Word: swiss
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...Germany's Finance Minister, Hans Eichel. "Herr Ackermann has our full confidence," Eichel told reporters. Although not directly connected to his bank job, the Mannesmann case typifies the head-on collision between Ackermann's brash style of management and the bank's more cautious German approach. Ackermann, who is Swiss, is the first non-German to head the bank in its 133-year history. He has aimed to make it function more like an American or British financial institution, moving away from Germany's traditional reliance on consensus. The bank has switched, for example, to American accounting rules, but Ackermann...
...guarantor of the country's social-welfare system. But when Statoil tried to expand its shrinking domestic business by looking for gas in Iran, it ran into trouble. In mid-September, economic-crime police raided the company's Stavanger headquarters; they believe a $15 million payment to the Swiss bank account of a consulting firm may have been a bribe destined for Iranian officials. Three top executives of Statoil - chairman Leif Terje Loeddesoel, CEO Olav Fjell (inset above) and executive vice president Richard J. Hubbard - have resigned under pressure because of the growing scandal. "I can see now that...
...According to a new study in Switzerland, there was a 60% jump in heart attacks in the country during last year's soccer World Cup?and the Swiss team didn't even play
...foreign traveler, this is precisely the attraction. You haven't been preceded by backpacking squads of gap-year Europeans; there are no sari-clad Swiss ladies or gentle Australian retirees asking directions to the nearest Ayurvedic spa. As a result the touts and taxi drivers are smiling, open-faced na?fs by the rapacious standards of India's tourism hot spots, and the infrastructure is gratifyingly nonexistent. All you get is unmediated India. And an awful...
...happy to be back in civilization ... We ate dates, no vegetables, and there were no vitamins." SILJA STAEHLI, a Swiss woman who was released last week, along with 14 other hostages, after being held in the Sahara desert for five months by a group of Islamic fundamentalists...