

Novartis to shake-up pharmaceuticals operations

This content was published on Jul 10, 2000 A communiqué from group headquarters in Basel said the new entities would be “Primary Care”, “Speciality Businesses” and “Mature Products”. “Our aim is to align our pharmaceutical activities around franchises and strategic brands, while establishing a focused management structure,” said Daniel Vassella, chairman and chief executive officer of Novartis. “These changes provide entrepreneurial space, speed…

Clariant strengthens presence in Nafta

This content was published on Jul 10, 2000 A Clariant statement said the acquisition was part of the company’s strategy to increasingly replace standard products with higher-margin specialties and to strengthen its presence in key markets. Both parties agreed to keep the purchase price confidential. Christianson, with 120 employees and annual sales of SFr30 million, is one of Mexico’s largest producers of surface…

Pressure mounts for savings as health costs soar to SFr40 billion

This content was published on Jul 10, 2000 Announcing the latest figures the interior minister, Ruth Dreifuss, said cuts in health care were needed to bring down costs, including a reduction in the number of doctors. She said the costs were becoming too much of a burden for many households. Overall expenditure on health is now SFr40 billion a year, half of which…

SAir plays down reports of crisis

This content was published on Jul 9, 2000 The head of SAir, Philippe Brugisser, admitted that the rise in fuel prices, as well as the group’s involvement with other airlines, had presented financial problems. One Swiss newspaper reported the company is losing SFr3 million a day. The Sonntagszeitung said the national carrier, Swissair, was losing SFr1 million and SAir’s involvement in the LTU…

Crossair plans memorial for victims of January crash

This content was published on Jul 9, 2000 The acting director of Crossair, Fritz Gotz, said the land on which it will be built has been donated by the parish of Nassenwil. It is not yet known what the memorial will look like, but the airline said it plans to have “something discreet.” The memorial will stand some 100 metres from the field…

Swiss motorists kick off summer holiday with massive traffic jams

This content was published on Jul 8, 2000 Hundreds of motorists are heading towards Italy for a summer break but ended up in tailbacks stretching for kilometres. At midday on Saturday, the A2 between Amsteg and Göschenen had an 11 kilometre queue, with drivers having to wait up to three and a half hours before traffic began to move again. There was a…

Leunberger looks to Tony Blair’s “Third Way” as model for Social Democratic Party

This content was published on Jul 8, 2000 Addressing members at a party conference on Saturday, he said that despite living in a changing world, there is a tendency in the party to resist progress. He told members in canton Zurich that social democracy itself had changed the world. However, he warned that forces within the party tend to glorify and romanticise the…

The business week in Switzerland

This content was published on Jul 8, 2000 The airline industry was rocked by the surprise resignation of Swissair’s president and chief executive officer, Jeffrey Katz. Katz is leaving the airline after just three and a half years to take up a position with an e-business company in the United States. He said it had been a privilege to lead the company but…

Luxury hotels bought by Luxembourg company

This content was published on Jul 7, 2000 At a news conference in Zurich, the Richemond Hotels Holding company of Luxembourg said the aim was not to build a hotel chain but to have a collection of hotels, each with its own style. The group is to invest more than SFr100 million in the five star hotels listed below:· the Richemond in Geneva·…

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Swiss stock exchange teams up with British operator to create blue chip platform

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Novartis to shake-up pharmaceuticals operations

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Clariant strengthens presence in Nafta

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Pressure mounts for savings as health costs soar to SFr40 billion

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SAir plays down reports of crisis

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Crossair plans memorial for victims of January crash

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Swiss motorists kick off summer holiday with massive traffic jams

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Leunberger looks to Tony Blair’s “Third Way” as model for Social Democratic Party

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The business week in Switzerland

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Luxury hotels bought by Luxembourg company

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