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Climate change to have big impact on Rhône Valley

This content was published on Sep 4, 2013 Temperatures in the Rhône Valley are expected to rise by 0.9 degrees Celsius by 2050, resulting in much hotter springs and summers and wetter winters, researchers from the European Union-funded ACQWA project, led by the University of Geneva, revealed on Wednesday. There will be less snow in the Alps each year and this will melt…

Switzerland tops field in competitiveness

This content was published on Sep 4, 2013 Switzerland’s strengths lie in its innovation, its system of education, and its research institutions, as well as its superb infrastructure, transparent administration, and functioning finance and job markets, WEF said. There is room for improvement in several areas, according to the study. Swiss youths should have greater access to universities and women should have greater…

Bankers regret past conduct

This content was published on Sep 3, 2013 The banks do not yet know the ultimate cost of the government settlement; they have until the end of this year to come forward in reporting tax evasion by their American customers. The deal struck with US investigators – which will allow some banks to pay fines to avert prosecution – follows a long-running US…

Further millions paid to Britain and Austria

This content was published on Sep 2, 2013 The Federal Tax Administration said on Monday Britain had received £146.7 million (CHF213 million) and Austria €254.7 million (CHF313 million). This follows a first payment in July, when Switzerland transferred CHF372 million to Britain and CHF515 million to Austria. Further monthly payments will be made until June 2014. The financial crisis has put Switzerland under…

Zurich Insurance looks into allegations

This content was published on Aug 30, 2013 Europe’s third-largest insurer has been deeply shaken by Wauthier’s death on Monday and by the subsequent resignation of its chairman, former Deutsche Bank chief Josef Ackermann, three days later. Ackermann said that he had been profoundly affected by his colleague’s death and that Wauthier’s family believed that he shared some of the responsibility. The chairman,…

Report sees bleak future for Swiss private banks

This content was published on Aug 29, 2013 The University of St. Gallen report shows that the situation is especially critical for institutions holding less than CHF5 billion ($5.3 billion) in client assets. Due to liquidations hitting small establishments especially hard, 13 private banks closed their doors in 2012, bringing the total in Switzerland to 148. The global tax firm KPMG, which was…

Chinese illegal immigrants live in the shadows

This content was published on Aug 29, 2013 Huxian* is Portuguese, born in 1981 on the island of Macao, near Hong Kong. At least, this is what it says on his European Union passport, issued in 2007. In reality, Huxian hails from Fujian, a province in south-east China. He is not yet 30 and doesn’t speak a word of Portuguese. He has only…

Zurich Insurance chairman resigns over suicide

This content was published on Aug 29, 2013 In a company release, Ackermann said his colleague’s untimely death had profoundly affected him and that he felt partially responsible. The 53-year-old Wauthier was found in his home in Zug on Monday morning, with preliminary reports indicating a suicide. “The unexpected death of Pierre Wauthier has deeply shocked me. I have reasons to believe that…

CFO of Swiss insurer killed himself: police

This content was published on Aug 27, 2013 A police spokesman, citing information from the Forensic Medicine Institute, said third party involvement in his death could be ruled out. In announcing Wauthier’s death, Zurich Insurance, Switzerland’s largest insurance company, said it would not disclose further details out of consideration for his family. “The Board of Directors, Group Executive Committee and all of our colleagues…

St Gallen geothermal project to continue

This content was published on Aug 27, 2013 Fredy Brunner, the member of the city council responsible for technical operations, announced the decision on Tuesday, having informed Swiss Energy Minister Doris Leuthard the previous day. The decision was taken after consultations with various experts, he said. The borehole has been stabilised and pipes have again been inserted to a depth of 4,000 metres.…

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Climate change to have big impact on Rhône Valley

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Switzerland tops field in competitiveness

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Bankers regret past conduct

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Further millions paid to Britain and Austria

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Zurich Insurance looks into allegations

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Report sees bleak future for Swiss private banks

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Chinese illegal immigrants live in the shadows

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Zurich Insurance chairman resigns over suicide

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CFO of Swiss insurer killed himself: police

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St Gallen geothermal project to continue

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