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Mummy discovery reveals ancient secrets

This content was published on Feb 28, 2012 The Valley of the Kings is like a Holy Grail for Egyptologists. Situated on the west bank of the Nile, opposite Luxor, it is the burial site of many pharaohs and members of royal families or powerful nobles of the Egyptian Empire. It was here, in 1922, that the most famous discovery in the history…

SIX Group cuts 150 jobs

This content was published on Feb 28, 2012 The group, whose businesses include the management of credit and other card payments, cashless transactions, electronic bills and interbank payments, said on Tuesday that the difficult market environment worldwide and the strong Swiss franc had affected its profitability. In a statement it said that profit for 2011 was SFr216 million – up 27.3 per cent…

Transocean books $5.7 billion loss for 2011

This content was published on Feb 27, 2012 The company, which owned the Deepwater Horizon oil rig that exploded in the Gulf of Mexico in April 2010, attributed the result to a $5.2 billion goodwill impairment charge and an estimated $1 billion loss contingency on the Deepwater Horizon incident, both of which were booked in the fourth quarter of 2011. Transocean is locked…

Swatch foresees 1,000 new hires worldwide

This content was published on Feb 26, 2012 In an interview with Der Sonntag newspaper on Sunday, Hayek said he was always involved in hiring decisions at the Swiss watchmaking giant, which currently employs 28,000 people. He said that he and his management team were against hiring for the short term and then dismissing employees as needed. “This helped us to avoid letting…

Recession-hit nations owe pharma firms billions

This content was published on Feb 25, 2012 Swiss pharmaceutical giants Roche and Novartis are examining whether to limit supplies to some of the worst culprits. While European finance ministers shuttle between crisis meetings, the consequences of the debt problems continue to extend across the eurozone. “The on-going financial crisis and its resultant drag on economic growth continues to impact the debt burden…

Regulator moves to protect small investors

This content was published on Feb 24, 2012 Despite having misgivings about the sale of such complex products to small retail investors, the Swiss financial regulator found itself powerless to intervene. Now, the body wants to close loopholes with new laws. The Swiss Financial Market Supervisory Body (Finma) proposed new laws on Friday aimed at protecting small investors while driving out rogue investment…

Solar Impulse tests limits of endurance

This content was published on Feb 24, 2012 André Borschberg, who successfully piloted the Solar Impulse from Switzerland to Belgium and France last summer, emerged from the cockpit simulator on Friday morning rested and upbeat. For the previous three days, Borschberg had lived – eating, sleeping and exercising – in the confined space of the cockpit, all while piloting the plane through a…

Commissioner urges new law amid “rising racism”

This content was published on Feb 23, 2012 Intolerance and racism are “dangerously on the rise”, the commissioner for human rights, Thomas Hammarberg, said after a four-day review of Swiss policies and practices. The review was part of the Council of Europe’s ongoing assessments of the human rights situation in member states. The last such Swiss review was in 2004 and this time…

“Laughably small” innovation fund criticised

This content was published on Feb 23, 2012 But dwindling profits have also negatively impacted the ability of smaller firms to maintain research and development (R&D) budgets. An industry lobby group has therefore called on the government to increase funding for innovative projects. Last year, the government ploughed an extra SFr100 million ($110 million) into stimulating innovation, but the funds were bled dry…

Tax compliance fears hit Sarasin bank

This content was published on Feb 23, 2012 Its report on its annual figures issued on Thursday warned of further outflows in 2012 “owing to the implementation of its strategy focusing on tax-compliant assets”. The total amount of new money coming into the bank over the year as a whole was SFr1.5 billion. Its net profit fell by 10.3 per cent in comparison…

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Mummy discovery reveals ancient secrets

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SIX Group cuts 150 jobs

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Transocean books $5.7 billion loss for 2011

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Swatch foresees 1,000 new hires worldwide

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Recession-hit nations owe pharma firms billions

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Regulator moves to protect small investors

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Solar Impulse tests limits of endurance

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Commissioner urges new law amid “rising racism”

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“Laughably small” innovation fund criticised

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Tax compliance fears hit Sarasin bank

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